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The final chapter in the Sony BMG merger story could be written as early as this summer after the Court of First Instance (CFI) fast-tracked Impala's case challenging the European Commission's decision to allow the majors to combine.
Impala has scored a rare victory in its legal proceedings--started earlier this year--to unravel the merger by persuading the Luxembourg court to "expedite" case number T464/04.
Now the Brussels-based indie trade body is expecting imminent notification from the CFI on the date for a court hearing and is hoping that the ease can be put before judges by the summer recess in July.
Impala deputy secretary general Helen Smith says the fast tracking of its case against the EC decision means the procedural process will be slashed by months, if not years. Since the CFI began its fast tracking procedure in 2000, only around a dozen of about 2,000 cases it has processed since then have been moved to the top of the pile. The CFI says it will only expedite if the party applying demonstrates it is an "extremely urgent" case. "We are delighted; it's good news," says Smith. ...