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LFC SOLD to NESV.

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Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Judge Jules link=topic=41783.msg1193163#msg1193163 date=1286883677]
[quote author=Stulikesdrums link=topic=41783.msg1193159#msg1193159 date=1286883520]
danroan
H&G: Bid by 'Meriton' (Lim) is still on table and better than nesv, as is an offer from Mill Financial!
[/quote]

None of that matters if the sale to NESV was validly concluded. H and G are just trying to muddy the waters.
[/quote]

Are you a real judge, judge ?
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Sunny link=topic=41783.msg1193157#msg1193157 date=1286883390]
WTF is this guy on about?

Email from JA Barnes asks: "What must Sabermetrics fan John W. Henry be thinking about Liverpool fans being so clearly opposed to statistics?
[/quote]

It's referring to a banner being shown outside the court.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Judge Jules link=topic=41783.msg1193171#msg1193171 date=1286884076]
[quote author=IanTheRed link=topic=41783.msg1193169#msg1193169 date=1286883992]
[quote author=spider-neil link=topic=41783.msg1193166#msg1193166 date=1286883910]
[quote author=Avmenon link=topic=41783.msg1193164#msg1193164 date=1286883830]
I'm trying to coider other angles, but Hicks concessions are very damaging.
If Lim's offer was the only other offer at the time, then he has no real case.
[/quote]

hicks has also brought up mills finance. anyone but NESV, eh tom?
[/quote]

Heather? Bitch. Anything to get back at Paul.
[/quote]

It figures. Hicks knows he doesn't have a leg to stand on after all.
[/quote]

Hahahaha.
 
Re: LFC Sold to NESV (New England Sports Ventures)

12.42pm: The secondary offer that H&G's representatives refer to is from Mill Financial. The offer includes repaying all debts and putting £100m towards the new stadium. Mill Financial took over some of Gillett's stake. Mill Financial were meant to meet Broughton last Thursday to discuss a possible takeover but it was cancelled. Hicks and Gillett's representative wants to know why this meeting was cancelled. Mill Financial remain interested in buying Liverpool.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=spider-neil link=topic=41783.msg1193172#msg1193172 date=1286884094]
H&G QC: Bid by Mill Financial (hedge fund who now own G's shares) would pay off all debt and committ to 100m on new stadium

[/quote]

Ha ha ha ha ha ha ha *sprays coffee*

Fucking A - DEAL!! How many days, 60?
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=TheBunnyman link=topic=41783.msg1193177#msg1193177 date=1286884198]
[quote author=Sunny link=topic=41783.msg1193157#msg1193157 date=1286883390]
WTF is this guy on about?

Email from JA Barnes asks: "What must Sabermetrics fan John W. Henry be thinking about Liverpool fans being so clearly opposed to statistics?
[/quote]

It's referring to a banner being shown outside the court.
[/quote]

Yes. What a pointless email, the twat.
 
Re: LFC Sold to NESV (New England Sports Ventures)

Sunny - no, but FWIW I'm a qualified company secretary and had to pass degree-level law exams to get the certificate.
 
Re: LFC Sold to NESV (New England Sports Ventures)

on paper the mill deal is better than the NESV deal but they have no experience of running a sports franchise.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Judge Jules link=topic=41783.msg1193182#msg1193182 date=1286884279]
Sunny - no, but FWIW I'm a qualified company secretary and had to pass degree-level law exams to get the certificate.
[/quote]

Good enough for me. In JJ I have faith
 
Re: LFC Sold to NESV (New England Sports Ventures)

Unless the bid was made before acceptance of the initial NESVbid, it's not relevant.

And even if it were, Broughton could easily show that he's acted reasonably in accepting a bid from a concern which had legitimate skills in managing sports businesses as opposed to a hedge fund and a stock-broker.

It'd have to be a bid that so far surpassed the NESV bid that acceptance amounted to breach of director's duty to the shareholders and of basically gross negligence .
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=spider-neil link=topic=41783.msg1193183#msg1193183 date=1286884302]
on paper the mill deal is better than the NESV deal but they have no experience of running a sports franchise.
[/quote]

On paper. The money the pump into the club - how would it be structured etc.. what debt would it place on the club etc..what interest rates. They're a finance house - primarily out to make money.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Judge Jules link=topic=41783.msg1193182#msg1193182 date=1286884279]
I'm a qualified company secretary and had to pass degree-level law exams to get the certificate.
[/quote]

Qualifications? *smirky smiley*

Blow me, fuck face??
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=spider-neil link=topic=41783.msg1193183#msg1193183 date=1286884302]
on paper the mill deal is better than the NESV deal but they have no experience of running a sports franchise.
[/quote]

I was interested in an American Golf Discount shop.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Sunny link=topic=41783.msg1193186#msg1193186 date=1286884360]
[quote author=spider-neil link=topic=41783.msg1193183#msg1193183 date=1286884302]
on paper the mill deal is better than the NESV deal but they have no experience of running a sports franchise.
[/quote]

On paper. The money the pump into the club - how would it be structured etc.. what debt would it place on the club etc..what interest rates. They're a finance house - primarily out to make money.
[/quote]

Exactly right.

All Broughton has to do is point out what happened the last time LFC was sold to the higher bidder of the two.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Avmenon link=topic=41783.msg1193185#msg1193185 date=1286884326]
Unless the bid was made before acceptance of the initial NESVbid, it's not relevant.

And even if it were, Broughton could easily show that he's acted reasonably in accepting a bid from a concern which had legitimate skills in managing sports businesses as opposed to a hedge fund and a stock-broker.

It'd have to be a bid that so far surpassed the NESV bid that acceptance amounted to breach of director's duty to the shareholders and of basically gross negligence .


[/quote]

Correct me if I'm wrong, Avvy, but that's the key, isn't it? Even if the court might think it would have made a different decision, it could only overturn this one if it was as UNreasonable as you describe in your final para.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=spider-neil link=topic=41783.msg1193172#msg1193172 date=1286884094]
H&G QC: Bid by Mill Financial (hedge fund who now own G's shares) would pay off all debt and committ to 100m on new stadium

[/quote]

Yes, with some a new debt vehicle, getting 45% APR or something like that..
 
Re: LFC Sold to NESV (New England Sports Ventures)

the judge should say, 'I'm only here to decide if the changing of the board last week by hicks is illegal. it is, case dismissed'
 
Re: LFC Sold to NESV (New England Sports Ventures)

12.53pm: A tweet: "Mr Justice Floyd likes to think about his decisions over lunch, so don't expect #LFCTRIAL judgment before 2pm." We shall soon find out...


oh shit, I'm bricking it...
 
Re: LFC Sold to NESV (New England Sports Ventures)

He would dismiss the case if he agrees with RBS though, Neil.
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Wilko link=topic=41783.msg1193195#msg1193195 date=1286884894]
He would dismiss the case if he agrees with RBS though, Neil.
[/quote]

that's what I said.
 
Re: LFC Sold to NESV (New England Sports Ventures)

"H&G's representative in court: "Claims Meriton wrote letter to Hicks and Gillett on Friday evening asking 'what was going on' regarding their takeover bid.""

Fucking hell, how quaint. Write a letter (approximately 4 letters long), three days after the NESV bid was accepted, to the people who have a minority representation on the board?

How about, call me fucking stupid here, picking up the phone to the Chairman or getting some sort of Gordon Gekko type bloke to storm into Broughton's office and demain answers? No, a letter it is then...
 
Re: LFC Sold to NESV (New England Sports Ventures)

From court: "Owners have no idea what happened after 4.30pm on 5 October, according to their rep, and were not kept informed by the board thereafter."


weren't they invited to the meeting but declined to show up?
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Wilko link=topic=41783.msg1193195#msg1193195 date=1286884894]
He would dismiss the case if he agrees with RBS though, Neil.
[/quote]

RBS are taking the case
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=spider-neil link=topic=41783.msg1193194#msg1193194 date=1286884879]
12.53pm: A tweet: "Mr Justice Floyd likes to think about his decisions over lunch, so don't expect #LFCTRIAL judgment before 2pm."


[/quote]

Bugger. I've got to go out now. Fingers crossed. Keep the faith, lads.
 
Re: LFC Sold to NESV (New England Sports Ventures)

From court: "Owners have no idea what happened after 4.30pm on 5 October, according to their rep, and were not kept informed by the board thereafter."

Because they declined to attend because they could not sack the board, to which they agreed they were in breach contract. Surely they're floundering a bit here?
 
Re: LFC Sold to NESV (New England Sports Ventures)

[quote author=Wilko link=topic=41783.msg1193199#msg1193199 date=1286885073]
I meant to say wouldn't.
[/quote]

my original post was meant to be dramatic 😉
 
Re: LFC Sold to NESV (New England Sports Ventures)

It's well documented that Hillbilly Hicks hung up his phone when invited to take part in the board meeting.
 
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