High Court rules against Tom Hicks and George Gillett

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Tom Hicks and George Gillett's increasingly desperate bid to retain control of Liverpool has suffered a major setback after a High Court judge ruled their injunction blocking the sale of the club was invalid.

Gillett and Hicks took action in a Texas District Court after the High Court in London had dismissed their attempts to prevent a takeover by New England Sports Ventures (NESV) at a hearing on Wednesday.

The American pair were seeking damages in excess of one billion US dollars following the decision of the Anfield board and the club's major creditor, the Royal Bank of Scotland, to sell to the owners of the Boston Red Sox.

However, following another day of legal wrangling, Judge Christopher Floyd ruled that their US injunction held no validity in England.

He claimed the case "had no real connection to Texas" and called the pair's conduct "unconscionable".

The path now appears to be clear for NESV to complete their £300million takeover deal which was agreed last week.

Earlier on Thursday, Singapore businessman Peter Lim withdrew his 11th hour takeover offer which he had tabled on Tuesday.

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