Thursday, February 10, 2011

Liverpool's Past And Present Owners Do Battle At High Court

Liverpool's former chairman Sir Martin Broughton, the club's new owners New England Sports Ventures and the Royal Bank of Scotland all did battle with the club's former owner, Tom Hicks, at the high court on Wednesday.

Hicks wants to take his complaint against the enforced sale of the Premier League club, which he claims cost him £140m, through the United States courts.

However, he has been prevented from doing so by a series of high court injunctions. RBS has argued that the prior rulings protect the terms and conditions of the original lending agreement to Hicks, which stated that any ensuing legal dispute must be heard through the UK and European judicial systems.

NESV is applying for the prior injunctions to be extended into a permanent action preventing any future lawsuits against the club, NESV or RBS outside the UK and Europe. Broughton has laid forth a damages claim against Hicks in relation to the American's conduct while owner. Hicks's lawyer, Paul Girolami QC, has applied to Mr. Justice Floyd to strike out or dismiss Broughton's claims. The case is expected to run until Friday.

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