Reds respond to injunction
Liverpool's directors have described Tom Hicks and George Gillett's injunction as 'unwarranted and damaging'.
Last Updated: 14/10/10 9:42am
The temporary restraining order obtained by Liverpool co-owners Tom Hicks and George Gillett in an attempt to stop a takeover deal has been described as 'unwarranted and damaging' by the club's directors.
The injunction was granted late on Wednesday night at a time when the Premier League side's board, headed by chairman Martin Broughton, was discussing a 'resolved' sale with John Henry's New England Sports Ventures in London.
Hicks and Gillett lost a High Court case against the Liverpool hierarchy and major creditors Royal Bank of Scotland on Wednesday morning, but they say they have been granted the restraining order by a Texas court.
The Anfield board are unimpressed by the actions of the American duo, who are also claiming more than £1billion in damages and have branded the proposed sale to Henry as an 'epic swindle', with a hearing date set for 25th October.
Liverpool said in a statement on their official website on Wednesday night: "Following the successful conclusion of High Court proceedings today, the boards of directors of Kop Football and Kop Holdings met tonight and resolved to complete the sale of Liverpool FC to New England Sports Ventures.
"Regrettably, Thomas Hicks and George Gillett have tonight obtained a Temporary Restraining Order from a Texas District Court against the independent directors, Royal Bank of Scotland PLC and NESV to prevent the transaction being completed.
"The independent directors consider the restraining order to be unwarranted and damaging and will move as swiftly as possible to seek to have it removed.
"A further statement will be made in due course."
It was hoped by all associated with Liverpool that Henry's takeover would be concluded on Wednesday in order to give ample time to meet Friday's deadline to repay a debt in the region of £230million owed to RBS, which could push the club into administration.
Liverpool confirmed on 5th October that they had accepted a bid from NESV and that the sale would clear all acquisition debt, but the agreement was subject to the High Court challenge from Hicks and Gillett and Premier League approval.
Three days later RBS secured a temporary injunction preventing Hicks or Gillett making any changes to the board after the co-owners attempted to sack managing director Christian Purslow and commercial director Ian Ayre.
With Premier League approval having been granted, Hicks and Gillett attempted to challenge the sale and RBS's repayment deadline in the High Court, claiming that Broughton, Purslow and Ayre had not considered all offers.
Singapore businessman Peter Lim added to the uncertainty by submitting an improved £320m bid, while Mill Financial, the then owners of Gillett's 50% share after he defaulted on a loan, also expressed an interest.
But on Wednesday morning Mr Justice Floyd granted a High Court injunction that opened the way for the prompt sale of the club and led to the meeting at One Bunhill Row in London, with NESV also claiming they had a binding agreement.