Clydes advises Liverpool FC's former owners on RBS lawsuit
Clyde & Co and 3 Verulam Buildings (3VB) have won roles on the multimillion-pound dispute between Liverpool FC's former owners and RBS. Clydes is advising US businessmen Tom Hicks and George Gillet, who claim that they lost around £140m when they were pushed into the sale of Liverpool FC by RBS in 2010, arguing that the club was sold at a significant undervalue.
March 08, 2012 at 12:57 PM
2 minute read
Clyde & Co and 3 Verulam Buildings (3VB) have won roles on the multimillion-pound dispute between Liverpool FC's former owners and RBS.
Clydes is advising US businessmen Tom Hicks and George Gillett, who claim that they lost around £140m when they were pushed into the sale of Liverpool FC by RBS in 2010, arguing that the club was sold at a significant undervalue.
The UK top 20 law firm is fielding a team led by dispute resolution partner Paul Friedman, with 3VB's Ali Malek QC and Christopher Harris instructed as counsel.
The case is being heard by Justice Peter Smith in the High Court this week, marking its debut in the UK courts. Freshfields Bruckhaus Deringer disputes partner Patrick Swain and Erskine Chambers' Richard Snowden QC and James Potts have acted for RBS throughout the takeover saga.
Hicks and Gillett were ousted as Liverpool's owners in October 2010 when the club was bought by New England Sports Ventures – now Fenway Sports Group – amid a blaze of publicity. The closely-watched takeover handed related roles to a raft of legal advisers including Slaughter and May, Mayer Brown, Baker & McKenzie, Weil Gotshal & Manges, Shearman & Sterling, Macfarlanes and One Essex Court's Lord Grabiner QC.
Hicks and Gillett have also claimed that Liverpool FC's directors acted against them to force the sale of the club. UK sports law firm Couchmans is advising ex-Liverpool chairman Martin Broughton and the English directors of the club, with partner Satish Khandke heading up the firm's team alongside Paul Harris QC and Owain Draper of Monckton Chambers.
Slaughters advised Liverpool throughout the 2010 takeover negotiations, led by corporate partners Nigel Boardman and Mark Zerdin alongside finance partner Stephen Powell.
For more, see Liverpool's former owners head for High Court in takeover damages bid.
- Click here for a detailed report by Slaughter and May on the Liverpool takeover
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