what appeal

Even in its death throes, there are old faithfuls posting nonsense:
There will be an appeal. If I were CMQ management I would give up on being Mr Nice Guy.
Stark/Shepherd and their battery of expensive devious lawyers got a win, sure, but it was justice denied.
There is along way to go yet. Just a pity it has to go through another legal phase. Plenty of time to refinance.

Templemen J is waiting for CMQ to make a decision on its position mean whether it can refinance, come to a negotiated settlement with Stark or go into administration. It is clear the court will not give leave to appeal.

The Mr Nice Guys were the financiers who attempted to negotiated with David Williams before giving notice of default. The bad guys were the one who lied, those that pleaded guilty to poor corporate governance.

The best possible outcome for shareholders is IF Stark take over the management of the company and inject some capital to revive it, otherwise it is a foregone conclusion.

Cheers