Liverpool chairman and RBS return to High Court to fight injunction
Published 14/10/2010 | 12:41
Liverpool chairman Martin Broughton and Royal Bank of Scotland will return to Britain's High Court at 2pm this afternoon to fight the temporary restraining order (TRO) which has prevented the club being sold to New England Sports Ventures.
Broughton and John W Henry, owner of New England Sports Ventures, were close to sealing a £300m (€340m) deal before owner Tom Hicks sealed a dramatic 11th-hour intervention on Wednesday night (read the full Dallas injunction here).
And now, after consultations at the London offices of the club's solicitors, Slaughter & May, this morning, Broughton and RBS will return to the High Court to seek an injunction against the TRO.
A parrallel legal avenue being explored by the club involves going to the US and seeking to have the TRO overturned by a higher court in Texas. This, though, would take longer and there is already an expectation that the case will take a couple of days to resolve leaving Liverpool's future uncertain until next week.
The timetable for resolving this issue may depend on whether Henry remains in the UK and sticks with the arranged plan to attend the Merseyside derby on Sunday.
Hicks’ suit, filed against Royal Bank of Scotland, club chairman Broughton, directors Christian Purslow and Ian Ayre, NESV and Liverpool finance director Philip Nash, claims damages totalling approximately $1.6 bn (over €1.4bn).
The suit claims that RBS, the board and NESV conspired in an “epic swindle” to sell the club for less than its value.
Hicks accuses Broughton, Purslow and Ayre of acting “as pawns of RBS” for ignoring offers he says were higher than the £300m (€340m) offered by NESV.