Texas court halts sale of Dippers

[Dubai 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 ;-)

I could almost hear the sound of stamping Reebok Classics as I read through that!

 

[tolmie's hairdoo]

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...

Quelle surprise!!

 

[C_T_I_D]

Since when have letters had any impact? Do they seriously think bombarding them with e-mails or letters will do any damage or prevent a sale? I am sure that H & G will have been sent them, the Glazers probably sent them from international rags and London rags etc and it done nothing to prevent sales or decisions at top level being made.

The kopites are wasting their time sending that e-mail and the "delete" button will come in very handy for the administrator of those e-mails. When will they realise that the fans are powerless to prevent whatever occurs from happening?

 

[Seasideblue]

Ah well got to go get a train to Glasgow so will miss all the fun this afternoon keep us updated guys

Aint it good to be blue :-)

 

[Alba555]

It's a shame it's come to this in a way. I mean ive got absolutely no affection for Liverpool what so ever, but I always hoped, if they were to crumble it would be because they are playing awful on the pitch, and another team (City) are setting the prem alight!! ;)

Just makes you realise how fortunate we are to have our owners... financilally stable (understatement of the year), trustworthy, passionate & planning to give this club a bright future. can't ask for much more than that.

 

[fbloke]

It's a shame it's come to this in a way. I mean ive got absolutely no affection for Liverpool what so ever, but I always hoped, if they were to crumble it would be because they are playing awful on the pitch, and another team (City) are setting the prem alight!! ;)

Just makes you realise how fortunate we are to have our owners... financilally stable (understatement of the year), trustworthy, passionate & planning to give this club a bright future. can't ask for much more than that.

Look on the bright side that is also true ;-)<br /><br />-- Thu Oct 14, 2010 1:04 pm --<br /><br />

Since when have letters had any impact? Do they seriously think bombarding them with e-mails or letters will do any damage or prevent a sale? I am sure that H & G will have been sent them, the Glazers probably sent them from international rags and London rags etc and it done nothing to prevent sales or decisions at top level being made.

The kopites are wasting their time sending that e-mail and the "delete" button will come in very handy for the administrator of those e-mails. When will they realise that the fans are powerless to prevent whatever occurs from happening?

They seem to think that they are helping...

http://bleacherreport.com/articles/...amaged-the-search-for-a-new-billionaire-owner

 

[C_T_I_D]

If Liverpool had a better start they would be a much more attractive proposition to the right owner with appropriate financial backing but given that they have a Liverpool - Everton derby and are right in the mire of the relegation zone at the moment, it is bad times for them.

I am glad they have been taken down a peg, but not this extent. I would not want them to be a threat, but I'd like them to be able to compete in a funny way given past accomplishments and the prestige of the club.

 

[Cambridgeblue]

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.

There is no reciprocal agreement between the US and UK re the enforcement of judgements.

The reason the US injunction has been effective is that the parties have assets in the US which could be called upon if they breached the restraining order.

I am no expert on US law but I would imagine that the restraining order acts in the same way as our equitable orders (like prohibitory or mandatory injuctions) i.e. that they operate "in personam" (meaning against the person) rather than "in rem" (meaning against the asset).

 

[sutty66]

Will they get a 9 point deduction still?

 

[C_T_I_D]

Will they get a 9 point deduction still?

Only if they have been placed into administration but I would not expect it to come to that.