Texas court halts sale of Dippers

[BobKowalski]

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.

Agreed. RBS will do everything they can to avoid administration because this will damage the 'asset' and potentially reduce its market value where a sale does not cover the Bank's liabilities. Its just not in the Bank's interests.

 

[Nicky D]

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.

No, what really stinks is the way that Hicks and Gillett have sunk a successful club deep into the mire, running it without any credibility or competence. It is they who are doing the shafting.

Just imagine if it were City in the same situation. We'd want Hicks and Gillett screwed for everything that they're worth, and quite rightly too.

 

[smudgedj]

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.

Agreed. RBS will do everything they can to avoid administration because this will damage the 'asset' and potentially reduce its market value where a sale does not cover the Bank's liabilities. Its just not in the Bank's interests.

Neither is fighting a long drawn out battle in the courts. As much as I would find it amusing. I think the bank should put them into admin. and take control, no more court case, can't get sued and can take the moral high ground, at least they tried to sell it on.

 

[BobKowalski]

Agreed. RBS will do everything they can to avoid administration because this will damage the 'asset' and potentially reduce its market value where a sale does not cover the Bank's liabilities. Its just not in the Bank's interests.

Neither is fighting a long drawn out battle in the courts. As much as I would find it amusing. I think the bank should put them into admin. and take control, no more court case, can't get sued and can take the moral high ground, at least they tried to sell it on.

If it turns out to be a long drawn out battle in the courts then RBS may have to rethink it but so far the Courts in the UK have ruled against H&G very quickly.

The action in the States is smoke and mirrors designed to help when H&G sue RBS and NESLV after the sale has gone through in an attempt to claw something out of this mess.

The US has no jurisdiction over Liverpool FC or how it is run or how the LFC board conducts its business. The only way US jurisdiction could have come into play is if part of the refinancing deal RBS had agreed to submit to US jurisdiction in the event of any dispute between the three parties (RBS, the LFC board, H&G). RBS though were never going to agree to that and clearly didn't otherwise the UK courts would have deferred to such agreement.

 

[Blue Mooner]

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.

No, what really stinks is the way that Hicks and Gillett have sunk a successful club deep into the mire, running it without any credibility or competence. It is they who are doing the shafting.

Just imagine if it were City in the same situation. We'd want Hicks and Gillett screwed for everything that they're worth, and quite rightly too.

But its not my club and I couldn't give two f*cks for Liverpool, H&G or anyone else connected to the club. What I am bothered about is a club that is effectively cheating by having players that they can't currently afford.

If you hadn't forgotten this is one of our competitors for the top four and they should either have sold those players or taken the 9 point penalty. If neither happens then its a disgrace.

I will never do any business with RBS a scouse loving bank.

 

[BobKowalski]

No, what really stinks is the way that Hicks and Gillett have sunk a successful club deep into the mire, running it without any credibility or competence. It is they who are doing the shafting.

Just imagine if it were City in the same situation. We'd want Hicks and Gillett screwed for everything that they're worth, and quite rightly too.

But its not my club and I couldn't give two f*cks for Liverpool, H&G or anyone else connected to the club. What I am bothered about is a club that is effectively cheating by having players that they can't currently afford.

If you hadn't forgotten this is one of our competitors for the top four and they should either have sold those players or taken the 9 point penalty. If neither happens then its a disgrace.

I will never do any business with RBS a scouse loving bank.

You only go into admin when you cannot meet your liabilities. If RBS do not call in the loan then LFC can meet its liabilities. If RBS formally takeover LFC it makes little difference as RBS are the de facto owners anyway and taking over an asset and then forcing that asset into administration would be dumb.

West Ham were taken over by the Banks with no admin or penalties and the same will happen to LFC.

 

[Blue Mooner]

But its not my club and I couldn't give two f*cks for Liverpool, H&G or anyone else connected to the club. What I am bothered about is a club that is effectively cheating by having players that they can't currently afford.

If you hadn't forgotten this is one of our competitors for the top four and they should either have sold those players or taken the 9 point penalty. If neither happens then its a disgrace.

I will never do any business with RBS a scouse loving bank.

You only go into admin when you cannot meet your liabilities. If RBS do not call in the loan then LFC can meet its liabilities. If RBS formally takeover LFC it makes little difference as RBS are the de facto owners anyway and taking over an asset and then forcing that asset into administration would be dumb.

West Ham were taken over by the Banks with no admin or penalties and the same will happen to LFC.

Thanks you've made my point for me Bob. Liverpool clearly could not meet its obligations to RBS back in April hence why they got a stay of execution to sell the club and Broughton was put in charge to do so - Administration in all but name - and that is exactly my point. Under most normal circumstances when a company is unable to meet its obligations then the bank can take control of the company and places it into administration to recover its debts. RBS have chosen not to as they are fearful that doing so due to the negative impact such a decision would have on its business.

Well I'm here to make the point that there are many more non Liverpool fans who are more outraged by the fact that RBS haven't placed them into administration and taken the 9 point penalty that they should for operating above their means. We all know that Liverpool can't meet the liability on the debt owed to them by tomorrow and are instead trying to foist a sale on the legal owners WELL below the market value of the club to recover their monies and thus avoid the 9 point penalty that is due.<br /><br />-- Fri Oct 15, 2010 12:06 am --<br /><br />

But its not my club and I couldn't give two f*cks for Liverpool, H&G or anyone else connected to the club. What I am bothered about is a club that is effectively cheating by having players that they can't currently afford.

If you hadn't forgotten this is one of our competitors for the top four and they should either have sold those players or taken the 9 point penalty. If neither happens then its a disgrace.

I will never do any business with RBS a scouse loving bank.

You only go into admin when you cannot meet your liabilities. If RBS do not call in the loan then LFC can meet its liabilities. If RBS formally takeover LFC it makes little difference as RBS are the de facto owners anyway and taking over an asset and then forcing that asset into administration would be dumb.

West Ham were taken over by the Banks with no admin or penalties and the same will happen to LFC.

On the West Ham point Bob West Ham avoided the 9 point penalty as their Holding company (can't remember their name Hansa or something like that) were not a holding company wholly and only related to West Ham, therefore, West Ham could not be held culpable for their holding company going into administration as it was external factors outside of football (ie the banking crisis) that caused it to go out of business. Fundamentally different from the Liverpool situation.

 

[BobKowalski]

You only go into admin when you cannot meet your liabilities. If RBS do not call in the loan then LFC can meet its liabilities. If RBS formally takeover LFC it makes little difference as RBS are the de facto owners anyway and taking over an asset and then forcing that asset into administration would be dumb.

West Ham were taken over by the Banks with no admin or penalties and the same will happen to LFC.

Thanks you've made my point for me Bob. Liverpool clearly could not meet its obligations to RBS back in April hence why they got a stay of execution to sell the club and Broughton was put in charge to do so - Administration in all but name - and that is exactly my point. Under most normal circumstances when a company is unable to meet its obligations then the bank can take control of the company and places it into administration to recover its debts. RBS have chosen not to as they are fearful that doing so due to the negative impact such a decision would have on its business.

Well I'm here to make the point that there are many more non Liverpool fans who are more outraged by the fact that RBS haven't placed them into administration and taken the 9 point penalty that they should for operating above their means. We all know that Liverpool can't meet the liability on the debt owed to them by tomorrow and are instead trying to foist a sale on the legal owners WELL below the market value of the club to recover their monies and thus avoid the 9 point penalty that is due.

-- Fri Oct 15, 2010 12:06 am --

You only go into admin when you cannot meet your liabilities. If RBS do not call in the loan then LFC can meet its liabilities. If RBS formally takeover LFC it makes little difference as RBS are the de facto owners anyway and taking over an asset and then forcing that asset into administration would be dumb.

West Ham were taken over by the Banks with no admin or penalties and the same will happen to LFC.

On the West Ham point Bob West Ham avoided the 9 point penalty as their Holding company (can't remember their name Hansa or something like that) were not a holding company wholly and only related to West Ham, therefore, West Ham could not be held culpable for their holding company going into administration as it was external factors outside of football (ie the banking crisis) that caused it to go out of business. Fundamentally different from the Liverpool situation.

Good point on the WHU situation if as you say the holding company had other assets other than WHU whereas Kop Holdings has only one asset namely LFC (at least as far as I am aware).

But for RBS putting LFC into admin is damaging their interests as the main creditor and will hinder their chance of recovering the debt in full. You could argue that they would be open to legal challenges from shareholders if their own actions resulted in a bad debt so their only real course of action is to keep LFC afloat until they get a buyer for the football club that retains its main assets (players) and is not penalised with a points deduction. For RBS it really is a no brainer.

 

[80s Shorts]

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.

No, what really stinks is the way that Hicks and Gillett have sunk a successful club deep into the mire, running it without any credibility or competence. It is they who are doing the shafting.

Just imagine if it were City in the same situation. We'd want Hicks and Gillett screwed for everything that they're worth, and quite rightly too.

Swales ??????? Sorry if your 12

 

[josh06]

Is it just me or was the Liverpool chairman pissed during his interview on ssn before?