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LFC SOLD to NESV.

Re: LFC not yet sold to NESV (but we're getting there, maybe...)

6.31pm: Ed Graham has basically summed up the whole situation ...

So yesterday the English guys won in the English court; then the Americans won in the American court and blocked the English judge's decision (essentially). Then today the English guys won again in the English court and blocked the blocking of the English judge's decision. And now the Americans are fighting in the American court to block the blocking of the blocking of the English judge's decision. Can we guess who'll win that? How is this ever going to end?

We have a lawyer from Texas who seems to think he knows how it will end and that's with a massive cheque being written by an insurance company to Thomas O Hicks and George Gillett ...

The Texas TRO should be dissolved. One legal element of injunctive relief is that one must not have an "adequate remedy at law" (as opposed to equitable relief, which is what a restraining order involves). H&G have an adequate remedy at law in that they can sue the directors for money for the breach of their fiduciary duty to the shareholders to sell the club at the highest price possible. The directors likely have several Directors' and Officers' insurance policies in place for just such contingencies, so for the Names at Lloyd's who underwrote those policies, it is, to quote Sir Alex, "squeaky bum time." The sale goes through and somewhere down the road, Lloyd's writes two large checks to Hicks and Gillett (although the settlement will be confidential). Always get to the insurance.
 
Re: LFC Sold to NESV (RBS WIN COURT RULING - CONFIRMED.........TBC

[quote author=Skullflower link=topic=41783.msg1196308#msg1196308 date=1287075792]
Hicks will sell his shares tonight I reckon. Something like that.
[/quote]

There is no way that Hicks can legally sell his shares.

1. First his shares are the security for the RBS loan, so that must be paid first. And, it appears that in the agreement for NESV to purchase the club that RBS has agreed to waive some the penalties that were written into the most recent refinancing. They would likely not waive those fees for Hicks in this action, so Mills or someone would have to pay a premium just to remove the debt and prevent Administration.

2. Each company has a Shareholders agreement which governs when and to whom and with whose permission a shareholder can sell their shares. For example, we knew that Hicks and Gilette originally had first right of refusal on each other's shares. This would be stipulated in the shareholder agreement. It is a certainty that during the refinancing that RBS provided Broughton the authority to determine who can purchase Hicks and Gillette's shares. Because of this, I believe that Gillette likely still "owns" his shares, but that any benefits that accrue from that ownership would be directed his creditors (Mills).

Therefore, Hicks cannot just sell his shares. His only argument is that the board have violated their fiduciary responsibilities and should be replaced. That argument already failed in the UK and I am confident that the US courts will recognize a lack of jurisdiction, although I would not trust a Texas court. May take time on appeal.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

I saw Ryan's name on the forum list. He was in this thread yesterday.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Red Mullet link=topic=41783.msg1196357#msg1196357 date=1287077286]
[quote author=Dancing Brave link=topic=41783.msg1196353#msg1196353 date=1287077020]
[quote author=Herr Onceared link=topic=41783.msg1196334#msg1196334 date=1287076640]
Im starting to worry that i will never be able to leave this thread again.
[/quote]

Apart from the apparent great news and the supeb lollage we have also seen the return of 3 great posters in Ian The Red, Themn and Ryan (not including livvy as he's always lurking). I suggest we keep this thread going until "Dave", Foureyes, Robinhood and Leftpeg reappear.
[/quote]

Foureyes?

*stares at Dancing Brave*
[/quote]

Did I miss something? He was a top poster particularly in the General Chat forum.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Dancing Brave link=topic=41783.msg1196374#msg1196374 date=1287078291]
[quote author=Red Mullet link=topic=41783.msg1196357#msg1196357 date=1287077286]
[quote author=Dancing Brave link=topic=41783.msg1196353#msg1196353 date=1287077020]
[quote author=Herr Onceared link=topic=41783.msg1196334#msg1196334 date=1287076640]
Im starting to worry that i will never be able to leave this thread again.
[/quote]

Apart from the apparent great news and the supeb lollage we have also seen the return of 3 great posters in Ian The Red, Themn and Ryan (not including livvy as he's always lurking). I suggest we keep this thread going until "Dave", Foureyes, Robinhood and Leftpeg reappear.
[/quote]

Foureyes?

*stares at Dancing Brave*
[/quote]

Did I miss something? He was a top poster particularly in the General Chat forum.
[/quote]I agree. One of the very best. In fact he was too nice, kind, honest and fucking decent for this place.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Terrier link=topic=41783.msg1196373#msg1196373 date=1287078256]
I saw Ryan's name on the forum list. He was in this thread yesterday.


[/quote]Well played Terrier. You know own the busiest thread in SCM history.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=FoxForceFive link=topic=41783.msg1196355#msg1196355 date=1287077142]
Maybe this site should always be just one thread....
[/quote]

We'd eventually suffer from RAWK syndrome.

There would be ritual bannings and slowly but surely a steady movement in support of Lucas, a player that combines the technique and vision of Xavi with the raw energy and dynamism of Essien.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Herr Onceared link=topic=41783.msg1196362#msg1196362 date=1287077445]
[quote author=Dancing Brave link=topic=41783.msg1196361#msg1196361 date=1287077404]
[quote author=FoxForceFive link=topic=41783.msg1196354#msg1196354 date=1287077121]
Ryan??

When did Ryan come back??
[/quote]

Maybe I'm mistaken, I thought he posted in this thread. Well even if he didn't he briefly appeared in GC while this thread was in full flow and I reckon that was down to the restorative powers of this thread.
[/quote]Yeah he was in GC.
This thread is the Jesus of SCM.
[/quote]

*gets out the hammer and nails*
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

6.48pm: Keith Boundy has a question for any law-talking guys out there ... "Even if Judge Jordan rules in favor of Hicks, they will still be in contempt of court when they set foot in the UK right? If we get to a stituation with the Dallas Court and London High Court at opposing ruling, given that this involves a foreign court, won't Liverpool be able to get this case in a Federal Court who may be less likely to be swayed than a judge soliciting campaign contributions?"

6.44pm: "Interested to know where is David Moores in all these shennanigans," writes Andy Dunbar. "I would love to know what his thoughts, views & opinions are, after all he is the reason we are in this situation selling out to H&G instead of DIC... hindsight is a wonderful thing..!" I wonder if Rick Parry he should have done a little more research into Tom Hicks.

6.38pm: It's been reported that John W Henry has just arrived at the offices of Slaughter and May in London, just as he did last night. I'm sure he'll be bedding down for the evening there as they await news from Dallas. This really is Groundhog Day and we're all Bill Murray. Except for Sky Sports News' Gary Cotterill. He's Ned Ryerson.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Dancing Brave link=topic=41783.msg1196374#msg1196374 date=1287078291]
[quote author=Red Mullet link=topic=41783.msg1196357#msg1196357 date=1287077286]
[quote author=Dancing Brave link=topic=41783.msg1196353#msg1196353 date=1287077020]
[quote author=Herr Onceared link=topic=41783.msg1196334#msg1196334 date=1287076640]
Im starting to worry that i will never be able to leave this thread again.
[/quote]

Apart from the apparent great news and the supeb lollage we have also seen the return of 3 great posters in Ian The Red, Themn and Ryan (not including livvy as he's always lurking). I suggest we keep this thread going until "Dave", Foureyes, Robinhood and Leftpeg reappear.
[/quote]

Foureyes?

*stares at Dancing Brave*
[/quote]

Did I miss something? He was a top poster particularly in the General Chat forum.
[/quote]

He's uncool
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Red Mullet link=topic=41783.msg1196381#msg1196381 date=1287078864]
[quote author=Dancing Brave link=topic=41783.msg1196374#msg1196374 date=1287078291]
[quote author=Red Mullet link=topic=41783.msg1196357#msg1196357 date=1287077286]
[quote author=Dancing Brave link=topic=41783.msg1196353#msg1196353 date=1287077020]
[quote author=Herr Onceared link=topic=41783.msg1196334#msg1196334 date=1287076640]
Im starting to worry that i will never be able to leave this thread again.
[/quote]

Apart from the apparent great news and the supeb lollage we have also seen the return of 3 great posters in Ian The Red, Themn and Ryan (not including livvy as he's always lurking). I suggest we keep this thread going until "Dave", Foureyes, Robinhood and Leftpeg reappear.
[/quote]

Foureyes?

*stares at Dancing Brave*
[/quote]

Did I miss something? He was a top poster particularly in the General Chat forum.
[/quote]

He's uncool
[/quote]He's a top man.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Herr Onceared link=topic=41783.msg1196376#msg1196376 date=1287078429]
[quote author=Terrier link=topic=41783.msg1196373#msg1196373 date=1287078256]
I saw Ryan's name on the forum list. He was in this thread yesterday.


[/quote]Well played Terrier. You know own the busiest thread in SCM history.
[/quote]


Oh Good, do I get any special powers now or anything?
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Terrier link=topic=41783.msg1196384#msg1196384 date=1287078953]
[quote author=Herr Onceared link=topic=41783.msg1196376#msg1196376 date=1287078429]
[quote author=Terrier link=topic=41783.msg1196373#msg1196373 date=1287078256]
I saw Ryan's name on the forum list. He was in this thread yesterday.


[/quote]Well played Terrier. You know own the busiest thread in SCM history.
[/quote]


Oh Good, do I get any special powers now or anything?
[/quote]Yeah we'll help you set up your own website. We'll offer advice and shit.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Meh......

"The independent Directors of Liverpool Football Club are delighted with the verdict of Mr Justice Floyd in the High Court this afternoon which now requires Mr Hicks and Mr Gillett to withdraw their Texas restraining order by 4pm tomorrow.

We are glad to have taken another important step towards completing the sale process."
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

It has been indeed great to see Ian back. I hopes he sticks around. It's been fun and tension on here this week but it's brought the best out of the forum in many ways. And a little of the worst of course.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

This thread sucks.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Herr Onceared link=topic=41783.msg1196385#msg1196385 date=1287079009]
[quote author=Terrier link=topic=41783.msg1196384#msg1196384 date=1287078953]
[quote author=Herr Onceared link=topic=41783.msg1196376#msg1196376 date=1287078429]
[quote author=Terrier link=topic=41783.msg1196373#msg1196373 date=1287078256]
I saw Ryan's name on the forum list. He was in this thread yesterday.


[/quote]Well played Terrier. You know own the busiest thread in SCM history.
[/quote]


Oh Good, do I get any special powers now or anything?
[/quote]Yeah we'll help you set up your own website. We'll offer advice and shit.
[/quote]

Heh. Any particular interests in mind Terrier?
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

This thread sucks clunge.

I don't even know what that means.

The new Robin Hood was better than I would've thought.

I like Russel Crowe.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Red Mullet link=topic=41783.msg1196381#msg1196381 date=1287078864]
[quote author=Dancing Brave link=topic=41783.msg1196374#msg1196374 date=1287078291]
[quote author=Red Mullet link=topic=41783.msg1196357#msg1196357 date=1287077286]
[quote author=Dancing Brave link=topic=41783.msg1196353#msg1196353 date=1287077020]
[quote author=Herr Onceared link=topic=41783.msg1196334#msg1196334 date=1287076640]
Im starting to worry that i will never be able to leave this thread again.
[/quote]

Apart from the apparent great news and the supeb lollage we have also seen the return of 3 great posters in Ian The Red, Themn and Ryan (not including livvy as he's always lurking). I suggest we keep this thread going until "Dave", Foureyes, Robinhood and Leftpeg reappear.
[/quote]

Foureyes?

*stares at Dancing Brave*
[/quote]

Did I miss something? He was a top poster particularly in the General Chat forum.
[/quote]

He's uncool
[/quote]

Probably why I liked him, us uncool guys stick together.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=krissr link=topic=41783.msg1196406#msg1196406 date=1287079624]
Is it anyones Birthday ? 😀
[/quote]
*WAVES GIGANTIC BIRTHDAY FLAG*
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Sunny link=topic=41783.msg1196397#msg1196397 date=1287079520]
[quote author=Herr Onceared link=topic=41783.msg1196385#msg1196385 date=1287079009]
[quote author=Terrier link=topic=41783.msg1196384#msg1196384 date=1287078953]
[quote author=Herr Onceared link=topic=41783.msg1196376#msg1196376 date=1287078429]
[quote author=Terrier link=topic=41783.msg1196373#msg1196373 date=1287078256]
I saw Ryan's name on the forum list. He was in this thread yesterday.


[/quote]Well played Terrier. You know own the busiest thread in SCM history.
[/quote]


Oh Good, do I get any special powers now or anything?
[/quote]Yeah we'll help you set up your own website. We'll offer advice and shit.
[/quote]

Heh. Any particular interests in mind Terrier?
[/quote]


football legal counseling?
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

148 people online today at its busiest. Woohoo.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Terrier link=topic=41783.msg1196410#msg1196410 date=1287079734]
[quote author=Sunny link=topic=41783.msg1196397#msg1196397 date=1287079520]
[quote author=Herr Onceared link=topic=41783.msg1196385#msg1196385 date=1287079009]
[quote author=Terrier link=topic=41783.msg1196384#msg1196384 date=1287078953]
[quote author=Herr Onceared link=topic=41783.msg1196376#msg1196376 date=1287078429]
[quote author=Terrier link=topic=41783.msg1196373#msg1196373 date=1287078256]
I saw Ryan's name on the forum list. He was in this thread yesterday.


[/quote]Well played Terrier. You know own the busiest thread in SCM history.
[/quote]


Oh Good, do I get any special powers now or anything?
[/quote]Yeah we'll help you set up your own website. We'll offer advice and shit.
[/quote]

Heh. Any particular interests in mind Terrier?
[/quote]


football legal counseling?


[/quote]No worries kid. Let us draw something up.

*flies to cunting Texas*
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

I reckon we'll get duffed at the weekend as our players will be suffering both tired legs from midweek internationals and tired minds from all the ownership business.
 
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