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Red army set to flock to London for LFC's High Court D-day


RafaShanks

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A RED army is set to flock to London for what is being billed as the most important days in Liverpool FC history.

 

D-Day is expected next week when hundreds of supporters will descend on the High Court for the club’s critical ownership battle.

 

Liverpool are currently preparing a heavyweight legal case with solicitors Slaughter and May as they seek a declaratory judgement to formally seal the £300m Reds sale to New England Sports Ventures (NESV), owners of the Boston Red Sox baseball team.

 

If Tom Hicks and George Gillett decide to attend the Royal Courts of Justice in person to oppose the move, the Americans have been promised a warm reception.

 

Liverpool fan groups said many of them were planning to line the streets of the Strand in the capital.

 

Today, James McKenna, spokesman for Spirit of Shankly, said there had already been interest among supporters in heading to London.

 

He told the ECHO: "People have started talking about heading down to London, particularly if Hicks and Gillett will be there. I do know supporters have been discussing making their presence known.

 

"There’s only one door in and one door out of the court, so it’s a good opportunity to make our feelings known."

 

Further scrutiny of New England Sports Ventures reveals they have made assurances no money will ever be taken from Liverpool FC and used to invest in the sports investment company back in Boston.

 

And executives have vowed to slash the club’s crippling £25m annual interest repayments - triggered by Hicks and Gillett’s huge leveraged stake at Anfield - to just £2m a year.

 

That would free up a significant sum of £23m each year to invest in the playing squad or stadium, the ECHO believes.

 

The exact day when the Reds’ future will be played out by top barristers in the courts as yet remains unknown.

 

But with the Royal Bank of Scotland deadline fast approaching, when the owners must pay back their £237m debt, the matter will almost certainly be listed before next Friday.

 

It is thought no formal approach has yet been made to list the case with the High Court.

 

Her Majesty’s Courts Service said emergency matters, such as this, could be given a slot within days.

 

Stephen Horner, member of Reds pressure group Kop Faithful, said: "We want a speedy conclusion which will mean the debt is cleared and we can move on with a new stadium.

 

"Fans are very keen this deal with New England is pushed over the line. If (LFC chairman) Martin Broughton is pushing forward, clearly we have carried out due diligence and this is right for the club. If protesting outside the courts is something we feel we need to do, then we will do it. Everyone wants a resolution sooner rather than later."

 

Liverpool are certain the ownership dispute will be resolved, either way, by a week on Friday and the prospect of the legal battle rumbling on for weeks or even months, as predicted by some finance experts, is a scenario given little credence at Anfield.

 

Nigel Boardman, from Slaughter and May, is thought to be leading Liverpool’s legal team, a man named by The Times in their 100 most influential people in business.

 

And in an eye opening turn of events yesterday, the London-based branch of a New-York law firm pointedly removed themselves from any association from co-owner Tom Hicks.

 

After legal press reports named Weil, Gotshal & Manges as representing the Texan at next week’s court hearing, top employees were bombarded with emails from angry Reds.

 

Hours later, after being contacted by the ECHO, they issued a statement which said: "We are not acting for the owners of Liverpool FC in relation to the dispute with LFC. In addition, in our role advising the owners, we have never acted, and would never act, adverse to Liverpool FC."

 

After a frenetic 24 hours on Wednesday, with both Liverpool FC and Tom Hicks issuing statements and counter-statements, yesterday was a period of relative calm, publicly at least.

 

The Texan refused to expand on his position, curtly outlined in a statement late on Wednesday, when he called Martin Broughton’s move to sanction the NESV sale as unlawful.

 

Today, it also emerged how Boston Red Sox owner hedge fund manager John Henry and NESV chairman Tom Werner, two of 17 stakeholders in the sports investment company, had been on the verge of coming to Liverpool on Wednesday, under the assumption their deal to take over the Reds was complete.

 

But the trip, after negotiations with Martin Broughton in London were cordially agreed, was cancelled after Hicks and Gillett’s dramatic boardroom intervention which flung Liverpool’s future into a legal minefield.

 

The purchase of the club has been formally approved and papers signed, despite the pending court battle.

 

If the English board members are successful, a few minor formalities will be completed to give them the keys to Anfield, a stadium which has already been visited by the Americans.

 

 

http://www.liverpoolecho.co.uk/liverpool-news/local-news/2010/10/07/red-army-set-to-flock-to-london-for-lfc-s-high-court-d-day-100252-27427383/#ixzz11kpwmosT

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My daughter at the LSE, just round the corner from the High Courts, is mobilising support among her student friends/LFC supporters. There are loads of Liverpool supporters at university in London, as well as exiled scousers, so we should get all of them to the Strand.

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My daughter at the LSE, just round the corner from the High Courts, is mobilising support among her student friends/LFC supporters. There are loads of Liverpool supporters at university in London, as well as exiled scousers, so we should get all of them to the Strand.

 

1 post a year, hope they are all this good

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I'm guessing Weil Gottschal were conflicted out in some way - perhaps they get a chunk of annual revenue from NESV or one or more it's investors.

 

You would hope that between them, the Corporate departments at Slaughters (LFC) and Freshfields (RBS) would know how to read some simple documents and company structures under English law.

 

Let's face it, Boohog on here has managed to find out volumes about how the whole G&H structure is set up and who owns what. I can't imagine some Corporate partner billing out at £800 an hour didn't ask some minion "what's the structure, who owns what and who controls what?" before reaching a conclusion about what MB and the board could do

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This is the stupidest idea ever.

 

Why? Public support/protest is a good thing

Too many people will sit around and complain and do f*** all.

Not me. I'll be there when we get the right judgement and will celebrate like never before

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Get down there London reds - great opportunity to show the world what this means to us, line the streets.

 

Broughton walks to the top of the steps and announces victory, you all go crazy and break into an impromptu rendition of 'Blow me f*ck face' to the tune of Big Ben's chimes.

Edited by Leo No.8
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"There’s only one door in and one door out of the court, so it’s a good opportunity to make our feelings known."

 

This isn't strictly true unfortunately. There's one door in, but plenty out.

 

Anyway, i will get down there depending on work.

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