Liverpool Takeover (Merged)

[alera]

Re: Liverpool Takeover Imminent?

The Premier League has confirmed that the club would not suffer a nine-point penalty if it were to enter administration as the club would remain fully solvent.

"The aim of the regulations is primarily to capture clubs who have gone into insolvency. This is manifestly not the case with Liverpool Football Club," a Premier League source told PA Sport.

"For example, last year West Ham's Icelandic owners went into administration but that did not lead to any Premier League action as the club itself was solvent."

Source : <a class="postlink" href="http://news.bbc.co.uk/sport1/hi/football/teams/l/liverpool/9064599.stm" onclick="window.open(this.href);return false;">http://news.bbc.co.uk/sport1/hi/footbal ... 064599.stm</a>

Unbelievable the FA have come out and said Liverpool wont get the 9 point deduction even if they go into administration the excuse - The club is not insolvent only the owners, citing West Ham as another example. Except West Ham was sold before they were forced into administration. Also Liverpool clearly would be insolvent at least temporarily until RBS sold the club as they would have £300 million of debt which they are unable to pay (Until the club is sold)

If this is true it stinks and I would fully expect every club that have received a penalty and thus relegation to take legal action against the FA for compensation for being being penalised in similar circumstances.

Robert Peston on the BBC was saying administration would mean a 9 point penalty under the rules and legally speaking. So once again the corrupt fa change / bend the rules for one of their favourite clubs. If Liverpool do not go into administration in these circumstances and they dont received a points deduction I would expect several legal challenges from relegated clubs.

 

[CityPar]

Re: Liverpool Takeover Imminent?

For RBS to take over the club and sell it to recover their money they would have to put the club into administration so they could take control. This is like the action a mortgage provider takes to take back a home when a mortgage is in default, just for limited companies.

No way Liverpool would get away with a points deduction if this were to happen, its been proven at many clubs there is no way round it.

Clearly the board can see what is going to happen they are trying to save their jobs and reputations. In the truest sense this is a board room coup, they feel it is inevitable RBS will take control in 2 weeks anyway and sell the club to the buyers they have found, so why go through all the mess , points deduction etc if they can force a deal through now ?

Courts favour with their new bosses and makes their jobs easier moving forward.

I am no expert but from what I can see they dont have a leg to stand on legally, not until RBS Foreclose on the 15th of October, this is all a show for the fans and what will probably become the new owners at some point down the line.

RBS will not be taking over the club though. Only the holding company so it's not the same. LFC will not be deducted points. They are not the ones going into Admin and as said earlier, contrary to popular myth, LFC are solvent in their own right. For the Yanks to hold on they need to get rid of the bank and it seems increasingly unlikely they can as no-one will refinance with them. Only other recourse is through the courts which will be messy but it seems likely they would lose this too.

 

[Cambridgeblue]

Re: Liverpool Red Sox

US firm Weil Gotshal & Mangies are acting for Hicks & Gillette.

Slaughter & May are acting for Liverpool FC and Sherman & Sterling (another US firm) are acting for NESV.

Looking on the RCJ listings I've not found anything yet but will keep an eye out.

 

[Damocles]

Re: Liverpool Takeover Imminent?

I have a good analogy for this whole situation.

Me and all of the Bluemoon Mods have agreed a £150 sale to an American fansite.
Ric says no, but we think we can push the deal through.

Ric might own all the shares, have the ability to shut this pace down tomorrow, etc, and we are basically glorified sweeper-uppers, but we've agreed it, so it's definitely happening.

 

[alera]

Re: Liverpool Takeover Imminent?

Except he controls the server and domain registration so you cant....You could do it but it wouldnt be legal. At the end of the day you can do or say anything doesnt mean it will stand up in a court of law.

Until RBS takeover, the club cant be sold without the agreement of the majority shareholers that is my understanding.

The board can go to court and argue that without the deal the club will go into administration and would be sold to the buyers for the agreed price anyway, and they would still probably loose.

BUT and its a big but how long does it take to go to the high court and argue the toss on this + appeal. Certainly longer than 10 days. This is the whole point its in the legal system now and in 10 days before it ever comes to court it will happen anyway unless the current owners can refinance the debt - which seems very unlikely. If they could have done it they would have long before now.

Its going to happen its just a question of when but there will be a whole host of legal action over this, against the directors, against RBS, and quite possibly against the Premier League if it is seen they are facilitating the deal through there inaction.

 

[mike channon´s windmill]

Re: Liverpool Takeover Imminent?

Except he controls the server and domain registration so you cant....You could do it but it wouldnt be legal. At the end of the day you can do or say anything doesnt mean it will stand up in a court of law.

Until RBS takeover, the club cant be sold without the agreement of the majority shareholers that is my understanding.

The board can go to court and argue that without the deal the club will go into administration and would be sold to the buyers for the agreed price anyway, and they would still probably loose.

BUT and its a big but how long does it take to go to the high court and argue the toss on this + appeal. Certainly longer than 10 days. This is the whole point its in the legal system now and in 10 days before it ever comes to court it will happen anyway unless the current owners can refinance the debt - which seems very unlikely. If they could have done it they would have long before now.

Its going to happen its just a question of when but there will be a whole host of legal action over this, against the directors, against RBS, and quite possibly against the Premier League if it is seen they are facilitating the deal through there inaction.

Could they obtain a High Court injunction though preventing RBS takeover whilst legal proceedings are initiated?

 

[Mikeegrini]

Re: Liverpool Takeover Imminent?

Except he controls the server and domain registration so you cant....You could do it but it wouldnt be legal. At the end of the day you can do or say anything doesnt mean it will stand up in a court of law.

Until RBS takeover, the club cant be sold without the agreement of the majority shareholers that is my understanding.

The board can go to court and argue that without the deal the club will go into administration and would be sold to the buyers for the agreed price anyway, and they would still probably loose.

BUT and its a big but how long does it take to go to the high court and argue the toss on this + appeal. Certainly longer than 10 days. This is the whole point its in the legal system now and in 10 days before it ever comes to court it will happen anyway unless the current owners can refinance the debt - which seems very unlikely. If they could have done it they would have long before now.

Its going to happen its just a question of when but there will be a whole host of legal action over this, against the directors, against RBS, and quite possibly against the Premier League if it is seen they are facilitating the deal through there inaction.

Could they obtain a High Court injunction though preventing RBS takeover whilst legal proceedings are initiated?

and as the loan date would have expired, would the interest rates become punitive, who would be responsible club or shareholders?

 

[halpo123]

Re: Liverpool Red Sox

Bet they glad to get rid of those Yanks uh.....oh, hang on. Ha ha ha ha.

Wonder what they'll do with all those banners - Yanks Out, No Thanks Yanks and so on. Hope they'll need them before the season ends!

ha ha....shouldn`t laugh but these scousers are funny

 

[alera]

Re: Liverpool Takeover Imminent?

No idea you can see how messy it gets though.

So funny all the Liverpool fans are going on about anfields capacity being increased by 15 - 20k now.

This guy increased fenway park from 30 - 37k it was built in 1912 and by american stadia stnadards its no where near big enough and completly unfit for purpose.

Redeveloping anfield to any major degree is virtually impossible anyway, its surrounded by houses they would never get agreement from local residents or the council plus any work would lead to a huge reduction in capcity whilst it was being undertaken.

 

[halpo123]

Re: Liverpool Takeover Imminent?

big nose thompson "doesn`t want to be like man city or chelsea" " although it would be nice to shop in Harrods".ha ha ,stick your big fuckin nose to the window cos your not getting in