Hicks to declare bankruptcy?

[Philosophia]

So, I just heard from a friend of mine in Texas whose father knows Tom Hicks quite well. Apparently Hicks has, or is about to, declare bankruptcy. He may, of course, be confused about Hicks declaring bankruptcy and the Texas Rangers declaring bankruptcy, but I though I would pass along the information.

I apologize if this has been covered in another thread.

[Leyton388]

[Tatterdemalion]

Not sure that would be so good....

[Tatterdemalion]

Not sure that would be so good....

Philo - you kept that ****ing quiet.

Can you pass on a message?

"Hey Tom, **** off you ****ing inbred cunt".

[Leyton388]

**** him i hope he dies a very poor man. (Im not wishing death on the man just hope he dies poor)

[Tatterdemalion]

Well he's going to die sooner or later... I wonder what would happen if he died whilst owning the club. Maybe one of his girlish sons would have to take over.

[Philosophia]

Alas, I have never had any information to share before now. I'll probably hold off passing on the message but I'm with you in spirit.

Of course, I have no idea what, if anything, this would mean for us.

[Tatterdemalion]

As I understood it, a lot of the holding company's debt is the subject of personal guarantee, so bankruptcy would I guess, see that debt called immediately, in whiich case, if he can't repay (which of course bankruptcy suggests...) then the collateral comes into play. Guess who?

I'm really not sure about that though.

[JHP]

As I understood it, a lot of the holding company's debt is the subject of personal guarantee, so bankruptcy would I guess, see that debt called immediately, in whiich case, if he can't repay (which of course bankruptcy suggests...) then the collateral comes into play. Guess who?

I'm really not sure about that though.

If it is true then assets of Hicks would be called in to raise funds for creditors. That would include his shares in LFC. But I would suspect that entities owned by Hicks e.g. Rangers would be at risk and not Hicks himself and I'm sure he will have sought to ring fence his assets to limit such risks.

[Tatterdemalion]

not sure about that tbh. Not sure if personal bankruptcy allows ring fencing of assets. If it's true I'm really not sure about the impact for LFC. Is Kop Holdings a limited company?

Ashamed to say I'm not sure. I'll say it again. Not sure.

[spud_gun]

Meh.


MLB are forcing through the sale of the Texas Rangers. Bankruptcy or no bankruptcy

[Vermilion]

Did'nt he just do a big interview with a financial publication in the states about how they were getting out of sports franchise, due to privacy issues, but that it by no means meant he/the business would be slowing up, and that he, his sons, and their associates have some great projects coming up and some already well advanced, also some companies on their radar.

So going on what Hicks has said in the past while at lfc... and what's subsequently followed, this latest interview and his brash statements of future profits...could point to him being about to declare bankruptcy as suggested....

[Vermilion]

not sure about that tbh. Not sure if personal bankruptcy allows ring fencing of assets. If it's true I'm really not sure about the impact for LFC. Is Kop Holdings a limited company?

Ashamed to say I'm not sure. I'll say it again. Not sure.

You absolutely sure your not sure though ?

[Tatterdemalion]

You absolutely sure your not sure though ?

Well I think so, but not sure, like I think I said.

[Vermilion]

Well I think so, but not sure, like I think I said.

ok. Just wanted to be sure you were sure you were'nt sure.