The language is pretty clear, this is only a filing and coinlab is wants to solve this. The filing is only to light a fire under mtgox and let coinlab reestablish control in the relationship. Clearly mtgox is being run by finance amateurs, Peter's press release read to me like "get your priorities in check, or deal with our wrath"... wonder what the politics behind the scenes looks like.. I think think will never go to court, and mtgox will end meet their contractual obligations ASAP.
Lawsuit is predatory and bad for bitcoin. It's extremely likely to be thrown out as soon as it gets a hearing. In a sane world there will then be a winning counter suit for damaged caused to mtgox by this lawsuit and coinlabs owners will become a non-issue forever after.
IMO coinlabs has already alienated most of its potential userbase with this sideshow (which was perfectly timed to stint the expected recovery of btc/usd rates after the banking holiday). Lucky for them btc isn't regulated or they'd be facing jail time and fines instead of simply losing their prospective business.
