4.33pm: While we wait for that ruling, and while we have all been acting with one eye on RBS's 15 October deadline for debt repayments, how about this intriguing question:
Is tomorrow's deadline irrelevant? Could it be that RBS cannot put Liverpool into administration tomorrow?
Jill Treanor, our banking correspondent, writes:
The City is still poring over the restraining order issued last night by the Texan court and getting stuck on a single paragraph. It is there to be seen in the restraining order but is causing some confusion in City circles. To spell it out, at the
bottom of page 5, reads.... "the defendants and their officers, agents, servants, employees and attorneys.....are temporarily enjoined from engaging in the following acts;
b) ...taking any action to modify, pledge, sell, transfer, seize, foreclose or dispose of Plantiffs ownership in Liverpool FC".
Could this mean that even if RBS did want to call in its loan tomorrow night, when the £200m plus £40m of penalty charges are due, that the Texan restraining order would stop it from doing so? RBS no doubt has lawyers trying to work that out right now.