The BBC's Robert Peston really is worth his weight in gold when complex business issues like this arise.
http://news.bbc.co.uk/sport1/hi/foot...ol/9080946.stm
He seems to have dug up a Texan legal expert called Tom Cruise to offer an opinion.
... which, incidentally, is along the lines of 'Hicks and Gillett haven't got a leg to stand on, even in Texas.'