The bitter court battle over the sale of Liverpool soccer club resumed Wednesday with the American former co-owners pursuing a $1.6 billion damages claim for what they called a "giant swindle."
The case in London comes as Liverpool's fortunes on the field have been revived for the first time since Tom Hicks and George Gillett Jr. were forced to sell the club against their will to the owners of the Boston Red Sox in October.
Lawyers for Hicks and Gillett need the approval of the High Court judge to pursue damages against the Royal Bank of Scotland and three then-club directors who approved the $476 million sale to New England Sports Ventures.
In October, Hicks and Gillett had to withdraw a temporary restraining order blocking the sale, which they had obtained in a Texas court, to avoid being declared in contempt of the London court.
"There is no settled decision by us to sue in England or abroad," Paul Girolami, representing Hicks and Gillett, told London's High Court on Wednesday.
Hicks has claimed "the British Establishment" conspired to sell the club for less than half of what it was worth to NESV, which is led by Red Sox owner John Henry.
Hicks and Gillett were not in court Wednesday.
The case centers around whether three English board members had the power to overrule them and approve the sale to Henry's ownership group.
Hicks and Gillett were forced to put the club up for sale in April after struggling to meet the repayments resulting from their 2007 leveraged takeover. Debts had reached around $459 million at the time of the sale and Hicks and Gillett want damages for the losses they incurred as a result of the NESV buyout.
RBS, which held the bulk of Liverpool's debt, and former chairman Martin Broughton are countersuing to try to stop Hicks and Gillett from the pursuit of damages.
Liverpool was facing relegation at the time of the sale in October after the team's worst start to a season in about 50 years.
But the 18-time English champions, who fired manager Roy Hodgson and replaced him with Kenny Dalglish, have won four consecutive matches and are in sixth place in the Premier League.
