The shares and debentures owned by TCL and the West Consortium (WestCo) were transferred to the FR trust, which was able to take part in the High Court case and also to try to validate the transfers in the old 1922 company and thus revive it.
The shares and debentures owned by TCL and the West Consortium (WestCo) were transferred to the FR trust, but this was shown to be ultra-vires, after a challenge by an FR Society member. FR Holdings Ltd was able to take part in the High Court hearing, to try to validate the transfers in the old 1922 company and thus revive it.