CTT Cattles

 

TIDMCTT 
 
RNS Number : 1021Q 
Cattles PLC 
28 July 2010 
 

Cattles PLC 
28 July 2010 
                                  28 July 2010 
                    Cattles plc - Order of the Supreme Court 
On 13 May 2010, the Court of Appeal unanimously upheld the decision of the High 
Court on the application of Cattles plc (the "Company") to seek a determination 
in relation to whether the terms contained within certain cross-guarantee 
documentation operate to subordinate the Company's claims against its 
subsidiaries, including Welcome Financial Services Limited, to the claims of 
certain bank creditors, as explained in the announcement of the Company on 13 
May 2010. 
Following the order of the Court of Appeal, Party A applied to the Supreme Court 
for permission to appeal the Court of Appeal's decision. 
The Company has today been notified that, on 26 July 2010, the Supreme Court 
ordered that permission to appeal the Court of Appeal's decision be refused 
because the application to appeal "does not raise an arguable point of law of 
general public importance which ought to be considered by the Supreme Court at 
this time, bearing in mind that the case has already been the subject of 
judicial decision and reviewed on appeal". 
Consequently, the application of the Company has been finally determined to the 
effect that the Company's claims against its subsidiaries are subordinated to 
the claims of certain bank creditors. 
ENDS 
 
For further information: 
Margaret Young, Chairman, Cattles plc 020 7269 7252 
Geoffrey Pelham-Lane/Paul Marriott, Financial Dynamics 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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