RBS: “RBS is aware of reports that Mr Hicks and Mr Gillett may intend to pursue further litigation in relation to the sale of Liverpool F.C. The English Courts have described claims made to date as ‘not realistic and abusive’. Any further claims against RBS will be vigorously opposed.”
Hope RBS take em to the cleaners, sue for a figure like, i dont know ... $1.6 billion ?
Apparently so, that was one of the conditions the board imposed.
Time will tell if they can resists using the club to leverage debt at a later date.
Wont happen, doesn't need to happen. Any (Major) loans will be secured against NSEV as a whole (their baseball team, TV station, horse racing establishment amongst others) and thus the club wont have to suffer the burden at all.
-edit-
http://www.skysports.com/story/0,19528,11669_6446564,00.html
Duo to drop damages claim
An attorney for Tom Hicks and George Gillett claims the duo are set to drop their £1billion lawsuit.
The American pair were planning to seek $1.6billion in damages following the contentious sale of Liverpool Football Club against their wishes.
John W Henry's New England Sports Ventures took control of the Reds on Friday, put the finishing touches to a £300million deal.
Hicks and Gillett, co-owners at Anfield since 2007, had opposed that deal as the offer fell some way short of their valuation of the club.
However, their efforts to block the bid were scuppered when a High Court ruling sided in favour of their creditors, the Royal Bank of Scotland.
Hicks and Gillett initially refused to accept their fate, though, and took their fight to the courts in the United States, obtaining a restraining order blocking the sale in a Texas court.
They do, however, appear to have now accepted that they are fighting a losing battle and are prepared to drop their damages claim.
Attorney Tom Melsheimer said that Hicks and Gillett were dropping the claim to comply with an English court order.
He did, however, say 'a different picture will be painted when the English court has a chance to hear all the facts', suggesting the fight is not over yet.