IIRC, the JR1 initial hearing had an identical outcome to this. What happened next? Sisu appealed in writing against this "no JR" verdict, were declined, appealed for an oral hearing at the high court, this was accepted - at the oral hearing, they overturned the initial decision not to hold the JR.....and the whole thing went through several identical phases right through the court system until the supreme court finally killed it. This may well not be over yet.
I thought that JR1 was far more likely to succeed than JR2 (although I did think that JR1 was a pretty long-shot too). I guess Sisu agreed with that, as otherwise why not go with JR2 first? For JR2, there just didn't seem to be any sort of case. As above though, that didn't stop them dragging out JR1 for years....this may well run and run. This is why I haven't broken out the champagne yet (I wouldn't celebrate a council victory, just a SIsu defeat for the twin reason is that their behaviour makes them deserving of every off-field defeat they get, and each such defeat makes it less likely they'll stay on as CCFC owners when all this is said and done).