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Hicks and Gillett lose Liverpool court battle

2010-10-13 4 Dailymotion

<p><br /> The High Court has granted injunctions that could open the way for the prompt sale of Liverpool.<br /> </p><p><br /> The club's owners Tom Hicks and George Gillett asked a judge to delay the hearing of an application by creditors Royal Bank of Scotland (RBS) for mandatory orders paving the way for a possible sale this week.<br /> </p><p><br /> But the plea was rejected by Mr Justice Floyd, sitting at the High Court in London.<br /> </p><p><br /> The owners were also refused permission to appeal.<br /> </p><p><br /> "I am not prepared to grant any relief. If I did it would risk stopping the sale and purchase agreement going ahead."<br /> </p><p><br /> He said this would result in potential serious damage to the club and RBS.<br /> </p><p><br /> At RBS's request, the judge imposed injunctions on the two men requiring them to restore the original constitutions of the companies and managing directors.<br /> </p><p><br /> This appears to remove the final stumbling block to a £300 million takeover by New England Sports Ventures (NESV), which will see the RBS recoup its original £237 million loan to Mr Hicks and Mr Gillett when they bought the club in March 2007.<br /> </p><p><br /> However with Singapore businessman Peter Lim's improved offer also on the table a reconstituted Liverpool board will now meet on Wednesday evening to discuss the next steps in the sale.<br /> </p>

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