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The proceeding would have been heard by an S.E.C. administrative law judge in Washington.
Mr. Isherwood said today that a bankruptcy proceeding "would have served the interests of neither the company nor its creditors".
Although initially acquiescing in this strange procedure, Buckland subsequently objected in the strongest possible terms, pointing out – correctly – that the proper way of proceeding would have been to refer the scripts to the relevant external examiner.
The court ruled in 1985 that "evidence is material only if there is a reasonable probability that, had the evidence been disclosed to the defense, the result of the proceeding would have been different".
The question for the justices was only whether the failure mattered — that is, in the words of a 2009 decision, whether "there is a reasonable probability that, had the evidence been disclosed, the result of the proceeding would have been different".
Since this disobedience of the order did not take place in the actual presence of the court, and thus could be made known to the court only by the taking of evidence, the proceeding would have been conducted upon notice and hearing in conformity with Rule 42(b).
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Half the proceeds would have gone to reducing the debt, the other half for transportation.
The obvious way to proceed would have been through an auction based on sealed bids.
The anticipated proceeds would have allowed the city to erase a good chunk of this year's deficit, Mr. Philbin said, but any sale is now unlikely before next year.
She and other dissidents said they were convinced that the current officers and directors preferred selling the birds because those proceeds would have no strings attached.
Voting to proceed would have been only a very early step along the way, but evidence that drilling and prospecting would have brought roads and temporary settlements to some of the UK's loveliest countryside left many aghast.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com