dronskisaint

The club shop is now raising money selling hamster bedding!

Basically having assets worth less than your debts & zero cash is the definition of insolvent...'Promised money' (i.e Sky payments, gate receipts, PL money etc) is why they've been trying to spin it out but now that money has been accounted for, pledged to all & sundry, allocated against debts that they can't get near to satisfying. Administration buys them time to make deals on how many pence in the pound creditors will accept, raise new investment etc...all a pretty forlorn hope but increasingly looking like their only one:D

+1;)

Brilliant! Permission to post to every Saints fan & the odd Skate I still speak to?

They have had a number of 28 days opportunities - If the court does it's job they will be wound up - IF they don't choose admin the night before which would seem the only viable alternative...time is absolutely up now. I do share your misgivings though - they hang around like the smell of dogs*it on a cleaned boot!

Ay theng yow:)

He's probably already got a palace in fairness....

Once again I can only judge by what has been written on this as well as multiple other threads. On the basis of this I would suggest that you have a problem with Alan Pardew as manager - that would be the personal agenda that I meant. Am I mistaken then...if so I apologise but perhaps you could look back at your postings & try to understand how I could have arrived at that conclusion? On the more general point of where we are currently I argue the case with you & various others as to what is a realistic expectation in February 2010 with the club having been purchased by the current owners in July 2009.

Is that an apology for lacking understanding of how long it takes to rebuild from where we were or an apology for purporting to speak for people that you have, in all probability, never spoken to? If what you say is true why would NC & ML have stated publicly that the plan was a three year one - with a further two year option in Pardew's case? I deal in reality & what has been proven to be said - I'm absolutely, without question certain that ML & NC would have been the first to say right from the outset that there is a huge amount of hard work to be done...not rocket science is it? Hopefully their take on reality is more measured & less governed by personal agendas.

Said the man behind the PC? Seriously (& I'm only half way through this thread & too bored & irritated to read the rest) Look where we have come from...in the summer we very nearly didn't have a club at all - at the start of the season we were on minus ten & without someone taking hold & turning the mentality of accepting failure top win around we were facing relegation once more. The new regime have come in & appointed someone with a proven record of getting teams out of lower divisions, have given him money to spend, time to rebuild & an ambitious but achievable target that took in to account the starting point given the recent history & what he had to work with. We now stand mid-table...not too big a threat of relegation & an increasingly outside chance of the play-offs (that has always been a long shot but the hope is still there). We are 90 minutes away from Wembley (you can only play in the competitions that you are allowed to enter), in the fifth round of the FA Cup (as a third tier team) but more than this..... We have a team, a team that I am watching with a smile on my face -a team that I look forward to watching whenever I can, a team that has it's ups & downs like most others but is going in the right direction both in footballing terms & upwardly from the start of the season. At the moment & for the forseeable future I think we have the right people both in ownership & management of the club. We have the right quality of players to be blended in to a formidable L1 & Championship contender. To me - this is fantastic progress from where we started - to bleat the negatives is to lack understanding of where we were & how football works. In Markus Liebherr we have been unbelievably fortunate - but so has he! The combination will see us back in the top flight within the timescale he has laid out. Please - to the detractors - take a long hard look...try doing it with the perspective of where we might have been as well as where we are going to be...this means viewing the 'now' as well-advanced work in progress!

Ah AFC Southsea Tesco Travelodge Hockey Bowl Hall FC then. HMRC will get their money both ways...if indeed what you say is true about income for this season a proportion would be available for their payment & as one of two or maybe three petitioners for the winding up they would be some way up the queue I would imagine. The problem for your sad little franchise is that they have 'guaranteed', as you put it, payments, schedules of payments, end of month promises & they have not been honoured...this is the end of the line hearing. Why on earth would they believe anything that was said? It appears there are no filed accounts for even prospective owners to view (although were you thinking of owning PFC it's hard to imagine that reading would be listed as one of your skills!!) The only thing, I suspect, that will allow a continuation of business beyond Wednesday is hard cash...it's difficult to see, even though you appear to have finally & by default found an Arab who actually has (or had?) money, why he'd consider ****ing it further down the drain that leads to the cesspit that is your club...yep, small 'c' intentional. Roll on next week...it's been fun!

Not strictly the case - PFC is a limited company..or was-maybe even that has changed - but if so then the directors (unless they have signed director guarantees) are not personally responsible for the debt. They can be held accountable, however, for mismanagement &/or fraudulent trading of the company which is where they do become personally liable. The other part of the equation is pertaining to the contract exchanged between buyer & seller. This can - within the law - exclude certain liabilities from the purchaser but those liabilities woul have to be legally accountable to a specific person or people from within the pool of former directors...it couldn't be assigned to another company, for instance, as that could then go bust leaving the liability unsatisfied & the creditors still unpaid. This is all my reading of it & I'm happy to be corrected by someone who has more relevant knowledge...I run a reasonable sized company but we pay our bills, taxes etc so have no specialist knowledge but to my mind the ownership is irrelevant. If the company cannot meet it's statutory requirement to pay it's tax or any other debts then it will go in to administration or bankrupt. It is illegal to continue trading when the company (represented in the case of a limited company by it's directors) to knowingly continue to trade when there is no chance of the creditors receiving their due payment. To my mind PFC have been in this position for a number of months & I cannot see how a winding up order wouldn't be instituted immediately on Wednesday - remembering that this is the end of the process to collect the owed tax & not the start. Dubai Phil (I think) put his finger on it when he said that they have tried every slippery trick in the book to delay & stall the payments (I'm sure small companies have gone out of business &/or suffered by not being paid in the PO area) but hopefully the 10th February should be the day of reckoning. The HMRC have a duty way beyond sentiment to collect tax & I hope they don't shirk it next Wednesday.

I think you'll find that if you win a tenner you'll be treated like a sheik...oh now wait though....

I think he means rent-a-crowd...that's a good percentage of their average attendance - I just didn't realise they were paid to be there.

Crappy club! Apologies if this has been linked but even massage boy's wife is not as deluded (about the club anyway!) as some down the road! Tzofit Grant, who is a colourful television presenter in the couple's native Israel, insisted that she was "not mad" at his visit to the "massage parlour", adding: "He can do whatever he likes with his body." As The Daily Telegraph disclosed yesterday, Mr Grant, 54, may be questioned as a witness by police as part of an ongoing investigation into the brothel, on an industrial unit near Portsmouth's training ground in Eastleigh, Hants. Grant, 45, said her husband's visit was entirely innocent, and she had encouraged him to have massages to relieve aches and tension in the past. "I don't understand all the fuss," said Mrs Grant, speaking from Tel Aviv. "Avram loves massages, also Australian massages and Japanese massages, as well as having massages from Thai women. "I swear on my children's lives that I am not mad at him. If I am mad, it is because he does not get massages every day. He's the manager of Portsmouth. Do you know how tough that is? He's a great manager stuck in a crappy team. He works so hard, he needs two massages a day, and from two women, not one." Portsmouth are currently bottom of the Premier League and suffering a financial crisis which yesterday saw ownership of the club change hands for the fourth time this season.

Or even as funny as your predicament:D

Sorry....you have an impersonator!

Sad that they had to put the *****y little bit about the Echo row at the end - I must check for a common ownership link. The Echo for me is just something I used to deliver...used to be, has been...just about sums it up!

Yoda may have a bad back but his front is just horrific. Mind you he fits in with the locals....

Don't they scream after you shoot?

That's 48 million to start from scratch with zero....if the 'golden share' has been removed there is no guaranteed league place ergo no fixtures so no players. Aside from the usual mode of transport behind the car & a kick about on Southsea Common everything else would need putting in to place - AFC Skatesgob looks more & more a reality!

And, unusually in this farce, one with money! Albeit his only interest is getting paid what he owes - my guess is that short-term, high value loans as quoted would be at a very high APR so whether 17 million or 20 you are talking tens of thousands per day in interest alone so 17 wouldn't take long to become 20 if you follow. I still think that there is little chance of there being anything to have at the end of the day....I still can't work out how he can make himself/his company a preferred creditor over all the others who are owed millions - nor necessarily why he would pay the HMRC debt if his charge was originally against the 'assets' which would appear to have a negative value?

I love the 'massive blow for Po*pey' line ---sheer Sun tat but oh so funny being as it's them! :-)

I think you may be misunderstanding the concept of caravan dweller.....& the great unwashed?!

Brilliant!