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Liverpool near takeover after High Court ruling

eNewsletter
align=justify>Liverpool FC has moved a step closer to a takeover after a High Court ruling went against current owners Tom Hicks and George Gillett.

The board can now move ahead with an agreed sale to New England Sports Ventures for £300m, although the club received an offer of £320m from Peter Lim on Tuesday.

Pending any appeal a takeover by NESV can now go ahead which will allow the Royal Bank of Scotland to recoup its original £237m loan to Hicks and Gillett.

In court, Philip Snowden QC, for RBS, had told Mr Justice Floyd that Hicks and Gillett were committing "a calculated breach of contract" by seeking to change the constitution of the board without the consent of the bank and the court eventually imposed injunctions on the two men requiring them to restore the original constitutions of the companies and managing directors.

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