Goalie66

Wonderful article exceptionally articulate and encapsulates my feelings and thoughts entirely. I am sure most on this board will agree with your analysis I also think that the EPL also have a lot to answer for creating the environment for this crooked greed that is epitomised by the criminals that are running PCFC.

In a hotel... for a game that for many of your players is nearer than Fratton Park...another example of expense saving in hard times.

Agree it is tountamount to a massive two fingers to the Court that they were so lucky to escape from this Wednesday and two fimngers to every one else that says it would be awful to see Pompey disappear. No it bloody would't !!

Just like our government did with the banks !!

Surely the EPL will look mighty stupid if PCFC are found out to have been trading while insolvent. I suspect that like all these mystery investors they will wait until after the report is submitted to the courts to verify their guilt one way or the other. Even then , if they do forward that payment, other teams in the relegation zone would have a very strong argument for suing the EPL , if for instance, they weren subsequently relegated. As we all know it is against the FA rules for a club to play while insolvent. If Saints loose on Saturday, IMO they would have a very good case to the FA that PCFC are in breach of FA Cup rules for the same reason.

taken from the Pompey message board.. Now then is an interesting thought ? re: re: re: Pompey vs Scum Predictions ... Posts: 763 Hall of Fame 2 - 2 and we win the replay 2 - 0 assuming we're still here! What would happen if we win and draw Cardiff in the next round and both of us go tits up beforehand?

Yes on both questions

Yes he could. Invest £17million, convert that loan to shares put them into admin and be bottom of the pile on any scraps coming out of admin. Good idea !!!

Owners (shareholders) are not liable for the running of a company. Directors are. Mind you shareholders appoint Directors.

Yep but he has got two choices. Invest and pay of debts, thereby incurring more personal debt or as a creditor force the company in which he is a major shareholder into admin. He might 10p in the £ on his debt...Oh at that would make him look wondeful in the EPL fit and proper test wouldn't it LOL

They cannot go into Admin with a Winding Up order pending , unless a creditor forces them too which is unlikely with the WUO pending !!!!.

Except they never put the company into Voluntary Administration so that argument may be flawed

So the net outcome of Pompey's strategy whilst knowing trading while insolvent. 1. Get wound up next week when they could have gone into voluntary Admin 2.Paid the tax bill and avoided the WU order 3.Settled out of court but insisted on the hearing 4. The court stating that they are insolvent that leaves them liable for criminal prosection of the Directors 5. ALL debts to be paid inclusing those owed to HMRC by next week 6. An independent audit that is likely to reveal more illegal trading 6. And thier bluff called on phantom prophets of profit They have been well advised !!!

Dubai Phil did you send these to Nial Quinn and Nicola Cortese? Damm good idea?

He was over near the opposite byline (right back position) and the incident on the edge of the penalty area so more than 5 yards!! In any event, I admire passion and comittment but not stupidity. The ref should have sent him off as he pushed their player and was IMO dead lucky to stay on the pitch. By the way I thought Lambert was outstanding.Real skill and worked his socks off

I think he converted his debt to equity and therefore is not a creditor.

Great win and looking forward going to Wembley. Disciplined performance by all except one player....Thomas. Got a silly initial yellow card,perhaps undeserved, but could have cost us the game on the night when he ran sixty yards to blatantly push their player(who got booked) for a handdbags incident. He should have got a second yellow and was very lucky to stay on the pitch. Pardew wisely substituted him as clearly he had "lost" it.

Just wander how HMRC work until 9pm ? I suspect their Lawyers are a simple instruction....Pay up Pompey Pompey pay up

In admin someone will have to meet operational cash flow until they are bought.In PCFC case that will be wages and ......yes tax and NI.Say about £4 million a month. The players cannot be sold as it is outside the transfer window. They could get voluntary and mutual cessation of any contract. In liquidation all staff are free to work wherver they like as the company and its obligations cease to exist other than the liquidator getting whjat he can(in the case of PCFC) for any fixed assets. Hope that helps

No not necessarily. Admin is normally for businesses that are or can sold as going concerns but creditors take a % of whatever the administrator can recover. Liquidation is where there is no liklihood of the business being sold as a going concern and a court appointed liqidator winds up the business to avoid future debt as well as possibly investigating the reasons for the insolvency that could affect personal liabilities of the Directors

I would assume that their tax bill is money owed from the end of September. They would have had another VAT demand to be paid by the end of January . Notwithstanding monthly NIC. so I would bet you can double the true figure of what they owe. Hence I believe they will go the wall on Wednesday. Ironically my company has just got a contract to buy companies aboit to go into Administraton/Liquidation ..fortunately not in the entertainment business !!!

I would say that it is 95% odds that they will be wound up.

They would move his picture from an Art Gallery to a museum...Footbal Hall of Shame !!!

So that only leaves the roll of the dice Wednesday or to totally mix my metaphors the cards are somehat stacked against them.. Bye bye to them and Bye for us on Saturday then.

Yep