Royal Bank of Scotland PLC v Hicks & ors is currently being heard at Room 16 of the High Court in London. ( October 12, 2010).
Hicks and Gillett have argued that the other board members ( Christian Purslow, Broughton and Ayre) erred by not considering other bids and directly accepting the £300m from NESV. Hicks and Gillett have however admitted that they have breached their contract with RBS. Their lawyer has also rubbished claims of an October 15 deadline ( Friday) and says that the two parties are locked into an agreement till November 1.
Read the case on the Guardian .