manc-mag 1 Posted October 14, 2010 Share Posted October 14, 2010 Who the fuck was that cockend fans representative down there on the radio news, saying that government should be getting involved to resolve the scandal? As if that's what they were elected for and they've got fuck all better to do. Link to comment Share on other sites More sharing options...
toughguymick@hotmail.co.uk 0 Posted October 14, 2010 Share Posted October 14, 2010 Why the fuck geordies so intrested in Liverpool? Haven't you's got your own problems with lack of funds? Heres the lastest from Liverpool Echo anyway: THE Liverpool FC ownership war took yet another dramatic twist today with reports hedge fund Mill Financial has effectively taken over the club. It is being claimed the US-based investment company acquired all of Tom Hicks' shares. It already owned George Gillett’s shares after the American defaulted on a loan. The latest shocking development came as the sale was briefly heard in the High Court again this morning, at 10.30am. It is due back before Mr Justice Floyd at 2pm. And according to reports if they repay all outstanding loans to Royal Band of Scotland before the set deadline they will by default become the new owners of LFC – nudging out Boston-based New England Sports Ventures. But this morning RBS was understood to have no knowledge of the reported Mill Financial deal but would be expected to be informed of such a takeover as the principal creditor. The ECHO believes today’s dramatic move would not see Hicks and Gillett return to ascendancy in the battle for the Reds. Instead it is believed Mill Financial, owned by Springfield Financial who have links with the Washington Redskins American Football team, may be acting on behalf of another, as yet unnamed and unknown group, now in a position to move in at the 11th hour and take over the club. Inevitably will lead to speculation Chinese businessman Kenny Huang could be behind today's dramatic developments, though that is by no means clear. Critical meetings to discuss today's development are now being held in London involving Liverpool's English directors – chairman Martin Broughton, Managing Director Christian Purslow and Commercial Director Ian Ayre. No one from the club was prepared to comment on the so far unconfirmed reports. The latest development comes after an astonishing day of highs and lows yesterday. The English board’s resounding High Court victory was followed a legal blow by the American co-owners. They obtained a restraining order in Texas last night which was due to be challenged by LFC in the next 24 hours. Lawyers for the Reds were locked in complex discussions until 3am today deciding how to deal with injunction. Liverpool FC had appeared confident they would overcome a lawsuit seeking $1.6b damages from the English directors at Anfield – along with lenders Royal Bank of Scotland and successful Liverpool bidders New England Sports Ventures (NESV) – claiming they were undervaluing the price of the club and disregarding other, allegedly higher, offers. Link to comment Share on other sites More sharing options...
SloopJohn 0 Posted October 14, 2010 Share Posted October 14, 2010 BRING ON FRIDAY Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted October 14, 2010 Share Posted October 14, 2010 Why the fuck geordies so intrested in Liverpool? Haven't you's got your own problems with lack of funds? Heres the lastest from Liverpool Echo anyway: THE Liverpool FC ownership war took yet another dramatic twist today with reports hedge fund Mill Financial has effectively taken over the club. Link to comment Share on other sites More sharing options...
toughguymick@hotmail.co.uk 0 Posted October 14, 2010 Share Posted October 14, 2010 Why the fuck geordies so intrested in Liverpool? Haven't you's got your own problems with lack of funds? Heres the lastest from Liverpool Echo anyway: THE Liverpool FC ownership war took yet another dramatic twist today with reports hedge fund Mill Financial has effectively taken over the club. Who the fuck are Mill Financial? I know their a hedge fund but I've never heard of them. Some people saying China behind this. I hope so China the new superpower England and USA owe them shit loads of cash. Link to comment Share on other sites More sharing options...
sammynb 3355 Posted October 14, 2010 Share Posted October 14, 2010 Who the fuck are Mill Financial? You just know it's something dodgy involving H&G. Link to comment Share on other sites More sharing options...
manc-mag 1 Posted October 14, 2010 Share Posted October 14, 2010 The notion that Liverpool are worth c £1 billion (or whatever) in the current climate when there's no credit knocking about anymore for leveraged mongs like G&H to drive up absurd valuations is laughable tbh. They're worth whatever the few people who have liquid funds and are interested in acquiring an ailing club are prepared to pay. And that's a long way short of £1,000,000,000. Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted October 14, 2010 Share Posted October 14, 2010 Why the fuck geordies so intrested in Liverpool? Haven't you's got your own problems with lack of funds? Heres the lastest from Liverpool Echo anyway: THE Liverpool FC ownership war took yet another dramatic twist today with reports hedge fund Mill Financial has effectively taken over the club. Who the fuck are Mill Financial? I know their a hedge fund but I've never heard of them. Some people saying China behind this. I hope so China the new superpower England and USA owe them shit loads of cash. anyone but H&G eh ? fucking hilarious. Link to comment Share on other sites More sharing options...
Guest alex Posted October 14, 2010 Share Posted October 14, 2010 Every time this kid comes on here to gloat it seems to backfire. Long may it continue. What a Jonah Link to comment Share on other sites More sharing options...
toughguymick@hotmail.co.uk 0 Posted October 14, 2010 Share Posted October 14, 2010 Heres the lastest from Liverpool Echo: LIVERPOOL co-owner Tom Hicks has not sold his shares to Mill Financial, the American's spokesman confirmed to the ECHO this morning. Despite reports to the contrary, the Texan remains in control of his 50% stake in the club as the future of the Reds remained mired in confusion. It was suggested Mill Financial, an arm of US hedge fund Springfield Financial Company, based in Virginia, had done a deal with Mr Hicks to buy his shares at Anfield. But in the last 15 minutes, a spokesman informed the ECHO there was no truth to those reports. He would not expand further on Mr Hicks' or Mill Financial's position. The Virginia company already have an interest in Liverpool after co-owner George Gillett defaulted on his £75m loan with the same company two months ago. It comes as the continuing saga of the ownership of the Reds was heard before the High Court this morning. The English-based Anfield directors, along with the Royal Bank of Scotland and prospective buyers of the club New England Sports Ventures, were hit by a massive $1.6b law suit by Tom Hicks and George Gillett late last night. The sale, agreed with the Boston consortium last night, was put on hold pending legal clarification of the temporary restraining roder. This morning, the Judiciary confirmed to the ECHO the club's challenge against that court order, made in Texas, was heard briefly at the Royal Courts of Justice. A further hearing will take place from 2pm today when Mr Justice Floyd will hear the application to overturn the lawsuit in full. Read More http://www.liverpoolecho.co.uk/liverpool-n.../#ixzz12KyQYol2 Link to comment Share on other sites More sharing options...
LeazesMag 0 Posted October 14, 2010 Share Posted October 14, 2010 we don't fucking care son. Apart from having a good laugh. Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 QC Snowden speaking for RBS: "Texas court appearts to have been told remarkably little about yesterday's verdict. This is the most outrageous abuse of process." Link to comment Share on other sites More sharing options...
Tom 14011 Posted October 14, 2010 Share Posted October 14, 2010 Money can't buy you love. Link to comment Share on other sites More sharing options...
FCUM 1 Posted October 14, 2010 Share Posted October 14, 2010 Sounds to me like Hicks is getting his ducks in a row to fuck over the other directors. If he loses the case for this injunction granted in Texas then he simply sells to Mill Financial who repay RBS before Friday, take over the club and get rid of the other 3. Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 Sounds to me like Hicks is getting his ducks in a row to fuck over the other directors. If he loses the case for this injunction granted in Texas then he simply sells to Mill Financial who repay RBS before Friday, take over the club and get rid of the other 3. The Fit and Proper Person test: Owen Gibson analyses the current situation: In the wake of the meltdown at Portsmouth and the travails of Liverpool, the Premier League introduced new rules on ownership. Last June, a new fit and proper persons test required anyone with a shareholding of more than 30% to show they had no unspent criminal convictions for a string of "honesty" offences. Anyone with a stake of more than 10% must be declared publicly and ultimate ownership revealed. This summer, it introduced three other new rules as below: 1. Means and abilities test A prospective new owner must provide future financial information to show the projected financial position of the club should a takeover go through. A prospective new owner must also show proof of funds to prove they can sustain the club for the year ahead. 2. Meeting new owners The Premier League Board will have the power to request a meeting with any person proposing to acquire control of a club. 3. HMRC reporting The Premier League Board can request quarterly information from each club showing that they are up-to-date with payments to HMRC in respect of PAYE and National Insurance As far as Liverpool goes, the Premier League are understood to be "two thirds" of the way to passing NESV. They have met the new owners, who have passed the directors test. They have yet to formally approve the so-called "means and abilities" test that involves providing proof of funds and forward looking financial information for the coming year but do not believe it will pose a problem. They have received no approach from Mill Financial and will not begin any other checks until the mists have cleared. Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 QC Snowden speaking for RBS: "Proceedings in Texas are inappropriate. It involves an English football club and three English companies. It is intended to frustrate. Judge made verdict in Texas on basis of no evidence and solely on what was told to him." It is claimed that H&G tried at the Dallas injunction appeal to make sure that it could be contested in the High Court in London. But the Texas judge did not agree to that. Link to comment Share on other sites More sharing options...
toughguymick@hotmail.co.uk 0 Posted October 14, 2010 Share Posted October 14, 2010 we don't fucking care son. Apart from having a good laugh. Why you on this thread then you piece of shit? You having a good laugh at Liverpool getting sold and clearing it's debts? You must love Liverpool hey mate? How the fuck can Newcastle laugh at anyone anyway, when your chairman is a fat twat who's got no funds. The little funds you did have you speant them on a player that broke his leg. You can't laugh at anyone your club's a fucking joke right now a bit like Cheryl Cole and Gazza. Link to comment Share on other sites More sharing options...
Tom 14011 Posted October 14, 2010 Share Posted October 14, 2010 So long as John Bishop isn't telling the joke I don't mind. Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 your club's a fucking joke right now a bit like Cheryl Cole Take you pick lads.. Link to comment Share on other sites More sharing options...
FCUM 1 Posted October 14, 2010 Share Posted October 14, 2010 Sounds to me like Hicks is getting his ducks in a row to fuck over the other directors. If he loses the case for this injunction granted in Texas then he simply sells to Mill Financial who repay RBS before Friday, take over the club and get rid of the other 3. The Fit and Proper Person test: Owen Gibson analyses the current situation: In the wake of the meltdown at Portsmouth and the travails of Liverpool, the Premier League introduced new rules on ownership. Last June, a new fit and proper persons test required anyone with a shareholding of more than 30% to show they had no unspent criminal convictions for a string of "honesty" offences. Anyone with a stake of more than 10% must be declared publicly and ultimate ownership revealed. This summer, it introduced three other new rules as below: 1. Means and abilities test A prospective new owner must provide future financial information to show the projected financial position of the club should a takeover go through. A prospective new owner must also show proof of funds to prove they can sustain the club for the year ahead. 2. Meeting new owners The Premier League Board will have the power to request a meeting with any person proposing to acquire control of a club. 3. HMRC reporting The Premier League Board can request quarterly information from each club showing that they are up-to-date with payments to HMRC in respect of PAYE and National Insurance As far as Liverpool goes, the Premier League are understood to be "two thirds" of the way to passing NESV. They have met the new owners, who have passed the directors test. They have yet to formally approve the so-called "means and abilities" test that involves providing proof of funds and forward looking financial information for the coming year but do not believe it will pose a problem. They have received no approach from Mill Financial and will not begin any other checks until the mists have cleared. That sounds like it could lead to even more fun & games down the line. Shirley the premier league can't stop anybody buying a club, all they could do would be to withdraw their rights to participate in the premier league Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 Legal opinion from Quentin Bargate, Senior Partner of the City of London law firm Bargate Murray: What struck me as most unusual was that the proceedings already taking place before the High Court in London merit only a passing reference in paragraph 53 of the petition...More surprisingly, I can find no reference in the Temporary Restraining Order made by the court in Dallas to the "British Court" decision at all. The court asserts it has jurisdiction without, it would seem, considering the possible impact of its order upon the already extant proceedings in London and whether the Dallas court should accordingly decline jurisdiction in favour of the High Court proceedings – where Mr Hicks and Mr Gillett may well have raised similar points already. In short, it would appear that Mr Hicks and Mr Gillett's legal team decided against the option of seeking permission to appeal from the Court of Appeal, or decided that process would not yield a result in time and instead have attempted to take a second bite at the cherry in a different jurisdiction. Clearly, the Dallas court agrees that they were entitled to do so, at least for the time being. So in essence, we have two diametrically opposing decisions of superior courts in England and the US based on essentially the same subject matter. It will be interesting to see what the High Court in London makes of all this... Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 Sky Sports are reckoning Peter Lim has withdrawn his offer. Link to comment Share on other sites More sharing options...
Tom 14011 Posted October 14, 2010 Share Posted October 14, 2010 Link to comment Share on other sites More sharing options...
Guest Tuco Ramirez Posted October 14, 2010 Share Posted October 14, 2010 (edited) Who the fuck was that cockend fans representative down there on the radio news, saying that government should be getting involved to resolve the scandal? As if that's what they were elected for and they've got fuck all better to do. Yeah fuck the economy, the war in Afghanistan, fuck environmental challenges why isn't Cameron devoting all of his facilities in to supporting a little football club in the countriest most aesthetically challenged area, to keep a few dwarf like rodents, and resident of Norway happy? Breathtaking arrogance - copyright Kevin Miles 1998 Edited October 14, 2010 by Tuco Ramirez Link to comment Share on other sites More sharing options...
shackbleep 0 Posted October 14, 2010 Share Posted October 14, 2010 You couldn't make this shit up... "Court proceedings interrupted: it seems H&G are currently in court in Dallas arguing Lfc board were in contempt of US court y'day!" Link to comment Share on other sites More sharing options...
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