Cause the Murdoch’s, like America never lose at Wars… 
Quick to blame everyone and never take responsibility! Same pattern with OneTel
Yay 
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Gordon to pay costs
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Justice Ashley Black of the supreme court dismissed the case, saying he was not satisfied they had made out their case that the creditors’ meeting should be halted.
Nor did he accept their argument that CBS, the largest creditor, should be barred from voting at the meeting.
Unless there is an appeal, the meeting will go ahead on Tuesday, sealing the fate of the network
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Is an appeal likely?
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On Monday, NSW Supreme Court Justice Ashley Black said he was “not satisfied” that lawyers for Mr Gordon’s companies had established any deficiencies in the creditors’ report that would require orders to be made.
He was also not persuaded that CBS should have its voting rights reduced or removed.
That’s what I thought when I saw the Breaking News headlines on Sky News. Bloody shonks! 
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It’s possible.
Great news.
Round 2 to ten!
Now creditors vote tomorrow. Then CBS back in court to get all shares transferred. That could be problematic.
Then Murdoch will try and tell the treasure to knock back the sale through the FIRB!
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I think it’s because Gordon’s company brought the action and was joined by News and Fox.
Australian:
But Justice Black ruled: “In summary, I am not satisfied that the plaintiffs have established that any deficiencies in the section 439A report, as supplemented by the supplementary report, are such as to warrant orders requiring that further information be provided to creditors or that the second creditors’ meeting be restrained,” Justice Black said in his decision.
Justice Black also said he was not satisfied that CBS “should he prevented, in advance, from voting at the meeting, or its vote restricted to a nominal amount”.
“Any challenge to the outcome of that meeting is properly brought after the event,” he said.
Justice Black said he was also not satisfied that “shareholders in Holdings are entitled to be provided further information concerning or to vote at the second creditors’ meeting”.
This quote is telling… they’ll be back in court after tomorrow’s meeting and the creditors vote in favour CBS bid.
These two pricks won’t take this lying down.
Why are they so keen to buy out a business that has already drained them hundreds of millions of dollars while under their control? They should get out while they’re behind. Surely propping up Foxtel can’t be worth this much.
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I think WIN are scared of the potential consequences of having an outsider run the company - Foxtel want to get their ‘best’ talent more widely viewed
I’m interested to see what happens with the revised bid - thats the next court battle IMO
They’ll be back in court… the sore losers want ten at all costs.
As others have said… they fucked the place up… forced administration and their plan back fired.
It really is in the best interest of the Australian media industry that CBS own and operate Ten. I cannot see how those two owning it is in anyone’s interest except themselves. The job losses alone would be horrific and tragic.
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Surely KordaMentha do not have to put the new deal to creditors to vote as it was filed after the deadline and that would give Gordon and Murdoch an advantage as they already knew the CBS bid.
I am sure there are cheers emanating from pyrmont this morning.
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SMH:
Justice Black said the question for the court was "not, and should not be, which of any competing commercial proposals put by interested parties would be most advantageous to the creditors of the Ten Group companies" including employees and shareholders.
“That is a matter properly left for their decision,” he said.
A spokesman for KordaMentha said the creditors’ meeting would go ahead tomorrow.
Creditors could vote to adjourn the meeting in light of the fresh bid by Birketu and Illyria, or vote on the resolution for CBS to buy the company. After CBS, Ten’s 750 employees are its biggest creditors.
Justice Black said it was “always open” to creditors to vote to adjourn the second meeting, “and it is open to them to do so in this case if they consider that their interests may be advanced by further negotiations between the receivers, the administrators and Birketu and Illyria on the one hand or CBS on the other, and are prepared to accept any commercial and financial risks that may arise from taking that course”.
So, it is up to the creditors to decide what they want to do tomorrow.
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