The High Court today ruled in favour of the Royal Bank of Scotland (“RBS”) in a case concerning the composition of the Boards of the two holding companies of Liverpool F.C. (“LFC”) following actions taken last week by LFC’s ultimate owners Tom Hicks and George Gillett (“the Owners”). In particular, the Owners had purported to remove Mr Purslow and Mr Ayre, the Managing and Commercial Directors respectively of LFC from the Boards, in the context of a dispute concerning the decision to sell LFC.
The Owners were found to be in breach of an agreement with RBS that permitted Mr. Broughton, the Chairman of LFC, to lead the sale process and to make decisions as to the composition of the Boards.
Mr Justice Floyd imposed a mandatory injunction on the Owners ordering them to reverse the steps that they had taken to alter the composition of the Boards. The Judge refused permission to appeal and an expedited trial of this and related actions was ordered for Thursday 21 October.
Paul Harris represents the Chairman and Directors of LFC.
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Paul Harris QC