Liverpool FC Forum

[Redman in wales]

H&G: accept sale inevitable but say board didn't consider alternatives to NESV

[Ciggy]

The defence is now on:

Girolami QC for H&G: RBS have presented "seriously misleading picture of true issues"

No they seriously mislead every Liverpool fan with their lies and broken promises and 380 million pound debt they piled on to us.

[Redman in wales]

Guardian update:

"Representative for Hicks and Gillett claims case against them paints 'misleading picture of the issues'. This case is not about, he says, the owners trying to maintain their ownership of the club. They accept reality that their ownership will shortly come to an end. It's also not about owners trying to put spanner in the works regarding a sale. The owners accept that some sort of sale will have to occur. They are not intent on stopping sale to NESV. The owners' issue is that the board did not properly enter into the NESV agreement in that the directors did not properly consider alternative offers and so it is they who are in breach of the terms of the sale agreement with RBS."

[maypaxvobiscum]

even if alternative offers were considered, they both were reportedly around the same region in terms of price so what difference would it make?

[Thewaykokid]

seems to me the crux of the case is going to be based on what is accepted as "properly considered"

[Redman in wales]

Courtroom update:

H&G: Bid by 'Meriton' (Lim) is still on table and better than nesv, as is an offer from Mill Financial!

[Ciggy]

Courtroom update:

H&G: Bid by 'Meriton' (Lim) is still on table and better than nesv, as is an offer from Mill Financial!

FYL Mill & Lim

[tubby]

12.42pm: The secondary offer that H&G's representatives refer to is from Mill Financial. The offer includes repaying all debts and putting £100m towards the new stadium. Mill Financial took over some of Gillett's stake. Mill Financial were meant to meet Broughton last Thursday to discuss a possible takeover but it was cancelled. Hicks and Gillett's representative wants to know why this meeting was cancelled. Mill Financial remain interested in buying Liverpool.

[Thewaykokid]

ffs the Lim bid shouldn't matter as the NESV bid was accepted BEFORE the offer was made.....this fukn singaporean Kuntface has evrything

[Redman in wales]

seems to me the crux of the case is going to be based on what is accepted as "properly considered"

it appears that way.  Looks like H & G are going for the  "board accepted the first offer without due care or attention"  blah blah blah.

Only thing is I can kinda see the point where-as if you have two offers of the same amount for a club, and the one is rejected over the other, you sign contracts with one, but the other didn't have a chance to increase the bid.


Important:


The reason why Lim didn't make the improved offer last week is that there was no point until this case was heard in court. 


WHen the board accepted the offer and signed with NESV it was either a done deal, or it was going to court. Either way Lim doesn't get anything out of it until now.


Today is the best day to put in an improved offer if you are Lim, because Lim actually stands a better chance of owning the club if RBS/Broughton lose this case today

[Thewaykokid]

greeedy H & G gtfo of our club can't even walk out without an extra 20 mil fukn cheap kunts

[GRAHAM01]

come on judge you know what you have to do just do it already

[Roger Red Hat]

If LIM or anyone get our club we're no better off. we'll be fuk'd in the long run. We need a group like NESV behind us cos they'll move the club forward with the people in mind. They seem to care. Lim piping up with £100 million towards the new stadium - shove it up ya ar$e pal, we would rather redevelope Anfield anyway.

[Redman in wales]

If LIM or anyone get our club we're no better off. we'll be fuk'd in the long run. We need a group like NESV behind us cos they'll move the club forward with the people in mind. They seem to care. Lim piping up with £100 million towards the new stadium - shove it up ya ar$e pal, we would rather redevelope Anfield anyway.

Lim and Mill are different bids.  There are 3 bids in total.

Lim is the guy from Singapore, Mill are the financers that took over Gillets  part of the loan when he defaulted.

It's Mill that are promising £100 for the stadium not Lim.

[Redman in wales]

12.36pm: Our reporter, Sachin Nakrani, who is stepping outside of court to file updates: H&G's representatives say: "English directors have rushed forward a sale when alternative offers are in existence. Mentions Meriton. Says they were preferred bidders on morning of 5 October. But by the end of the day the board had instead chosen NESV. 'The Meriton offer remains on the table.'"

We will endeavour to find out more about Meriton. This may be another name for the Lim offer.


12.40pm: H&G's represenatitives: "This is not about the owners trying to force Liverpool into administration or another form of insolvency. Claims RBS themselves could force sale through. This dispute then is about maintaining terms of the sale agreement: mainly that all alternative offers are properly considered by the board before an offer is accepted."


12.42pm: The secondary offer that H&G's representatives refer to is from Mill Financial. The offer includes repaying all debts and putting £100m towards the new stadium. Mill Financial took over some of Gillett's stake. Mill Financial were meant to meet Broughton last Thursday to discuss a possible takeover but it was cancelled. Hicks and Gillett's representative wants to know why this meeting was cancelled. Mill Financial remain interested in buying Liverpool.



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12.53pm: A tweet: "Mr Justice Floyd likes to think about his decisions over lunch, so don't expect #LFCTRIAL judgment before 2pm." We shall soon find out...