Texas court halts sale of Dippers

rickmcfc said:
Blue Tooth said:
That's Easy...Liverpool are fucked.
Click to expand...

Thanks for your "long and thoughtsome" reply really appreciated. Now could you maybe delve a little deeped for me please, cheers.
Click to expand...
From Peston's blog

The high court has ordered Tom Hicks to withdraw the restraining order on the deal which he obtained from a Texas court. He has until 1600 tomorrow (UK time) to comply
Click to expand...

There's a hearing in Texas tonight. Should become clearer after that.

I don't see how the UK High Court could reasonably ask a US citizen to withdraw their claim from a US court regardless of the strengths and weaknesses of their claim.
 
Marvin said:
rickmcfc said:
Thanks for your "long and thoughtsome" reply really appreciated. Now could you maybe delve a little deeped for me please, cheers.
Click to expand...
From Peston's blog

The high court has ordered Tom Hicks to withdraw the restraining order on the deal which he obtained from a Texas court. He has until 1600 tomorrow (UK time) to comply
Click to expand...

There's a hearing in Texas tonight. Should become clearer after that.

I don't see how the UK High Court could reasonably ask a US citizen to withdraw their claim from a US court regardless of the strengths and weaknesses of their claim.
Click to expand...

Fortunately the law is an ass. The judge can say anyone is in contempt of court at any time for any reason. So he says "you have deliberately tried to circumvent my ruling by coming up with this daft US action, and unless you withdraw it, I will find you in contempt of court." Or words to that effect.

He could send them to prison should he so chooses, and they could appeal from the prison cell, which would go down a treat of course. Assuming of course they decide to stay in this country. I doubt we'd extradite them over it.
 
Cambridgeblue said:
shootmeifipost10k said:
Cambridgeblue can I ask you a couple of questions as I've no idea how these things work

If G&H came up with the money before deadline of the loans are they simple able to pay it off even after the ruling in court yesterday?

Also if the club gets sold and at a later date it is found RBS and the board who voted on the sale didn't act with the shareholders interest,what happens ? would it be a case of H&G sueing or could they in any way make a claim for ownership of the club if they got funding to pay of the RBS debt that was place before the sale.

Thickos wording would be appreciated
Click to expand...

If they came up with the money in time and there was no completed agreement to sell then they would, probably, be able to retain control. The reason I say probably is that the arrangements are complicated and nobody has the full picture (except the board, RBS and Hicks + Gillette).

As for the second point if a sale were agreed at an undervalue, as H&G say it will be if the NESV bid goes ahead, then the result would be H&G suing the directors and possibly RBS for the loss of value (i.e. the difference between the sale and the market value). They certainly would not regain control of the club.
Click to expand...


Cheers mate.

It's like ping pong

Will be an interesting read when all the details come out, I'm sure win or loose H&G will put it out there.Don't think either side will come out of it looking good.

These buisnessmen can be right dodgey fuckers as for lawyers the less said the better ;0)
 
JoeMercer'sWay said:
i think it's all ludicrous.
Click to expand...

I think if you were faced with losing maybe £100m of your own money, you might come up with a stronger word than ludicrous!

I can't honestly blame h&g from trying to do anything they can to stop the sale. They presumably figure if it were stopped, RBS would not wind them up. And I agree, I don't think they would, so long as any prospect of a sale was on the horizon somewhere. They'd get such sh*t publicity over basically being the ones to bring Liverpool down, I just don't think they would do it unless it was the total and utter last resort.

H&g want to stop the sale any way they possibly can, so they can have a chance to find a better deal, or refinance and try to improve the worth of the company so they don't lose quit so much.
 
Someone else posted that H&G didn't even bother to argue their case in Court so that suggests that they are focussing their efforts on the US.

If the US court rules that the US action can continue then that will place the RBS in a very difficult position - they can't ignore the potential impact on their US interests
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top
✖
  AdBlock Detected
Bluemoon relies on advertising to pay our hosting fees. Please support the site by disabling your ad blocking software to help keep the forum sustainable. Thanks.