wiccan,
The point of the article is that MME mgt have lost a fortune on the legal case - this is in addition to the business losses due to falling pax figures.
CC, I think the probs at CVT were down to too many changes in management, and lack of local government support, rather than rapid expansion on its own.
In either case though, hevy legal fees have been involved in defending the airports' positions. CVT drove themselves into a corner, and have now given up on pax - this is a great shame, but following FR's takeover of a lot of former BACON slots at BHX, together with suitability questions over CVT's runway & 737-800s, I guess they ran out of options.
MME must be a natural base for FR, surely £1m would have been better allocated doing a deal with MOL to take a based a/c or two, and divert any possible growth from NCL.