John Textor obtained a victory in London courts this Wednesday. The UK's Supreme Court granted an injunction preventing Cork Gully LLP, the court-appointed administrator of Eagle Bidco, from selling, transferring, or altering control of 90% of the SAF shares of Botafogo. The decision would maintain protection of the shares while proceedings advance in Brazil.
In Textor's view and his defense, the decision is significant because it compromises the sale of Botafogo's SAF to GDA. According to the English ruling, any measures that may reduce the value of Botafogo's shares or assets are also prohibited.
The social club, however, has the opposite interpretation. According to the article, it was Botafogo itself that filed a motion in Brazilian courts requesting that Cork Gully not sell the shares if it was not to the club.
Non-compliance with the court order may result in sanctions. The dispute over control of Botafogo's SAF continues to proceed simultaneously in Brazilian and international courts.
