Liverpool Said to Be in Default, Bankruptcy Possible (Update1) -HAHA

By Tariq Panja
Oct. 11 (Bloomberg) -- Liverpool ?s holding company is in
default over 280 million pounds ($446 million) owed to Royal
Bank of Scotland Group Plc and Wells Fargo & Co., and the banks
may put the soccer club into bankruptcy protection, three people
familiar with the situation said today.
While U.K. newspapers including the Daily Telegraph have
reported that co-owners Tom Hicks and George Gillett ?s debt
matures on Oct. 15, the loan is already in default, say the
people, who declined to be identified because of pending
lawsuits. The U.S. pair is trying to block a sale to New England
Sports Ventures LLC because they say the price is too low. A
court action begins tomorrow.

Posted By: fal5taff on October 11th 2010 at 14:43:20

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