After a nerve-wracking Tuesday and night for Liverpool fans, Justice Floyd today delivered his verdict in a packed Court 18 at the High Court.
He described the present state of Liverpool Football Club as
unacceptable
and declared in favour of RBS to reinstate the board that Tom Hicks illegally attempted to split up last week.
The Judge warned Hicks and Gillett, that under the terms of the loan agreement
the owners had no right to veto the sale of Liverpool Football Club .
Under the plans from NESV, the £200+M of acquisition debt will be removed from Liverpool Football Club’s books. Tom Hicks and George Gillett will lose out to the tune of £140M over the period of their ownership.
Hicks and Gillett have been refused the right to appeal.
Liverpool may still seek to get a declaratory judgement, if required, this has been pencilled in for 21st October. This is to effectively remove any right that Hicks and Gillett have ownership of the club.
More updates to follow.