Monday, February 14, 2011

Liverpool FC Must Wait For Judge’s Verdict Over Damages Claims Of Sale

A judge has three months to hand down a written judgement on legal issues surrounding the sale of Liverpool FC.

The latest stage of the legal battle ended at the High Court on Friday.

Mr. Justice Floyd must decide on a variety of issues that will affect what legal action can be taken in future by former US owners Tom Hicks and George Gillett.

Firstly he must decide whether to lift or extend indefinitely an injunction stopping Hicks and Gillett suing for damages abroad.

Former chairman Sir Martin Broughton, RBS, and new owners New England Sports Ventures are asking the court to extend the injunction.

The “anti suit” injunction was taken out when Mr. Hicks launched a $1.6bn lawsuit in Dallas trying to halt the £300m sale of the club last October.

Hicks and Gillett want the restriction removed leaving them free to pursue a legal claim against RBS and Sir Martin in the USA.

Sir Martin also wants the court to confirm he acted "honestly and reasonably" in the £300m sale of the club to New England Sports Ventures.

RBS also wants a "clean bill of health" from the court that it acted appropriately.

On Friday Sir Martin Broughton's barrister Philip Marshall told the court there was absolutely no substance in claims Hicks and Gillett were kept out of the loop over the sale. He said the pair had agreed that bids the former chairman received could be kept confidential.

The court had previously heard the sensational revelation that former LFC managing director Christian Purslow described selling the club to NESV as a "bottom of the barrel" deal just a month before it was concluded.

In an email to fellow LFC directors, he also said he did not believe NESV had the money for a new stadium, that their bid was at the "extreme bottom end" of what was wanted, and that the only positive was that they actually "existed".

It has emerged that the offer from NESV was subsequently improved and increased to the £300m that was paid after Mr Purslow’s original email.

On the final day of the case barristers for RBS and Sir Martin accused Hicks and Gillett's legal team of "highly selective" use of emails.

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