Loral, which didn't return calls seeking comment, has said that a committee of unnamed directors, independent of MHR, negotiated the deal.

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In the case of the unnamed 21-year-old, known as "T", he had been forced to reveal he had received warnings from Manchester Police in connection with two stolen bikes.

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"Everyone got carried away in 2009 and the prices haven't come down, " says one courtier, who wished to remain unnamed.

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