Liverpool needs to pay back £240 million to creditor Royal Bank of Scotland (RBS) by this Friday to avoid the risk of going into administration and losing nine points.
The High Court ruled yesterday in London that the restraining order obtained by the Texas-based American owners had no validity in England and gave Hicks and Gillett until 4pm UK time today to withdraw their legal action in the US or face charges.
The Liverpool board believes the sale to NESV will be concluded at some point this Friday, but wants to get the injunction overturned in Texas as well. NESV also plans to make its own submission to the US court to cancel the restraining order.
On the other side, Hicks and Gillett filed a motion for contempt in Texas after the High Court ruling, asking for Liverpool chairman Martin Broughton and the other defendants in the case to be jailed and for a daily fine of $50,000 to be imposed until the contempt is ended.
