Thanks Loki,Having read what BH had to say, thankyou BH ! and...

Thanks Loki,
Having read what BH had to say, thankyou BH ! and not even claiming to have understood that, I did not bother with the legalise refferences, I have come up with a take along these lines.
The court can transfer the hedge to a third party but to do so they would have to ignore parts of the original contract between NGF and LB and in such a case the transfer would be contestable which would only make the lawyer feeding frenzy more ugly and so on it goes.
Lets hope they can buy it out or settle with the administrator.
Any other veiws please, but must be written in KISS language.

falko