Saga Continues:
Quote:
Royal Bank of Scotland has secured an injunction preventing Tom Hicks and George Gillett from removing independent chairman Martin Broughton or any other Liverpool board members ahead of Tuesday's court case.
RBS said in a statement: "RBS in its capacity as lender to the Kop group of companies received the benefit of various contractual undertakings from Mr. Hicks and Mr. Gillett in relation to the corporate governance arrangements that Mr. Hicks and Mr. Gillett agreed would apply to the Kop group of companies with effect from April 2010.
"Those undertakings provided for the appointment of Mr Broughton as chairman of the board and the appointment of the chief executive and commercial director of LFC to the Kop boards.
"As is well known, Mr. Hicks and Mr. Gillett purported to make changes to those corporate governance arrangements on 4 October. This was in breach of those contractual undertakings.
"In light of that purported breach of contract RBS sought and obtained on Friday 8 October 2010 an interim injunction against Mr. Hicks and Mr. Gillett until a further hearing scheduled for tomorrow [Tuesday].
"Among other things, that interim injunction prevents Mr. Hicks or Mr. Gillett taking any steps to remove or replace Mr. Broughton from his position as chairman of the board of the Kop companies or from taking any other steps to appoint or remove any directors from the board of the Kop companies.
|
http://soccernet.espn.go.com/news/st...ngland&cc=5901
To hell with both of you.
Quote:
Liverpool's High Court showdown with Tom Hicks and George Gillett begins on Tuesday and the American duo might find it an uncomfortable ride with questions about how they ran their financial affairs.
ESPNsoccernet can reveal that prospective new owners New England Sports Ventures (NESV) are unhappy about some issues following their financial inspection of the club's books.
The owners of Boston Red Sox are not directly involved in the litigation, which centres around the legality of the board to sell the club without the co-owners' consent, and are naturally guarded about precisely what cropped up in due diligence that raised eyebrows.
When Hicks and Gillett attempted their own refinancing deal in the summer - which would have mortgaged the players, stadium and training ground against the extra borrowing - Broughton's board vetoed it 3-2, and lawyers Slaughter and May ratified their power to do so.
The new owners will save £24 million when Liverpool oust Hicks and Gillett as they will not need to continue servicing the debt repayments.
|
http://soccernet.espn.go.com/news/st...ngland&cc=5901
Just more evidence that these two are Clownshoes.
Still think they're saints Harry?
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
The World Ends when you're dead. Until then, you've got more punishment in store. - Flames Fans
If you thought this season would have a happy ending, you haven't been paying attention.
|