Texas court halts sale of Dippers

[hello]

Time for a sanity check folks.

Have been told that RBS are now holding out for ALL fees owed (some of which were apparently to be waived as part of the NESV deal).

The bill to Mill Fin' just went up by about £40m apparently.

RBS now seemingly fighting on behalf of the 'English Board'

This 2pm deadline will include RBS backing the NESV deal or Administration at 12 midnight unless the punitive fees are paid.

why would rbs waive fees for one bidder and not others when the majority sharholder is the tax payer. Surely its in the countries interest to claim all monies due given their own perdicament.

 

[fbloke]

And Rob Peston -

"Royal Bank of Scotland tells me that if it's true that Mill has taken the Hicks/Gillett shares and if Mill repays the £200m long-term debt owed by Liverpool FC (plus penalty fees) to RBS and Wachovia, then Mill is in the driving seat.

Once the debt is repaid, RBS's power ends.

At that point, the deal with New England Sports Ventures collapses.

Liverpool would have a new owner, Mill. And Mill will do with Liverpool what it pleases."

Sounds very much like this could happen...

 

[Cambridgeblue]

I struggle to see HOW a UK court could possibly put an end to a US court order except by way of another mandatory injunction against Hicks and Gillette forcing them to cease their injunction.

The jurisdictional issues however make it a very thorny issue as the UK courts will not want to be seen to be trampling over the affairs of the US court.

Question for you here CB What is the 2pm hearing for ?

I agree with you I cannot see the English courts wanting to interfere with a Texas court so i can only see a defeat today at 2 pm for Broughton and Co.

Can only see the judge saying i have ruled yesterday and that ruling stands. If you wish to overturn the Texas ruling f**k off over to texas and get it overturned.

Which gives H&G the time they want.

I also think that h&g may be thinking that RBS WILL NOT push the administration button tomorrow.

The only way I can see it happening is if the CGSL letter (see my report from yesterday) is wide enough to prevent Hicks & Gillette from obtaining the restraining order in the US (perhaps something along the lines of 'take no steps to frustrate a reasonable sale').

If that is the case then a mandatory injunction might be granted to force H&G to remove the restraining order.

 

[fbloke]

Time for a sanity check folks.

Have been told that RBS are now holding out for ALL fees owed (some of which were apparently to be waived as part of the NESV deal).

The bill to Mill Fin' just went up by about £40m apparently.

RBS now seemingly fighting on behalf of the 'English Board'

This 2pm deadline will include RBS backing the NESV deal or Administration at 12 midnight unless the punitive fees are paid.

why would rbs waive fees for one bidder and not others when the majority sharholder is the tax payer. Surely its in the countries interest to claim all monies due given their own perdicament.

That goes to the central point that Hicks is using in the states, why would a bank do that if all was fair and above board?

They alluded in the High Court that RBS was willing to forgo some fees in order to facilitate a quick sale and that all that was put at risk if H and G stalled the deal.

It seems that RBS is willing to stall in order to get a specific deal in place, why?

A letter from RBS to some bidders also made it clear that they would not support a bid that gave any form of profit to the equity holders (H and G) and why would they need to say that?

 

[Seasideblue]

Question for you here CB What is the 2pm hearing for ?

I agree with you I cannot see the English courts wanting to interfere with a Texas court so i can only see a defeat today at 2 pm for Broughton and Co.

Can only see the judge saying i have ruled yesterday and that ruling stands. If you wish to overturn the Texas ruling f**k off over to texas and get it overturned.

Which gives H&G the time they want.

I also think that h&g may be thinking that RBS WILL NOT push the administration button tomorrow.

The only way I can see it happening is if the CGSL letter (see my report from yesterday) is wide enough to prevent Hicks & Gillette from obtaining the restraining order in the US (perhaps something along the lines of 'take no steps to frustrate a reasonable sale').
If that is the case then a mandatory injunction might be granted to force H&G to remove the restraining order.

And my un legal mind would say to this

This is not a reasonable sale it is a sale at a gross undervalue and so the cirus continues


looooooooooooooooooool

 

[Anonymous]

The Mickeys are now bombarding Mill Financial with this email...

Dear Mill Financial,

Reports are reaching us in the UK this morning that you are about to take over the shares of George Gillett and Tom Hicks, thus owning Liverpool Football Club.

Just to ensure you are aware of our position, you are not welcome in any way, shape or form. You have shown us what sort of company you are by initially lending money to George Gillett, who is nothing more than an asset stripping parasite.

This is the sort of association you have, and the sort of association Liverpool fans have with you.

If you get involved with our club, we will take action against you at every turn. Hedge funds are not welcome in any walk of life; they most certainly are not in football. There has been an exhaustive, and now ongoing legal process, to determine who the best bidder for Liverpool Football Club is. And it is not Mill Financial.

We will target every one of your business interests, and specifically Liverpool Football Club, if your attempts to take control of the club are successful.

Mill Financial are not, and will never be fit and proper owners. Your association with George Gillett and now Tom Hicks means that by default.

Take your hedge funds back to Wall Street, where they belong, and get away from our football club.

KOP FAITHFUL

Well, I think that should do the job ;-)

 

[Braggster]

Question for you here CB What is the 2pm hearing for ?

I agree with you I cannot see the English courts wanting to interfere with a Texas court so i can only see a defeat today at 2 pm for Broughton and Co.

Can only see the judge saying i have ruled yesterday and that ruling stands. If you wish to overturn the Texas ruling f**k off over to texas and get it overturned.

Which gives H&G the time they want.

I also think that h&g may be thinking that RBS WILL NOT push the administration button tomorrow.

The only way I can see it happening is if the CGSL letter (see my report from yesterday) is wide enough to prevent Hicks & Gillette from obtaining the restraining order in the US (perhaps something along the lines of 'take no steps to frustrate a reasonable sale').

If that is the case then a mandatory injunction might be granted to force H&G to remove the restraining order.

I suspect the argument will be that, under English private international law, the Texas court did not have jurisdiction to issue the injunction.

If correct, the Texas injunction is not enforceable as a matter of English law and will not therefore impede the sale.

 

[Prestwich_Blue]

The Mickeys are now bombarding Mill Financial with this email...

Dear Mill Financial,

Reports are reaching us in the UK this morning that you are about to take over the shares of George Gillett and Tom Hicks, thus owning Liverpool Football Club.

Just to ensure you are aware of our position, you are not welcome in any way, shape or form. You have shown us what sort of company you are by initially lending money to George Gillett, who is nothing more than an asset stripping parasite.

This is the sort of association you have, and the sort of association Liverpool fans have with you.

If you get involved with our club, we will take action against you at every turn. Hedge funds are not welcome in any walk of life; they most certainly are not in football. There has been an exhaustive, and now ongoing legal process, to determine who the best bidder for Liverpool Football Club is. And it is not Mill Financial.

We will target every one of your business interests, and specifically Liverpool Football Club, if your attempts to take control of the club are successful.

Mill Financial are not, and will never be fit and proper owners. Your association with George Gillett and now Tom Hicks means that by default.

Take your hedge funds back to Wall Street, where they belong, and get away from our football club.

KOP FAITHFUL

Well, I think that should do the job ;-)

And if it doesn't, they'll uproot every hedge in Liverpool!

 

[fbloke]

The only way I can see it happening is if the CGSL letter (see my report from yesterday) is wide enough to prevent Hicks & Gillette from obtaining the restraining order in the US (perhaps something along the lines of 'take no steps to frustrate a reasonable sale').

If that is the case then a mandatory injunction might be granted to force H&G to remove the restraining order.

I suspect the argument will be that, under English private international law, the Texas court did not have jurisdiction to issue the injunction.

If correct, the Texas injunction is not enforceable as a matter of English law and will not therefore impede the sale.

The sale perhaps still goes ahead but the people and organisations named will be sued for a losses caused by their actions.

Ho hum ;-)

 

[m27]

The Mickeys are now bombarding Mill Financial with this email...

Dear Mill Financial,

Reports are reaching us in the UK this morning that you are about to take over the shares of George Gillett and Tom Hicks, thus owning Liverpool Football Club.

Just to ensure you are aware of our position, you are not welcome in any way, shape or form. You have shown us what sort of company you are by initially lending money to George Gillett, who is nothing more than an asset stripping parasite.

This is the sort of association you have, and the sort of association Liverpool fans have with you.

If you get involved with our club, we will take action against you at every turn. Hedge funds are not welcome in any walk of life; they most certainly are not in football. There has been an exhaustive, and now ongoing legal process, to determine who the best bidder for Liverpool Football Club is. And it is not Mill Financial.

We will target every one of your business interests, and specifically Liverpool Football Club, if your attempts to take control of the club are successful.

Mill Financial are not, and will never be fit and proper owners. Your association with George Gillett and now Tom Hicks means that by default.

Take your hedge funds back to Wall Street, where they belong, and get away from our football club.

KOP FAITHFUL

Well, I think that should do the job ;-)

That sounds like a libellous statement to me. I'd take the Scouse fuckers to Court for that.