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London's High Court on Thursday evening decided that owners Tom Hicks and George Gillett's desperate attempt to stop the club's sale process is illegal.
On Wednesday night, negotiations between members of the Liverpool board and New England Sports Ventures company ended late, and a few formalities needed to be sorted out for the £300 million deal to go through.
However, at the last moment it was revealed that Hicks and Gillett had obtained a temporary restraining order in a Dallas court in the United States. According to this order, if the sale process continues, board members, NESV, and the Scottish bank covering millions in debts could end up in the dock.
However, High Court judge Christopher Floyd acknowledged that the Texas court decision does not have any power in England. He ordered Hicks and Gillett, whose actions he called "unacceptable," to withdraw the statement in the US by 6pm tomorrow. Otherwise, the Americans may face charges of contempt of court and defiance of the decision.
It is hoped that after resolving these formalities on Friday, NESV will be able to officially take over the management of Liverpool, as their competitors have already backed down from their intentions.
