Liverpool Takeover Thread

Greenlizard0 · 13 Oct 2010 at 22:42

http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9077048.stm

edit - http://www.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9080946.stm

Just breaking the BBC.

Interesting point maybe, whose local law applies here? The parent company (USA) or UK? Since the 'sale' is from one American body to another would US law only apply?

Alpherah · 13 Oct 2010 at 22:45

Again, its not a US body. The only "US" portion of LFC is Kop Cayman which was registered in Delaware. And only exists as a means to avoid taxation on the movement of money.
The club is UK, its holdings company is UK. Kop Cayman isn't even part of the sale process.

Greenlizard0 · 13 Oct 2010 at 22:47

I see.

Well, you can't blame them for not trying. I think we all would for that amount of money.

Burned_Alive · 13 Oct 2010 at 22:48

Reading the TRO, the basis of the claim is that the board (Broughton essentially) had no right to sell the club because Purslow and Ayre had been removed from the board at that time. And this is exactly what was ruled on in court today, so I dont see how it can stand up.

shine · 13 Oct 2010 at 22:48

Greenlizard0 said:
http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9077048.stm

Just breaking the BBC.

BBC have updated the link to :

http://www.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9080946.stm

Naan_H · 13 Oct 2010 at 22:50

check this out:

http://twitter.com/john_w_henry

does that mean the sale has gone through (according to his twitter) ?

OriginalJonty · 13 Oct 2010 at 22:51

shine said:
BBC have updated the link to :

http://www.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9080946.stm

Over £1 billion in damages? What are Hicks and Gillett smoking?

Jokester · 13 Oct 2010 at 22:52

Alpherah said:
Again, its not a US body. The only "US" portion of LFC is Kop Cayman which was registered in Delaware. And only exists as a means to avoid taxation on the movement of money.
The club is UK, its holdings company is UK. Kop Cayman isn't even part of the sale process.

The company that owns everything (Kop Football LLP) is an American registered company.

shine · 13 Oct 2010 at 22:53

Naan_H said:
check this out:

http://twitter.com/john_w_henry

does that mean the sale has gone through (according to his twitter) ?

That's from 12 hours ago when the High Court decision was announced.

Alpherah · 13 Oct 2010 at 22:53

The other interesting facts about the Temp restraining order is how messy it was put together.
Lots of spelling mistakes (And i mean real ones, not just 'americanisms), hand-written amendments and additions to sentences.
Not to mention an entire segment deleted completely (This part usually prevents counter-court action) meaning RBS could counter-claim/sue if they wanted.

It looks like Hicks threw it together in 15 mins and got a random judge to sign it, seriously.

Naan_H · 13 Oct 2010 at 22:54

shine said:
That's from 12 hours ago when the High Court decision was announced.

oops my bad (said updated 5 seconds ago ). apologies

Alpherah · 13 Oct 2010 at 22:57

More:
Apparently, this is all possible because RBS has significant dealings in Texas.
And Hicks hopes to have RBS in contempt of US court.

-edit-
Heard they thousands of US reds will try a class action suit vs Hicks for stress and loss of earnings. Lol
Pathetic? yes.
More pathetic then Hicks attempts? not really, and could be entertaining at least.

Kemik · 13 Oct 2010 at 23:05

Alpherah said:
Again, its not a US body. The only "US" portion of LFC is Kop Cayman which was registered in Delaware. And only exists as a means to avoid taxation on the movement of money.
The club is UK, its holdings company is UK. Kop Cayman isn't even part of the sale process.

Woh, woh, woh. Tax avoidance is a bit of a heavy word to use. The company who provide the tax compliance for Kop Holdings don't endorse tax avoidance. Most of the LFC companies are dormant or losing money to be honest.

Jokester · 13 Oct 2010 at 23:06

Alpherah said:
Heard they thousands of US reds will try a class action suit vs Hicks for stress and loss of earnings. Lol
Pathetic? yes.
More pathetic then Hicks attempts? not really, and could be entertaining at least.

Hahaha, that would be amusing to see.

Alpherah · 13 Oct 2010 at 23:07

Its a company on the Cayman islands. Just like Chelsea have one

and United .. and most major companies.
Its all down to tax. Not because it makes a nice holiday destination.

Raymond Lin · 13 Oct 2010 at 23:15

Kemik said:
Woh, woh, woh. Tax avoidance is a bit of a heavy word to use. The company who provide the tax compliance for Kop Holdings don't endorse tax avoidance. Most of the LFC companies are dormant or losing money to be honest.

They can avoid tax all they like, its legal.

You are thinking tax evasion ?

BaZ87 · 13 Oct 2010 at 23:19

Statement from Liverpool:

Following the successful conclusion of High Court proceedings today, the Boards of Directors of Kop Football and Kop Holdings met tonight and resolved to complete the sale of Liverpool FC to New England Sports Ventures.

Regretably, Thomas Hicks and George Gillett have tonight obtained a Temporary Restraining Order from a Texas District Court against the independent directors, Royal Bank of Scotland PLC and NESV to prevent the transaction being completed.

The independent directors consider the restraining order to be unwarranted and damaging and will move as swiftly as possible to seek to have it removed.

A further statement will be made in due course.

http://www.liverpoolfc.tv/news/latest-news/liverpool-fc-statement-5

aidan444 · 13 Oct 2010 at 23:19

Too slow.

BaZ87 · 13 Oct 2010 at 23:23

Nobody is safe until this **** is dead. Once this is resolved who knows what next he's got up his sleeve.

How Moores and Parry sold to him and how he could pass a fit and proper owners test, I'll never know.

Jimbeam3678 · 13 Oct 2010 at 23:26

In all seriousness I have no real interest in Liverpool FC but it really ***** me off when a court in the U.S of A is able to over rule a court in UK where the football club is based and plys its trade. It really does make me feel sick.

I know their US owners etc etc and I'm sure its all legal blah blah but I really do feel for the true Liverpool fans.