Waterside.saint Posted 7 June, 2012 Posted 7 June, 2012 This is better than sex You'd better qualify that. Sex with whom, for example?
pedg Posted 7 June, 2012 Posted 7 June, 2012 This is better than sex Well I guess it probably involves the longest ever build up to a climax.
trousers Posted 7 June, 2012 Posted 7 June, 2012 You'd better qualify that. Sex with whom, for example? I'll start....Bobby Davro
Torres Posted 7 June, 2012 Posted 7 June, 2012 You'd better qualify that. Sex with whom, for example? I'll start....Bobby Davro Avram Grant. Especially when he doesn't pay up, then promises you 20pence in the pound, over 5 years, less his expenses, and then gives you nothing at all.
saintjay77 Posted 7 June, 2012 Posted 7 June, 2012 So when is this proposed CVA coming out then? I thought it was due today???
Winchester Red Posted 7 June, 2012 Posted 7 June, 2012 So when is this proposed CVA coming out then? I thought it was due today??? Due today, yes - but you know what those pesky cards from the post office say, 'There is insufficient postage paid - Please collect from your local Post office. A £1 fee will be added . Please leave 24hours before collecting' So nobody knows until tomorrow
pedg Posted 7 June, 2012 Posted 7 June, 2012 So when is this proposed CVA coming out then? I thought it was due today??? Being "sent out" today. For all we know could be going to everyone by second class post.
trousers Posted 7 June, 2012 Posted 7 June, 2012 Being "sent out" today. For all we know could be going to everyone by second class post. Not far off the mark....they're actually being sent by pigeon...
Minty Posted 7 June, 2012 Posted 7 June, 2012 Being "sent out" today. For all we know could be going to everyone by second class post. Well if it's CityLink, they may never arrive.
saintjay77 Posted 7 June, 2012 Posted 7 June, 2012 Ah I see. I was expecting an update from birch online or somit. Makes sense to officially notify the creditors first though. So maybe tomorrow we will start to find out about the next shafting.
Truckasaurus Posted 7 June, 2012 Posted 7 June, 2012 It's liquidation isn't it ? Must be,no other way. I've been banging this drum for a while now,come back from holiday and chinny can't afford the wages. No surprise to me at all. Smug mode God bless Marcus Liebhurr
Waterside.saint Posted 7 June, 2012 Posted 7 June, 2012 It's liquidation isn't it ? Must be,no other way. I've been banging this drum for a while now,come back from holiday and chinny can't afford the wages. No surprise to me at all. Smug mode God bless Marcus Liebhurr Indeed. And while we're about it, lets not forget other actors who have played significant roles in helping to bring about the closing acts of this Wagnerian spectacle. The following will forever have a special place in my heart: HMRC DL TBH
Ken Tone Posted 7 June, 2012 Posted 7 June, 2012 Got a card from the Royal Mail this morning saying 'unpaid postage'. Queued up for 20 minutes to see what it was, had to pay £15 postage costs and when I opened the box it was Tal Ben Haim. WTF am I going to do with a 6'2 Israeli? I can barely feed myself. Don't worry. I think you'll find he is quite used to feeding himself without your help. In fact, show him a trough and he'll have his snout in it before you can say FCR.
pedg Posted 7 June, 2012 Posted 7 June, 2012 Wondering why no news today and then realised that tomorrow with the Euro's starting is obviously a much better day to try and bury bad news.
Amesbury Saint Posted 7 June, 2012 Posted 7 June, 2012 FIt's liquidation isn't it ? Must be,no other way. I've been banging this drum for a while now,come back from holiday and chinny can't afford the wages. No surprise to me at all. Smug mode God bless Marcus Liebhurr Can't see it myself. Football clubs don't get liquidated
BigShadow Posted 7 June, 2012 Posted 7 June, 2012 When the details of the CVA proposal become known, and we all finish laughing....the reality is it stands a good chance of getting approved by the creditors. It will be Xp in the £ on the never never or liquidation and will include verbiage along the lines of 'In the event of liquidation the administrators do not envisage any funds being available for distribution to unsecured creditors.' So.... 1. HMRC will vote against. 2. AA and CSI's £10m will presumably vote in favour. 3. Most other creditors have nothing to gain (other than personal satisfaction) by voting against. 4. Most local businesses will not want to be seen voting against and bring the club down. 5. Many of the smaller creditors simply do not bother voting on these CVA proposals when the sums are so small. So I am expecting the CVA to get accepted - which will leave the FL with an almighty headache about what to do about failed CVA1. I fully expect them to do nothing and claim the original CVA was renegotiated with the approval of creditors so technically it has not failed so no points penalty. Therefore, it all rests on the FCR and TBH/DL/Kanu and the rest of the higher earners. It has seemed for some time now that PFC's future seems to be dependent on reaching a deal with them. More public floggings to come.......
bristolsaint29 Posted 7 June, 2012 Posted 7 June, 2012 Indeed. And while we're about it, lets not forget other actors who have played significant roles in helping to bring about the closing acts of this Wagnerian spectacle. The following will forever have a special place in my heart: HMRC DL TBH Can we have a full casting list?
OldNick Posted 7 June, 2012 Posted 7 June, 2012 When the details of the CVA proposal become known, and we all finish laughing....the reality is it stands a good chance of getting approved by the creditors. It will be Xp in the £ on the never never or liquidation and will include verbiage along the lines of 'In the event of liquidation the administrators do not envisage any funds being available for distribution to unsecured creditors.' So.... 1. HMRC will vote against. 2. AA and CSI's £10m will presumably vote in favour. 3. Most other creditors have nothing to gain (other than personal satisfaction) by voting against. 4. Most local businesses will not want to be seen voting against and bring the club down. 5. Many of the smaller creditors simply do not bother voting on these CVA proposals when the sums are so small. So I am expecting the CVA to get accepted - which will leave the FL with an almighty headache about what to do about failed CVA1. I fully expect them to do nothing and claim the original CVA was renegotiated with the approval of creditors so technically it has not failed so no points penalty. Therefore, it all rests on the FCR and TBH/DL/Kanu and the rest of the higher earners. It has seemed for some time now that PFC's future seems to be dependent on reaching a deal with them. More public floggings to come....... all that will happen, is yet again we will be frustrated with the lack of action by anyone with power. No points deductions, no penalties at all. It seems to me they can promise 40p in the pound to get a yes vote and then push it back and back with cleverly worded proviso's
anothersaintinsouthsea Posted 7 June, 2012 Posted 7 June, 2012 When the details of the CVA proposal become known, and we all finish laughing....the reality is it stands a good chance of getting approved by the creditors. It will be Xp in the £ on the never never or liquidation and will include verbiage along the lines of 'In the event of liquidation the administrators do not envisage any funds being available for distribution to unsecured creditors.' So.... 1. HMRC will vote against. 2. AA and CSI's £10m will presumably vote in favour. 3. Most other creditors have nothing to gain (other than personal satisfaction) by voting against. 4. Most local businesses will not want to be seen voting against and bring the club down. 5. Many of the smaller creditors simply do not bother voting on these CVA proposals when the sums are so small. So I am expecting the CVA to get accepted - which will leave the FL with an almighty headache about what to do about failed CVA1. I fully expect them to do nothing and claim the original CVA was renegotiated with the approval of creditors so technically it has not failed so no points penalty. Therefore, it all rests on the FCR and TBH/DL/Kanu and the rest of the higher earners. It has seemed for some time now that PFC's future seems to be dependent on reaching a deal with them. More public floggings to come....... You've not covered Baker Tilly and their £16.5m debt. Isn't it 75% required to carry the proposal. HMRC + Baker Tilly is way more than the 25% required to block so I guess it comes down to whether or not Baker Tilly will say 'non'.
Truckasaurus Posted 7 June, 2012 Posted 7 June, 2012 F Can't see it myself. Football clubs don't get liquidated New Brighton Tower 1901 Leeds City 1920 Aldershot 1992 Maidstone UTD 1992 poopey 2012 ???? Smug mode....again God bless Marcus Liebhurr
saint si Posted 7 June, 2012 Posted 7 June, 2012 You've not covered Baker Tilly and their £16.5m debt. Isn't it 75% required to carry the proposal. HMRC + Baker Tilly is way more than the 25% required to block so I guess it comes down to whether or not Baker Tilly will say 'non'. Baker Tilley and the creditors of CVA1 will hold the key to this. Even if CVA2 is voted through, there will surely be a challenge as to CVA1 becoming part of CVA2. If it weren't for the "form new company, transfer golden share, allow forensic investigation" stunt that AA pulled they would have voting rights equivalent to the original debt...
sussexsaint Posted 7 June, 2012 Posted 7 June, 2012 all that will happen, is yet again we will be frustrated with the lack of action by anyone with power. No points deductions, no penalties at all. It seems to me they can promise 40p in the pound to get a yes vote and then push it back and back with cleverly worded proviso's I'm afraid this will be the case and nothing else - and although 40p in the pound may be the inital offer god only knows what it will end up as
rallyboy Posted 7 June, 2012 Posted 7 June, 2012 whatever the detail of the CVA offer the creditors might as well just bend over behind a skip at Horton Heath and wait for Avram to shuffle up close with his club tracksuit trousers around his bony little ankles - the whole process will be just as degrading and unpleasant. Sadly I see CVA1 being shoe-horned into CVA2 which could then be forced through. That could mean that CVA1 hasn't technically failed, as the dim creditors will have approved the changes?... But on a cheerier note, this is all irrelevant if Birch cannot meet Chanrai's offer conditions - the wagebill has to plummet, players have to leave Without that his CVA offer is in trouble before it even gets voted on.
Ken Tone Posted 7 June, 2012 Posted 7 June, 2012 Anyway, Chanirai getting the club back ,with or without a CVA, is going to provide laughs for years to come, as he bleeds them dry.
Colinjb Posted 7 June, 2012 Posted 7 June, 2012 Anyway, Chanirai getting the club back ,with or without a CVA, is going to provide laughs for years to come, as he bleeds them dry. Ah asset stripping, a fate worse then liquidation. Sha-lala, la laa la-la la.
Gigersaint Posted 7 June, 2012 Posted 7 June, 2012 What would happen if Chainrai didn't now pass the FL FPPT? Would he still be able to invest or bail out the club with funds without a current owner, could he help by funding the Admin until a true buyer is found? Whole thing is so messy now, I wasn't sure how things could move forward.
BigShadow Posted 7 June, 2012 Posted 7 June, 2012 You've not covered Baker Tilly and their £16.5m debt. Isn't it 75% required to carry the proposal. HMRC + Baker Tilly is way more than the 25% required to block so I guess it comes down to whether or not Baker Tilly will say 'non'. Baker Tilly have to act on the instructions of the creditors they represent - HMRC was about £7.5m of the £16.5, so if the rest of the CVA1 mob accept then it will still get through. Anyone know if Baker Tilly have a block vote or if the creditors of CVA1 will vote individually?
pedg Posted 7 June, 2012 Posted 7 June, 2012 Baker Tilly have to act on the instructions of the creditors they represent - HMRC was about £7.5m of the £16.5, so if the rest of the CVA1 mob accept then it will still get through. Anyone know if Baker Tilly have a block vote or if the creditors of CVA1 will vote individually? It is listed as a debt to BT so I am fairly certain it is a block vote. It is also highly unlikely that BT will have the time or the inclination to contact all the other creditors to get them to help decide which way BT should vote.
Truckasaurus Posted 7 June, 2012 Posted 7 June, 2012 High wage earners are going nowhere whatever happens. £20,000 a week or go to another club on say £7,000 a week. You would have to be an idiot to do that. If it was going to happen it would have done so by now. Unless Trev has been sat in his office all this time spanking the monkey Ergo the wage bill remains £10,000,000 or thereabouts next year. The trust thingy is dead in the water. Why are these people are not putting all their efforts into plan B ? Why ? Chinny won't or cannot afford it. Liquidation my red and white sex kittens. God bless ya' all (and Marcus Liebhurr)
Matthew Le God Posted 7 June, 2012 Posted 7 June, 2012 God bless Marcus Liebhurr God bless ya' all (and Marcus Liebhurr) Markus Liebherr not Marcus Liebhurr
Amesbury Saint Posted 7 June, 2012 Posted 7 June, 2012 New Brighton Tower 1901 Leeds City 1920 Aldershot 1992 Maidstone UTD 1992 poopey 2012 ???? Smug mode....again God bless Marcus Liebhurr 4 clubs in 100 years. What is the total debt of football clubs?
sidthesquid Posted 7 June, 2012 Posted 7 June, 2012 New Brighton Tower 1901 Leeds City 1920 Aldershot 1992 Maidstone UTD 1992 poopey 2012 ???? Smug mode....again God bless Marcus Liebhurr Don't forget Accrington Stanley.
Saint J 77 Posted 7 June, 2012 Posted 7 June, 2012 That will leave the FL an almighty headache about what to do about failed CVA1. I fully expect them to do nothing and claim the original CVA was renegotiated with the approval of creditors so technically it has not failed so no points penalty.[/Quote] You've just given the Football league their answer to help the skates keep getting away with it there....sssh
latter day saint Posted 7 June, 2012 Posted 7 June, 2012 just seen that Kranjcar has gone to Dynamo Kiev for £7m. wonder how much the skates will get from that ? http://www1.skysports.com/football/news/12691/7799222/Kranjcar-completes-Kiev-switch
krissyboy31 Posted 7 June, 2012 Posted 7 June, 2012 Don't forget Accrington Stanley. And Chester City just 2 years ago.
TopGun Posted 7 June, 2012 Posted 7 June, 2012 I wonder whether there is a possible Plan C. Chinny to liquidate PFC and buy a struggling L1 or L2 club and relocate it to Fratton Park and selling the other club's ground for redevelopment.
pedg Posted 7 June, 2012 Posted 7 June, 2012 I wonder whether there is a possible Plan C. Chinny to liquidate PFC and buy a struggling L1 or L2 club and relocate it to Fratton Park and selling the other club's ground for redevelopment. Difficult to see how they keep the parachute payments in that scenario?
gaz Posted 7 June, 2012 Posted 7 June, 2012 I wonder whether there is a possible Plan C. Chinny to liquidate PFC and buy a struggling L1 or L2 club and relocate it to Fratton Park and selling the other club's ground for redevelopment. I mentioned that exact situation could work for PST a few pages back with Airdrieonians and Clydebank as an example. Havant and Waterlooville must be shaking in their boots for being a target.
TopGun Posted 7 June, 2012 Posted 7 June, 2012 (edited) Difficult to see how they keep the parachute payments in that scenario? Oh yes, that probably doesn't work unless he keeps Fratton Park via a liquidation and new club to sell on with little debt in the future (as well as assets of other club ground etc). It's so confusing! Edited 7 June, 2012 by TopGun
pedg Posted 7 June, 2012 Posted 7 June, 2012 Oh yes, that probably doesn't work unless he keeps Fratton Park via a liquidation and new club to sell on with little debt in the future (as well as assets of other club ground etc). It's so confusing! Thing is we have got to the point where the only things of any real value are the ground and the golden share. If anything you wonder if chainrai could do a MK Dons (yes I know rules have been tightened on this but what else are lawyers for) and sell the pompey golden share without the baggage of selling the full club with its players and their gold plated contracts.
St Jim Posted 7 June, 2012 Posted 7 June, 2012 (edited) Don't forget Accrington Stanley. Accrington Stanley..............who are they?? Edited 7 June, 2012 by St Jim
aintforever Posted 7 June, 2012 Posted 7 June, 2012 Difficult to see how they keep the parachute payments in that scenario? Doesn't the russian gun-runner get all the future parachutes, or was it just the last lot?
Crab Lungs Posted 7 June, 2012 Posted 7 June, 2012 Brave, plucky, not-our-fault Pompey. Sick viewing.
Crab Lungs Posted 7 June, 2012 Posted 7 June, 2012 I'm sure Avram was impressed with Halford's tweet earlier, too.
Gemmel Posted 7 June, 2012 Posted 7 June, 2012 Brave, plucky, not-our-fault Pompey. Sick viewing. Yes indeed, but for the glorious interviews with Avram and Storrie, it is pure comedy gold.
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