St Chalet

At risk of sounding optimistic that has moved our GD past Uddersfield.

Loving this. However commentator has just cursed it by saying it could be 10. It could also be Leeds or Tranmere ****wit!

Back on track, proceed to 20k please.

I was going to say that the film was 'braethtkaing' but realised I am in The Lounge not the TMS.

It would be a real shame for this thread to get locked for going off topic when we had all invested so much of our lives into it!

Ok, my take on today from having read the judges statement and some of the esteemed prosecution council on here. The salient points: Tania Robins gave evidence that the money was loaned to Falcondrone, and not PCFC. No evidence has been provided that Portpin have injected any money into PCFC to justify their charge on Fratton Park, thus making them a secured creditor. Normal administrations are funded by selling the assets to repay the admin fees to restructure the business. Nothing was stated to say the club could currently function without a prop, thus we can deduce that on their own they are insolvent. If the loan was to Falcondrone then it is fair that Portpin could register a charge against FP. I have seen the document filed at Companies House and apart from the potential conflict of interest on Fuglers part it checks out. The Loan instrument GM alluded to is not available for public download (or simply not available). Enter our hero SAF. Imagine you owned a car with a friend 50/50. It cost you £10k to buy and your mate took a £10k loan out against it using the car as security then defaulted. Would it be right that he could use the full value of an asset as security, knowing that if he defaulted you would lose your half of the car - in essence it is something that he couldn't agree to and I suspect the loan company couldn't enforce if it was shown as a joint asset. Back to SAF, if he owned 10% of PCFC did he ever get £1.7m of the £17m loan, same principle should apply as above. It is complicated by the fact that PCFC have other assets (no really, they must have) but you get my drift. In a normal company, it would have been very easy for the admin team to have proved the loan from baloo to the club. I suspect as they were using the bank of Fuglers the statements are not as regular or obtainable as a high street bank, none the less they should have been able to shed light on that shadow there and then. Congrats to Baloo on being the first of the muppets to have any money! I would venture he has £15m in the bank because he doesn't plough it into dodgy business ventures. As others have noted, why not use it earlier to make the asset more saleable and keep it in the prem? As my learned friend would say, all conjecture of course.

The other interesting piece is that Fuglers, on the document, appear to be acting for Portpin Ltd. They use their registered address as the c/o for Portpin. Now at the time wasn't Jacobs work for Ali and therefore PCFC. A conflict on interest? Feel free to forward this to Charlie Sale

The Charge Deed is on Fratton Park freehold only and is against PCFC and presented by Fuglers. Created on 06/10/2009 it gives Portpin Limited as Mortgagee.

PS If anyone has an account with Companies House they can look up who has what and exact charges against the company for about a £1 or 2.

According to Companies House, they are not trading as in administration. http://wck2.companieshouse.gov.uk/6d602b08ac5ad555d5b9d674b372510d/compdetails Although CH are not real-time. The winder that HMRC are presenting is still against PCFC Ltd. Potentially the revenue might also question whether Chanrai ever put in £17m to justify the charge on two grounds: a) Sneaky bit coincidental that is the amount Gheyderdad owes him b) It's a ****hole in a sess pit c) What did they spend it on? It wasn't their taxes.

So based on this, the security arrangement was with Al-Faraj's company, not PCFC Ltd?

So basically it rests on whether by taking control of the club his secured charge was nullified. I can't see a reason why we would want to drop Portpin's charge against the stadium. http://www.guardian.co.uk/football/2010/feb/03/balram-chainrai-portsmouth-owner Chances are they can get away with it based on this as I suspect Portpin are still secured creditors. What might be interesting is if they had screwed it up on a technicality and someone / thing other than Portpin had constituted the voluntary administration. Now that would be LOL time!

At least the judge is easy going on people... http://www.telegraph.co.uk/news/uknews/5881884/Engineer-shopped-by-mistress-faces-1.5-million-bill-for-defrauding-National-Grid.html PMSL

Works for me: COURT 53 Before MR JUSTICE NORRIS Tuesday, 2 March 2010 At half past 10 GENERAL LIST GLC 37/10 Her Majesty's Commissioners for Revenue and Customs v Portsmouth City Football Club Ltd GLC 38/10 Same v Same GLC 51/10 Same v Same GLC 52/10 Grosvenor Basingstoke Properties Ltd and Grosvenor Basingstoke Management Ltd v Portsmouth City Football Club Ltd

Claim you work for Portsmouth Football Club. Then go on to say that you are planning a judicial review on the whole Rail Ticketing system. Technically they now owe you a train ticket and you will be vindicated in court, if that fails you can always appeal.

Jump on at Southampton, drink and trouser as much booze from the trolley as you can and get a cab back from Parkway.

Owen is a big game player. If we take 5 strikers he should be one of them. Have a sneaky suspicion if he can get fit, Capello will pick him.

Let's try promoting unity. "Alan and Nic's Red and White Army" followed by "Alan and Nic, Red an White" (repeat until promoted)

About time, a bit of passion. Guess what NC wants great things and so does Pardew. Professional disagreements happen in business. Personally if I had been AP and some nobber or a reporter had started spouting off about the previous game I'd have been a little ticked off. If that was SAF he would have had the guy banned from the stadium. We have a good manager in AP, I hope we retain him.

Reference to the fact that we conceded in the 3rd minute today. I believe there may have been a similar, completely unrelated thread, about late goals that used this naming convention.

Quite frankly I cannot forgive Pardew for allowing the team to concede such an early goal. Yet again we have showed mental weakness and this cannot continue. The only saving grace is we seem to have stopped conceding late goals ;-)

Even cleaners are going to be treated as VIP's under the new regieme.

Have had a bit of time to kill today and started re-reading the thread, this was posted on 08/07/2009. Looks like 1 and 2 complete and 3 in the balance!

I am sat at Cape Town airport reading this laughing out loud. Trying to explain to the locals why the plight of the fish fookers gives me such joy. What I may of missed is the rallying cry from 'The Best Supporters in the Land'. Have they arranged a bucket collection, Pompey Aid or players deferring wages? I doubt it, I doubt they will even fill the away end for what could be their last ever game today or their ****ty stadium for a premiership cup tie next week. GM is right, we had other rivals, they only ever had us. To the decent fans, I am sorry for your loss. But you do have the opportunity to build a new club that is not reliant on the hatred of your posher neighbours and free of the crooks.

Technically not a great bargain as it only runs, like them, until July.