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 How can my beloved go into administration

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ruebenlim
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PostSubject: Re: How can my beloved go into administration   Tue Oct 12, 2010 1:07 pm

Actually, what Hicks & Gillet did was to buy Liverpool on leverage, similar to the housing bubble which brought about the financial crisis. Meaning, they borrowed money from RBS to fund the purchase and buy out the Moores family, ex-owners of LFC.

Comparing to Chelsea & Man City, their owners bought the clubs with their own money without loans, hence they would not need to service interest payments. So if Hicks & Gillet are unable to service the interest payments, RBS has the right to foreclose the loan and repossess LFC as an asset. Similar to how a bank would re-possess your car if you are unable to repay the loan + interest.

Ultimately, Hicks & Gillet just didnt have deep enough pockets to fund the likes of Gerrard & Torres. Its a sad day for Reds fans if our beloved club is put into administration and docked 9 points which would see us fighting relegation this season!
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Khorkar
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PostSubject: Re: How can my beloved go into administration   Tue Oct 12, 2010 2:46 pm

As much I love this club, it would be good to see it goes to adminstration and let the bank choose the next buyer.

Curse the 2 jokers.
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asahi
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PostSubject: Re: How can my beloved go into administration   Wed Oct 13, 2010 9:11 pm

Yes lah.......The Americans are defeated.........Court rules in favour of RBS which in turn means new owners!


Woo-hoo!

Wish Peter Lim can win but seems to go NESV way.
But still better than the Gillet and Co.
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trebloc
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 12:40 am

at least NESV talked the talk and walked the walk when they turned around the red sox organization.

not a Liverpool fan but it was a waste seeing a storied club languish under gillett and hicks
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pocketace
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 1:35 pm


http://news.bbc.co.uk/sport2/hi/football/teams/l/liverpool/9080946.stm
latest twist....Liverpool sale 'blocked by injunction

"Having gained the injunction from the Dallas court, Hicks and Gillett described the proposed £300m sale as "an epic swindle" and revealed they are seeking more than £1bn in damages."

sigh... these Yanks.... look at the obscene amount of damages that they are gunning for.... it is just a litigious culture that they are used to....

makes me sick....
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Khorkar
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 1:57 pm

KNS... dont they know that they are not wanted there.. for goodness sake, take the $ and get out. curse these 2 buggers.


Last edited by Khorkar on Thu Oct 14, 2010 2:08 pm; edited 1 time in total
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trebloc
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 2:03 pm

ridiculous how the Americans seem to spin that everyone was conspiring against them. RBS, being chief ah-long in this whole situation, is only taking matters into their own hands to recoup $$.... given the state of the club.
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Duval_S
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 2:54 pm

NB......cant believe these 2 jokers.........

which is why I believe one has to be passionate about sports......American (of the jokers generation) and soccer just cannot jive lah...surely the original purchase must be suspective.

Which is why for golf, I am passionate......to continue to rely on my golfing readiness strategy
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mUAr_cHEe
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 3:15 pm

Duval_S wrote:
....to continue to rely on my golfing readiness strategy

what is that? less practice to save supply of good shots?
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Duval_S
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 3:31 pm

Quote :
Quote :
mUAr_cHEe wrote:
Duval_S wrote:
....to continue to rely on my golfing readiness strategy

what is that? less practice to save supply of good shots?


Dear #5,

no lah.....it is about utilization and rationalization of good shots........practise will give high risk of inappropriate and unrationale utilization of good shots.

fm my observation, it is pretty evident....why do you think in the pro tour, the leader in the first round , typically don win the tourney?

Disclaimer: The above is not meant to advocate...and pls do not try it with your game if you are not ready to experience an unknown consequence.
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Khorkar
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 5:42 pm

Question, does the US injunction have any validity for a business trade happening in UK? This is the fact that the high court in UK rejected the 2 jokers?

Which country's law is in play? You can't have both. What happen if the end of the day where British High Court rules, the sale can proceed and the American Court reverted with the sale cannot proceed? Assuming if by 15th, RBS take full ownership, what is their rights?

???????


Last edited by Khorkar on Thu Oct 14, 2010 6:29 pm; edited 1 time in total
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asahi
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 6:15 pm

Methinks asset (LFC) is in England, so US's court ruling will not have effect in England.
In short, Hicks & Gillet can go fly kites!
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pocketace
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PostSubject: Re: How can my beloved go into administration   Thu Oct 14, 2010 6:23 pm

I love USA, don't get me wrong, great cities, great friends, great theme parks... but the way they act at times thinking that they own the world is a bit....

anyway, here is a State court (Texas) trying to overule the decision of another Country's court?!?!?!? how is that possible is beyond my comprehension. Anyway, even if it is coming from their Federal Court, the fact is they do not have jurisdiction over the UK. period

The precautions that RBS is taking (and also NESV) is because both have biz presence in the US. They want to do thru the due process and instead of blatantly ignoring the injunction for fear that it may come back and haunt them in their other biz dealings in the US in future

be afraid people, be very afraid.


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nientsu
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PostSubject: Re: How can my beloved go into administration   Fri Oct 15, 2010 11:47 pm

New England Sports Venture (NESV) have completed their takeover of Liverpool football club.

Liverpool's Commercial Director Ian Ayre confirmed the deal at 3.55pm this afternoon, meaning John W Henry replaces Tom Hicks and George Gillett as the owner of England's most successful football club.

However remaining in the background, something like a grey cloud, are the former owners threatening a $1.6bn lawsuit for "damages".

The American pair say they will "pursue every legal avenue" as they look to claim damages for what they believe is an "extraordinary swindle".

From Goal.com.......
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Khorkar
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PostSubject: Re: How can my beloved go into administration   Sat Oct 16, 2010 12:40 am

Good riddance to the 2 old farts.
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asahi
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PostSubject: Re: How can my beloved go into administration   Sat Oct 16, 2010 4:01 am

All right!
The whole ordeal is over, now let's play football.
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riverdeity
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PostSubject: Re: How can my beloved go into administration   Sat Oct 16, 2010 9:32 am

Lets try looking at this from the view of the former owners, i think this is quite unfair to them, imagine being forced to sell your company against your own will. They dug their own grave though, when they set up a board that had the majority vote against them.
Has the takeover been complete? I know that the high court ruled out an appeal but there is still the court of appeal and should that fail, the supreme court . They might even have grounds to try it in the european court of justice. So Liverpool might still be sent into administration.
I believe this whole saga will be a lengthy process which would do the club and the owners(new and old!) no good at all. The lawyers will be laughing its way to the bank.
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riverdeity
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PostSubject: Re: How can my beloved go into administration   Sat Oct 16, 2010 9:35 am

They can explore EU law as it takes precedence over any european country law, that might be their next route
If this sale is upheld, i think the same situation can be applied to my beloved man utd should the glazers miss any loan payments
This would be setting an extremely dangerous case law
pocketace wrote:
I love USA, don't get me wrong, great cities, great friends, great theme parks... but the way they act at times thinking that they own the world is a bit....

anyway, here is a State court (Texas) trying to overule the decision of another Country's court?!?!?!? how is that possible is beyond my comprehension. Anyway, even if it is coming from their Federal Court, the fact is they do not have jurisdiction over the UK. period

The precautions that RBS is taking (and also NESV) is because both have biz presence in the US. They want to do thru the due process and instead of blatantly ignoring the injunction for fear that it may come back and haunt them in their other biz dealings in the US in future

be afraid people, be very afraid.


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slinger
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PostSubject: Re: How can my beloved go into administration   Mon Oct 18, 2010 10:33 pm

jialat liao....

think can kiss this season goodbye....

wait for next season liao
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asahi
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PostSubject: Re: How can my beloved go into administration   Mon Oct 18, 2010 10:38 pm

slinger wrote:
jialat liao....

think can kiss this season goodbye....

wait for next season liao

boss,

that's what we always say leh.

Gotta come up with new line liao.

How bout, "Championship Div, here we come!"

Mad
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slinger
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PostSubject: Re: How can my beloved go into administration   Mon Oct 18, 2010 10:47 pm

actually i was gonna say " u blardee bunch of ku-liang, #$%^%^&&&**& "
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asahi
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PostSubject: Re: How can my beloved go into administration   Tue Oct 19, 2010 5:33 am

Yea boy! If given the chance, I would be sure to give the players less Gerrard some choice hokkien words to wake them up.
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pocketace
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PostSubject: Re: How can my beloved go into administration   Tue Oct 19, 2010 8:52 am

It was painful to watch on Sunday. I switched off after everton scored the first goal. Lfc played really poorly. Only can pass the ball their own half then pump long ball to torres. The players are off colour. The formation has no width. Lucas letvia is in his usual um-sambal Brazilian style. Hodgson should go and take Lucas with him. Jovanovic is good yet leave him on bench again. Sigh, heartache
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Duval_S
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PostSubject: Re: How can my beloved go into administration   Tue Oct 19, 2010 9:09 am

Liverpool should just do what JonL_TK.....' WTS...Lotsa '........sell all those jokers except for JAmie and Stevie.....and get some real english players who are committed ...
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asahi
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PostSubject: Re: How can my beloved go into administration   Tue Oct 19, 2010 9:24 am

Actually should sell Carra also. He has no pace Liao if ever he had in the first place.

Plus, his marking at set pieces had been horrendous for past few games. Even Kriagakos also marking better than him.
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