Ten's real life Survivor show in court

So you can understand why Ten boss, Paul Anderson, is juggling like crazy while the NSW Supreme Court decides the future of the rescue deal from US media giant, CBS.

The David and Goliath battle resumes in the Supreme Court on Tuesday with Ten investors - Yunfeng Du and David Gubbay - attempting to go where Lachlan Murdoch and Bruce Gordon feared to tread and actually stop the deal.

They have to prove their shares still hold some value, which is not doing Anderson any favours.

The Ten boss filed an affidavit earlier this month in response to the duo's attempt to delay Tuesday's hearing. Team Ten had to convince Justice Ashley Black that Ten's financial future was more important than Du's deadline issues as a third-year law student with two assignments to submit and a final exam "before mid-November".

It worked.

"Delay in the matter may have an impact on its programming, advertising sales and revenue in the 2018 year, and potentially on its wider business," said Justice Black in his judgement.

But the judge also revealed some interesting tid bits from Anderson's affidavit that showed how little margin error there is for Anderson, even though Ten won the judgment to keep the current hearing schedule.

Justice Black noted that Ten "will shortly hold an annual event which is directed to promoting program content for the 2018 year and securing advertising commitments".

The big event is scheduled for next Thursday, November 9, which will be "ambitious" - Justice Black's words - given the hearing could take days and then there is the wait for the actual judgement.

The announcement to the ASX on Monday, confirming Rupert Murdoch's 21st Century Fox had pulled its programming from Ten, highlights why removing this final hurdle is so important.

CBS is expected to open its content bucket to Ten when the deal is consummated and this "is likely to be a matter relevant to the advertising market" said the judgment with some understatement.

Where are Ten's camera crews when you need them, this is reality TV at its best.

Class action

We can finally pick some winners from the Slater and Gordon fiasco debacle, and it sure ain't shareholders.

The hired help will do much better, as always. The recapitalisation will attract fees of around $15 million, and no - unlike Slater and Gordon - the help are not operating on a "no win, no fee" basis.

Current investors will end up with less than 5 per cent of the legal group if the deal is approved, which means even the former boss Andrew Grech will struggle to end up with a marketable parcel of shares in the new and improved, Anchorage Capital-controlled, Slater and Gordon.

"Regrettably the interests of existing shareholders will be significantly diluted and I and the board are deeply sorry for this," said Slater's chairman, John Skippen - who was in charge when the board approved the company-killing deal to acquire UK-based Quindell.

One of the few bright spots for investors is that they will be able to vent their frustrations by voting against his re-election as chairman at the shareholder meeting.

Board room

Billionaire Solomon Lew is now pressuring Paul McClintock's Myer with the threat of legal action if it does not reveal all - in terms of financial results - at its investor day this week.

Let's hope Myer's board get up to speed on their numbers by then.

In its latest missive aimed at Lew's crew, Myer claims that he is trying to control 43 per cent of the non-executive board seats with just 10.77 per cent of the issued stock.

Now, if we exclude McClintock and other boardroom departees, we are left with seven non-exec directors at Myer.

Let's be charitable and say Lew does actually control all three appointees he is recommending. That gives him three out of ten board seats - or 30 per cent of the board.

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