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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Chin Strain

Chin Strain

Posted
Posted
Option 5, preparing to liquidate the 'asset' before it burns more cash. Chinny and Gaydaboy have their security already. Why would Chinny pay £12m per annum to collect at most £8m for next two years minus football debt?

 

As it stands I truly believe the club is worth more to him dead than alive.

 

I agree. I think if he could find a mug to pay him a pile of cash up front for the club, he'd take it and get shot of it once and for all. I can't see why he would want to step in as 'owner' again though. That would be madness.

pedg

pedg

Posted
Posted

Suspect given the financial arguments against buying them there appear to be only a few reasons why someone would.

 

1) Illegal activity such as money laundering were you accept less money out than you put in.

 

2) Being a fan such as Brian Howe where you are more likely to let your heart rule your head.

 

Think 1 may be drained dry so I would go for 2 as their only option.

krissyboy31

krissyboy31

Posted
Posted
It's incredible how they have let themselves get back into this problem...Whatever happened with 'learn from your mistakes'?
You're falling into the same trap the football authorities have by not distinguishing between accidental and deliberate acts.
dubai_phil

dubai_phil

Posted
Posted
520f4726-bc30-f166.jpg

 

I would imagine the Inland Revenue will probably resume legal action against the club.

 

I really only have one comment,

 

Why is it a FIGHT?

 

Just that headline alone.

 

It is NOT a negotiation you morons, it is a LEGAL RESPONSILITY.

 

You're not having a scrap outside a nightclub for it.

los_saint

los_saint

Posted
Posted
Exactly. My wanting them punished due to rivalry ended years ago. Now it's 90% as a taxpayer and 10% as a football fan tired of seeing them set our game back years. This club in its current form must die, now.

 

I'd have far more respect for their fans and wish them well if they'd already got AFC Pompey going. Stupid thing is, with a hardcore 8,000 fans or so they'd do well quickly and no doubt enjoy rising through the leagues. Would finally put an end to all the corruption and mess of recent years. Any spirit their club had died long ago, I've no idea what they're trying to save now.

 

Great post.

positivepete

positivepete

Posted
Posted
Heh, some fans complaining that Andronikou should have known what was going on with Pompey not paying tax...

 

The two companies might be so linked that the administrator uses 'CSI' and 'Pompey' interchangably, but Pompey the football club technically aren't in administration. Yet. So it was entirely down to them, and entirely their fault that they didn't pay the tax.

 

As for administration not being on the cards, of course it's not. They haven't even started paying the last CVA yet, no court in the land would grant the protection of a CVA under those conditions, it'll be liquidation.

 

Endgame now, barring a last minute billionaire coming to the rescue for them and immediately paying everything off.

 

It surely has to be liquidation, you can only go into administration if you are a going concern with cashflow problems and protection from your existing creditors will enable you to survive. Presumably that is why AA is using the language that he is. No way are they a going concern, and as administrator for CSI it is his duty to get the £10.8 million back for the creditors of CSI, not to extend the life of PFC by not seeking repayment of the loan. This is where the involvement of Chinney and his liens on both companies becomes very messy.

sussexsaint

sussexsaint

Posted
Posted
I really only have one comment,

 

Why is it a FIGHT?

 

Just that headline alone.

 

It is NOT a negotiation you morons, it is a LEGAL RESPONSILITY.

 

You're not having a scrap outside a nightclub for it.

 

It's this sort of b ollocks that really ****es me off, it makes the cheating scum out to be fighting some sort of noble fight. I pay my taxes because it's the right thing to do and I bloody well have to. They cheat and lie and effectively steal from every rit minded person in this country. It has gone way beyond a football rivalry this is wrong on so many levels. If anyone is relegated at the expense of them this season it will be a travesty.

BigShadow

BigShadow

Posted
Posted
520f4726-bc30-f166.jpg

 

I would imagine the Inland Revenue will probably resume legal action against the club.

 

This is a difficult one for HMRC - if they force administration - they not only risk the £1.6m owed now, but also the £6m due on the never, never under the CVA. Chances are they will never see either getting paid, but might cause them to think twice before pulling the trigger.

 

As for the Football League - WAKE UP!!!

Chin Strain

Chin Strain

Posted
Posted
This is a difficult one for HMRC - if they force administration - they not only risk the £1.6m owed now, but also the £6m due on the never, never under the CVA. Chances are they will never see either getting paid, but might cause them to think twice before pulling the trigger.

 

As for the Football League - WAKE UP!!!

 

They don't care about that. It's about sending a message to the rest of football. £7.6m is small beer to them, and if it drives home the message to other clubs / companies that they pay their tax, and they pay their tax first, it's a loss well worth writing off.

S-Clarke

S-Clarke

Posted
Posted
When this thread finally comes to an end, it would be fitting if Fitzhugh Fella could write a eulogy as the final post

 

FF should publish a book on this when it's all over! I reckon it'll be a best seller...

saintmatt

saintmatt

Posted
Posted
I really only have one comment,

 

Why is it a FIGHT?

 

Just that headline alone.

 

It is NOT a negotiation you morons, it is a LEGAL RESPONSILITY.

 

You're not having a scrap outside a nightclub for it.

 

Completely agree, poor form from the local media to encourage such an attitude. I hate to think how much that "club" have taken from the public purse, I don't think it's too sensationalist to emphasise that this is money which could have been put toward hospitals, emergency services etc and perhaps saved one or two more lives.

pfc123

pfc123

Posted
Posted
Falcon, now where have we heard that name before........Hahaha!

 

33

Mick2468

Saturday, January 21, 2012 at 10:11 AM

Apparently the Private Equity group is holger Heims heading up Falcon Equity with Al Fahim. http:fansonline.netportsmouthmbview.php?id=401439

 

Holger Heims. Check.....

dronskisaint

dronskisaint

Posted
Posted
520f4726-bc30-f166.jpg

 

I would imagine the Inland Revenue will probably resume legal action against the club.

 

 

And a bit of Bob Dylan for one of the most:lol: deluded visitors of the skate persuasion -

 

'...and it's all over now Barbie blue':lol:

Colinjb

Colinjb

Posted
Posted
520f4726-bc30-f166.jpg

 

I would imagine the Inland Revenue will probably resume legal action against the club.

 

Even the journalists and attitude of the local media is deluded.

 

A Tax FIGHT!? Tax is not an optional extra, it is a fact of existence in the United Kingdom.

 

F**king vermin, parasitic vermin, the lot of them.

dubai_phil

dubai_phil

Posted
Posted

3

Mick2468

Saturday, January 21, 2012 at 10:11 AM

Apparently the Private Equity group is holger Heims heading up Falcon Equity with Al Fahim. http:fansonline.netportsmouthmbview.php?id=401439

 

Page 200 and something maybe?

 

Falcon Investments is a vehicle for Al Fahim's mate. Surely the FL cannot be so stupid to let Bin Trump try and get his mate back iinto football (only other person in history to fail FAPPT)

 

Oh well it's the FL so yeah - good luck to them all then, they'll fit in well - most people in his mate's home country believe he stole his wealth so par for the course.

dubai_phil

dubai_phil

Posted
Posted

Whilst we are paused in this strange Limbo Land between Deja Vu and Oh, well, that was a surprise. Let us spare a thought for one of the mightiest brains on this thread.

 

The Analyst who has proven with his insight time and again to have had his finger on the pulse. In fact he has been there to assure us ever since the start of this Season that

 

poopey will not be able to engage in any financial mismanagement because they are being watched so closely by the FL and that we are deluded to keep trying to point out that the mathematics did not add up.

 

The Troll with the train sets, got it nailed again from his contact at the club whom he sees socially every week.

 

 

Oh and before I go cook dinner (Salt & Pepper Squid yum yum unusually for me this week, served with a side dish of Toast

 

 

Mero.

 

Seriously

 

My Sympathies mate

Channon's Sideburns

Channon's Sideburns

Posted
Posted

He's just layed into the Snooze..

 

Also admitted they don't have the funds to pay HMRC...and that they're dependent on funding from CSI...

 

He's bluffing...big time.

 

Cala pulling out 'inconcequential' - 'not sure he did pull out his bid'....

 

'Other interested parties'

 

Full of Sh1t.

Katalinic

Katalinic

Posted
Posted (edited)

I would have been interested to see his face and body language during that interview - sounded as though he was squirming big time. Made me laugh that he had a dig at The News - what for? err reporting the facts.

 

If the FA can't see that CSI and the Skates are inextricably linked after this then there is something very very wrong going on.

Edited by Katalinic
Waterside.saint

Waterside.saint

Posted
Posted
I would have been interested to see his face and body language during that interview - sounded as though he was squirming big time. Made me laugh that he had a dig at The News - what for? err reporting the facts.

If the FA can't see that CSI and the Skates are inextricably linked after this then there is something very very wrong going on.

 

I would love to know what 'package' they offered Lumpett to prize him out of the FA. The trouble about selling your soul is that sooner or later you have to face the consequences

Channon's Sideburns

Channon's Sideburns

Posted
Posted

Big LOL at Solent for encouraging texts and tweets.

 

Then not reading any out which criticise Pompey.

 

Notice that Loz Herdman almost quoted the 'tax fight' headline word for word - yes that's right Loz, those tax payments which everyone in this country has to make by law.

 

'Plucky Pompey' still exist in the eyes of some.

redkeith

redkeith

Posted
Posted

The problem the only assets that the Skates have as a club are the player registrations, the golden share and the parachute payments. If they get liquidated, then there is no way to use these assets to pay of the creditors, so they may limp on.

 

However, it is coming to the point where the secured creditors are owed more than the remaining parachute payments. Also the player contracts are probably more of a liability than the transfer value of the squad.

 

All that is keeping them alive is the distant hope that the CVA will get some of the parachute payments, so on that basis I think they will be there until the summer of 2014.

ooh it's a corner

ooh it's a corner

Posted
Posted

Two things I would like to see by 10am Monday morning.

 

The Football League Board to announce a meeting for this coming week to discuss PFC's relationship with CSI and whether or not points deductions are now appropriate.

 

More importantly, I want HMRC to phone Lampett and remind him that if he is continuing to trade, whilst acknowledging that there is no cash to pay the bills, then it is his house that will be sold and put in the pot with other company assets, for the benefit of all creditors....

latter day saint

latter day saint

Posted
Posted

wot better way to wind down after a crap day at work than to read the last few pages!

 

23997_422006543312_779353312_4901715_5797646_n.jpg

any chance the FL will make an announcement Monday re points ?

with Saggy Harry's court case starting, news of a points penalty would be the icing on the cake :lol:

pedg

pedg

Posted
Posted
Two things I would like to see by 10am Monday morning.

 

The Football League Board to announce a meeting for this coming week to discuss PFC's relationship with CSI and whether or not points deductions are now appropriate.

 

More importantly, I want HMRC to phone Lampett and remind him that if he is continuing to trade, whilst acknowledging that there is no cash to pay the bills, then it is his house that will be sold and put in the pot with other company assets, for the benefit of all creditors....

 

Thing is they do apparently have some money as AA said (Okay not the most reliable witness) that salaries would be paid this month. That means they are paying this months salaries ahead of 2 months worth of back taxes. Surely HRMC should attempt to get at that money now before it is paid to the players?

dubai_phil

dubai_phil

Posted
Posted

Someone with a UK IP address and knows Audioboo should send that snippet to the FL (think their email address has been posted on here about a thousand times)

 

Public annoucement that the company cannot pay creditors

 

HOW many of their players have they placed on "The Transfer List"? to raise funds to convert Assets into Cash? None

 

So they have NO INTENTION of attempting to trade legally

Katalinic

Katalinic

Posted
Posted
Two things I would like to see by 10am Monday morning.

 

The Football League Board to announce a meeting for this coming week to discuss PFC's relationship with CSI and whether or not points deductions are now appropriate.

 

More importantly, I want HMRC to phone Lampett and remind him that if he is continuing to trade, whilst acknowledging that there is no cash to pay the bills, then it is his house that will be sold and put in the pot with other company assets, for the benefit of all creditors....

 

Perhaps that is why Akers quit a week ago? Illegal to continue to trade whilst insolvent......

miserableoldgit

miserableoldgit

Posted
Posted
Someone with a UK IP address and knows Audioboo should send that snippet to the FL (think their email address has been posted on here about a thousand times)

 

Public annoucement that the company cannot pay creditors

 

HOW many of their players have they placed on "The Transfer List"? to raise funds to convert Assets into Cash? None

 

So they have NO INTENTION of attempting to trade legally

 

I have found that this works quite well enquiries@football-league.co.uk

Wurzel

Wurzel

Posted
Posted

Let's not count our chickens. FA Cup week again next week. A good cup run with a couple of televised games might bring in enough to tide them over till the end of the season.

 

 

 

Oh !

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