I hear through the grapevine that a group of majority owners (the ones that are close to the SC) are signing a petition to move the hearing date forward. Their reason being that the buyer 'is not minded to extend' after the 25th July deadline. The SC have requested the STB for the adjourned date to be fixed at a time before the 25th and expected not only an earlier date BUT a speedy decision as well. Rushing decisions through is NOT in the best interests of the majority or the minority; it is an abuse of due process.
Justice hurried is Justice buried.
It is not the minority who set the dates, but rather the STB panel. They are professionals in their own right with busy schedules and fit these hearings in at their convenience, not ours. Bear in mind, it was the very late application to the STB by the SC that delayed the process to begin with by a whole 9 months!
Isn't it poetic justice that they are running out of time?! The majority owners signed the CSA stating "Completion of the Valid Contract of Sale shall be scheduled not earlier that 3 months and not later than 6 months from the date of the Valid Date of Contract" (4.1.5). But in the S&P, it was changed to one year from the in principle RPA date - effectively tripling the length of time to 16 months.
On another issue:
In case you haven't heard about the outcome of the Sale Committee's application on the 23rd June to amend the Sale and Purchase agreement over the distribution of Beta sum:-
The application to amend was withdrawn.