I believe the Court had imposed an order on CMQ forbidding it to...

I believe the Court had imposed an order on CMQ forbidding it to enter into any kind of equity or debt financing arrangements (in addition to the bond deed preventing them from doing the same thing).

The board have gone ahead and signed the agreement anyway and are now asking the Court for there approval—despite completely disregarding the Court’s ruling!

That would have to be getting close to contempt, wouldn’t it?