Channon's Sideburns

But are Barclays involved due to their arrangement with Gaydmak over the surrounding land? That would give them an interest in what happens...

Al Mirage's company...where is that based? Portpin....based in? If they are both based in British Virgin Islands, would any agreement between the two parties regarding Nottarf Krap fall under British law??

Thanks GM. :-D

Going back to that article (Mail or Guardian??) it did state on the graphic about the charges over the land etc...question is,was the article published before or after Chinarai took his charge? OOPS...JUST SEEN GM'S POST!

Well, a CEO with a working knowledge of finance? Nah, he's just an employee....

Exactly. If any borrowing restriction was still on Nottarf Krap when Chinarai provided the finance to Al Mirage, then as 1st legal charge Barclays would have to: a) approve the placing of a 2nd charge in the first place; b) be first in line for paying should the company fail to maintain the credit. It's no different to residential lending - say you're mortgaged to Northern Rock, and then try to get a secured loan from Ocean Finance (;-)) - Northern Rock have first dibs should you default, and have to approve you applying for the Ocean loan.

Why do I get the feeling that although Admin is supposed to make things clearer, that in fact it's getting murkier?

In fact, yes I do give a toss about local businesses, including those from Pompey. Probably care more than Peter Storrie to be honest. So Terry the Builder then? Didn't they say in the forum last week that he was owed thousands? and that he had sponsored players in the past (or present)? What a great way to treat a local fan - yep, that's your owners doing that. What we are looking at now is an insolvent company sidestepping the authorities and people like Terry. Instead of criticising my views on the 'club' and the scum that run it, why not consider this.. Are you proud of Portsmouth Football Club this evening? I appreciate that there are always casualties when businesses go bust - it doesn't however excuse the moral issue of what Storrie, Chinarai, Gaydamak etc have done. That isn't MY fault.

Yep, I spotted that earlier. Don't worry - they'll be well out of there before the FA or the Prem even realise. They just don't fookin care.

Well, Mark Fry said that they would not have been given the 7 days normally.... Great move by the Judge. Justice has not been served. So, Poopey are saved for a month or two whilst local businesses may go to the wall as a result....hardly fair is it?

Just putting 2 and 2 together... Weston stated to get this plan into place that they would have had to applied for this back on Saturday or Sunday..... Phil mentioned something happening over the weekend that may have changed the '48hours' mentioned by Storyteller..... Cue influx of articles online on Monday about the 'takeover'...

Which probably indicates their meetings til 2am were probably with the Prem and lawyers. Just a wild assumption.

I get the feeling this end result does the following: a) eradicates the meeting which would confirm they are insolvent; b) this gets Storrie and Premier Lge et al off the hook (for now); c) gives Chinarai a route out (whilst maintaining the ground freehold); d) passes the overall destiny of the club from Chinarai to the Administrator e) Administrator views the books...and then it would then pass details on if suspicious. f) they get relegated, stumble to end of season, and freefall. g) they are no longer the Premier League's problem. I get the feeling that Chinarai will walk away the 'hero'....with Storrie left looking over his shoulder.

He said... Administrator will ensure Insolvency Hearing dismissed for Monday. Reckons the debts can be restructured. Wage Bill is an issue - money needs to cover trading. Administrator would have to assess before Friday whether enough income would be there to run the club until a buyer (:-D) would be found. HOPE THE FOOKERS FAIL.

I reckon HMRC will be on the case over all this today. They are not going to be pleased. Insolvency expert on Solent now...

Solent are still saying that the court case has been suspended. Where's the proof apart from Chinarai's statement ????????? Sky News saying the same..... http://news.sky.com/skynews/Home/Business/Portsmouth-FC-Owner-Says-Club-Will-Go-Into-Administration-If-It-Cannot-Find-Buyer-By-Friday/Article/201002415557976?lpos=Business_First_UK_News_Article_Teaser_Region_0&lid=ARTICLE_15557976_Portsmouth_FC_Owner_Says_Club_Will_Go_Into_Administration_If_It_Cannot_Find_Buyer_By_Friday I can't see how, if he is now termed as the 'owner' that HE can put them into admin. What is the fookin point of a WUO meeting if it can be avoided by sidestepping the process?

When I meant Jordan's fishiness..I meant this one ;-)

Have they paid them then? Christ they're on the up. :-D

So we have someone, who is not the official owner, acting as the owner trying to sell it, then if it doesn't go the way he wants, he gets to act as a creditor?? The whole thing is bullsh1t.

Conflict of interests? Also, how can he, with a vested interest in avoiding the HMRC petition, make this decision without gaining High Court approval? What about the insolvency? Statement of Affairs???? (My cynical side feels that the Prem have a vested interest in the SoA issue being buried)

The other thing to consider is the mention of Portpin being the overall owner, which is where the Kushnir involvement comes in. Now, is a company allowed to own a club in that way? - what about changes at Companies House?! Even if it can, surely the Premier League should be completing suitable diligence on these individuals. The whole affair is more fishy smelling than Jordan's unmentionables.

I reckon there's some more twists and turns yet. Where's Dubai Phil when we need him...haha

Apparently all media enquiries now go to Phil Hall, not to the club. Ever felt marginalised Mr Storrie....I'd get in the Merc and drive now.

Before Corp Ho turns up...can I say... 'It ain't over til the Fat Lady Sings' You aren't out of the woods yet...in fact you may have turned into a cul-de-sac. :-D

Interesting how, slowly, bit by bit, the truth is coming out. This little gem from the latest BBC report... http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8527495.stm 'Pompey are currently controlled by Balram Chainrai and Levi Kushnir, who each have a 50% share in the club.' SO.....HAS LEVI KUSHNIR PASSED THE FIT AND PROPER TEST TOO?