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LFC SOLD to NESV.

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

[quote author=KopPoNok link=topic=41783.msg1197194#msg1197194 date=1287143664]
NESV attorney confirms that Hicks filed motion at 1 am Dallas time agreeing to drop opposition to TRO. Still need huge to sign
[/quote]

Who's this Huge Character now? is it ironic and the judge is an ompah lumpah?
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

JimBoardman

SSN: Alan Myers has heard (can't confirm 100%) that H&G have sold shares to Mill Financial. #LFC

🙁

Up down up down up down.

I feel like Rah Rah fucking Randall
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Herr Onceared link=topic=41783.msg1197193#msg1197193 date=1287143642]
[quote author=Rafa4PM link=topic=41783.msg1197192#msg1197192 date=1287143581]
SSN saying that Hicks has sold his stake to Mills.
[/quote]One legged bitch.
[/quote]

Al nevah fookin sall.

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

[quote author=Avmenon link=topic=41783.msg1197015#msg1197015 date=1287134846]
[quote author=Judge Jules link=topic=41783.msg1197009#msg1197009 date=1287134713]
[quote author=doctor_mac link=topic=41783.msg1197003#msg1197003 date=1287134553]
Doesn't he still need board approval?

What about fit and proper owner rules?
[/quote]

And what about those various reasons in company law that someone listed ages back to show that Hicks can't legally sell his shares anyway? I can't remember who posted them, but our resident lawyer Avvy seemed to feel they added up.
[/quote]

FreshRed, and he's probably a lawyer with better knowlege of the facts than me.
[/quote]

Was I just accused of being a lawyer? Ouch!

I am just catching up here in the US, does this have a happy ending on page 287?

I think that likely issues with the Shareholder Agreement are probably still in Hicks way.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

If it's true that Hicks has already sold his shares to Mills, then our lawyers should be in court asking Judge Jordan to lay contempt of court charges against Hicks and Mills, because it's clear that he has yet to sign off on the order to lift the TRO, so it's still in effect.

By selling up, Hicks has breached the TRO
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Sunny link=topic=41783.msg1197189#msg1197189 date=1287143459]
Guys , I need to head to the airport at 2 - any major developments - can those of you with my moby number let me know ?

[/quote]

No problem, just post it here...
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Ah shit, I've a horrible, horrible feeling those cunts are gonna fuck us over somehow.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=i_rushie link=topic=41783.msg1197201#msg1197201 date=1287144049]
If it's true that Hicks has already sold his shares to Mills, then our lawyers should be in court asking Judge Jordan to lay contempt of court charges against Hicks and Mills, because it's clear that he has yet to sign off on the order to lift the TRO, so it's still in effect.

By selling up, Hicks has breached the TRO
[/quote]

Bingo. Rushie scores again. You're a lawyer aren't you ?
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Sunny link=topic=41783.msg1197189#msg1197189 date=1287143459]
Guys , I need to head to the airport at 2 - any major developments - can those of you with my moby number let me know ?

[/quote]

I'll text you mate.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Mill Financial are technically now the sole shareholder of the club - if they show up to RBS with a big cheque, wouldnt RBS simply want to get shot?

At which point NESV are simply going to try and go to court to push through their "binding contract".
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

1:04

Twitter
thisisanfield:
SSN: "If Mill Financial give Hicks money to pay off debts, Hicks would remain in charge at LFC. NESV would take him to high court." [via Twitter]
Friday October 15, 2010 1:04 thisisanfield
1:03

Twitter
thisisanfield:
SSN: "Hicks could try and pay off debt owed to RBS. But how would he get the money? Mill Financial could give him the money." [via Twitter]
Friday October 15, 2010 1:03 thisisanfield
1:03

Twitter
thisisanfield:
SSN: "It is now just a case of paperwork being signed. NESV will surely become new owners, but does Hicks have anything up his sleeve?" [via Twitter]
Friday October 15, 2010 1:03 thisisanfield
1:02

Twitter
thisisanfield:
Bryan Swanson (SSN): "There is no legal obstacle for NESV to tackle to complete takeover this afternoon." [via Twitter]
Friday October 15, 2010 1:02 thisisanfield
12:58

Twitter
thisisanfield:
Premier League spokesman: "We will continue to deal with the legally constituted board of Liverpool Football Club." [via Twitter]
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Rumours Mill are a front China Sovereign Wealth
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

12.54pm: It is understood that Mill Financial approached the Premier League last night and asked to undertake its various tests regarding fit and proper persons and future financial info, writes Owen Gibson.

But the Premier League is believed to have rebuffed the request on the basis that it will only deal with the boards of its clubs.

The Liverpool board had previously put both Peter Lim and NESV forward. That is why both Lim, who was the preferred bidder until near the end of the process but has now left the scene, and NESV, which has a binding agreement it is currently trying to push through,
are at various stages of the process.

NESV are close to being passed - they have passed the directors test but have not yet been signed off on the future financial information part. That won't be confirmed unless and until the takeover goes through.

A Premier League spokesman said: "We will continue to deal with the legally constituted board of Liverpool Football Club."
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

That last info is very very much the key tbh.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

SSN are fucking retarded. Mill arent giving Hicks money to stay in charge, theyre buying his fucking shares in order to try and take control themselves (or for a secret backer - whcih in itself will breach Prem League rules I would guess) - Hicks is gone whatever it would seem.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=FoxForceFive link=topic=41783.msg1197206#msg1197206 date=1287144206]
[quote author=Sunny link=topic=41783.msg1197189#msg1197189 date=1287143459]
Guys , I need to head to the airport at 2 - any major developments - can those of you with my moby number let me know ?

[/quote]

I'll text you mate.
[/quote]

Ta Jon - I'm in Spain till Tuesday - so anything major. Thanks amigo (and Oncy - just not sure he'll be online this avo)
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Sunny link=topic=41783.msg1197211#msg1197211 date=1287144378]
Rumours Mill are a front China Sovereign Wealth
[/quote]

If that was true, would you all still want Nesv?
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Rafa4PM link=topic=41783.msg1197217#msg1197217 date=1287144644]
[quote author=Sunny link=topic=41783.msg1197211#msg1197211 date=1287144378]
Rumours Mill are a front China Sovereign Wealth
[/quote]

If that was true, would you all still want Nesv?
[/quote]

Yes, as they've behaved correctly through all of this and good history of doing well at a sports club in the same boat as us.

And don't forget financial fair play rules....2012
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Sunny link=topic=41783.msg1197211#msg1197211 date=1287144378]
Rumours Mill are a front China Sovereign Wealth
[/quote]

Huang at any rate. How much backing he has from CSW is open to debate though.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Update: 6:48 a.m.- Attorney's representing New England Sports Ventures are at the courthouse, and do confirm Hicks and Gillett's attorneys filed at 1:00 this morning a motion to dismiss the temporary restraining order. They still want a hearing in front of the judge in order to confirm the filing, and for the judge to sign the order. Says George Bramlet, the attorney representing NESV, when asked why Hicks and Gillett tossed the TRO: "maybe they thought they weren't going to win, who knows."

thats from the dallas observer

POssibly NESV trying hicks' delay tactics against him - if NESV manage to prevent the injunction being lifted pre 4pm (BST) then RBS again have the power of administration.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=doctor_mac link=topic=41783.msg1197219#msg1197219 date=1287144769]
[quote author=Sunny link=topic=41783.msg1197211#msg1197211 date=1287144378]
Rumours Mill are a front China Sovereign Wealth
[/quote]

Huang at any rate. How much backing he has from CSW is open to debate though.
[/quote]

Didn't mention Huang , just CIC
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Dallas_Observer
Attorneys have gone into judge's chambers. #Liverpool supporters have taken up a row in courtroom:
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Have a good trip Sunny! Maybe you can enjoy a couple of victory cervezas tonight!
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

SSN only just reporting about PL rejecting Mill Financial as owners. Get with it.
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

.02pm: David Conn has some more on Mill Financial:

Mill Financial are an arm of the Springfield Financial Companies. That has been confirmed. In recent weeks, there have been reports that they lent George Gillett £75m to meet his further loan commitments at Liverpool, and that he defaulted on that loan, so they have in effect repossessed his shares. That has not been confirmed by Mill, who so far do not return calls. Gillett has not returned a call for some weeks now.

If those reports are true, that means if Liverpool is sold to NESV for the agreed £300m, to repay all Liverpool's debts owed to the banks (except for £30m to finance stadium development), it is Mill Financial which will lose that £75m, along with Hicks losing his around £70m.

That means a US hedge fund, based, like Hicks, in southern USA - Springfield, Virginia - have a £75m loss to protect. That helps to explain why they should now be apparently working desperately with Hicks to avoid a sale to NESV.
If they lend Hicks the £200m to repay RBS, the scenario being discussed at the moment by the participants, and Hicks does so, he could stay in control of Liverpool, because RBS is repaid and their hold over the board via the undertakings falls away. Hicks would owe Mill £200m, at whatever rate of interest he has had to agree to. The "payment in kind" loans from the US hedge funds at Manchester United currently charge 16.25% interest, a year, so that would be £32.5m a year interest, and there would likely be very large costs to add to it - financial institutions like to charge for the right to lend their money.

There seems little doubt that Hicks would make Liverpool itself, out of its income - fans' money, TV, commercial revenues - pay that interest and harges and service the debt, as he and Gillett did with the RBS loans. That is a major financial reason why Liverpool fans will be desperate the Mill/Hicks eleventh hour bid does not succeed.

NESV, have committed, to clearing the £300m of debt, and not loading the club with any more debt, or making the club in any way pay any of the costs associated with buying it.
NESV are saying very firmly they will sue because they have a binding agreement with the board to buy the club - as Henry has reiterated on Twitter.

Martin Broughton has arrived at Slaughter & May's London offices, reports Caroline Davies, our on-the-doorstep reporter. Broughton said: "Hopeful a deal can be done."
Chris Purslow added he was "confident we can do a deal
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

tariqpanja

Stand by
1 minute ago via Twitter for BlackBerry®
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=RMA link=topic=41783.msg1197222#msg1197222 date=1287144855]
Dallas_Observer
Attorneys have gone into judge's chambers. #Liverpool supporters have taken up a row in courtroom:
[/quote]

So they've taken up a Row (as in row, row, row your boat), or they are getting into a fight? ;0
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

[quote author=Sunny link=topic=41783.msg1197218#msg1197218 date=1287144695]
[quote author=Rafa4PM link=topic=41783.msg1197217#msg1197217 date=1287144644]
[quote author=Sunny link=topic=41783.msg1197211#msg1197211 date=1287144378]
Rumours Mill are a front China Sovereign Wealth
[/quote]

If that was true, would you all still want Nesv?
[/quote]

Yes, as they've behaved correctly through all of this and good history of doing well at a sports club in the same boat as us.

And don't forget financial fair play rules....2012
[/quote]

I'm not so sure personally mate.

Anyways this China link is probably all BS
 
Re: LFC not yet sold to NESV (but we're getting there, maybe...)

Just for info. The slaughter and may offices are next to my building.
The press pack outside all just got very excited and crowded round the entrance to the building. Not sure what's happening but something soon i assume!
 
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