Liverpool FC's former owners are set for a return to the High Court in the latest twist in the long-running saga over the takeover of the football club.

US businessmen Tom Hicks and George Gillett, who are being represented by City firm Peters & Peters and Paul Girolami QC of Maitland Chambers, are due to return to the High Court on 9-10 February next year.

Hicks and Gillett are seeking to overturn an anti-suit injunction granted by Mr Justice Floyd in the High Court on 14 October, which dismissed a restraining order taken out in Texas by the pair to block the sale of the club.

Liverpool was eventually sold to US sports group New England Sports Ventures (NESV) for £300m – a price Hicks and Gillett believed was significantly below market value.

The move to overturn the injunction is part of an effort by Hicks and Gillett to pave the way for a damages claim against former Liverpool chairman Martin Broughton, NESV and the Royal Bank of Scotland (RBS) – Liverpool's main creditor. The US duo are reportedly seeking damages of as much as $1.6bn (£1bn).

However, at the same time, Mr Justice Floyd will decide if RBS and Broughton can proceed to apply for negative declaratory relief – a declaration from the English Courts that RBS and Broughton would have no liability to the US duo anywhere in the world on any basis relevant to the sale of the club.

Sherman & Sterling is advising NESV, while Freshfields Bruckhaus Deringer is advising RBS with Erskine Chambers' Richard Snowden QC instructed as counsel.

Broughton, who today (1 December) officially handed over the role as Liverpool chairman to NESV's Tom Werner, is being advised by sports boutique Couchmans.