LFC court case so far

The court case regarding Liverpool Football Club’s future has broken for lunch after an eventful first two hours in the courtroom.

To bring you up to speed, the Royal Bank of Scotland are claiming that Hicks and Gillett acted illegally in trying to remove board members Christian Purslow and Ian Ayre shortly before the club was agreed to be sold to New England Sports Ventures.

However, Hicks and Gillett’s representative at the high court in London says the board did not properly consider offers from two other parties. One is Mill Financial – the company that has been working with George Gillett. The other is Meriton, which could be the bid of Singapore billionaire Peter Lim.

Hicks and Gillett claim there was no Kop Holdings board meeting to discuss the sale of the club to NESV.

They say a meeting with Mill Financial scheduled for Thursday was cancelled and the club’s board did not keep them informed of events after 4.30pm on Tuesday, 5th October.

In addition, it has also emerged this morning that Singapore billionaire Peter Lim has upped his offer for the club to £360million. The offer would be in cash – so no loans – and he would provide £40million for player transfers. However, if Hicks and Gillett are defeated in the high court, the sale to NESV would go through.

The case will resume after lunch at 2pm. You can follow the latest with our live commentary (may be slow), or on Twitter.

Join other fans in the forums to discuss the latest events.