3.55pm: Talking to legal experts, the feeling seems to be that H&G probably will try to get the appeal court to hear them. But if the LFC/NESV talks are concluded and the deal is done, an appeal court ruling won't be able to unpick that deal. It might become a case for damages, though. H&G could potentially hope for £100m damages, but would be very unlikely to get them.
Lawyer (and Liverpool fan) Damian McPhun emails: "In order for any appeal to succeed, H&G will need to demonstrate that the verdict of the judge at first instance (i.e. Justice Floyd) was "wrong". In reality this means they will need to show that the verdict was not within the reasonable spectrum of decisions that could be made about the case. The mere fact that an Appeal judge might have come to a different opinion is not the determining factor - the Court of Appeal won't interfere unless a verdict is obviously wrong. Even to get permission to appeal H&G will need to show that an appeal would have reasonable prospects of success - not a formality in this case."
3.49pm: LFC board meeting that will decide future of club will take place at Slaughter&May's London offices at 8pm - media scrum already in place, tweets @danroan.