I took the article as meaning this:because they have found a new...

I took the article as meaning this:

because they have found a new trustee to take over from the Public Trustee........it basically meant that PTQ no longer had a standing........they no longer had a interest in this matter.

I would assume that the PT counsel Sofronoff would have basically communicated this.

I dont think they would have at all got into the substance of the matter (considering the article appeared on the net prior to the lunch break).

So to say that OCV has been given a temporary green light by the states highest authority would be wrong in my opinion. All i assume that would have been said was that PTQ is no longer the trustee therefore they would be withdrawing and the new trustee wishes the matter to be deferred until the previous listing date to enable them to assess the situation and have discussions with creditors and noteholders.

Anyway that is how i believe the proceedings would have happened.......i dont think there would have been a "green light"

The new trustee would just want the noteholder to get the best possible deal......if that is liquidation....then they will continue with the action (and presumably they would be successful from the articles i have read) if liquidation is not the best then the noteholders will accept the offer and everything will be finalised.