Meanwhile, at the Hellfire Club, Magneto and Shaw argue, with bonus punching. Shaw blames Magneto for the events of Inferno, which on the one hand is a bit harsh (he never asked for the job). But I kind of see Shaw's point. Magneto has been weak and ineffectual: he was brought in so the Hellfire Club could work through him to form an alliance with the X-Men and the New Mutants; and now what?
The New Mutants have decided to abandon Magneto and possibly join X-Factor permanently, and so turn up at the mansion to give him his notice. Unfortunately, it's been destroyed, as we find out in #75. They rescue a survivor from the wreckage: Sabretooth, which is a bit of an unlucky catch for them. Soon enough the Inner Circle of the Hellfire Club turn up. Magneto's first wants to find out what's going on with Illyana. Given his previous experience as a baby it's no wonder he quickly accepts that she has become a 6-year-old.
Shaw continues angry, and him and Magneto continue their "discussion". Magneto makes all sorts of outlandish claims to try and get Shaw on side, like saying he was in charge of the X-Men (he really wasn't), and that the reformation was just an act and he had been plotting to use the New Mutants as minions. I'm not sure how much of this is nonsense he's making up on the spot, and how much is a real undermining of Magneto's purported change of heart. The discussion here is notable for being the first mention of Genosha in Magneto's presence : the fact that it is a mutant-based economy is taken as read by everyone.
Fighting comes to a standstill and the matter is decided by the votes of the White Queen and the Black Queen, who both stab Shaw in the back: Emma ostensibly because she'd disagreed with the Sentinels project (fair enough, but bit too late now!); and Selene because she wants a free hand in South America. Shaw flees, vowing revenge, and the club decide not to elect a new Black King. Instead, Magneto becomes Grey King, representing new morality (even though like the Black and White was nothing to do with that, but whatevs). It's hinted that he and Emma will seek to depose Selene eventually. Magneto then accepts the resignation of the New Mutants, wishes them well and hopes they will join him in the coming race war.
Illyana says "Нет, мие зто ие иравится". Joe Rosen (or possibly whoever fed Joe the text) has made a mistake here: it should be "Нет, мне это не нравится" - i.e. he has substituted и (I) for н (n). This means "No, I don't like it". She also says "Меня зовут Illyana", which does indeed mean "My name is Illyana".