Re: LFC not yet sold to NESV (but we're getting there, maybe...)
[quote author=spider-neil link=topic=41783.msg1196874#msg1196874 date=1287128548]
[quote author=doctor_mac link=topic=41783.msg1196871#msg1196871 date=1287128382]
Being widely reported this morning that Hicks' injunction was a stalling tactic to do a deal with Mill finance to pay off RBS. I've no doubt that Hicks is violating numerous undertakings (as well as the ruling of the High Court) in all this, but by fuck this c*nt is fighting like an alley cat.
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if it were happening to anyone else you'd almost admire his tenacity
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No I wouldn't. The world, especially the U.S. has too many lawyers, and far too many fat capitalists who use them and their money power to squirm out of failure while accepting all the benefits of success.
About 120,000 people every month in the U.S. are going into foreclosure. When the bank says their money is due, they're fucked. They are fucked, there is almost no social safety net, there is no discussion, no court case, do you think they get legal aid? It's recently emerged banks haven't even been looking at their cases, and just have robo-signed them, thousands at a time, into foreclosure.
Some of them are victims of Hicks and those like him who thought the party would go on forever. Some of them are victims of their own stupid logic and spending beyond their means. They are all fucked though, and Hicks and Gilette, though they've lost a lot of wealth, which due to the nature of their risky business, never included a ton of realizable assets, will be just fine. They should all be in the same boat, but we know they aren't.
Hicks has had chance after chance to take a profit. The fact that he hasn't is his own stupid greed, a lack of understanding of the market he bought into, and the fact that he is obviously a horrible person to do business with. He so deserves to fail and take a huge loss.
There's absolutely nothing to admire in Hicks. When he was in control he was a poor business man. His strategy was predicated on short lived market conditions, but even more unforgivably he was almost infantile with his atrocious communication, his squabbling, his awful PR. So now it's gone tits up and he's trying to do what he's best at - winning by being a pain in the ass cunt, using a legal system that seems to reward pain in the ass cunts more than any other in human history. The only reason he might not get away with mitigating his losses and in so doing irreparably damaging a business, which apart from our involvement employs and directly effects the living of hundreds of people, is because the UK court system isn't quite so fucked up.
