Dippers takeover blocked

[brite blu sky]

Unbelievable twist now...apparently 'Mill Financial' an American consortium backed by unknown foreign interests have bought all of Gillet's shares after already aquiring Hicks

Rumour has it the mysterious benefactor is Kenny Huang hahahaha

You couldn't make it up!

http://www.liverpoolecho.co.uk/liverpoo ... -27471097/

Bizarre to say the least. We are deep in the corporate law here and it's not exactly my speciality but didn't Premier League prohibit these "consortium own umbrella company who own investment company registered in Cayman Islands who own three companies concentrating on sports who each have shares to company that buys the football club" deals? Any which way sounds dodgy as fuck. And that Kenny Huang feller is nothing but pretender among the billionaires who own top football clubs.

It's so complicated that I wonder if the RBS can justify giving them an extension on their deadline or whether the correct course of action from their shareholders point of view is to call in the money right now & deal with the rest later if the club/owners can't pay? After all, the financial obligation will be clear, so whoever owns the club isn't the concern for RBS, it's just getting their money back that matters to their shareholders, not what becomes of Liverpool. The shit could really hit the fan for Liverpool here.

The key to what happens now rests with RBS, ironically they used the argument that the loan urgently requires payment as the main pillar to secure the High Courts decision to allow the sale, so if they now grant an extension it really will smack of double standards.. while that may be fine with RBS it will not go down well with the courts. Other interested parties could use that as a basis for another action. It seems that RBS have been doing deals with the Directors to assure that the money from the sale went firstly to them and not other investors and shareholders. There are some smoke and mirrors here that due to the Texas action seem like they may now come to light as RBS wriggle to remove the rod they themselves placed on their back.

All eyes on RBS.. are they legally required to call in the debt?

[Beeks]

The key to what happens now rests with RBS

Not really no

They are not there by choice and if Hicks can raise the money to pay them off by tomorrow they are not arsed where it comes from...hence the apprehension from the scouse fans that he will somehow find the money...if this happens...RBS will no longer be a player...Hicks will throw the board out and install his family...then they will carry on attempting to find a buyer that meets his valuation

[Ted Hughes]

The key to what happens now rests with RBS

Not really no

They are not there by choice and if Hicks can raise the money to pay them off by tomorrow they are not arsed where it comes from...hence the apprehension from the scouse fans that he will somehow find the money...if this happens...RBS will no longer be a player...Hicks will throw the board out and instill his family...then they will carry on attempting to find a buyer that meets his valuation

Sounds good to me.

[Dameerto]

I don't think it actually IS complicated to be honest - H&G didn't have enough time to manufacture evidence for the English court so are trying everything they can to delay things while they fabricate something for the US court. They'd have flagged up anything blindingly obvious at the English hearing if the board had done anything wrong. My bet is they have a legal team frantically going through things trying to find some technicality before the 24th.

[Craig B]

I'm just desperate for them to go into administration - wouldn't that be hilarious! Liverpool on minus points at the bottom of the table - a long time in coming! I'd love to see it happen!

[brite blu sky]

The key to what happens now rests with RBS

Not really no

They are not there by choice and if Hicks can raise the money to pay them off by tomorrow they are not arsed where it comes from...hence the apprehension from the scouse fans that he will somehow find the money...if this happens...RBS will no longer be a player...Hicks will throw the board out and install his family...then they will carry on attempting to find a buyer that meets his valuation

This very true, but relies on Hicks getting the money together, which im not sure sounds plausible.

[The Man In Blue]

Unbelievable twist now...apparently 'Mill Financial' an American consortium backed by unknown foreign interests have bought all of Gillet's shares after already aquiring Hicks

the story is Mill F lent the money to Gillett when he bought his stake in the club, and have taken control of his shares after he defaulted on payment.

So - who actually owns Liverpool? Cos if it's Mill Financial, I'm pretty sure they ain't passed a "fit and proper persons test".

[Beeks]

Unbelievable twist now...apparently 'Mill Financial' an American consortium backed by unknown foreign interests have bought all of Gillet's shares after already aquiring Hicks

the story is Mill F lent the money to Gillett when he bought his stake in the club, and have taken control of his shares after he defaulted on payment.

So - who actually owns Liverpool? Cos if it's Mill Financial, I'm pretty sure they ain't passed a "fit and proper persons test".

Apparently a spokesman for Hicks has advised that he has not sold his shares to Mill so he still owns 50% of the club. I'm pretty sure Gillett has though

[The Man In Blue]

Unbelievable twist now...apparently 'Mill Financial' an American consortium backed by unknown foreign interests have bought all of Gillet's shares after already aquiring Hicks

the story is Mill F lent the money to Gillett when he bought his stake in the club, and have taken control of his shares after he defaulted on payment.

So - who actually owns Liverpool? Cos if it's Mill Financial, I'm pretty sure they ain't passed a "fit and proper persons test".

Apparently a spokesman for Hicks has advised that he has not sold his shares to Mill so he still owns 50% of the club. I'm pretty sure Gillett has though

the point I am interested in is the "fit and proper persons" test. If Mill now own Gillett's shares, that makes them a major shareholder/owner of the club.

anyone up on FA rules about an individual/organisation owning a club without passing the "fit and proper" test?

[Ted Hughes]

Isn't it wonderful that stuff's happening..but not to us??! Just think, next season we may be able to pat Liverpool fans on the head & tell them we always had a soft spot for them, chuck in a few humourous Liverpool related anecdotes & hope they 'do us a favour beating the rags' etc etc..

[brite blu sky]

Isn't it wonderful that stuff's happening..but not to us??! Just think, next season we may be able to pat Liverpool fans on the head & tell them we always had a soft spot for them, chuck in a few humourous Liverpool related anecdotes & hope they 'do us a favour beating the rags' etc etc..

Indeed, but not sure it is necessary to wait till next season.. seems to me it is already pretty much the case. Scouce1 fans i know here are already professing hatred of City, although they admit it is based in jealousy. My reaction has been as you describe above.. the look on their faces says it all.

[john68]

Maybe as both the Scousers and the rags fade away because of their own financial mismanagement, they will still be able to continue their rivalry...in some lower division. They could even have songs comparing who owes the most. That would be nice for them.

[Mark (Blue Army)]

Maybe as both the Scousers and the rags fade away because of their own financial mismanagement, they will still be able to continue their rivalry...in some lower division. They could even have songs comparing who owes the most. That would be nice for them.

I like the sound of that

[patrickblue]

Maybe as both the Scousers and the rags fade away because of their own financial mismanagement, they will still be able to continue their rivalry...in some lower division. They could even have songs comparing who owes the most. That would be nice for them.

Now that would be something special, playing their "local derbies" in the conference (north).

[Socrates]

Doesn't matter where Liverpool is, the company buying them is a US company so can be restrained, also RBS has significant assets there which are in reach of the courts.

It's only a temporary injunction until a hearing on the 25th but if the Hillbillies have evidence of their allegations that the Chairman hasn't attempted to get the best price for all creditors, including the shareholders, and even more specifically, their allegation that RBS instructed him that they would only a sanction a sale that didn't give any return at all to shareholders then there is a huge can of worms opened that could run for some time.

BUT, if the club is /ends up in administration, wouldn't the administrators be able to sell the company? Or am I wrong here mate?

Appears to me that the temporary restraining order specifically prevents acts of foreclosure in its wording Antti. Even if the High Court in London rules differently at 5pm today, it is difficult to see how RBS can act when they could be found contempt in Dallas and have assets in the US that a court there could act against if imposing a heavy fine. Equally cannot see how John Henry's company can dare to act as a purchaser, way too risky for them until such time as the injunction is lifted.

[Beefymcfc]

And they say we're ruining football, look no further than those from across the pond.

[Mark (Blue Army)]

SSN BREAKING NEWS: The High Court has ruled in favour of Liverpool against the injunction gained by owners Tom Hicks and George Gillett.

[ronk]

Maybe as both the Scousers and the rags fade away because of their own financial mismanagement, they will still be able to continue their rivalry...in some lower division. They could even have songs comparing who owes the most. That would be nice for them.

I suspect you'd be overestimating the quality of their respective senses of humour.

[Blue Since 76]

Having watched Portsmouth and now this, how did we manage to find an extremely rich man willing to buy a club without announcing it to the press first?

For once, we were not typical City.

[The Man In Blue]

Having watched Portsmouth and now this, how did we manage to find an extremely rich man willing to buy a club without announcing it to the press first?

For once, we were not typical City.

It kind of was typical City though eh - months of "City are DOOMED" stories, claiming we had fuck all money to pay anyone and were weeks away from administration then "actually, we've just been bought out by one of the world's wealthiest men".