Kenny Huang linked to Liverpool takeover

[Red Phoenix]

ATK is bang on the money.

 

I think it's too early to tell to be honest, we don't know who's backing Huang, how much they want the club before the window closes, or enough details of how the sale process is actually going.

[Albertini]

You really havent got a clue what your talking about. I suggest you stop trying to look clever and go to company law school.

 

RBS can do lots of things but with the consent of the shareholders. if not they have to legally enforce the repossession of there assets which will take the form of a 21 day statutory demand, that is uk law.

 

I'm not trying to look clever pal. Just fed up of reading your bullshit which doesn't have a shred of evidence behind it to back it up. It's just your doom mongering opinion which i could accept if you could provide some evidence.

 

You are pres-supposing that there are no terms in the financing arrangement allowing RBS to secure equity for failure to pay their debts or any other clauses allowing them to take control of the equity in the event of a default.

 

I agree they can issue a stat demand but that doesn't mean bankruptcy will automatically follow.

 

I am not saying adminstration is impossible i am saying that i don't beleive RBS will want to go down that road for the reasons i have previously stated.

[Pidge]

They dont have any money to pay the personal guarantees so if it is sold for less than the debt RBS will lose money, its that simple

 

They are both asset rich. I wonder if Mr Hicks wants to part with his 50m ranch?

[Dougie Do'ins]

I think it's too early to tell to be honest, we don't know who's backing Huang, how much they want the club before the window closes, or enough details of how the sale process is actually going.

Yes we do. The Times told us it was CIC and China.

[Guest Numero Veinticinco]

It's a ridiculous idea that RBS would allow these penalty charges (that are for allowing the club to remain unsold) to actually hinder the sale process and make it harder to recoup their money.

 

As we've heard from respected sources in the media, it's not the case that these interest charges of 2.5m a week are just being thrown on top of the current debt for potential new owners to pay off.

[StevieH]

I don't think it shows much more than an attempt to place pieces of the puzzle together by Bascombe, to be honest. Again, no quotes, no source, just bits of the puzzle being presented in a way that the writer wants to do it.

 

I'm not so sure. Chris broke the story last week that the owners are accumulating PIK fees charged at a daily rate of 9% per year from April the 6th. He is clearly getting his information from someone.

[Red Phoenix]

Yes we do. The Times told us it was CIC and China.

 

Yeah I know they're probably involved, just wondering who the others are. Anyway, don't want to make it seem as though I'm happy with Huang owning us in the near future because with CIC any part of it I'm not.

[Guest Numero Veinticinco]

I'm not so sure. Chris broke the story last week that the owners are accumulating PIK fees charged at a daily rate of 9% per year from April the 6th. He is clearly getting his information from someone.

 

Didn't mean it like that, I meant there wasn't quotes and a sources in the article. For example, ''Hicks and Gilletts are cunts'' said NN and SH of TLW Assoc.

 

He certainly is getting his info from somewhere. The info seems to be that G+H have tried to get refinancing. The rest is his take on it. As far as I can tell, this is a good news article.

[StevieH]

Didn't mean it like that, I meant there wasn't quotes and a sources in the article. For example, ''Hicks and Gilletts are cunts'' said NN and SH of TLW Assoc.

 

He certainly is getting his info from somewhere. The info seems to be that G+H have tried to get refinancing. The rest is his take on it. As far as I can tell, this is a good news article.

 

Credit to Broughton, Purslow and Ayre for blocking the refinancing attempt, and to Chris for breaking the story. There are just under 2 months until the refinancing with RBS expires and if the club isn't sold by then I fear for our future.

[Carra_is_legend]

If we are not sold by 6th Oct, you don't need to fear SH. We can all rest assured that we are fucked, good, hard, dry and proper.

[Guest Numero Veinticinco]

Credit to Broughton, Purslow and Ayre for blocking the refinancing attempt

 

Fucking right. I've been saying all along that we're fucking lucky that a Chelsea fan actually gives a fuck enough for us not to be bummed.

[Anubis]

Credit to Broughton, Purslow and Ayre for blocking the refinancing attempt, and to Chris for breaking the story. There are just under 2 months until the refinancing with RBS expires and if the club isn't sold by then I fear for our future.

 

I'm not Purslow's biggest fan, but he's been spot on in the way he's dealt with this. I expected no less of Broughton, and credit to Ayre as well. King Emlyn and AWS have been urging caution all through this process, and it looks like they were on the money. I'm particularly worried about T&T looking at legal challenges, especially after AWS highlighted that as shareholders they can remove the board.

[Guest Numero Veinticinco]

You think so?

 

I do. He's obviously got certain pieces of information, like the yanks have tried to get refinancing, and from that he is extrapolating. It's common practice.

[Guest Numero Veinticinco]

wrong

 

I tried that in court once. The judge got up and said 'oh, sorry. You're free to go'.

[Pidge]

It's very common practice.

[Guest Numero Veinticinco]

It's very common practice.

 

Wrong.

[Dougie Do'ins]

I'm not Purslow's biggest fan, but he's been spot on in the way he's dealt with this. I expected no less of Broughton, and credit to Ayre as well. King Emlyn and AWS have been urging caution all through this process, and it looks like they were on the money. I'm particularly worried about T&T looking at legal challenges, especially after AWS highlighted that as shareholders they can remove the board.

It's almost as though someone is trying to forewarn us of this possibility. One would have to wonder where Bascombe is getting his info from.

[Red Nick]

They are both asset rich. I wonder if Mr Hicks wants to part with his 50m ranch?

 

You really think Hicks owns his 50m Ranch, it will be owned by a company in the Cayman Islands or Panama.

[Red Nick]

[YOUTUBE]rYFQZFL0yoo[/YOUTUBE]

 

you cant win an argument against thick people

[Red Nick]

I'm not Purslow's biggest fan, but he's been spot on in the way he's dealt with this. I expected no less of Broughton, and credit to Ayre as well. King Emlyn and AWS have been urging caution all through this process, and it looks like they were on the money. I'm particularly worried about T&T looking at legal challenges, especially after AWS highlighted that as shareholders they can remove the board.

 

Good to see some other people have a grasp of reality and company law

[nani112]

anyone fancy giving yahya kirdi a phone call? i have his personal phone nr

i also have gillettes home number.

 

 

not that they will be willing to talk to us. but it cannot hurt to try ?

[karl1987]

http://www.thesundaytimes.co.uk/sto/business/Retail_and_leisure/article370864.ece

 

RBS set for Liverpool takeover as deal hopes fade

 

Ben Marlow

 

Royal Bank of Scotland, the taxpayer-backed bank, is preparing to take control of Liverpool FC as the search for a buyer peters out.

 

Frantic negotiations last week with several suitors, including China’s Kenny Huang and the Syrian businessman Yahya Kirdi, proved fruitless.

 

Sources close to the talks said none of the potential buyers could prove they had the money. The club released a statement late on Friday saying the “timing and outcome” of the auction “remain uncertain”.

 

If a new owner cannot be found, RBS, the club’s main lender, may have to take it over. It is owed £237m, which must be repaid by October 6 or a penalty fee of £60m will be due.

 

The bank has set an unofficial deadline of the end of this month for Liverpool to find a credible bidder. Insiders said RBS was not keen to seize the club, but had held preparatory talks with Anfield officials in recent weeks to plan how to proceed if the search for a buyer fails.

 

If RBS were to take control, there would probably be a new bidding round. Tom Hicks and George Gillett, the club’s American co-owners, had wanted £600m but RBS would only need to recoup its loan. Hicks and Gillett would receive nothing. The bank declined to comment.

 

RBS pushed the pair into searching for a new owner in April after losing patience with mounting debts and trading losses. The Americans loaded £185m onto the Premier League club’s balance sheet in 2007 to bankroll their takeover.

 

Liverpool’s finances have deteriorated steadily since. Three months ago it reported a loss of £53m for 2009, prompting its auditor, KPMG, to issue a “going concern” warning.

 

Hicks and Gillett brought in Martin Broughton, chairman of British Airways, to chair the club and conduct the auction, with advice from Barclays Capital.

 

In recent weeks, the auction has been played out in public, with a variety of international entrepreneurs emerging as would-be buyers. At the start of this month The Sunday Times disclosed that Hicks and Gillett were trying to strike a deal with Kirdi.

 

Huang, a sports marketing executive, was named as another contender, with his advisers claiming he had backing from China.

 

Meanwhile, the finances of another top Premier League club are set to come under further strain this week. The interest rate on a loan taken out by the Glazer family to buy Manchester United is expected to rise two percentage points to 16.25% after they failed to keep the club’s debts below the level required.

 

The jump will add £5m of interest payments to the £138m payment-in-kind (pik) loan that helped the American family to finance the purchase.

 

Pik loans, which normally have high interest rates, are paid off in one hit at the end of their life, with the accrued interest added to the initial advance. The Glazers have to repay their loan in 2017.

 

The new charge means the pik will have risen from £202m last year to nearly £269m next year — making it more likely the Glazers will take cash out of the club to help repay it.

[StevieH]

If Broughton and Purslow have helped to block a refinancing attempt by the owners then I hope that this banner is not on display tomorrow.

 

 

*BANNER* - 4 Horsemen of the Apocalypse

[Soup]

double post

[Red Nick]

http://www.thesundaytimes.co.uk/sto/business/Retail_and_leisure/article370864.ece

 

RBS set for Liverpool takeover as deal hopes fade

 

 

 

 

 

Frantic negotiations last week with several suitors, including China’s Kenny Huang and the Syrian businessman Yahya Kirdi, proved fruitless.

 

Sources close to the talks said none of the potential buyers could prove they had the money. The club released a statement late on Friday saying the “timing and outcome” of the auction “remain uncertain”.

 

.

 

Told you so and I am not happy at being right but hopefully the dellusional minds get real now