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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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angelman

angelman

Posted
Posted
Good point. Is he another chappy who is implicated in the mess? The pompey disease spreading through the back offices of the game.

 

Attendence sweepstake ladies and gentlemen? They are going to be coming out in their droves, Penny, Cameron and all to be the bestestests in the land™, the pompey twelfth man

 

I will go for 13,123 (inc 500 Hull), miles under break even so the game will be a loss maker!

 

 

In their droves, Voldermorts unpaid army!

 

Hmmm. You forgot that it might be snowing (or not) and is going to be damn cold. I'll go for 12,364

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Lord Duckhunter

Lord Duckhunter

Posted
Posted

Obviously only reading reports and tweets you can't know too much about Redknapp's case but I think the whole thing will hang on the judges summing up. I dont know enough about the law, but surely ignorance is no defence.There was either tax due or the wasn't. If it was a geniune "invsetment" oppurtunity or gift from MM to him, why the Rosie account in monaco. We've a pretty decent Nationwide here in Poole.

 

I may have been watching too much TV, but I have a gut feeling that the judge will cut through all the BS, and concentrate the jury's minds during the summing up.The jury will go where he/she leads them, and clarifys the legal position.

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derry

derry

Posted
Posted (edited)
Can someone quickly help me out here.....I'm continuing the debate with my work colleagues re: administration differences between Southampton and Portsmouth.

 

They are asking when Saints paid up their CVA but I'm struggling to convince them that Saints never had a CVA (that's right, isn't it?) and therefore it's a moot point.

 

I know he club istelf never went into administration but was there ever a SLH CVA? If not, why not?

 

Cheers.

 

No CVA was necessary for two reasons. SFC, the club never went into administration, continued trading, sold players, was bought, paid its bills and stayed solvent. Secondly the assets of SLH were purchased by Markus Leibherr including the club. The stadium mortgage was paid off under agreement with Aviva, The overdraft was paid off under agreement with the bank. SLH then was liquidated

Edited by derry
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pedg

pedg

Posted
Posted
Obviously only reading reports and tweets you can't know too much about Redknapp's case but I think the whole thing will hang on the judges summing up. I dont know enough about the law, but surely ignorance is no defence.There was either tax due or the wasn't. If it was a geniune "invsetment" oppurtunity or gift from MM to him, why the Rosie account in monaco. We've a pretty decent Nationwide here in Poole.

 

I may have been watching too much TV, but I have a gut feeling that the judge will cut through all the BS, and concentrate the jury's minds during the summing up.The jury will go where he/she leads them, and clarifys the legal position.

 

Hopefully someone will remind the judge and jury:

 

There is proof the account was only accessible by Redknapp.

 

The account was, as far as we know, a normal account with no investment component. No reason why money put into it would not be there later. As far as I am aware the paper record of what went into the account equals what came out of the account.

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Pugwash

Pugwash

Posted
Posted

I may have been watching too much TV, but I have a gut feeling that the judge will cut through all the BS, and concentrate the jury's minds during the summing up.The jury will go where he/she leads them, and clarifys the legal position.

 

That's exactly what he'll do. I served on a jury in a fraud case, albeit not in the same league as this moneywise, and the judge really did set out the facts and stripped it all down to the basics, somewhat belittling both Counsels' theatrics.

 

On another note, Harry's little tantrum at the policeman won't have done himself any favours with the Jury.

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Chin Strain

Chin Strain

Posted
Posted
Can't believe Corp is still trying to deflect attention. Maybe I can. Really hope I wouldn't be like that, don't think I would. I don't think he really believes any of it, but it's the most simplistic defence. That's why there's little point discussing it as saints fans, and why the majority of this thread has been about football fans and taxpayers in a far more general sense. Any real local rivalry died long ago for me, they're not a real club, no banter I just want it over with so we can form rivalry with their new, proper club that vaguely means something.

 

His current Portsmouth FC have done more to harm their local community and rip off fans etc than we could have ever hoped for as local rivals. How can we mock them when their own club does it like that?

 

No, I'm just fed up of football acting like this. Corp can moan about not reacting like this if another company didn't pay taxes etc., but that's the point isn't it....we don't have to care about that because we know damn well it will be sorted out. They won't get special treatment because of sport and local communities. People support football clubs so that must bring some special privilege. Unless you're a small club like Luton or Darlington apparently.

 

Dress it up however you like Corp, but the majority of us just want football in this country to be run fairly, and PFC haven't allowed a level playing field with their rivals for years now. They've cheated countless clubs, fans and opposition players, managers etc., before we get on to taxpayers. You think we like scraping through in a recession, seeing important spending cuts then having clueless morons moan that poor little PFC are being made to pay their tax? Rather than sustain their players inflated wages? It'd be fcking disgusting if it was Saints, if it was Birmingham, Reading, and it's fcking disgusting when it's you. It becomes worse when seeing it happen time after time and the same delusional or plain unscrupulous fcks try to shift the blame, lie and deflect it off as rivalry, bullying or whatever.

 

Grow the fck up.

 

This. In spades, every day of the week, and at weekends. Bloody right.

 

I don't care that it's Pompey. If it was us I'd be equally disgusted. Sure, Ho will think that we're just saying that, but I know my own mind how I was brought up, and how I understand the difference between right and wrong. I understand businesses go bust, but it's how you go bust that is important too.

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Chin Strain

Chin Strain

Posted
Posted
Thanks guys would never have known the email address if it wasnt for you, heres my correspondance.

 

 

 

Dear Mr Cameron, I am writing to express my thanks on yourself and Ms Mordaunt support in trying to bring together some sort of communication between the HMRC and Portsmouth FC. As you probably know Portsmouth FC has been run in to its existing state by a number of utterly deficient 'owners' who generally would not even qualify for a household mortgage, but have been deemed more than adequate for the Premier and Football leagues 'Fit and Proper Testing' procedure. I know that you have had numerous emails today on this subject many questioning why you are placing such importance on this issue, I know this as a fact as I have been on various Southampton FC forums and witnessed our neighbours trying to start a campaign to give you a hard time on taking this up, even to the point of claiming they are just 'neutral' non football supporting taxpayers. I think this vindictiveness just goes along with your theory that we could never just pop up the road to support their team. I do not think that they realise that all you have agreed to do today, is to help get everyone at the table, look at our situation and sort this out, not to avoid paying what we owe. We are just trying to stop a community lose one of its most important features, of which the community has had no input up to now in its demise other than its unwavering support. I would again like to thank you for highlighting this issue.

Thank you from a Pompey Fan who is now a Tory Pompey Fan

 

 

 

 

Had to stop myself spoiling it by calling you s(um

 

I have to ask the obvious question. Did you actually read or hear what DC said and, more importantly, did you understand it?

 

The text is:

She said: “If a local supermarket closes down another quickly takes its place. If Portsmouth Football Club closes down, the Pompey fans will not be content with buying their season tickets from Southampton.

 

“Will the Prime Minister add his voice to mine in calling for HMRC to meet with the club so it recoups the taxes it’s owed, that our club survives and that the fans have their chance to become its owners.”

 

Cameron responded: “I will certainly do that. I think she is absolutely right to raise this issue. Knowing one or two Pompey fans I can completely understand.

 

“The idea that they can go and support Southampton is completely incredible. We must do all we can to keep this friendly rivalry going.”

 

So she suggests that HMRC should meet with POmpey to recoup taxes. He agrees.

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trousers

trousers

Posted
Posted
Obviously only reading reports and tweets you can't know too much about Redknapp's case but I think the whole thing will hang on the judges summing up. I dont know enough about the law, but surely ignorance is no defence.There was either tax due or the wasn't. If it was a geniune "invsetment" oppurtunity or gift from MM to him, why the Rosie account in monaco. We've a pretty decent Nationwide here in Poole.

 

I may have been watching too much TV, but I have a gut feeling that the judge will cut through all the BS, and concentrate the jury's minds during the summing up.The jury will go where he/she leads them, and clarifys the legal position.

 

^ This

 

And, yes, "ignorance" of a situation is not admissable as a defence in English law

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trousers

trousers

Posted
Posted
No CVA was necessary for two reasons. SFC, the club never went into administration, continued trading, sold players, was bought, paid its bills and stayed solvent. Secondly the assets of SLH were purchased by Markus Leibherr including the club. The stadium mortgage was paid off under agreement with Aviva, The overdraft was paid off under agreement with the bank. SLH then was liquidated

Cheers. So, in summary, my work colleagues (and thousands like them) are talking b*****ks when they compare PFC's administration(s) to ours?

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Micky

Micky

Posted
Posted
That's a good summary apart from 1): the failure to mention that were it not for the assistance of the football authorities in forwarding money (thus giving them an unfair advantage) they would probably be bust already; 2) the failure to mention the clear cheating that allowed the plucky cup run alluded to and the wrong impression given that it was a ramshackle team of inexperienced kiddies; and 3) a clear misunderstanding of the nature and purpose of the "Fit and Proper Persons" test.

 

I agree. But one thing that you have to remember is that the people at the FL are not fools. Fans at PFC can bleat all they like about their last succession of owners - but it is not really the FL's fault.

 

Do you honestly think that for one moment that the FL would have passed any of those owners if better options were on the table. The bottom line is that, for years, they have been unable to attract any creditable owners and as a result have had to take what they got. It is not the FL remit to find them owners, in the circumstances they have cut them an amazing amount of slack.

 

If the FL is guilty of anything it is not having them wound up years ago due to lack of creditable owners.

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Katalinic

Katalinic

Posted
Posted
Am I right in thinking that Westwood got a ban from St. Mary's in their first visit at St. Mary's for ****ing on the seats?

 

If so it would be nice if the club were to actually stick to the ban for the game in April but I highly doubt it will happen.

 

http://www.portsmouthfc.co.uk/LatestNews/news/Southampton-v-Pompey-Ticket-Arrangements-3080.aspx

 

Reading through this and the banned items at least he won't be able to bring his bell in. Arguably he is a hazardous item in his own right.

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Saint_John

Saint_John

Posted
Posted

On a slightly different subject I believe the High Court is going to give a decision the "Murphy decoder/ Sky TV" tomorrow.

It is marked as "FA Premier League v QC Leisure" in Court 70 before Justice Kitchin.

http://www.justice.gov.uk/guidance/courts-and-tribunals/courts/hearing-lists/list-appeal-civil.htm

 

If you want to listen to a 30 min podcast by Daniel Geey about the legal arguments (incl the broadcasting of games at 3 O'clock on Sat), it is here.

http://www.beyondthepitch.net/podcasts/edition/index.cfm/beyond-the-pitch/2011/10/06/daniel-geey/

 

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warsash saint

warsash saint

Posted
Posted
Am I right in thinking that Westwood got a ban from St. Mary's in their first visit at St. Mary's for ****ing on the seats?

 

If so it would be nice if the club were to actually stick to the ban for the game in April but I highly doubt it will happen.

 

No, the budgie was their for the last FA Cup game in 2010.

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Saints foreva

Saints foreva

Posted
Posted
No, the budgie was their for the last FA Cup game in 2010.

 

Yeah I know he has attended every fixture since their first visit in the Carling Cup but I'm sure he was supposed to be banned for life for ****ing on the seat in 2003.

 

Doubt our club would have the balls to stop him from going tbh, seem to remember last time he had around 10 stewards escorting him from his mini-bus to the ground.

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Weston Super Saint

Weston Super Saint

Posted
Posted
@pn_neil_allen: #Pompey staff and players told they will have to wait longer for January wages with club yet to complete validation order.

 

Hehe, I 'tweeted' Rory this afternoon about that very same thing :D

 

Perhaps it prompted one of his colleagues to look into the matter and find out the score.

 

So, AA was confident of a buyer within 48 hours - six? weeks ago! - and that didn't happen. Then he was confident the empty bank accounts would be unfrozen in 24 hours - that was on Monday! - and that didn't happen!

 

Please, please AA would you state how confident you are that the skates won't get liquidated or relegated :D

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pedg

pedg

Posted
Posted

So, AA was confident of a buyer within 48 hours - six? weeks ago! - and that didn't happen. Then he was confident the empty bank accounts would be unfrozen in 24 hours - that was on Monday! - and that didn't happen!

 

A little task. What was the last statement made by AA relating to the estimation of time by which an event was supposed to happen that was actually correct?

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andysstuff

andysstuff

Posted
Posted

http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/pompey_players_and_staff_in_new_wage_bill_blow_1_3482465?commentspage=0

23

Wipers Sniper

Thursday, February 2, 2012 at 06:36 PM

 

@unclefestershalfbrother Since when have the fans ever been the heartbeat of this club? You're deluding yourself along with most people on here with regards to the power of the fans. 11,000 gates (if we're lucky) every other week do not keep this club running, therefore, something else must be the heart beat of the club, hmmm, what could that be, I wonder? Oh yes, that's it, generous owners, understanding banks with big overdrafts, players accepting pay cuts (not many of those I grant you and why should they), and that's about it. We are, and forever will be, a small club punching above its weight, unless someone comes into town waving a couple of hundred millions pounds to totally, and I mean totally, revamp the place, including moving out of Portsmouth. That just isn't going to happen in the present economic climate. So let's face facts: we haven't been told anything because, there is nothing to tell. Therefore, we are going one way, and it ain't up. We might stave off relegation this year (if we survive being wound up) but the downward trend will continue until we find our level somewhere between League 1 and 2. We don't deserve to know anything because we put nothing of tangible value or worth into the club. Gate receipts are pitiful yet we expect to be entertained by £million plus players, we complain about the stadium yet do nothing to raise funds to improve it, we want it to be a community club but are not willing to dig deep and support those who do wish it to be so. Let's just see how we pack out the Park on Saturday, I fear however, that it will not be the huge success we would hope for and that, I'm afraid, sends out a clear and succinct message to the owners and the staff. PUP but probably more likely to be RIP

 

 

Maybe, just maybe they're starting to get it. Or was that one of you lot?

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Torres

Torres

Posted
Posted

http://coopermatthews.com/validation-order.html

 

An application for a validation order should generally be made to the registrar or district judge. In order to achieve this, the directors of the company will have to appoint legal counsel. As the company's assets are frozen, the directors will have to pay for this counsel themselves.

 

Notice of the making of the application must also be given to the creditor who originally petitioned for the winding up order. In the case of where the debt has been paid or an arrangement made, the details of this will be required to be included in the application for the validation order.

 

The information required in the application will vary according to the circumstances and the nature of the relief sought, but in the majority of cases it should include, as a minimum, the following information:

 

The company's registered office;

The company's nominal and paid up capital;

Brief details of the circumstances leading to presentation of the petition;

How the company became aware of presentation of the petition;

Whether the petition debt is admitted or disputed and, if the latter, brief details of the basis on which the debt is disputed;

Full details of the company's financial position including details of its assets (including details of any security and the amount(s) secured) and liabilities, which should be supported, as far as possible, by documentary evidence e.g. the latest filed accounts, any draft audited accounts, management accounts or estimated statement of affairs;

A cash flow forecast and profit and loss projection for the period for which the order is sought;

Details of the dispositions or payments in respect of which an order is sought;

The reasons relied on in support of the need for such dispositions or payments to be made;

Any other information relevant to the exercise of the court's discretions;

Details of any consents obtained from the petitioning creditor (supported by documentary evidence where appropriate).

Where an application is made urgently to enable payments to be made which are essential to continued trading (e.g. wages) and it is not possible to assemble all the evidence listed above, the court may consider granting limited relief for a short period, but there should be sufficient evidence to satisfy the court that the interests of creditors are unlikely to be prejudiced.

 

Where the application involves a sale of property the court will need details of the property (including its title number if the property is land) and to be satisfied that any proposed disposal will be at a proper value. Accordingly an independent valuation should be obtained and exhibited to the evidence.

 

The court will need to be satisfied by credible evidence that the company is solvent and able to pay its debts as they fall due or that a particular transaction or series of transactions in respect of which the order is sought will be beneficial to or will not prejudice the interests of all the unsecured creditors.

 

 

Now wouldn't THAT be an interesting read!

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trousers

trousers

Posted
Posted

 

"What fears - the players have shown their loyalty to this club this week by switching off mobile phones and being "unavaiable" to their agents and AA......With Appy the lads are united as Pompey players. We should all be very happy about that and grateful for their loyalty. It makes me feel proud to be a Pompey fan!! PUP!!"

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Matthew Le God

Matthew Le God

Posted
Posted

Apparently these are the words of Joseph Cala...

 

It is time for some straight talk to avoid additional confusion and incorrect assumptions. Let’s identify Portpin Ltd. as the “Owner,” and CSI, and everyone else, as the “Operators.”

 

Q. The fans are confused. Why has the club had so many owners?

A. Actually, the club has always had one owner.

 

Q. Who ìs the actual Portsmouth owner?

A. Portpin Ltd., a British Virgin Island Company.

 

Q. Why do the Operators claim to be the owners?

A. The Operators failed to understand the true meaning of the debenture note (see the definition below).

 

Q. How we do know that Portpin is the actual owner, and not the Operators?

A. Portpin is in possession of a debenture note while the Operators are not.

 

Q. What is the definition of a debenture note?

A. In the UK, the debenture holder is the ultimate owner, while anyone else is either an

unsecured creditor, operator, tenant, lessee, borrower or administrator.

 

Q. If Portpin is the ultimate owner, how was it that the Operators were able to run the club?

A. The Operators executed a private agreement with Portpin to operate the club. However,

as soon as the Operators failed to pay the monthly fees to Portpin, they were evicted.

 

Q. It was the Operators’ intention to be just the club operators, not owners?

A. Of course not; they genuinely felt that they were buying the club.

 

Q. Does this mean that Portpin misled the Operators?

A. Absolutely not, but one assumes that the Operators received bad advice.

 

Q. What are Joseph Cala’s plans for Pompey ??

A. 1. To purchase the debenture note from Portpin.

2. To cancel the debenture note and gift it to the club.

3. To build the finest football college on the planet.

4. To hire Deloitte Touche as the auditors.

5. To make the club’s financial statement available online.

6. To pay off all club debt.

7. To have quarterly meetings with the heads of support clubs.

8. Either to remodel Fratton Park or to build a world-class stadium. This decision

will be made with input from every head of the support clubs.

9. Class A office towers, a shopping center and hotels will be adjacent to the stadium.

10. To list Pompey on the stock market. It is imperative that Pompey’s comprehensive, master

plan attract global investors such as Man Utd. In addition, every fan will have the

opportunity to have an ownership interest in Pompey. I am aware that many

FC traded poorly in the stock market. We’ll not have similar difficulties in the future because

our plan is to keep increasing the quarterly sales. In plain English, any publicly

traded company, including FC company, will perform poorly if the quarterly sales

(“turn over”) is flat. Basically, the goal of any publicly traded company is to keep

increasing its sales month by month.

 

11. It is a giant step for Pompey to be publicly traded for the following reasons:

a) Pompey will have its own financial institution whereby the fans will carry credit cards with the Pompey logo;

b) Pompey will receive access to the world of pension funds investment;

c) New Pompey clubs will be created in various countries such as Argentina,

Brazil, Colombia, Costa Rica, Mexico, USA, Japan, China, India, Australia, Dubai,

Qatar, Dubai, Nigeria, Ghana, Cameroon, Angola and South Africa.

 

Creating the above new Pompey clubs it will create sources of new talent to Portsmouth FC of UK which will allow Pompey to win the Premier League title over time.

 

I strongly believe that Pompey has what takes to become the world champion. However, it takes a fully-dedicated owner with true passion for the sport, and a burning desire to turn Pompey into the finest club in history. The owner must have a deep understanding of how to create wealth for the club. The owner must know how to undertake major development, such as the new stadium, hotels, a convention center, a sports medical center, and office towers.

 

Finally, the owner have to have in place the sharpest talent scouts residing in 33 countries where football is part of their life.

 

Hilarious if he believes all of that! :D

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Cascadia Saint

Cascadia Saint

Posted
Posted
http://www.portsmouth.co.uk/sport/pompey/pompey-past/great-matches/pompey_players_and_staff_in_new_wage_bill_blow_1_3482465?commentspage=0

23

Wipers Sniper

Thursday, February 2, 2012 at 06:36 PM

 

@unclefestershalfbrother Since when have the fans ever been the heartbeat of this club? You're deluding yourself along with most people on here with regards to the power of the fans. 11,000 gates (if we're lucky) every other week do not keep this club running, therefore, something else must be the heart beat of the club, hmmm, what could that be, I wonder? Oh yes, that's it, generous owners, understanding banks with big overdrafts, players accepting pay cuts (not many of those I grant you and why should they), and that's about it. We are, and forever will be, a small club punching above its weight, unless someone comes into town waving a couple of hundred millions pounds to totally, and I mean totally, revamp the place, including moving out of Portsmouth. That just isn't going to happen in the present economic climate. So let's face facts: we haven't been told anything because, there is nothing to tell. Therefore, we are going one way, and it ain't up. We might stave off relegation this year (if we survive being wound up) but the downward trend will continue until we find our level somewhere between League 1 and 2. We don't deserve to know anything because we put nothing of tangible value or worth into the club. Gate receipts are pitiful yet we expect to be entertained by £million plus players, we complain about the stadium yet do nothing to raise funds to improve it, we want it to be a community club but are not willing to dig deep and support those who do wish it to be so. Let's just see how we pack out the Park on Saturday, I fear however, that it will not be the huge success we would hope for and that, I'm afraid, sends out a clear and succinct message to the owners and the staff. PUP but probably more likely to be RIP

 

 

Maybe, just maybe they're starting to get it. Or was that one of you lot?

 

I was about to quote that myself.

 

A fair assessment I think we can agree. How the hell can the blue few be considered 'the best fans in the country ever. tm' when they can't even fill that shed? That has always annoyed the hell out of me.

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biondani

biondani

Posted
Posted
Doubts over whether they will be able to stage this weeks home fixture? What would happen if that was the case?

 

30 Penalty for Non-Fulfilment of Fixture Obligations

 

30.1 Any Club failing to fulfil its fixture obligations in respect of any match under the jurisdiction of The League on the appointed date or dates or causing the Board to suspend any fixture shall be deemed guilty of misconduct, unless the circumstances giving rise to such failure are outside the control of the Club and could not have been reasonably foreseen or reasonably anticipated and remedied prior to the match. Every Club shall carry out regular and appropriate maintenance and checks to ensure that its safety certificate is not suspended or withdrawn.

 

30.2 The Club failing to fulfil its fixture or causing the Board to suspend such fixture shall be liable to pay compensation for any expenses actually incurred by the opposing Club as a direct result of the failure or suspension. The amount of compensation will be at the discretion of the Board who will consider every such case on its merits. The Board may refer the amount of compensation to be paid to the Football Disciplinary Commission appointed under Regulation 80 dealing with the misconduct by the Club failing to fulfil its fixture or causing the Board to suspend the same.

 

Would love to know how they would pay the compensation.

 

Ian

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