Liverpool Takeover Thread

Wouldnt Mill Financial have to pass the Fit and Proper test before they could buy the shares, and give the premier league 10 days notice?
 
Yeah, but once the debt is paid off and hicks is the owner again then its possible.
Just needs a legal agreement that hicks wont back out of their deal.
 
xxalxx said:
Wouldnt Mill Financial have to pass the Fit and Proper test before they could buy the shares, and give the premier league 10 days notice?
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Surely as they already own 50% of the club they are exempt from this though?

Oh, and what a complete and utter **** Hicks is.
 
Back to the High Court then. I imagine that the argumenet will be fairly simple - The TRO was not legall binding as the court operated outside of its jurisdiction (and they only contested it as a courtesy), NESV have a legally binding contract (according to Henry) so in effect the club is no longer theirs to sell.
 
Tute said:
Forgive my question, but I don't really understand what H&G are trying to achieve.

a) The club is sold to NESV, H&G lose out and walk away with a massive loss.
b) They hold on until RBS puts the club into administration and hence take control of it, H&G walk away with a massive loss.

Are they really doing this just so that Liverpool will get a 9pt deduction? Because I can't see how they can keep control so surely all they can do is delay until RBS lose their patience?
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From the point of view of receiving an insurance payout, H&G have to lose the club in a certain way. That is probably what they are holding out for.
 
Hicks will not go quietly
Post categories: Football
David Bond | 08:36 UK time, Friday, 15 October 2010

It seems there is another dramatic twist in the extraordinary battle to buy Liverpool.

With club chairman Martin Broughton and the independent board of directors expecting a Dallas judge to lift the restraining order blocking the sale of the club to New England Sports Ventures, it looked like they were winning the fight for control of the Reds.

But the real reason for the Texas court action - described by one lawyer in the High Court on Thursday as so fanciful it read like a novel - was to buy Liverpool co-owner Tom Hicks enough time to do a last gasp deal with Mill Financial.

Mill already owns 50% of the Premier League club after assuming control of George Gillett's stake in August. Now Hicks, who is close to Mill, is trying to sell the other half to the American hedge fund, paving the way for it to pay off the £237m owed by Hicks and Gillett to the Royal Bank of Scotland. That money is due to RBS by the end of Friday.

Should Hicks succeed, an already complicated story will become even more bewildering.

NESV chief John W Henry has already tweeted he will fight what he described as the "last desperate attempt" by Hicks and Gillett to "continue their entrenched regime".

Henry still has a binding agreement with the Liverpool board to buy the club and will take legal action here in the United Kingdom if the deal with Mill Financial goes through.

There is one major stumbling block facing Hicks as he looks to retain his hold on Liverpool. Any prospective sale to Mill will have to be voted for by Broughton and English directors Christian Purslow and Ian Ayre. Given they outnumber the American co-owners, it seems difficult to see how Hicks can come out on top.

But it is impossible to predict what happens next with this story.
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Now that would be funny, fingers crossed its correct.

http://www.bbc.co.uk/blogs/davidbond/2010/10/hicks_refuses_to_go_quietly.html?
 
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Why the hell did the judge at the high court give them this much time. It was only going to result in more trouble. If after all this the club remains in the hands of Hicks it will spell the end of Liverpool. The fans are going to turn their back on the club, the players will leave, no one will sign.
 
There is one major stumbling block facing Hicks as he looks to retain his hold on Liverpool. Any prospective sale to Mill will have to be voted for by Broughton and English directors Christian Purslow and Ian Ayre. Given they outnumber the American co-owners, it seems difficult to see how Hicks can come out on top.
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xxalxx said:
Now that would be funny, fingers crossed its correct.

http://www.bbc.co.uk/blogs/davidbond/2010/10/hicks_refuses_to_go_quietly.html?
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Not true. If he can get Mill Finance to pay off the RBS debt Hicks can sack the board and do as he pleases.
 
Stretch said:
Not true. If he can get Mill Finance to pay off the RBS debt Hicks can sack the board and do as he pleases.
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Thats just the point though. Hicks cannot sell all his shares to Mill Finance without the boards approval, thats how things work in the UK. And who on the Liverpool board is going to say 'oh ok Tom, go ahead and sell to those guys over there.'

It is game over for Hicks & Gillet, they have nowhere to go.
 
Gilly said:
Why did they leave Broughton in place anyway?
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Who ? H & G ? They were given no choice it was a condition of their last extension from RBS that Broughton was appointed to the board and had the casting vote.

RBS didn't want H & G to be able to block any sale!
 
platypus said:
Thats just the point though. Hicks cannot sell all his shares to Mill Finance without the boards approval, thats how things work in the UK. And who on the Liverpool board is going to say 'oh ok Tom, go ahead and sell to those guys over there.'
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He doesn't need to sell to them. If they give him the money first and he pays off the loan then he owns the club and the agreement with RBS is void. He can then sack the board do whatever he likes.
 
platypus said:
Thats just the point though. Hicks cannot sell all his shares to Mill Finance without the boards approval, thats how things work in the UK. And who on the Liverpool board is going to say 'oh ok Tom, go ahead and sell to those guys over there.'

It is game over for Hicks & Gillet, they have nowhere to go.
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Surely Mill financial only have to buy the debt from RBS to get round this?
 
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