Liverpool FC Forum

by **Dundalk** » Mon Oct 11, 2010 2:30 pm

D-DAY

by **Igor Zidane** » Mon Oct 11, 2010 2:34 pm

dawson99 wrote:
stmichael wrote:
Ciggy wrote:The 7/7 terrorist attacks inquest is tommorrow at the same court bare this in mind people.

that puts everything into perspective really.

7/7 was years ago, they can wait another day, we might be in administration!!!

Kinell daws lad . Have a heart will yer .

by **laza** » Mon Oct 11, 2010 2:36 pm

Ciggy wrote:The 7/7 terrorist attacks inquest is tommorrow at the same court bare this in mind people.

Im smelling conspiracy theory already

by **dawson99** » Mon Oct 11, 2010 2:39 pm

Igor Zidane wrote:
dawson99 wrote:
stmichael wrote:
Ciggy wrote:The 7/7 terrorist attacks inquest is tommorrow at the same court bare this in mind people.

that puts everything into perspective really.

7/7 was years ago, they can wait another day, we might be in administration!!!

Kinell daws lad . Have a heart will yer .

whats more important in the short term?

(I remember 7/7, absolutely sh!t meself ringing family and friends who work in City Centre, shouldn't joke)

by **Igor Zidane** » Mon Oct 11, 2010 2:44 pm

The bank own us already , so H+G are f.ucked tomorrow. We are already in defualt according to bloomberg .

Liverpool Said to Be in Default, Bankruptcy Possible

Liverpool’s holding company is in default over 280 million pounds ($446 million) owed to Royal Bank of Scotland Group Plc and Wells Fargo & Co., and the banks may put the soccer club into bankruptcy protection, three people familiar with the situation said today.

While U.K. newspapers including the Daily Telegraph have reported that co-owners Tom Hicks and George Gillett’s debt matures on Oct. 15, the loan is already in default, say the people, who declined to be identified because of pending lawsuits. The U.S. pair is trying to block a sale to New England Sports Ventures LLC because they say the price is too low. A court action begins tomorrow.

Although the banks prefer not to put the team into administration, a form of bankruptcy, they may if the NESV transaction is challenged in court or indefinitely delayed, the people said. Liverpool Chairman Martin Broughton, who approved the sale, said the owners may lose about 140 million pounds if the deal goes through.

Administration would bring a nine-point penalty from the Premier League. Liverpool is in 18th place in the 20-team league, and would be relegated to the second-tier Championship if the season ended now. That would cost millions, and the team is already struggling with the loss of income from the Champions League, which can bring in as much as 30 million pounds.

Deal’s Validity

NESV, which is controlled by Boston Red Sox owners John W. Henry and Tom Werner, has made a 300 million-pound bid for the 18-time English champion. Liverpool’s board, which has approved the sale, is seeking court confirmation of the deal’s validity.

Kop Football (Holdings) Ltd. must repay a 237 million-pound loan, and costs associated with an April 30 refinancing that has seen the debt balloon by 40 million pounds.

Nicola Howson, a U.K.-based spokeswoman for Gillett and Hicks, didn’t respond to a voicemail seeking comment. RBS, NESV and Liverpool declined to comment.

Liverpool’s board last week agreed to sell to NESV over the objections of Hicks and Gillett. The bidder will walk away from the deal if the team enters administration and is docked nine points, one of the people said.

Gillett and Hicks say the sale isn’t legal because they fired two of the board members that approved it. Broughton says the deal is valid because only he has the power to change the structure of the board.

RBS, which required the changes to the board as part of its latest refinancing agreement, is the applicant in a suit listed against Hicks and others at the High Court in London.

“In a situation of Liverpool’s, where we are in default, then your primary obligation is to the creditor not the shareholder,” Broughton said in an interview last week. “That was our primary obligation.”

http://www.bloomberg.com/news....le.html

by **inglis5** » Mon Oct 11, 2010 3:01 pm

I think the fact that the hearing is "RBS v Hicks" pretty much confirms what we already knew, Broughton is working for RBS. His primary motivation was to ensure that he got their money back. We should just be thankful that he also 'appears' to have had the best interests of LFC as a secondary concern. The above also makes it a far stronger case in my opinion, this isn't just the club saying we want to be sold, this is the 'primary creditor' saying "I want my money back now, there is an offer on the table that will do that, accept it NOW". I'm cautiously optimistic *touches wood and crosses himself*

by **jacdaniel** » Mon Oct 11, 2010 3:07 pm

bensmith_times Ben Smith
RBS are going to release a statement on #lfc case very shortly

by **Ciggy** » Mon Oct 11, 2010 3:14 pm

jacdaniel wrote:bensmith_times Ben Smith
RBS are going to release a statement on #lfc case very shortly

Oh fuck this is not good guys not good at all.

There will be lawsuits all over the shop if we are not docked 9 points.

by **Thommo's perm** » Mon Oct 11, 2010 3:16 pm

Its like lancing a boil.
Pus everywhere...

by **Anfield rapper** » Mon Oct 11, 2010 3:24 pm

That bloomberg article says it all really. G&H don't have a leg to stand on. I didn't realise Broughton was brought in as part of the refinansing deal. That means G&H are screwed because they have obvously agreed to have him brought in. He is the only one who can change the board so the sale to NESV was valid. That means that RBS get they're money LFC avoid administration and G&H are screwed (the way it should be).

by **zarababe** » Mon Oct 11, 2010 3:29 pm

The most balanced article I have red on this explaining why we would avoid admin:

http://www.liverpoolecho.co.uk/liverpo....7434730

I think the fact that the case is RBS verses Hicks, says it all, that is why Borughton and Purslow are pursuing this. WE WILL WIN - I BELIVE AND |SO SHOUL ALL OF YOU !

THE END OF THE H&G REIGN IN NIGH !

by **zarababe** » Mon Oct 11, 2010 3:38 pm

Ciggy wrote:
jacdaniel wrote:bensmith_times Ben Smith
RBS are going to release a statement on #lfc case very shortly

Oh fuck this is not good guys not good at all.

There will be lawsuits all over the shop if we are not docked 9 points.

It won't come to that doll.. anno we are all cacking it at the moment, but RBS are looking to sell and get there money and won't jeopordise that - prayers and belief come on reds

:nod

by **Kukilon** » Mon Oct 11, 2010 3:40 pm

I have put two bottles of quite fine champagne in the cooler. They will be used in this order.

1. When we finally are rid of Twitt and Twatt

2. When it's confirmed that these :censored:

actually didn't make a profit on us. That includes everything they have taken out of the club during their regime.

by **Dundalk** » Mon Oct 11, 2010 3:42 pm

Richard Buxton

RBS vs Hicks transferred to Courtroom no.16 tomorrow & open to general public (via @Heighway0)

by **zarababe** » Mon Oct 11, 2010 3:51 pm

Dundalk wrote:Richard Buxton

RBS vs Hicks transferred to Courtroom no.16 tomorrow & open to general public (via @Heighway0)

Yes

... such a high profile case.. will be swarming !

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