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Old 13th October 2010, 06:47 PM   #1 (permalink)
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Liverpool owners lose case in High Court

Liverpool have moved a step closer to being sold to the owners of the Boston Red Sox, following a High Court ruling.

Mr Justice Floyd ruled Americans Tom Hicks and George Gillett have no power to stop their boardroom rivals, who sanctioned the sale last week.

The board agreed to sell the debt-ridden Premier League club to New England Sports Ventures for £300m.

But the current owners, who bought the famous Anfield club in March 2007, claim the price undervalues the club.

Hicks and Gillett had asked to delay the hearing of an application by creditors Royal Bank of Scotland (RBS) for mandatory orders, paving the way for a possible sale this week.
But the plea was rejected by the judge, and at RBS's request the court imposed injunctions on the two men requiring them to restore the original constitutions of the companies and managing directors.

Pending any appeal, this removes the final stumbling block to the takeover by NESV, which will allow RBS to recoup its original £237m loan to Hicks and Gillett.

Liverpool chairman Martin Broughton, for whom Wednesday's ruling is a significant victory, had consistently claimed that when the owners decided to put the club up for sale in April, RBS requested undertakings from them that only he - as independent chairman - could make changes to the club's board.

However, minutes before a meeting last week to discuss the bid by NESV, Hicks tried to sack Purslow and Ayre and install his son, Mack, and Lori McCutcheon, who works for Hicks Holdings.

Broughton rejected the proposal and continued with the meeting, with the England-based board members coming down in favour of the NESV bid.

In court, Philip Snowden QC, for RBS, had told Mr Justice Floyd that Hicks and Gillett were committing "a calculated breach of contract" by seeking to change the constitution of the board without the consent of the bank.

http://news.bbc.co.uk/sport2/hi/foot...ol/9080946.stm

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Old 13th October 2010, 06:54 PM   #2 (permalink)
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Re: Liverpool owners lose case in High Court

Lose 144M pound, told not appropriate to appeal, told to pay charges RBS court proceeding...
Happy Days!!! Ya!!

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Old 13th October 2010, 07:02 PM   #3 (permalink)
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Re: Liverpool owners lose case in High Court

It's a happy day for liverpool! Freedom from darkness!

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Old 13th October 2010, 07:12 PM   #4 (permalink)
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Re: Liverpool owners lose case in High Court

haha~Shitty H&G...So broke already still want to court ,now lose still try to appeal,but fail ...haizyo!

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Old 13th October 2010, 07:15 PM   #5 (permalink)
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Re: Liverpool owners lose case in High Court

So will the club be sold to SG Peter Lim?

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Old 13th October 2010, 07:19 PM   #6 (permalink)
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Re: Liverpool owners lose case in High Court

Originally Posted by Peuan Sanit View Post
So will the club be sold to SG Peter Lim?
nah. I don't want it to be on the hands of a man utd fan.

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Old 13th October 2010, 07:20 PM   #7 (permalink)
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Re: Liverpool owners lose case in High Court

Unlikely to be sold to Mr Lim.

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