Legal Commentary

Whether or not you are a scouser, I would encourage you to go to this page right now -- now! -- to experience the thrill of international corporate warfare in real time.  Yesterday a British court ruled that the board of Liverpool Football Club had the power to go through with its sale of the club to the folks who own the Boston Red Sox.  I say the "board," although that was part of the dispute, as the owners -- two Americans, including the former owner of the Texas Rangers -- had changed the composition of the board in breach (as the U.K. court found) of an agreement with UBS, who had lent them £200m.  If this is all a bit much to figure out, then add in a late-breaking TRO from a Texas trial court judge enjoining the sale!  Today the parties are back in U.K. court, and there could be a verdict as I am writing this now.  If the sale doesn't go through today, UBS can take over the club tomorrow, which will cripple LFC's standings in the Premier league.  So check out David Zaring's piece from yesterday for background, and keep hitting "refresh" at the Guardian's site.  And feel free to email the Guardian's reporters if you have any in-depth knowledge about Texas civil procedure.

UPDATE:  Mr Justice Floyd is back, but a decision is still pending.  Tough to take!  And I'm wholeheartedly in the board's camp.  I've been brainwashed, perhaps, by things like this.

UPDATE 2: From the Guardian blog:

5.21pm: Judge rules that anti-suit injunction wanted by RBS and other parties (board) against owner's action in Texas is granted. "This case has nothing to do with Texas."

If anyone with international civil procedure expertise would like to weigh in on what happens next, I'd be much obliged.