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Stilly
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The injunction just given. RBS asked for an injunction preventing any action from outside the UK courts, because it's got nothing to do with them. They could return the favour, but I don't see anyone taking any notice. The original request seems to have been on very shakey ground from the start

BUT! See, I'm confused too. Surely you don't need an injunction to prevent action from outside the UK. Either the action is legal or it isn't. I'll be honest, I am NOT a lawyer along the lines of that guy in the film Changing Lanes. Surely we now have to hear if the American judge conceeds?

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This is all a bit confusing. Surely they're now just back in the same position as yesterday.

Basically, yeah.

The Texas injunction was apparently granted without prior knowledge of the proceedings at the High Court yesterday. I imagine RBS only entertained the injunction so as to avoid compromising any business relationships they may have within the state. Now we're in a situation where the High Court has, in effect, overturned the injunction they were granted yesterday - it doesn't affect yesterday's ruling and the sale can go ahead.

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What if they just get an injunction blocking the injunction that blocked their injunction?

They can't. The injunction they managed to get was granted without the court being aware of the High Court's ruling yesterday. They're not going to go against decades of legal precedent. I'll make it simple:

Today's ruling at the High Court: "Don't worry about the American court. Sell the club; if they come after you again, we've got your back".

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^_^

If I was a Texan judge whose time had just been wasted yesterday, I might want to add to their rapidly accruing legal fees and penalties. I'm sure dicking about like this can't be strictly within the rules. It's nice to see all their shit come back to haunt them, anyway. Why couldn't this have happened so publically and humiliatingly to Ken Bates, or the owners of Portsmouth, and so many others who've fucked over football clubs? Must be quite cathartic for the fans.

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One of the best things about this case is RBS's shameless irony in taking the moral highground against owners who gambled on success :lol:

Glad to see the owners are on their way out though and as Liamness says it's a shame other owners weren't hung out to dry in a similar way.

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Fantastic news today, hopefully this means we can get the club sold asap and get our focus back on the league and getting some much needed points.

Then maybe we can do this again sooner rather than later.

Just watched this video, still makes me have chills.

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So, current status:

The Texas court will reconvene at 1pm Uk time and the judge has apparently made it clear he wants it done with by the close of business.

Unfortunately all sorts of contradictory claims are being thrown around about possible outcomes by random lawyers and people who just fancy themselves as legal beagles. We could find everyone is in contempt of another court. Hicks and Gillet will be in contempt of the Uk courts if the American order isn't lifted by 4pm, they are apparently trying to argue the Uk Injunction against them is in contempt of the US courts.

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So, current status:

The Texas court will reconvene at 1pm Uk time and the judge has apparently made it clear he wants it done with by the close of business.

Unfortunately all sorts of contradictory claims are being thrown around about possible outcomes by random lawyers and people who just fancy themselves as legal beagles. We could find everyone is in contempt of another court. Hicks and Gillet will be in contempt of the Uk courts if the American order isn't lifted by 4pm, they are apparently trying to argue the Uk Injunction against them is in contempt of the US courts.

I almost hope they are held in contempt, arrested when they arrive in the country, and banged up in a Liverpool jail :coffee:

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As I think dogsout was saying, they can't actually buy Hicks' shares, as that would be classed as a sale and so contravene the Texan injunction at the very least. If Hicks has had loans from them and they're tied to all his shares in Liverpool, and he defaults on those loans, then Mill can take control (like what happened with Gillett).

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9.41am: "Mill opened talks with RBS am yesterday, offering to pay off #lfc's loan. On advice of its lawyers, RBS refused to take the money," The Times's Ben Smith tweets.
9.45am: Will US hedge fund Mill Financial scupper everything at the very last? The BBC is also reporting that "Liverpool co-owner Tom Hicks is attempting to hijack the sale of the club by offloading his stake in the Reds to US hedge fund Mill Financial...Hicks believes he can scupper those plans by selling to Mill, which assumed control of fellow co-owner George Gillett's 50% stake in August. It would then pay off the £237m debt owed to Royal Bank of Scotland (RBS)."

I really don't think he can just sell his shares as that'd need board approval surely? And we have a binding document with NESV.

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Hicks is a knob. He can sell any shares he likes in the holding companies but he can't do squat about his share of the club, as well as the fact that a change of ownership needs to pass PL guidelines. as piss as they are, it takes time.

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Hicks is a knob. He can sell any shares he likes in the holding companies but he can't do squat about his share of the club, as well as the fact that a change of ownership needs to pass PL guidelines. as piss as they are, it takes time.

What I don't quite understand is that if Mills already have control of Gillet's shares they already own part of the company (I assume Kop Holdings) anyway so how does that work? Unless Gillet defaulted on a loan that was used to pay the RBS loan or something.

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What I don't quite understand is that if Mills already have control of Gillet's shares they already own part of the company (I assume Kop Holdings) anyway so how does that work? Unless Gillet defaulted on a loan that was used to pay the RBS loan or something.

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What I don't quite understand is that if Mills already have control of Gillet's shares they already own part of the company (I assume Kop Holdings) anyway so how does that work? Unless Gillet defaulted on a loan that was used to pay the RBS loan or something.

Yeah, that's how. I think.

This isn't getting any easier or clearer :wacko:

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Reports claim Tom Hicks and George Gillett have now lifted the restraining order preventing the Royal Bank of Scotland from completing the sale of Liverpool.

The news would mean, theoretically, that New England Sports Ventures should be able to complete the takeover on Friday.

ESPNsoccernet understands NESV have a banker's draft ready to dispatch to RBS before the 1700 BST deadline on Friday to erase any lingering concerns about Liverpool going into administration.

However, the early lifting of the injunction could also be because Hicks and Gillett are keen to push through a deal via Mill Financial. Indications are, though, that RBS has been advised against accepting Mill Financial's offer to pay off its debts, which have risen to £280 million.

All NESV have to do is click the 'Confirm' button and we should be sorted. :unsure:

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Looking back at some of my posts in this thread, I'm pretty ashamed. As much as I would still laugh should Hicks meet a sticky end - financially or otherwise - to broadcast it so angrily, well, it might only be on a gaming forum but given that it couldn't be further from the 'real' me, it freaks me out a bit, especially when it's about something like football, which is a great passion but still relatively inconsequential. So I've asked for my account to be sent the way of the dodo. Seven years is far too long to spend on one forum, anyway. :)

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