Source: Team_Talk
Lim withdraws offer for Reds
Singapore businessman Peter Lim has withdrawn from the race to acquire Liverpool after claiming he was "ignored" by the club's board.[LNB] The billionaire lodged an improved bid of £320million - bettering the accepted offer from New England Sports Ventures (NESV) by £20million - on Tuesday morning.[LNB]Lim felt the board should have given more consideration to his bid, in which he also promised to provide manager Roy Hodgson with a £40million transfer kitty for January.[LNB]However, yesterday's High Court ruling - pursued by the club's major creditors Royal Bank of Scotland - paved the way for the NESV deal to go through.[LNB]Even last night's Texas court temporary restraining order obtained by owners Tom Hicks and George Gillett did not enhance Lim's chances as the American duo made the claim there are better bids waiting to be made.[LNB]Lim has now given up his current bid to takeover from Hicks and Gillett, although he has indicated it is not the end of his interest.[LNB]He said in a statement: "I have tried to engage constructively with the board and RBS based on an offer, funded from my existing resources, providing greater value for Liverpool Football Club, more cash for players, full repayment of all bank debts and a long-term personal commitment to build a better future for the club and its supporters.[LNB]"The board and RBS have chosen not to respond or to discuss my offer with me.[LNB]"My representatives even offered to meet the board last night. This was ignored, although NESV was invited to attend that meeting.[LNB]"It has become clear to me that the board is intent on selling the club to NESV to the exclusion of all other parties, regardless of the merits of their bids.[LNB]"In these circumstances, I am not able to proceed with my intention to acquire the club.[LNB]"If current events cause the circumstances to change, my interest in acquiring the club remains.[LNB]"I would, however, extend my very best wishes to Liverpool Football Club, the staff and players, and the fans, who really deserve better than this.[LNB]"I hope the club now moves towards realising its potential and achieves success on the pitch."[LNB]Meanwhile, Hicks and Gillett were accused of "outrageous" behaviour this afternoon when RBS returned to the High Court seeking anti-suit injunctions to nullify decisions taken in the court in Dallas.[LNB]Mr Justice Floyd had given a ruling in London yesterday that meant the English directors of Liverpool could agree a £300 million takeover by NESV.[LNB]But before the board could make any decision last night, Hicks secured a temporary restraining order from a Texas court.[LNB]Richard Snowden QC, for the bank, said there were no legal representatives for Hicks and Gillett in court today although they had been informed of the latest move.[LNB]Mr Snowden said they had been forced to act because of "extraordinary events" following the High Court ruling.[LNB]He said the American owners had complied with the orders to restore the original directors of the Liverpool board but at the same time had launched a US action.[LNB]"About five minutes before before the board was due to commence the meeting at 2030 hours, solicitors for the companies were informed that relief had been obtained from a judge in Texas, purportedly on behalf of the three English companies (which control Liverpool).[LNB]"The Texas court seems to have been told remarkably little about the proceedings in this court."[LNB]He said the US court had also allowed an injunction to stop RBS exercising its right to recall its loan.[LNB]"This is the most outrageous abuse of process."[LNB]He said Hicks and Gillett had agreed for the sale process to continue in compliance with the order of the High Court and then they had taken action in the US in defiance Mr Justice Floyd's "clearly expressed intention".[LNB]"The proceedings in Texas are plainly inappropriate. This dispute involves an English football club and three English companies and has no connection with Texas other than that Hicks and Gillett may reside there.[LNB]"It is a plain attempt to frustrate and impede the proceedings."[LNB]He said the American owners had made "scurrilous allegations" against RBS in the Texas court which had no basis in fact.[LNB]Mr Snowden said granting anti-suit injunctions always ran the risk of an affront to a foreign court.[LNB]"But it is apparent the US judge himself was aware that what he was being asked to do might cause some ruffling of feathers in this jurisdiction."
