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LFC SOLD to NESV.

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Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=LadyRed link=topic=41783.msg1195527#msg1195527 date=1287055906]
I've never wanted to be a billionaire so bad.
[/quote]

would you pass the fit and proper test, anita? 😉
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195522#msg1195522 date=1287055710]
apparently some fans are going to initiate a Class Action against H & G


what does this mean, please?
[/quote]

A group of people acting as joint plaintiffs with a common interest or claim for damages.

It'll be very difficult though since us fans will have a difficult time in proving damages suffered.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

Robert Peston:
Update 1156: RBS feels its hands would be tied if £200m were to turn up in its accounts from Mill Financial.

At that point, its ability to determine the fate of Liverpool FC would be over.

What I cannot ascertain is what Mill would then do with Liverpool.

Is it buying to hold or buying to sell? And would there be any continuing relationship with Tom Hicks?

As and when I get answers, you will be the second to know.

Update,

1209: Liverpool's directors are due back in court at 1400, in an attempt - I am told - to somehow get around the Texas injunction on the sale to NESV.

So the race is on to see who can get the £200m into RBS's coffers faster - NESV or Mill?
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Sunny link=topic=41783.msg1195521#msg1195521 date=1287055688]
[quote author=737Max link=topic=41783.msg1195520#msg1195520 date=1287055655]
On a sidenote, I agree, we should not refer to the owners as cunts, that title is already bestowed upon Lucas
[/quote]

Okay Okay.


texan TWAT
[/quote]

Ubercunt? Thundercunt? Texacunt?

I need the word cunt in there somewhere, as I despise that word yet it fits neatly when decribing that cunt.

P.S. I'm seeking damages against that Thundercunt for the misuse of my F5 key, as it's not responding properly now. £1.6billion.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195519#msg1195519 date=1287055564]
I don't think you need board approval to sell your shares
[/quote]

It depends what agreements are in place.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Sunny link=topic=41783.msg1195535#msg1195535 date=1287056047]
[quote author=spider-neil link=topic=41783.msg1195533#msg1195533 date=1287055989]
tariqpanja
High Court relief sort by #LFC, RBS and co is only likely to be first stage in blocking US litigation. If approved here case moves to USA
[/quote]

This is going to drag on and on
[/quote]

Flips sake. Seems like most of our fears when this whole thing started of being dragged through courts for months is being realised.

I just can't see us getting out of this slump of results until this is sorted, and we really can't afford to be on this run for much longer.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

Sorry if this has already been posted, but it's such a long thread it's difficult to check.

Robert Peston of the BBC has made some comments on the "Echo" website:

http://www.liverpoolecho.co.uk/liverpool-news/local-news/2010/10/14/liverpool-fc-sale-latest-bbc-s-robert-peston-on-mill-financial-100252-27471634/

"BBC business editor Robert Peston posted the following blog entry on the LFC ownership situation just before midday today:

"RBS feels its hands would be tied if £200m were to turn up in its accounts from Mill Financial.

"At that point, its ability to determine the fate of Liverpool FC would be over.

"What I cannot ascertain is what Mill would then do with Liverpool.

"Is it buying to hold or buying to sell? And would there be any continuing relationship with Tom Hicks?"

Earlier this morning, Peston wrote:

"Royal Bank of Scotland tells me that if it's true that Mill has taken the Hicks/Gillett shares and if Mill repays the £200m long-term debt owed by Liverpool FC (plus penalty fees) to RBS and Wachovia, then Mill is in the driving seat.

"Once the debt is repaid, RBS's power ends.

"At that point, the deal with New England Sports Ventures collapses.

"Liverpool would have a new owner, Mill. And Mill will do with Liverpool what it pleases."

View Peston's posts here: http://www.bbc.co.uk/blogs/thereporters/robertpeston/


Read More http://www.liverpoolecho.co.uk/liverpool-news/local-news/2010/10/14/liverpool-fc-sale-latest-bbc-s-robert-peston-on-mill-financial-100252-27471634/#ixzz12Kf1NIkF
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

Can't read back through, have mill financial really bought hicks out, & if so surely they can simply pay rbs & take control?!

Am I right in that assumption?!
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Avmenon link=topic=41783.msg1195537#msg1195537 date=1287056089]
[quote author=spider-neil link=topic=41783.msg1195522#msg1195522 date=1287055710]
apparently some fans are going to initiate a Class Action against H & G


what does this mean, please?
[/quote]

A group of people acting as joint plaintiffs with a common interest or claim for damages.

It'll be very difficult though since us fans will have a difficult time in proving damages suffered.
[/quote]

even if they fans were to win, the damages would be in the form of money, right? it would in no way halt the sale of the club?
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195539#msg1195539 date=1287056157]
Robert Peston:
Update 1156: RBS feels its hands would be tied if £200m were to turn up in its accounts from Mill Financial.

At that point, its ability to determine the fate of Liverpool FC would be over.

What I cannot ascertain is what Mill would then do with Liverpool.

Is it buying to hold or buying to sell? And would there be any continuing relationship with Tom Hicks?

As and when I get answers, you will be the second to know.

Update,

1209: Liverpool's directors are due back in court at 1400, in an attempt - I am told - to somehow get around the Texas injunction on the sale to NESV.

So the race is on to see who can get the £200m into RBS's coffers faster - NESV or Mill?

[/quote]

But if Hicks and Gilliette have always had the means to do this, why would they have not done it a week ago? It doesn't make sense.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

I wonder, if true, how much Mills financial have paid Hicks for his shares because they would have to bear that and the cost of the debt. I'm struggling to see the benefit in that as it would exceed the market price for LFC
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=FoxForceFive link=topic=41783.msg1195544#msg1195544 date=1287056230]
Can't read back through, have mill financial really bought hicks out, & if so surely they can simply pay rbs & take control?!

Am I right in that assumption?!
[/quote]

pretty much.

I think our last hope is LFC/RBS/NESV stating that the club would have been sold last week if hicks hadn't broken the agreement with RBS (illegally changing the board).
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=FoxForceFive link=topic=41783.msg1195552#msg1195552 date=1287056343]
I feel physically sick.
[/quote]


Was just thinking the same!
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195545#msg1195545 date=1287056237]
[quote author=Avmenon link=topic=41783.msg1195537#msg1195537 date=1287056089]
[quote author=spider-neil link=topic=41783.msg1195522#msg1195522 date=1287055710]
apparently some fans are going to initiate a Class Action against H & G


what does this mean, please?
[/quote]

A group of people acting as joint plaintiffs with a common interest or claim for damages.

It'll be very difficult though since us fans will have a difficult time in proving damages suffered.
[/quote]

even if they fans were to win, the damages would be in the form of money, right? it would in no way halt the sale of the club?
[/quote]

The suit would probably be looking for injunctive reliefs; there's no point claiming damages since we couldnt prove any were suffered.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

Let's wait till court resumes, lads and Neets.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Sunny link=topic=41783.msg1195549#msg1195549 date=1287056330]
I wonder, if true, how much Mills financial have paid Hicks for his shares because they would have to bear that and the cost of the debt. I'm struggling to see the benefit in that as it would exceed the market price for LFC
[/quote]

from mill financial it makes perfect sense. hick will naturally sell to them because as things stand he is set to lose 140m, so they buy hicks' shares, they then pay of rbs (you don't need board approval for that) you then sell to the highest bidder, even if they make 50m above the price they paid it's still 50m for essentially 2 days work.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=FoxForceFive link=topic=41783.msg1195552#msg1195552 date=1287056343]
I feel physically sick.
[/quote]

Preggo?
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=FoxForceFive link=topic=41783.msg1195552#msg1195552 date=1287056343]
I feel physically sick.
[/quote]

me too :'(
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195557#msg1195557 date=1287056516]
[quote author=Sunny link=topic=41783.msg1195549#msg1195549 date=1287056330]
I wonder, if true, how much Mills financial have paid Hicks for his shares because they would have to bear that and the cost of the debt. I'm struggling to see the benefit in that as it would exceed the market price for LFC
[/quote]

from mill financial it makes perfect sense. hick will naturally sell to them because as things stand he is set to lose 140m, so they buy hicks' shares, they then pay of rbs (you don't need board approval for that) you then sell to the highest bidder, even if they make 50m above the price they paid it's still 50m for essentially 2 days work.
[/quote]

Bring back Spider-Neil, you blaggard!!
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195557#msg1195557 date=1287056516]
[quote author=Sunny link=topic=41783.msg1195549#msg1195549 date=1287056330]
I wonder, if true, how much Mills financial have paid Hicks for his shares because they would have to bear that and the cost of the debt. I'm struggling to see the benefit in that as it would exceed the market price for LFC
[/quote]

from mill financial it makes perfect sense. hick will naturally sell to them because as things stand he is set to lose 140m, so they buy hicks' shares, they then pay of rbs (you don't need board approval for that) you then sell to the highest bidder, even if they make 50m above the price they paid it's still 50m for essentially 2 days work.
[/quote]

But does it ? Let's say the pay £75m to Hicks and then the £237m to RBS. Thats £310m

To make £50m profit they'd have to find a buyer willing to pay £360m which is unlikely
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

The main issue is whether or not Mill Financial can buy Hicks share of LFC which has been sold by the Board to NESV.

Only a court can decide this, and it will be an English court.

Not in Texas.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

bensmith_times Ben Smith
Just been told Hicks & Gillett could be held in contempt of court when the #lfc case returns to High Court today


will he care? does hicks have any intersts in the UK other than liverpool FC?
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Hansern link=topic=41783.msg1195564#msg1195564 date=1287056797]
So, Kenny Huang or NESV?
[/quote]

NESV
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195566#msg1195566 date=1287056813]
bensmith_times Ben Smith
Just been told Hicks & Gillett could be held in contempt of court when the #lfc case returns to High Court today


will he care? does hicks have any intersts in the UK other than liverpool FC?
[/quote]

Could he be extradited ?
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

OK so what if RBS interest ends when the debt is paid?
it still needs to go through the board.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Sunny link=topic=41783.msg1195562#msg1195562 date=1287056712]
[quote author=spider-neil link=topic=41783.msg1195557#msg1195557 date=1287056516]
[quote author=Sunny link=topic=41783.msg1195549#msg1195549 date=1287056330]
I wonder, if true, how much Mills financial have paid Hicks for his shares because they would have to bear that and the cost of the debt. I'm struggling to see the benefit in that as it would exceed the market price for LFC
[/quote]

from mill financial it makes perfect sense. hick will naturally sell to them because as things stand he is set to lose 140m, so they buy hicks' shares, they then pay of rbs (you don't need board approval for that) you then sell to the highest bidder, even if they make 50m above the price they paid it's still 50m for essentially 2 days work.
[/quote]

But does it ? Let's say the pay £75m to Hicks and then the £237m to RBS. Thats £310m

To make £50m profit they'd have to find a buyer willing to pay £360m which is unlikely
[/quote]

that is what lim is offering, it's just that 40m of that is for team purchases.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=spider-neil link=topic=41783.msg1195560#msg1195560 date=1287056560]
[quote author=FoxForceFive link=topic=41783.msg1195552#msg1195552 date=1287056343]
I feel physically sick.
[/quote]

me too :'(
[/quote]

Class action ?
 
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