Guided Missile

The Registrar made it clear that she suspects that the club is insolvent, ie has no assets that can be used to pay the unsecured creditors, both past, current and future. If the SoA confirms this, I am having a problem working out what point there is in placing the club into administration, as continuing to trade whilst in administration will just make the creditors position worse. IMO if it gets to Monday and the SoA is what we think, with no new provable investment in the meantime, Portsmouth Football Club will be wound up...

Just had an interesting chat with a corporate sales executive at Wembley. They are selling advertising space in the Wembley program to corporate sponsors. He told me that Saints have just applied for an extra allocation of tickets, taking our total to 55,000! Carlisle have sold 17,000 and he expects them to sell 20-25,000 in total. Told me they were a little disappointed that Leeds didn't get through, as he thought that they would have sold Wembley out and tickets would have been tougher to get. 55,000 fans? WTF...

Arkadi Gaydamaks wealth came from, amongst other crimes, the illegal sale of 170,000 landmines to Angola. It is for this reason that his bank accounts were frozen in Israel and Russia. £17M from these accounts were paid to Chanrai, by way of an uncontested court order, regarding an investment Gaydamak was meant to make in one of Chanrai's businesses. About the same sum that was reinvested in Portsmouth Football Club. This photo that I don't apologise for posting again shows the damage that landmines cause in Angola. Since this picture, the European Union spent $1.5M on the destruction of Angola's landmine stocks. Look carefully at this. This is how the purchase of Fratton Park was indirectly funded. I hope that the courts in this country invalidate this asset transfer and investigate these crooks. Dirty, dirty money...

Piers Morgan apologises to Pompey fans: And here's how to make a real apology A lot of Portsmouth fans have written to me recently, demanding to know what I have to say about what’s happened to their club after I confidently told them a few months ago not to worry because their new owner, and casual acquaintance of mine, Dubai tycoon Sulaiman Al Fahim, was absolutely loaded. I’ve been watching carefully as events have unfurled down on the south coast and it’s now absolutely clear to me now that I was talking out of my over-fed, gullible, showbiz derriere. Fahim didn’t have the cash I thought he had or the cash he promised he had. Because if he did, he would have spent it. Taken in: Sulaiman Al Fahim pulled the wool over Piers' eyes So I humbly, and sincerely, apologise to all Portsmouth supporters for falsely reassuring you. And I hope, and pray, that something or someone turns up to save your great, proud, historical club from extinction. Read more: http://www.dailymail.co.uk/sport/article-1252513/Piers-Morgan-Tiger-Woods-Saying-sorry-easy-The-hard-bit-looking-like-mean-it.html#ixzz0gHskF3OH What a total cu** that man is. Yes mate, not the first time you've been taken in, is it? Most of our troops remember the last time...

Can someone explain how a group of keen Pompey fans are thinking carefully about accepting 10% of Portsmouth Football Club FOR NOTHING and yet a group of South Africans are apparently keen to buy the other 90%. F uck me, they can't even give the club away to their own supporters....

This is legalise for covering his arse as it is obvious they are, or have been, trading whilst insolvent.

Yeah, I've just recieved the next quiz: Who discovered America? Christopher Robin Christopher Columbus I DON'T KNOW!!!!!!!!!!!!!!!!!!!!!! George Washington George Lucas Bob the Builder How many fingers do you have? I don't know how to count. 7 infinite (this IS NOT the correct answer) TEN Q What continent is ASIA in? Europe Asia ? Greenland Australia Africa Which one of these is an animal? Sock Goggles pavement Sour Cream France Yo' momma If Jack has 4 apples, and Dan has 7 apples.......... omg just click the correct answer. DON'T SELECT THIS ANSWER THIS IS THE CORRECT ANSWER Tofu this is the wrong answer don't choose me I am incorrect Which one doesn't rhyme with "STORE" Gore More Lore Orange Door Score What is a "train" You beat eggs with it You chop down trees with it A vehicle that runs along a set track Pork All of the above None of the above If you live in Australia, where do you live? Austria Australia Austin Phoenix Mars George Lucas Which one of these is good for your body? AIDS Rusty pointy things Ecstacy pills Blood BLOOOD!!!!!!! Rabies Toxic Waste What is plural for "FUNGUS" Shrooms Bacon Fungi Protistas Funguses Fungusususes What happens when you jab a chainsaw into yourself? Pigs will flyyyyeeeeeeeeeeee!!!!! it will bounce off and you will find out u r superman You will dodge maiming yourself in the nic of time You will bleed to death The boogie man will grow a cornfield on your face People will laugh at you. What are you? Human Fish A Pompey Fan I don't know/forgot You worst nightmare What is 3+3? 3 33 K % ((1+5)*6)/6 L337? What color was i thinking about when i made this quiz? Hint: RED blue purple teal red siamese german What was Hitler's first name? Warksov Jean Hail Natzi Adolf Rudolf How many Q's are there in this sentence? none 1 2 3 4 TRICK QUESTION!!!!!!!! THERE IS NO ANSWER!!!!!! Where did the French revolution take place? Germany Mercury Stationary France Prance Dance Over indulgnce of Alchohol will cause Sugar rushes Drunkeness Implosion of brain Common Cold this is the wrong answer this is also the wrong answer What is "Extrinsic" I used a search engine to find out. I used dictionary.com I used a different source to find out I used a dictionary to find out I asked someone I actually know what that word means Which is not found in the English alphabet? ����� A E I O U What is the Netherlands? The underworld The underwear Peurto Rico Holland Persia Germany LAST QUESTION!!!!!! how many questions are there? 22 23 24 25 26

How about this site encouraging Saints fans to join the Pompey Trust? At a fiver a go, it is a real chance to influence the direction of their club and who knows? With our support, we could outnumber their fans... Website here.

Very likely that his lawyers have told him that he could be liable under insolvency laws.

Al Fahim resigns and gives his 10% shareholding to the Portsmouth Trust. On SSN now...

An administrator is personally liable for the activities of the company they administer and they are thus very cautious about what they take on. They are also very expensive and get their fees out of the realisable assets of the company, in the same way as a leech feeds on the blood of a mammal. When the corpse has already been bled dry, the financial attraction and risk/reward is zero...i.e. they wouldn't touch Pompey with a bargepole.

Phil, to solve this particular puzzle, you have to think like a crook...

Just had Phill Hall representing Chanrai on ssn sounding a word of caution that on Friday they had not been shown proof of funds and wanting to "put things into perspective". Also categorically stated that there would be a PFC if the deal fell through and if it came to it Chanrai would call on some of his associates.

Just a thought. I am assuming that any money that comes from South Africa is likely to be obtained from mineral wealth. What if there is a deal with Arkadi Gaydamak, whereby he "uses" his contacts in Angola (his likely bolthole from the Israeli and Russian Mafia and the French and Israeli courts) to obtain mining licenses from the Angolan government for the South Africans? Pompey again serves its money laundering function and via his son and Chanrai, he can gain access to funds that he is desperate for, due to the freezing of his accounts in Russia and Israel. This is a more likely scenario than a South African company investing in Portsmouth Football Club, unless they are using Stevie Wonder to read the financials...

In my opinion, the "potential" sale of the club at the moment, is simply a device to assist Storrey when he is taken to court for his running of the club. It will help him claim that with the possible sale, solving all of the financial issues surrounding the company, it wasn't trading while insolvent as there was a prospect of securing funds. I think he will eventually be barred from being a Director of any company for a long time and the March 1st hearing is the start of many such episodes over the coming months involving these grubby characters, with a number heading for the hills to escape justice...

My posts above were cut and pasted from the UK Governments Insolvency Website. They confirm that you and Portsmouth are wrong, as whatever the value of the asset, the sum realised, whether a fair value or not, may benefit one particular creditor over another, i.e. Chanrai, in this case. I would have thought that whether he is a secured or preferred creditor, or not and whether he ranks ahead of HMRC, is a question for the court, not the board of a bankrupt football club to decide. IF the court has not approved the disposal of Fratton Park, I think the transaction will be voided until a receiver/liquidator is appointed and whoever approved the sale of Fratton Park on behalf of the club could be in the sh !t...

The invalidation of dispositions of an insolvent’s assets after the date of presentation of a winding-up petition or a petition for bankruptcy is designed to prevent the directors of a company or the bankrupt, when insolvency proceedings are imminent, from disposing of the assets to the prejudice of the creditors and to preserve those assets for the benefit of the general body of creditors.

The general rule is that any transaction entered into by the company after the commencement of a winding up is void unless the transaction is authorised or validated by the court.

A broadcaster for the ITV Meridian liquidated his ailing club to spare it from "terrible pain". Police are investigating after the Meridian broadcaster said he had a pact with the club to act if its suffering increased. During a documentary on the death of the Premier League, Fred Dinenage, 70, said: "I killed a club once. It'd been my love and it got relegated. I picked up the phone and applied for a winding up order, until it was dead. No regrets." Mr Dinenage said he liquidated his former love while he was in a third rate regional news show - which he did not name - after accountants told him that there was nothing further that could be done for club. "I said to the accountant: 'Leave me… just for a bit,' and he went away. "I picked up the phone and persued the winding up order until it was dead. "The accountant came back and I said: 'It's gone.' Nothing more was ever said. "When you love a football club, it is difficult to see it suffer. "

Finally:

I must admit, I was unaware he'd moved to our fair city, according to this report. I can't believe he'd feels he can't visit West Quay, anymore...

On sale in the Pompey shop : Price: £0.35 (Was: £2.50 You Save: £2.15)