Texas court halts sale of Dippers

[fbloke]

Mill already own the H and G shares though so would be in a very strong position to force a deal through, indeed they are very likely to be unstoppable IMO.

That may be fine from the perspectives of Mill and RBS, but aren't the board under a fiduciary duty to get the best price, and another party cannot bid fairlty without knowing what MIll's pitch is, surely?

If the shareholders accept a bid then all is OK?

 

[tolmie's hairdoo]

But if someone else comes up with £300m plus additional funds, aren't the board then obliged to go with that bid rather than the Mill one?

Only after tomorrow. This is the refinance deadline.

Anything prior to this date, has simply seen H&G attempting to refinance with RBS and others.

There is nothing they or anyone else can do if a £300m hat is pulled out of the hat.

Exactly why Mill are involved. Hicks would rather be on 50 per cent of something with them, than 100 per cent of nowt sitting on his thumbs and accepting a financial shafting.

 

[Seasideblue]

Mill already own the H and G shares though so would be in a very strong position to force a deal through, indeed they are very likely to be unstoppable IMO.

That may be fine from the perspectives of Mill and RBS, but aren't the board under a fiduciary duty to get the best price, and another party cannot bid fairlty without knowing what MIll's pitch is, surely?

No, if Mill refinance then the board is no longer in a position to sell in fact Broughton Ayres and Purslow will no longer be members of the board as they were only brought in by RBS to protect their(RBS) intrests

Hicks and Gillet would more tnan likley still be on the board and anyone else Mill Finance want to bring in and like Fbloke has said they aint in it for nothing so asset stripping is a distinct possibility in Jan.

 

[Cambridgeblue]

That may be fine from the perspectives of Mill and RBS, but aren't the board under a fiduciary duty to get the best price, and another party cannot bid fairlty without knowing what MIll's pitch is, surely?

No, if Mill refinance then the board is no longer in a position to sell in fact Broughton Ayres and Purslow will no longer be members of the board as they were only brought in by RBS to protect their(RBS) intrests

Hicks and Gillet would more tnan likley still be on the board and anyone else Mill Finance want to bring in and like Fbloke has said they aint in it for nothing so asset stripping is a distinct possibility in Jan.

Spot on... would be a brilliant f**k you to the Liverpool fans if it happened that way.

 

[coleridge]

That may be fine from the perspectives of Mill and RBS, but aren't the board under a fiduciary duty to get the best price, and another party cannot bid fairlty without knowing what MIll's pitch is, surely?

No, if Mill refinance then the board is no longer in a position to sell in fact Broughton Ayres and Purslow will no longer be members of the board as they were only brought in by RBS to protect their(RBS) intrests

Hicks and Gillet would more tnan likley still be on the board and anyone else Mill Finance want to bring in and like Fbloke has said they aint in it for nothing so asset stripping is a distinct possibility in Jan.

Thanks for that. I gathered that once I realised that Mill would effectively be the only shareholders after tomorrow so could reconstitute to the board. Then, the choices seems to be (1) asset stripping or (2) sell at a profit to a party that doesn't want to get involved with the current unseemly mess. I used DIC as an example of the latter although I don't pretend to have inside info like some others do [ahem].

 

[tolmie's hairdoo]

Morning fbloke.....I'm out all night and its going mental again!

What's the latest in laymans terms? Has CambridgeBlue been on again?
Are Mill Financial basically taking over then?

Cheers fella

Last night TRO was placed in Texas.

Since then the NESV dude came out and said he is willing to wait and that he hand a binding agreement.

Very shortly after the rumours of another deal landed on the radio and it turns out that Mill Fin have now bought both H and G's shares and they apparently are working WITH Hicks whilst looking to buy the remaining notes from RBS.

It seems that a new board will be constituted sometime today and it may well include Hicks but not Broughton!

NESV are likely to be gone and Mill will own the club. What they do the is the big Q'?

Todays date cannot be stressed enough for Liverpool fans.

Broughton and Co are at present attempting to lift the injuction long enough to sell today.

They will do it in a half hour window if they can.

If they can't, I believe Hicks and Mill may have had the last laugh.

 

[fbloke]

Lets not forget that Mill buying the club doesn't mean RBS and the Board wont get sued, if H and G can show that they have lost out financially then that is still on the agenda I expect.

Hicks is about to twist the knife and who could blame him?

Waaaaallllllkkkkkkkk Ooooonnnnnnn!

 

[mike channon´s windmill]

That may be fine from the perspectives of Mill and RBS, but aren't the board under a fiduciary duty to get the best price, and another party cannot bid fairlty without knowing what MIll's pitch is, surely?

No, if Mill refinance then the board is no longer in a position to sell in fact Broughton Ayres and Purslow will no longer be members of the board as they were only brought in by RBS to protect their(RBS) intrests

Hicks and Gillet would more tnan likley still be on the board and anyone else Mill Finance want to bring in and like Fbloke has said they aint in it for nothing so asset stripping is a distinct possibility in Jan.

Yep , that´s how I read it and I also think that Hicks has come up with a plan to profit from all this and get his own back on RBS, Broughton , the fans etc by royally shafting them - LFC have incurred Hicks´ wrath to some tune me thinks

 

[Prestwich_Blue]

Interesting information about the Dallas judge;

In 2008 the good judge received beaucoup funding for his failed campaign to win a seat on the Texas Supreme Court (yes, in Texas SC justices are VOTED into office). One organization caught my eye - K&L Gates LLP. Why? Because they provided Mr. Jordan with $10K in campaign contributions. One of the head partners for K&L Gates LLP is one Vester Hughes. Mr. Hughes shares multiple board seatings at various organizations with one Tom Hicks.

 

[Sef]

This is mental, when you thought football couldn't get more crazy. It's mad looking at the shit happening at Liverpool yet we're sat in 2nd, with a great new(ish) stadium, strong squad that dominates the England national team, one of the richest owners on the planet who has just made a quick £2.5b from Barclays, and is leading us to be one of Europe's finest both on and off the pitch. Yet Liverpool and are in the relegation zone, and frankly, pretty fucked. I knew nailing all those drugs at uni would have long term effects...I'm still tripping aren't I?!

Seriously though I feel for those scousers!

Erm let me think NO!

No f****r felt sorry for us when we fell down to Div 3 and when we were the proverbial Yo, Yo! So NO dont feel sorry for them just cant wait for it to happen to the Shit!!! ;-)