Still standing in the red zone
The litigation regarding the restructuring of the RBS led syndicated loans of approximately £297 million taken on by Messrs Gillett and Hicks (the Owners) when they acquired control of Liverpool Football Club (LFC) in 2007 highlight the potential for restructurings to become hostile. This litigation originally made it appearance in the High Court in 2010 where RBS won on all counts. The same teams lined up again in the Court of Appeal just before Christmas to have another go at each other on a slightly different basis.
This article looks at some of the lessons which can be learnt from the LFC restructuring. It is the nature of these diverse and often complex transactions that some stakeholders will be disappointed with the expected outcome. When disappointment turns to active opposition the importance of early advance planning to deal with opposition in the restructuring process becomes clear.
If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.
Click on the link above to download this briefing.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
Taylor Wessing has published its Radar: Technology & Communications Update for December 2013. This section focuses on communications.
Taylor Wessing has published its Radar: Technology & Communications Update for December 2013. This section focuses on apps.
Analysis from The Lawyer
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world
Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town