KEY POINTS:
The Court of Appeal has ended sharemarket hopes of a swift finish to the legal wrangles over ownership of The Warehouse Group.
The Warehouse said yesterday the Court of Appeal would hear an appeal by the Commerce Commission on April 29.
The commission had banned the sale of The Warehouse to Woolworths or Foodstuffs saying it would harm competition. But its decision was overturned by the High Court last year.
Last week in allowing the appeal on her own decision, High Court Judge Jill Mallon had said it was under the condition that the case was heard urgently.
She rejected a Commerce Commission request that prevented a sale until April and limited the period restricting any bid until February 29.
That led to sharemarket analysts predicting an early hearing, and suggestions that the row might be resolved by next month boosted the value of the share price.
But senior legal sources questioned the validity of the condition.
The question now is whether the two potential bidders for the Warehouse wait for the completion of the hearing before launching any bid or whether they make a move after the ban on bidding ends on February 29 and before the hearing on April 29.
Any bid would be controversial. It would need the backing of the Warehouse Group's majority shareholder, Steven Tindall.
Warehouse shares closed up 5c yesterday at $5.90.
