Liverpool sale blocked as Tom Hicks and Gillett acquire a restraining order from a Texas Court
The Texas Court has awarded a provisional order to discontinue the sale of the Liverpool Football Club for some time. According to some recent news reports, the current American owners of the Liverpool football club Tom Hicks and
George Gillett have argued that they have been given permission by the Texas Court to discontinue the auction of the club for some time.
This new issue appeared hours after the American duo lost their case in the British High Court. Hicks and Gillett issued an announcement as the club’s board met to confirm the sale to NESV (New England Sports Venture).
After that, the Liverpool club issued a statement that the proceedings for the sale will progress smoothly. The statement also said that the board of the executives of Kop Football and Kop Holdings met to resolve the sale issue.
Now the issue of the Liverpool’s sale has become a fuming one. Hicks and Gillett have obtained impermanent restraining orders from Texas region Court against the self-governing directors of the club. According to the independent
directors, the order from the Texas court is not of much importance as it is not valid in UK and they will keep their focus to remove the order as soon as possible.
According to some media critics, the Americans Hicks and Gillett are trying their level best to push the current scenario a bit further. According to the petition, the board will have to take legal advice before making the decisions
regarding the sale of the club.
It is also reported that the American duo have claimed that they seek more than a billion pound in damages. Hicks and Gillett revealed their intentions after getting the sanction from the Texas District Court. According to the
current owners, the order restricts the Liverpool management from selling the club to NESV. They have also announced the hearing date for the case: the 25th of October.
It is also reported that the legal action taken by the Americans was signed by the Judge Jim Jordan of District Court of Dallas. The lawsuit is filed against the boss of the Liverpool FC, Martin Broughton, commercial director Ian
Ayre, managing director Christian Purslow, NESV, Phillip Nash and against the Royal Bank of Scotland (RBS) as well. The lawsuit also asks for temporary and permanent injunctions.
The lawsuit explains that the selling of the club is a conspiracy by the higher executives of the club and the amount offered by the NESV is far less than the current market value of the club.
According to an expert in litigation at a US law firm Baker and Hostetler, the injunction will only allow Hicks and Gillett a temporary hold over the selling case. It is also to be noted that the provisional restraining order is
an emergency measure and it expires in fourteen days.
According to the judge at Texas court, the decision by the British court is respectful and the case filed by Hicks and Gillett will be sorted as soon as possible.
The statement by the Americans also mention that the current management of the club is acting like pawns for the RBS Bank and it is a scheme of their rivals to trade the Liverpool football club to NESV by hook or by crook. The
statement also claims that the club was approached by other interested buyers as well, which were offering better tenders but they were not given much publicity following the bid placed by the NESV.
The Royal Bank of Scotland’s loan provision will end on Friday and the bank has already approached the high court to allow the club’s management to make the deal as soon as possible so that the bank could recover its money.
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