Texas court halts sale of Dippers

[The Fixer]

I see PB, am i the only one on here who feels pissed at the RBS for how much they appear to be in liverpools pocket?

You're not entirely wrong. If it was Joe Bloggs Ltd, RBS would probably have put the boot in long ago. Because this is a high-profile case and it could do substantial damage to their image, then it would seem they have been more cautious in their approach. Plus it's an asset they know can be sold for enough to cover their debt so they would be silly to prejudice that, whereas acting precipitously might.

I used to know the guy who managed these things for a large financial services company I worked for and he told me that you had judge each case on its merits and sometimes letting things run was better than diving in and risk losing out.

Basically like i said yesterday, if this was pompey the sword would have fallen without doubt.

 

[Chippy_boy]

I see PB, am i the only one on here who feels pissed at the RBS for how much they appear to be in liverpools pocket?

You're not entirely wrong. If it was Joe Bloggs Ltd, RBS would probably have put the boot in long ago. Because this is a high-profile case and it could do substantial damage to their image, then it would seem they have been more cautious in their approach. Plus it's an asset they know can be sold for enough to cover their debt so they would be silly to prejudice that, whereas acting precipitously might.

I used to know the guy who managed these things for a large financial services company I worked for and he told me that you had judge each case on its merits and sometimes letting things run was better than diving in and risk losing out.

I agree with all of that. And to be honest, it's not rocket science. Companies like RBS spend millions on building up their brand image and "the bank that broke Liverpool" is not an image they would want to pick up lightly.

I cannot see any scenario where they would call in the debt whilst there's any realistic prospect of a sale on the horizon. Of course they can't say this though, because they want their money and don't want to let the pressure off.

Of course I could be completely wrong, but I think anyone hoping for a 9 point deduction is clutching at straws.

 

[tolmie's hairdoo]

The RBS are playing a very dangerous games and Hicks and Mill know it.

This will roll on for months, both sides of the pond, should Mill and Hicks be denied the opportunity to repay on the existing terms.

4pm today.

It's the equivalent of me having the money to stop a overdraft charge, but the RBS deciding to close the branch early, to stop me.

Morning tolm

I have heard a couple of whispers that the RBS somewhere down the line will be backing NESV, that could answer why they appear sooo keen on the John Henry bid??

I don't know on that score, mate.

What is now apparent, RBS have an unsual degree of favouritism towards NESV, to the exclusion of all others.

Now last time I looked, banks were all about the bottom line.

This isn't about being a responsible lender or custodian.

Jesus, RBS have hit Liverpool for the best part of £60m in interest and penalty charges, since H&G arrived.

Something does not sit right and at very least, Hicks and Mill will have their day in court.

This will become as protracted as it gets, which will do nothing to stabilise a perceived rival.

All good IMO!

 

[Prestwich_Blue]

You're not entirely wrong. If it was Joe Bloggs Ltd, RBS would probably have put the boot in long ago. Because this is a high-profile case and it could do substantial damage to their image, then it would seem they have been more cautious in their approach. Plus it's an asset they know can be sold for enough to cover their debt so they would be silly to prejudice that, whereas acting precipitously might.

I used to know the guy who managed these things for a large financial services company I worked for and he told me that you had judge each case on its merits and sometimes letting things run was better than diving in and risk losing out.

Basically like i said yesterday, if this was pompey the sword would have fallen without doubt.

Pompey also got away with a lot befire the axe finally fell.

 

[The Fixer]

EDIT: According to The Guardian, H+G have lifted their TRO from the Texan courts which also prohibits them from selling the club as well as Broughton in order to do a deal with Mill who they have been talking to for 48 hours. More twists and turns!

So now nothing to stop mill re-paying RBS???

 

[Chippy_boy]

Basically like i said yesterday, if this was pompey the sword would have fallen without doubt.

Pompey also got away with a lot befire the axe finally fell.

Indeed. And no-one really gave a toss about Pompey. Liverpool is a worldwide brand. Putting them into administration when RBS' money is not actually at risk would be a really daft thing to do.

 

[Prestwich_Blue]

EDIT: According to The Guardian, H+G have lifted their TRO from the Texan courts which also prohibits them from selling the club as well as Broughton in order to do a deal with Mill who they have been talking to for 48 hours. More twists and turns!

So now nothing to stop mill re-paying RBS???

That would appear to be the case as the TRO effectively prohibited Hicks from selling his shares to Mill (as they were a related entity through their control of Gillett's shares).

Liverpool could still effectively be under the control of Hicks & Gillett tonight and for the foreseeable future, having paid off the debt to RBS. That would be piss funny.

 

[The Fixer]

EDIT: According to The Guardian, H+G have lifted their TRO from the Texan courts which also prohibits them from selling the club as well as Broughton in order to do a deal with Mill who they have been talking to for 48 hours. More twists and turns!

So now nothing to stop mill re-paying RBS???

That would appear to be the case as the TRO effectively prohibited Hicks from selling his shares to Mill (as they were a related entity through their control of Gillett's shares).

Liverpool could still effectively be under the control of Hicks & Gillett tonight and for the foreseeable future, having paid off the debt to RBS. That would be piss funny.

Like you say mate, they either lifted it due to not being able to sell shares to mill or due to them being slammed in clink if ever they return to the uk.

The RBS was advised on legal grounds to reject the repayment from mill you would hazard a guess that was due to the TRO. So if Hicks sells to Mill what other grounds would RBS have to reject mill now?

 

[tolmie's hairdoo]

EDIT: According to The Guardian, H+G have lifted their TRO from the Texan courts which also prohibits them from selling the club as well as Broughton in order to do a deal with Mill who they have been talking to for 48 hours. More twists and turns!

So now nothing to stop mill re-paying RBS???

It is a double edged sword for Hicks and Mill, but the TRO did help in terms of delay and raising the legal doubts and own funding.

However, they were also aware the TRO lift would grant the small window Broughton and RBS were hoping for.

They will now try to get it done and separate Liverpool FC from the legal ramifications that would follow.

Crazy. RBS have backed themselves into a corner. They have substantial US interests and the courts over there will serve it cold.

This is all about RBS image in the UK. They could have called the loan in twice before at refinance stage, but couldn't move the loan on.

That should tell you all you need to know.

Hicks and Gillett used that predicament to their advantage and RBS are now intent on payback.<br /><br />-- Fri Oct 15, 2010 9:41 am --<br /><br />

EDIT: According to The Guardian, H+G have lifted their TRO from the Texan courts which also prohibits them from selling the club as well as Broughton in order to do a deal with Mill who they have been talking to for 48 hours. More twists and turns!

So now nothing to stop mill re-paying RBS???

That would appear to be the case as the TRO effectively prohibited Hicks from selling his shares to Mill (as they were a related entity through their control of Gillett's shares).

Liverpool could still effectively be under the control of Hicks & Gillett tonight and for the foreseeable future, having paid off the debt to RBS. That would be piss funny.

That would be exactly as it was called here by a few yesterday, too.

 

[The Fixer]

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