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  • OLD DOG OLD DOG Oct 11, 2010 23:54 Flag

    RBS wins injunction against Hicks and Gillett

    Royal Bank of Scotland says it has obtained an interim injunction preventing Liverpool co-owners Tom Hicks and George Gillett from sacking chairman Martin Broughton and two other board members.

    Broughton is trying to push through a sale of the club before Friday's deadline for a loan to RBS needs to be repaid. The chairman has a deal in place with New England Sports Ventures - the owners of Boston Red Sox - but Hicks and Gillett attempted to oust Broughton, managing director Christian Purslow and commercial director Ian Ayre as they felt the £300m deal does not meet their valuation of the club.

    A hearing is due to take place at the High Court in London on Tuesday, but RBS said on Monday it had secured an interim injunction for breach of contract.

    Hicks and Gillett agreed to RBS' demands in April to allow Broughton to have control of the sales process.

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    • hey guys im not all in sink with all this law stuff going on, have we a chance of getting h&g out with the courts as im a little confussed with it all? lfc till i die though the good times and bad Y.N.W.A

      • 1 Reply to voodoo_magic
      • Voodoo, basically comes down to who has control over the club, and can make the decision on accepting the offer from NESV.

        Broughton says he does based on agreements H&G have with him and RBS, so agreed to sell.

        Hicks says Brougton does not have control so is trying to sack the board members who agreed the sale.

        I think most think Broughton has the stronger legal case, although you never know. But either this week I think one of 3 end games will be in effect:

        1 - court throws out H&G, and NESV will be our new owners.
        2 - RBS calls the note on 15th and with or without administration (question mark there), RBS sells us to NESV
        3 - somehow H&G come up with enough money to pay off or keep RBS from taking over in which the saga continues.

    • Hopefully, this is another nail in their coffin. All we need now is the Judge to agree with us and we're rid of them! Happy days!

      • 2 Replies to eloader
      • Hear, hear !! Sooner we get back to talking about matters football the better.. Rather than legalities...

        However theirs another bone of contention thats the bid from Singapore.. Whose willing to outbid NESV.. So I wonder how badly NESV really want LFC?

        Boston Red Sox and "the Reds" of LFC sounds very poetic.. Could be a nice fit.. However do they have the capital to afford whats needed? ie new stadium (although the reports suggest they want to redevelop Anfield) , do they have the funds to bring in 3 world class players a season.. again I feel thats what required.. also on another point.. A world class manager to take us foward..

        if we have all those components.. Then we'll see a reversal of our fortunes.. I think we should expect Euroipa league football next season if we're lucky..I don't think relegation is a prospect..

      • Soon we will be talking football again - ELOADER. Y.N.W.A.