Friday, October 15, 2010

Hicks And Gillett Lift Reds Restraining Order

Reports claim Tom Hicks and George Gillett have now lifted the Texas court restraining order preventing the Royal Bank of Scotland (RBS) from completing the sale of Liverpool.

ESPNsoccernet understands NESV have a banker's draft ready to dispatch to RBS before the 1700 BST deadline on Friday to erase any lingering concerns about Liverpool going into administration.

However, the early lifting of the injunction could also be because Hicks and Gillett are keen to push through a deal via Mill Financial. Hicks is apparently looking to sell his shares to the hedge fund, which acquired Gillett's shares in August, and it would then pay off the debts (which have risen to £280 million) to keep the club out of NESV's hands.

Indications are, though, that RBS has been advised by their legal team against accepting Mill Financial's offer to do so and it is still unclear as to whether Hicks requires the Liverpool board's approval to sell his shares.

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