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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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pedg

pedg

Posted
Posted

So so far we have:

 

Players who were possibly not eligible to vote voting in the CVA

Including all parachute payments in CVA when they had already had an advance

Ignoring a HMRC assessment without having the appeal.

Whitey Grandad

Whitey Grandad

Posted
Posted
Thier "interest" in the CVA vote was about future earnings, the cva was a vote about past earnings/debts? That sheldon point is irrelevent?

 

But if they are creditors (or were at the time of the vote) this would mean that they would get 100% and not 20% like everybody else.

Burger

Burger

Posted
Posted
Thier "interest" in the CVA vote was about future earnings, the cva was a vote about past earnings/debts? That sheldon point is irrelevent?

 

Tony, you should be in court as part of the HMRC team

stevegrant

stevegrant

Posted
Posted
Quick question for the brainy ones amongst us. If Pompey were receiving payments from the EPL to carry on playing does that leave a door open to sue the league and FA for clubs that lost points or were knocked out of the FA cup?

In terms of the Premier League points, it would depend on whether the club chairmen were offered a vote on it, I think. If Scudamore and Richards did it unilaterally, they could probably argue that players they played in the second half of the season, who they couldn't afford, were directly responsible for a loss of points and therefore potentially a loss of revenue if it affected their league position. Not sure we'd have any comeback for the FA Cup though.

trousers

trousers

Posted
Posted
I'dsay so, as they were clearly supporting a team financialy, who were insolvent!

 

Is there anything "illegal" about supporting a company on the cusp of insolvency though? In the same way Leon Crouch did for us?

 

In other words, isn't there a fine line between supporting a company who are actually insolvent versus a company would would be insolvent IF they weren't being propped up by a benefactor?

Whitey Grandad

Whitey Grandad

Posted
Posted
So they got a sh*t load of money in January which they promptly used to sign a load of players which helped them get to the FA cup final. Disgraceful.

 

Money which should properly have gone to creditors, especially those who had long-term oustanding claims at the time.

Shufty Zubrik

Shufty Zubrik

Posted
Posted

Earlier Mr Sheldon said Pompey received an £11m parachute payment from the Premier League between December 24, 2009, and January 31 this year.

There was a further payment of £1.5m between February 1 and February

26 and another of £1.7m after the club went into administration.

 

So having admitted that WITHOUT the £11 million parachute advance they were insolvent how on earth did they get through the first Winding Up petion unless they LIED! No mention of 'Oh by the way we have £11 million that we forgot to mention'

Cheating Bastards. NOTHING SHORT OF LIQUIDATION AND EXTERMINATION WILL DO NOW!

Scudamore and the EPL are morally bankrupt on this -

hypochondriac

hypochondriac

Posted
Posted
Money which should properly have gone to creditors, especially those who had long-term oustanding claims at the time.

 

How is that allowed? (Ps I'm staying off the main board but the pull of this thread is too strong!)

Matthew Le God

Matthew Le God

Posted
Posted (edited)

So they have had £14m of parachute money already and still have roughly £22m of outstanding football debt which the Football authorities plan to withhold so they can pay it off.

 

Leaves Pompey with only £12m of parachute payments over the next 4 years of the proposed CVA. Did it say that in the CVA? I don't think so....

Edited by Matthew Le God
St Chalet

St Chalet

Posted
Posted

Mr Sheldon, for Pompey, claimed player was perfectly entitled to vote under the terms of reference for the Company Voluntary Agreement to make a claim for £1.3m which would be owed to him over the rest of his contract .

 

It thus follows that the HMRC would be entitled to PAYE and NIC as well. Logically if the players contractual entitlement can be included, so can the tax liability!

JackanorySFC

JackanorySFC

Posted
Posted
[Comment From US Baggage Handler US Baggage Handler : ]

Hey guys hope you don't lost this case as well , love to all from the US / Loved your company whilst you guys were here , Good luck

 

Genius!

qwertySFC

qwertySFC

Posted
Posted
US Baggage Handler - that's genius!

 

Your most welcome, I changed from Steve More An-dover as posts were not being displayed

 

Posted a second one so hope fully it will go through lol

sun of spain

sun of spain

Posted
Posted

That "Blue Victim" character is a wheeze ! First they post about morally winning anyway despite any Court verdict, and then they open up a can of worms questioning the validity of the CVA and parachute payments paid early.

 

One of ours perhaps ?

JackFrost

JackFrost

Posted
Posted

From my very limited understanding of this court case, it strikes me that HMRC are merely bringing up the odd damaging accusation but mostly letting Pompey shoot themselves in the foot

stevegrant

stevegrant

Posted
Posted
So they have had £14m of parachute money already and still have roughly £22m of outstanding football debt which the Football authorities plan to withhold so they can pay it off.

 

Leaves Pompey with only £12m of parachute payments over the next 4 year of the proposed CVA. Did it say that in the CVA?

*checks CVA proposal*

 

Strangely, I can't find any mention of that... who'd have thought it? :suspicious:

anothersaintinsouthsea

anothersaintinsouthsea

Posted
Posted
Mr Sheldon, for Pompey, claimed player was perfectly entitled to vote under the terms of reference for the Company Voluntary Agreement to make a claim for £1.3m which would be owed to him over the rest of his contract .

 

It thus follows that the HMRC would be entitled to PAYE and NIC as well. Logically if the players contractual entitlement can be included, so can the tax liability!

 

Tis is so dodgy it is untrue, if Pompey get away with this it fly in the face of all natural justice.

Torres

Torres

Posted
Posted
*checks CVA proposal*

 

Strangely, I can't find any mention of that... who'd have thought it? :suspicious:

 

I wonder if many of the creditors would have voted differently if they knew that?

saintjay77

saintjay77

Posted
Posted

lol im giving up posting on there now. Yesterday I was on the ball. But partying hard in newquay till 4am has left my shizzle all messed up. Finding all the other posts hilarious. Keep it up people!

tony13579

tony13579

Posted
Posted
How can 'future earnings' be considered as part of the CVA? Any supplier to the club could argue that same point if that were the case :(

Also pay for those employed is already proteted including thier 90 days severance pay in lou? of notice

pedg

pedg

Posted
Posted
Pretty sure the monies forwarded earlier were not actual parachute payments, but an advance on TV money

 

It was one assume: If you stay up its an advance on next years TV money, if you go down its an advance on the parachute payment.

OldNick

OldNick

Posted
Posted

toaster making a comment about Sol and his 1.7m image rights that the would have to make £20 a shirt and sell 85k of them to get their money back. Many a true word said in jest

OldNick

OldNick

Posted
Posted

Does seem strange that other clubs come out of administration without any issue and the first time its a Premier League club involved its like swimming in treacle to get CVA thru'!

 

Is this for real from one of them or is it one of the clowns on here??????

Draino76

Draino76

Posted
Posted

16:08 [Comment From swahar swahar : ]

Whilst the HMRC no doubt have a point about fairness, it seems to me they should be tackling this through the proper channels not using the courts, and wasting more of our money in this way. I am no expert but this is how it appears to me.

 

You got that right.

stevegrant

stevegrant

Posted
Posted
Does seem strange that other clubs come out of administration without any issue and the first time its a Premier League club involved its like swimming in treacle to get CVA thru'!

:lol: :lol: :lol:

 

That's probably the best of the lot. Failing to spot that finding a way of clearing £140m of debt is somewhat harder than clearing £140,000 of debt :facepalm:

stevegrant

stevegrant

Posted
Posted
16:08 [Comment From swahar swahar : ]

Whilst the HMRC no doubt have a point about fairness, it seems to me they should be tackling this through the proper channels not using the courts, and wasting more of our money in this way. I am no expert but this is how it appears to me.

 

You got that right.

Aren't the courts the proper channels? :lol:

gaz

gaz

Posted
Posted

[Comment From Ken Ken : ]

One good thing lads. At least there is now no one in the world who hasn't heard of Portsmouth Football Club. Not many other teams can say that

 

Yep, cos all publicity is good publicity. Worked well for Katie Price, Kerry Katona, Jade Goody, Amy Winehouse etc. They have glorious reputations now, don't they? :)

popyto

popyto

Posted
Posted

Quote Originally Posted by bridge too far View Post

How can 'future earnings' be considered as part of the CVA? Any supplier to the club could argue that same point if that were the case

 

not sure exactly how contracts within football work, But when players sign do they sign for a sallary that equates to £X millon over the years. or do they sign for £X million that is essentail paid in instalments? if the later then it could be argued that future earnings could be considered.

 

not sure if there is a difference but if I get made redundant I get 3 months sallary, if a players contract gets cancelled dont the club unless there is a breach on players side need to cough up the full amount? hence they are essentially football creditors.

sussexsaint

sussexsaint

Posted
Posted
Pretty sure the monies forwarded earlier were not actual parachute payments, but an advance on TV money

 

Havent the blue lawyers just confirmed that it was indeed an advance of their parachute payments in thehigh court?

OldNick

OldNick

Posted
Posted
:lol: :lol: :lol:

 

That's probably the best of the lot. Failing to spot that finding a way of clearing £140m of debt is somewhat harder than clearing £140,000 of debt :facepalm:

 

Add the fact that there are a raft of clubs who have been severely hurt by administration and the CVA

qwertySFC

qwertySFC

Posted
Posted
toaster making a comment about Sol and his 1.7m image rights that the would have to make £20 a shirt and sell 85k of them to get their money back. Many a true word said in jest

 

Toaster is a SWF member just having a laugh at their expense lol

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