Texas court halts sale of Dippers

[mike channon´s windmill]

"We'd expect this to be a venue and jurisdiction fight, for sure," he added.


This could be interesting though coz if a judge in Dallas were to accept this there could be one almighty drawn out battle

 

[Blue Mooner]

No one can dispute that Hicks and Gillette have been bad for Liverpool and placed them in debt that has hampered their ability to compete.

However, that said, they are the legal owners of the club and the way that the RBS, Broughton et al are trying to sell the club from under them leaves a sour taste in the mouth.

The reality is that in effect Liverpool 'should' have been placed in admininstration back at the time that RBS agreed to extend the debt for a further period of months using the leverage they had to force H&G to accept the CGSL and thus putting the sale in the hands of Broughton and the other RBS appointed board directors. H&G agreed this as they didn't have much choice BUT they expected the club to be sold at fair value and not £300million which greatly undervalues the clubs worth. If that represented fair value then the Rags are well and truly f*cked as their sale wouldn't even recoup their debts based on that valuation as a benchmark.

Thus H&G are quite within their rights to use every means at their disposal as they are being well and truly shafted and its clear that Broughton has not found a buyer willing to pay fair value. They are being sold as if they are a club already in administration and THIS is the bit that really gets my goat.

Liverpool have known of the impending RBS deadline for payment of the debt, they could have gone a LONG way to settling this debt had they sold the likes of Torres, Reina, Gerrard but they didn't and as it stands they are selling the club at a distressed price to prevent the 9 point penalty and to be honest it stinks.

I hope that H&G are successful in delaying the sale and put the onus on RBS to put them in administration or extend the loan deadline again to H&G who would not then accept a further CGSL which would put H&G back in the driving seat to achieve fair value or start to sell players to pay off the debt.

 

[leighton]

What happens tomorrow if the court in Texas favours H&G? Will Liverpool go into administration or not? Also if 2 seperate courts are favouring different sides how do they sort it out. It may never get sorted only if they are happy to go to a court outside of the UK or US and go with there ruling on it not being bias to either side.

 

[toffeetom]

Please don't let it end, I hope it's all up in the air come sunday.

 

[VOOMER]

<a class="postlink" href="http://soccerlens.com/nesv-will-borrow-money-for-liverpool-just-like-hicks-and-gillett/57842/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogfc+(Soccerlens+(BlogFC" onclick="window.open(this.href);return false;">http://soccerlens.com/nesv-will-borrow- ... ns+(BlogFC</a>))

Boston Red Sox = status quo team franchise, no transfer fee's, one team, one sport town, with 80, 3 hour home games to sell merchandise, 160 games in total played over only 4 months in the only serious baseball league in the world in the number one baseball rivalry with the biggest baseball team ever the Yankees

Liverpool = 18 home games, lasting 90 mins, transfers fees and relegation, international competition for any decent to great player

Infact the only thing they have in common is that they both play in stadiums that need rebuilding and have ageing key players and lost key players.

Henry will sell the club on inside 18 months for £450 million

 

[Cambridgeblue]

http://soccerlens.com/nesv-will-borrow-money-for-liverpool-just-like-hicks-and-gillett/57842/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+blogfc+(Soccerlens+(BlogFC))

Boston Red Sox = status quo team franchise, no transfer fee's, one team, one sport town, with 80, 3 hour home games to sell merchandise, 160 games in total played over only 4 months in the only serious baseball league in the world in the number one baseball rivalry with the biggest baseball team ever the Yankees

Liverpool = 18 home games, lasting 90 mins, transfers fees and relegation, international competition for any decent to great player

Infact the only thing they have in common is that they both play in stadiums that need rebuilding and have ageing key players and lost key players.

Henry will sell the club on inside 18 months for £450 million

Spot f***ing on.

 

[Joga Bonito]

Haha I'm sorry but I really don't understand what say a Texas court has over this matter but I suppose that's American justice for you.

Is there a deadline they have to meet in order to avoid administration?

It would be quite entertaining to see Liverpool at the bottom of the table with negative points.

 

[BobKowalski]

No one can dispute that Hicks and Gillette have been bad for Liverpool and placed them in debt that has hampered their ability to compete.

However, that said, they are the legal owners of the club and the way that the RBS, Broughton et al are trying to sell the club from under them leaves a sour taste in the mouth.

The reality is that in effect Liverpool 'should' have been placed in admininstration back at the time that RBS agreed to extend the debt for a further period of months using the leverage they had to force H&G to accept the CGSL and thus putting the sale in the hands of Broughton and the other RBS appointed board directors. H&G agreed this as they didn't have much choice BUT they expected the club to be sold at fair value and not £300million which greatly undervalues the clubs worth. If that represented fair value then the Rags are well and truly f*cked as their sale wouldn't even recoup their debts based on that valuation as a benchmark.

Thus H&G are quite within their rights to use every means at their disposal as they are being well and truly shafted and its clear that Broughton has not found a buyer willing to pay fair value. They are being sold as if they are a club already in administration and THIS is the bit that really gets my goat.

Liverpool have known of the impending RBS deadline for payment of the debt, they could have gone a LONG way to settling this debt had they sold the likes of Torres, Reina, Gerrard but they didn't and as it stands they are selling the club at a distressed price to prevent the 9 point penalty and to be honest it stinks.

I hope that H&G are successful in delaying the sale and put the onus on RBS to put them in administration or extend the loan deadline again to H&G who would not then accept a further CGSL which would put H&G back in the driving seat to achieve fair value or start to sell players to pay off the debt.

H&G are in this mess because they could not meet the conditions of the loan in terms of the repayment schedule. Once you are in danger of defaulting the only option is refinancing and once they did that RBS became the de facto owners of Liverpool FC. RBS called the shots and put their own men in charge of ensuring that their (RBS) position was protected and selling the club was the only way that RBS's liabilities could be met which is pretty much all RBS are interested in.

H&G were owners in name only and the only surprise is that anyone is surprised that the asking price for Liverpool became what was owed to the RBS. All Broughton had to do is sound out the best buyer he could at £300m and then announce it as a done deal a few days before the refinancing deal expired leaving H&G to run around trying desperately to pull their collective arses out of the fire.

But then their collective arses were in the fire because they f**ked up in the first place so I have zero sympathy. Its called business and thats the way it goes. Furthermore a private company is only worth what someone is prepared to pay for it and no one is going to offer more that what RBS was owed on the deal. There is no such thing as 'fair value'. Fair value is arbitrary and has no meaning for a private company. There is such a thing as 'market value' and Liverpool's market value is £300m. Its a bit like house prices when a bedsit in Kensington is worth more than a detached cottage set in 2 acres in Somerset. Fair it is not but market value it is.

H&G could have regained control of Liverpool at any time they liked. All they had to do is pay RBS £300m which given they think is cheap you have to wonder why they didn't - save for the fact they didn't have the money. H&G gambled and lost. They deserve everything they get which according to the rules by which the play will be jackshit.

 

[toffeetom]

Haha I'm sorry but I really don't understand what say a Texas court has over this matter but I suppose that's American justice for you.

Is there a deadline they have to meet in order to avoid administration?

It would be quite entertaining to see Liverpool at the bottom of the table with negative points.

It's unlikely RBS will put the RS into admin tomorrow, well not until the outcome of the court case is over because they have a prospective buyer who is willing to clear their debt. If Hicks and Gillete slow down the deal for another week though NESV might give up, which would probably mean they go into admin.

 

[Mikeegrini]

No one can dispute that Hicks and Gillette have been bad for Liverpool and placed them in debt that has hampered their ability to compete.

However, that said, they are the legal owners of the club and the way that the RBS, Broughton et al are trying to sell the club from under them leaves a sour taste in the mouth.

The reality is that in effect Liverpool 'should' have been placed in admininstration back at the time that RBS agreed to extend the debt for a further period of months using the leverage they had to force H&G to accept the CGSL and thus putting the sale in the hands of Broughton and the other RBS appointed board directors. H&G agreed this as they didn't have much choice BUT they expected the club to be sold at fair value and not £300million which greatly undervalues the clubs worth. If that represented fair value then the Rags are well and truly f*cked as their sale wouldn't even recoup their debts based on that valuation as a benchmark.

Thus H&G are quite within their rights to use every means at their disposal as they are being well and truly shafted and its clear that Broughton has not found a buyer willing to pay fair value. They are being sold as if they are a club already in administration and THIS is the bit that really gets my goat.

Liverpool have known of the impending RBS deadline for payment of the debt, they could have gone a LONG way to settling this debt had they sold the likes of Torres, Reina, Gerrard but they didn't and as it stands they are selling the club at a distressed price to prevent the 9 point penalty and to be honest it stinks.

I hope that H&G are successful in delaying the sale and put the onus on RBS to put them in administration or extend the loan deadline again to H&G who would not then accept a further CGSL which would put H&G back in the driving seat to achieve fair value or start to sell players to pay off the debt.

I think you are mixing moral argument with legal.

''Broughton et al'' are only trying to sell the club before they, the club, default and therefore go it to administration for the obvious (9 point deduction) reason. A club like Lpool will always have a buyer the income is huge but players in this arena only became players by knowing how to take advantage in negotiations

The club didn't go into admin. at the extension of the loan because the terms were changed and so default was held off. As part of this negotiation (from which G&H also benefited by being given the time to look for a buyer) H&G gave up ultimate control of who, for how much and when. These decisions were given to the board minus G&H. G&H signed up for this.

Who has bid more than over £300 mil offered by the new American regime either before or after the extension?? Fair market value is no more than what someone is prepared to pay.

By selling the assets, Torres etc to pay the debt this would only depress the 'book' value of the club and so the market value would diminish??