Mill Financial set for key role in takeover

[Dirk]

According to Dan Roan of the Beeb, Mill Financial could become significant players in this mess. Mill Financial are owned by Dwight Schar who is co-owner of the Redskins. From cowboys to indians.

 

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[llego]

What exactly does this mean?

[Kopite Pete]

They hand Tom the money to pay RBS off?

[Silly season]

Mill took gilletes shares off him about 3 months ago.

 

They hate hicks, no way will they fund him! But they will won't money, no company wants worthless shares. So their legal team could be having alot to do with this now!

[RedinSweden]

 

Why has "solely" been added to the text about what the claim is based on?

[Guest ShoePiss]

 

Why has "solely" been added to the text about what the claim is based on?

 

Because he hasn't actually looked into the worthiness of the allegations at all.

[Menc]

 

Why has "solely" been added to the text about what the claim is based on?

 

Think the judge has added it to demonstrate that he’s granted the temporary restraining order purely on the basis of what they’re claiming there. Although why the fuck he thought those were valid grounds for contradicting the UK High Court is a mystery.

[Mcb]

And they left out Nash's name in the text

[Teigen]

what a mess..

[Sangria]

Does anyone know when Mill got involved was it when Gillett had to pay down the RBS loan and if so it is crazy they lent him the money with his shares in Liverpool as assurity.

 

How could he manage to do that when RBS was the lender and had first call on his shares if he went tits up, which he did.

 

Am I missing something here but it just seems mad in todays markets there is still financial institutions out there prepared to lend money in this fashion.

 

It is madness unless I am missing something which I might well be. Enlighten me someone, if I am.

[Silly season]

Martin just spoke on SSN saying he remains confident. Hasn't got any news yet but to keep the faith!

 

He's working hard on it. In Broughton we trust!

[Pdool]

Does anyone know when Mill got involved was it when Gillett had to pay down the RBS loan and if so it is crazy they lent him the money with his shares in Liverpool as assurity.

 

How could he manage to do that when RBS was the lender and had first call on his shares if he went tits up, which he did.

 

Am I missing something here but it just seems mad in todays markets there is still financial institutions out there prepared to lend money in this fashion.

 

It is madness unless I am missing something which I might well be. Enlighten me someone, if I am.

 

I've heard from a mate (not exactly concrete I know) that they took a 25% stake because Gillett defaulted on a £75m loan. If thats true then Mill Financial can only realistically value the club at, erm....£300m.

 

Kind of contradicts any notion that they value the club 'hundreds of millions' more than the current deal on the table.

 

This is just what I've heard so if anyone can shed anymore light on this then brilliant.

[Jim MM]

I've heard from a mate (not exactly concrete I know) that they took a 25% stake because Gillett defaulted on a £75m loan. If thats true then Mill Financial can only realistically value the club at, erm....£300m.

 

Kind of contradicts any notion that they value the club 'hundreds of millions' more than the current deal on the table.

 

This is just what I've heard so if anyone can shed anymore light on this then brilliant.

 

My guess is that they will argue that it was worth £300m at the time they gave him the loan but thanks to the hard work of our custodians it has appreciated in value to $1.6 billion.

[RedinSweden]

Interesting interview with an American lawyer about all this. It is so obviously purely a delaying tactic. My only hope is that this somehow results in some further penalty for wasting the time of the judge and court in Texas.

 

BBC Sport - Football - US lawyer Tom Cruise explains temporary LFC injunction

[bigbak]

If you tallied up the playing assets, ground, training ground and anything else you'd probably end up at a figure higher that the club is being sold for.

 

I think we're all caught up in wanting to get one over on Hicks.

[Mr Piechnik]

From Robert Peston's blog on BBC.

Royal Bank of Scotland tells me that if it's true that Mill has taken the Hicks/Gillett shares and if Mill repays the £200m long-term debt owed by Liverpool FC (plus penalty fees) to RBS and Wachovia, then Mill is in the driving seat.

 

Once the debt is repaid, RBS's power ends.

 

At that point, the deal with New England Sports Ventures collapses.

 

Liverpool would have a new owner, Mill. And Mill will do with Liverpool what it pleases.

[TheDrowningMan]

I hope everyone at Mill financial dies of AIDS.

[Menc]

If you tallied up the playing assets, ground, training ground and anything else you'd probably end up at a figure higher that the club is being sold for.

 

I think we're all caught up in wanting to get one over on Hicks.

 

You would, but when you also consider the debts, how close the club is to administration, and the amount of money the club needs invested in it, the market value is only around £300 million. That’s the figure both NESV and Lim came to, and it’s only since NESV’s offer was accepted that Lim’s increased his for the headlines. These other bids that have supposedly been secretly writing to Hicks are just a joke.

[ngogswilly]

Well they need PL approval at least, i really cant see how they can just buy Hicks shares and takeover as easy as is being reported.

[t1971]

From Robert Peston's blog on BBC.

Royal Bank of Scotland tells me that if it's true that Mill has taken the Hicks/Gillett shares and if Mill repays the £200m long-term debt owed by Liverpool FC (plus penalty fees) to RBS and Wachovia, then Mill is in the driving seat.

 

Once the debt is repaid, RBS's power ends.

 

At that point, the deal with New England Sports Ventures collapses.

 

Liverpool would have a new owner, Mill. And Mill will do with Liverpool what it pleases.

 

But if the board has agreed a sale to NESV, how can any shareholder stop that? Surely it comes down to whether or not the board had the power to sell? Courts here have said the board did have the power to sell. Not sure how Mill taking on a share changes that??

[bus24]

Wouldn't the 'home team' have to ratify the sale of Hicks' shares?

 

Mill Financial would be an unmitigated disaster.

[aiyic]

Fuck!

[Kurt]

Interesting interview with an American lawyer about all this. It is so obviously purely a delaying tactic. My only hope is that this somehow results in some further penalty for wasting the time of the judge and court in Texas.

 

BBC Sport - Football - US lawyer Tom Cruise explains temporary LFC injunction

 

 

 

But what the hell do Tom Cruise know?

 

We surely are in for a few days of thunder in the courtrooms.

[Silly season]

Well they need PL approval at least, i really cant see how they can just buy Hicks shares and takeover as easy as is being reported.

 

hicks would still pass the prem test. I read that somewhere.

 

so i dont think that will cause mill any issues.

 

do we know what their intentions will be for us?

[ngogswilly]

The BBC needs to get to the bottom of this and stop scaremongering here, they seem to be reporting the Mill now owns us. But how can that be? Hicks took out a TRO to stop anything happening with the club but he can go ahead and sell his shares???

 

And these guys can just buy our debt and takeover as easy as you'd like. Fuck off with that.