Liverpool Takeover Thread
- Thread starter antijoke
- Start date
Soldato
I'm an ambitious kind of guy, let's make it happen.judge says resolution this week "ambitious"
Assuming there are potential bidders willing to buy the club with a potential 9 point deduction then yes it would.
However once we're in administration there are no guarantees RBS would be fully repaid so its in their interest to get a deal done without placing the club in administration.
Associate
Almost sounds like if Hicks wins, the bank can take the club in lieu of the debt.
Lord G stands down, RBS's QC now back to the floor:
4.27pm: RBS QC: "RBS is a lender that deserves to be repaid £200m on Friday. It is wrong of Hicks and Gillett to try and delay that process."
4.25pm: QC for RBS says bank has been willing to wave "tens of millions of pounds in fees" to see a sale go through. Also dismisses G&H claim that there is no actual 15 October deadline with the Bank as part of their "game".
No idea what these 'Fees' are.
4.27pm: RBS QC: "RBS is a lender that deserves to be repaid £200m on Friday. It is wrong of Hicks and Gillett to try and delay that process."
4.25pm: QC for RBS says bank has been willing to wave "tens of millions of pounds in fees" to see a sale go through. Also dismisses G&H claim that there is no actual 15 October deadline with the Bank as part of their "game".
No idea what these 'Fees' are.
While we wait for the next update from court, what does it mean if the court doesn't make its decision today, or indeed, this week (as seems distinctly possible given Mr Justice Floyd's recent comment)? Reuters says this:
If the Oct. 15 deadline for a refinancing of Liverpool's debt is missed, lawyers believe RBS could take control of the club and conduct the sale itself.
That could result in the holding company of the five-times European champions briefly being put into administration, which would result in the points deduction under Premier League rules.
If the Oct. 15 deadline for a refinancing of Liverpool's debt is missed, lawyers believe RBS could take control of the club and conduct the sale itself.
That could result in the holding company of the five-times European champions briefly being put into administration, which would result in the points deduction under Premier League rules.
Fees (that H&G are personally liable for) attached to the last refinance in April. Reportedly as much as ~£40m.
4.34pm: Our reporter on the spot, Sachin Nakrani summarises from court:
RBS says owners have contradicted rules of sales agreement by trying to oust two members of the board and there should be a mandatory injunction imposed by the court to make sure the board is reinstated.
G&H admit they have breached sales agreement but say they only did it because the board excluded them from the sales agreement and refused to take into account stronger alternative bids to NESV. As a result, they dispute the injunction claim.
The Board disputes the claim that the owners were excluded from the sales agreement and says that instead the owners simply refused to take part. It also insists the NESV bid was the strongest on the table after a thorough process to find a buyer for the club.
RBS says owners have contradicted rules of sales agreement by trying to oust two members of the board and there should be a mandatory injunction imposed by the court to make sure the board is reinstated.
G&H admit they have breached sales agreement but say they only did it because the board excluded them from the sales agreement and refused to take into account stronger alternative bids to NESV. As a result, they dispute the injunction claim.
The Board disputes the claim that the owners were excluded from the sales agreement and says that instead the owners simply refused to take part. It also insists the NESV bid was the strongest on the table after a thorough process to find a buyer for the club.
Oh right. Cant imagine the tax-paying public are very happy about that.
The could put the holding company into administration and sell it off itself or they could hold fire until this case and all other avenues to oust H&G are exhausted.
It's almost certain that they'll wait until all the legal matters are heard.
Soldato
I've got a good idea who's going to be on the top of most people’s bonfire on Merseyside this Guy Fawkes Night.
Not just on Merseyside....globally!!!!
#Danroan
judgement will be at 10.30am tomorrow
Confirmed! Guardian blog:
4.48pm: JUDGEMENT ON THE CASE IS TO BE GIVEN AT 10.30AM TOMORROW (WEDNESDAY) MORNING
This can only be good news, imo! To have gone from 'judgement unlikely' to 'Judgement tomorrow' after hearing Lord G and RBS's QC this afternoon, surely means a win is on the cards?
judgement will be at 10.30am tomorrow
Confirmed! Guardian blog:
4.48pm: JUDGEMENT ON THE CASE IS TO BE GIVEN AT 10.30AM TOMORROW (WEDNESDAY) MORNING
This can only be good news, imo! To have gone from 'judgement unlikely' to 'Judgement tomorrow' after hearing Lord G and RBS's QC this afternoon, surely means a win is on the cards?
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Soldato
Well if the case goes the way of RBS great. If doesn't they should go straight for administration.
Fingers crossed my friend, fingers crossed!