fjencl
I think that article made me more confused than anything, seems to jump around a bit with the timeline. (Maybe it's just me and my brain turning to mush during furlough....!)
My understanding was the EU had awarded the old Flybe (now FBE Realisations) the grandfathering rights on the slots. This has been challenged by IAG.
The CAA had also revoked the old airline's OL, which Thyme OpCo wanted transferred to their new airline. Thyme Opco (Now Flybe Ltd) have appealed that decision. The old airline's OL remains valid until the appeal has been heard and the decision overturned or ratified.