But how can Hicks sell without approval from the board????
I don't know if he can. And even if he can, there's already a contract in place between LFC and NESV. Either Hicks or Mill Financial would be in breach of that contract if they don't complete the sale to NESV.
Thing is, without seeing the exact wording of all these contracts, we're pretty much in the dark. E.g. can Hicks/Mill exit the agreement with NESV, even after its been agreed, by paying off RBS? Don't know.