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The high profile dispute over the sale of Liverpool FC has settled, averting a 50 day trial.
The claimants, former owners Hicks and Gillett, attempted to delay the start of the trial and vary the security for costs order. They argued that they could not raise the funds to pay for the case should the trial begin in April and that the payment for security for costs should not be expedited, therefore delaying the case until late 2013 or early 2014.
In the judgment Lord Justice Lewison stated: “The parties’ positions fluctuated during the course of the [High Court] hearing, not least because Mr Malek dropped the bombshell that neither he nor his instructing solicitor could conduct the trial in June. But it was never suggested to the judge that the indication that he gave in his draft judgment back in August that he wished to see a trial early in 2013 was wrong in principle.”
A statement released today stated: “The parties have now agreed a settlement (the terms of which are confidential). All claims and allegations made against Messrs Broughton, Purslow and Ayre have been withdrawn by Messrs Hicks and Gillett and all legal proceedings between the parties concluded.”
Paul Harris QC and Owain Draper of Monckton Chambers acted on behalf of the defendants Broughton, Purslow and Ayre.
The decision has been featured in an article in The Lawyer. To read the article in full, please click here.