trousers Posted 16 February, 2012 Posted 16 February, 2012 effing nutjobs, every single one of..........us. Re the full membership, while I would welcome further opportunities to use a traditional blend of acid wit and plain facts to highlight the hilarious criminality precariously disguised as a business to the east, it isn't a reluctance to spend money that restricts my posting. As it is I've lost months of my life in this thread, if I had unrestricted access I would suffer mental problems. And you don't have to look too far on here to see how that can creep up on people.... I've read every single page, you must if you want to keep on top of what is happening - some postings take half an hour to put together, as the likes of HolePuncture know, the time involved editing a rant so you don't come across as demented is taxing..... So many thanks for the nominations, I love you too, but Mr Munster is correct, I'm desperately trying to prove to Lampitt that quality over quantity can work... With the end game looking close it would be amusing to have a PTT social event at some point, either when they go pop and the thread closes so we recognise Duncan's lifetime achievement with a drink in Southampton, or when we get promoted? - whatever happens first. I genuinely look forward to meeting some of the pants-wetting nutjobs behind the funniest posts - there has been some classic comedy on here, along with great investigative and technical analysis. I've had a ball on here, its rare to go a page without a laugh out loud moment, it would be good to put faces to names and answer those worrying questions.... Why would you call yourself Trousers, and do we want to know the detail? Is that Archie Gemmel? Is Phil really Jason King with a golf club? Are Crab Lungs something you only see on Masterchef?...... Just like the unpublished Conan Doyle manuscript, Sherlock Holmes and The Baffling Case of the Turd That Wouldn't Flush, one day these mysteries should be solved. I'm now receiving strange looks on the 08:34 from Waterloo East to London Bridge. Laughing out loud on public transport must be borderline certifiable...?
trousers Posted 16 February, 2012 Posted 16 February, 2012 The PTS liquidation party has a bit of a ring to it. Count me in. Maybe we could tie it in with the 100th anniversary of the sinking of the Titanic in April...? Just a thought...
Joey-deacons-left-nut Posted 16 February, 2012 Posted 16 February, 2012 I'm now receiving strange looks on the 08:34 from Waterloo East to London Bridge. Laughing out loud on public transport must be borderline certifiable...? You lazy fck! Walk!
trousers Posted 16 February, 2012 Posted 16 February, 2012 You lazy fck! Walk! I've now got a 15 minute walk from London Bridge to Aldgate to contend with thank you very much. FFS :-)
Doctoroncall Posted 16 February, 2012 Posted 16 February, 2012 You lazy fck! Walk! Have you ever tried to walk, read and laugh your head off at the same time?
Torres Posted 16 February, 2012 Posted 16 February, 2012 I'd walk rather than have to suffer South Eastern Trains, tbf. Commiserations, trousers. Still no news on the timing of tomorrow's court hearing? I need to make sure I'm not in any other meetings so that I can go along report back to you all, live from the RCJ - assuming that's where it'll take place, like all their other court appearances?
St Jim Posted 16 February, 2012 Posted 16 February, 2012 fair dinkum What will we do with our time when they go pop? Firstly throw a party, then spend some much needed time with my wife and kids. It'd be interesting to see how many divorces have 'Pompey Takeover Saga' recorded as the "other person"
Danish Saint Posted 16 February, 2012 Posted 16 February, 2012 I have a feeling, we're committing hybris at the moment. Remembering our own administration and the gloating Pompey-supporters.... They have their nemesis now. Don't gloat too much over them going out of business. These things have a tendency to come back and bite you in the a*se.
dvaughanwilliams Posted 16 February, 2012 Posted 16 February, 2012 Ha! http://www.portsmouth.co.uk/news/potential_buyer_says_losing_points_would_put_him_off_1_3524326 The latest interested bidder told The News he is a successful international businessman in the leather industry and is based in Hampstead, London. http://www.warwickcourier.co.uk/news/local/my_attacker_walked_free_after_i_chased_him_through_the_streets_1_3346628 Keith Gregory, 57, of Hampstead in London, was in the Parade on Saturday advertising leather jackets which were being sold at the Travelodge hotel nearby. I'm sure there are lots of people in the Leather industry who live in Hampstead, are 57 years old and are called Keith Gregory, so just a co-incidence.
Gemmel Posted 16 February, 2012 Posted 16 February, 2012 He added he wants to buy Pompey for his son Alexander, 27, who he said is involved in organising chess tournaments Chess...... It just keeps on popping up on this thread
Chez Posted 16 February, 2012 Posted 16 February, 2012 (edited) How much would you value the players + the ground? I'm expecting them to produce a document with goodwill valued at £30m. very interesting. They massively overvalued the squad last time. I think someone at HMRC needs to take some advice on realistic players values. I wonder if they re based on the selling price whilst in the current predicament or if they were stable. There is no such thing as stable. I'm sure the skates would disagree, but here's my best guess. Not sure about the value of the ground. I'm sure someone else can help there. Jamie Ashdown £100,000 Stephen Henderson £700,000 Joel Ward £1,000,000 Ricardo Rocha £0 Jason Pearce £1,000,000 Greg Halford £200,000 Tal Ben-Haim £0 Adam Webster £100,000 Aaron Mokoena £0 Liam Lawrence £800,000 Hayden Mullins £300,000 Erik Huseklepp £300,000 Kelvin Etuhu £0 David Norris £0 Marko Futacs £900,000 Luke Varney £1,200,000 Dave Kitson £600,000 Benjani £0 N****wo Kanu £0 Edited 16 February, 2012 by Chez
ALWAYS_SFC Posted 16 February, 2012 Posted 16 February, 2012 effing nutjobs, every single one of..........us. Re the full membership, while I would welcome further opportunities to use a traditional blend of acid wit and plain facts to highlight the hilarious criminality precariously disguised as a business to the east, it isn't a reluctance to spend money that restricts my posting. As it is I've lost months of my life in this thread, if I had unrestricted access I would suffer mental problems. And you don't have to look too far on here to see how that can creep up on people.... I've read every single page, you must if you want to keep on top of what is happening - some postings take half an hour to put together, as the likes of HolePuncture know, the time involved editing a rant so you don't come across as demented is taxing..... So many thanks for the nominations, I love you too, but Mr Munster is correct, I'm desperately trying to prove to Lampitt that quality over quantity can work... With the end game looking close it would be amusing to have a PTT social event at some point, either when they go pop and the thread closes so we recognise Duncan's lifetime achievement with a drink in Southampton, or when we get promoted? - whatever happens first. I genuinely look forward to meeting some of the pants-wetting nutjobs behind the funniest posts - there has been some classic comedy on here, along with great investigative and technical analysis. I've had a ball on here, its rare to go a page without a laugh out loud moment, it would be good to put faces to names and answer those worrying questions.... Why would you call yourself Trousers, and do we want to know the detail? Is that Archie Gemmel? Is Phil really Jason King with a golf club? Are Crab Lungs something you only see on Masterchef?...... Just like the unpublished Conan Doyle manuscript, Sherlock Holmes and The Baffling Case of the Turd That Wouldn't Flush, one day these mysteries should be solved. Brilliant.....best yet
sidthesquid Posted 16 February, 2012 Posted 16 February, 2012 Ha! http://www.portsmouth.co.uk/news/potential_buyer_says_losing_points_would_put_him_off_1_3524326 http://www.warwickcourier.co.uk/news/local/my_attacker_walked_free_after_i_chased_him_through_the_streets_1_3346628 I'm sure there are lots of people in the Leather industry who live in Hampstead, are 57 years old and are called Keith Gregory, so just a co-incidence. What I can't understand is why the News keeps printing these losers' fantasies. Still, as we say, Poopey - the gift that keeps on giving.
trousers Posted 16 February, 2012 Posted 16 February, 2012 (edited) Ha! http://www.portsmouth.co.uk/news/potential_buyer_says_losing_points_would_put_him_off_1_3524326 http://www.warwickcourier.co.uk/news/local/my_attacker_walked_free_after_i_chased_him_through_the_streets_1_3346628 I'm sure there are lots of people in the Leather industry who live in Hampstead, are 57 years old and are called Keith Gregory, so just a co-incidence. Oh my Lord...a street seller from London....this has more comedy potential than Cala. "This time next year we'll be mill-yon-airs" Edited 16 February, 2012 by trousers
St Jim Posted 16 February, 2012 Posted 16 February, 2012 So he's only interested to do the deal before admin? Given the admin hearing is tomorrow that won't give him enough time and if he's only interested if they aren't deducted 10 points he won't be much use in the admin hearing (I had assumed AA would have used him as a potential buyer to convince the court admin was the best option for creditors) . Better get the Delonghi warmed up!
tony13579 Posted 16 February, 2012 Posted 16 February, 2012 ... He added he wants to buy Pompey for his son Alexander, 27, who he said is involved in organising chess tournaments. that sounds famillier?
trousers Posted 16 February, 2012 Posted 16 February, 2012 (edited) http://www.portsmouth.co.uk/news/potential_buyer_says_losing_points_would_put_him_off_1_3524326 SELF-PROCLAIMED multi-millionaire businessman Keith Gregory expressed his intent to take over Pompey – but wants to secure a deal ahead of tomorrow’s administration hearing. Mr Gregory, a relative of former Pompey chairmen Jim and Martin Gregory, says he has no interest in the club once it goes into administration. Pompey’s administration hearing will be held at the High Court in London tomorrow. Administration will lead to the club suffering a 10-point penalty in the Championship. ------------------------------------------------------------------------------------------------------------------- Aaaaaaarrrrggggghhhhhhhhhhhh.... Right, that's it, now I'm starting to get really annoyed... For the LAST AND FINAL TIME..... Pompey have ALREADY triggered the criteria for a 10 point penalty. They have given notice that they intend to seek the protection of administration. The Football league rules CLEARLY state that it's this declaration that triggers the 10 point penalty and NOT the act of going into administration itself. As such, even if Pompey ended up not going into administration tomorrow (either because they were bought out at the last minute or refused by the courts to go into administration) they would still be docked 10 points....according to the Football League rules. So, this chap saying he wants to get in before the 10 points are deducted is BUNKUM! Am I right or am I right? Edited 16 February, 2012 by trousers
Brizzie Saints Posted 16 February, 2012 Posted 16 February, 2012 Pompey New Home Kit Pompey today announced the new home kit for next season will be available soon from the club shop. The kit sponsor Big ron has taken over from Umbro and hopes the supporters like the new design which can also be worn as casual evening wear, especially on those chilly nights hanging outside pubs in old portsmouth.
Toomer Posted 16 February, 2012 Posted 16 February, 2012 This chancer's company is worth £100k at most, so where has this self proclaimed multi millionaire got his money from, there must be a link to the gay fella and the mafia somewhere, or is it from a well known board game.
Weston Saint Posted 16 February, 2012 Posted 16 February, 2012 Someone will no doubt correct me but I am assuming to give notice that you might seek Administration gives the same protection as being in Administration, hense the short period from notice to Admin. PFC's hand were already tied by the WUP. They were trying to get the bank account freeze lifted so they could pay their outstanding supplier bills so they did not have the notice protection. Therefore they so not attract -10 until Friday at least. Any advance on that thought?
Clapham Saint Posted 16 February, 2012 Posted 16 February, 2012 What's the difference between a "self-professed" millionaire and a normal one...?
Pancake Posted 16 February, 2012 Posted 16 February, 2012 Aaaaaaarrrrggggghhhhhhhhhhhh.... Right, that's it, now I'm starting to get really annoyed... For the LAST AND FINAL TIME..... Pompey have ALREADY triggered the criteria for a 10 point penalty. They have given notice that they intend to seek the protection of administration. The Football league rules CLEARLY state that it's this declaration that triggers the 10 point penalty and NOT the act of going into administration itself. As such, even if Pompey ended up not going into administration tomorrow (either because they were bought out at the last minute or refused by the courts to go into administration) they would still be docked 10 points....according to the Football League rules. So, this chap saying he wants to get in before the 10 points are deducted is BUNKUM! Am I right or am I right? I think it's like this trousers. FC: We want to let you know we are going to apply to go into administration FL: OK, you know that this will trigger -10 points. FC: Yup FL: But we dont take 'em off you yet. FC: OK? FL: Yeah, we will wait until it actually happens. If you do end up appointing an administrator, we will then take your points away. If, by some miracle, you dont end up going into administration we can rescind the deduction. Got that? FC: Ah, nice one dudes.
Guest flickjax Posted 16 February, 2012 Posted 16 February, 2012 What's the difference between a "self-professed" millionaire and a normal one...? The millions.....
EastleighSoulBoy Posted 16 February, 2012 Posted 16 February, 2012 SELF-PROCLAIMED multi-millionaire businessman Keith Gregory expressed his intent to take over Pompey – but wants to secure a deal ahead of tomorrow’s administration hearing. Mr Gregory, a relative of former Pompey chairmen Jim and Martin Gregory, says he has no interest in the club once it goes into administration. Pompey’s administration hearing will be held at the High Court in London tomorrow. Administration will lead to the club suffering a 10-point penalty in the Championship. ------------------------------------------------------------------------------------------------------------------- Aaaaaaarrrrggggghhhhhhhhhhhh.... Right, that's it, now I'm starting to get really annoyed... For the LAST AND FINAL TIME..... Pompey have ALREADY triggered the criteria for a 10 point penalty. They have given notice that they intend to seek the protection of administration. The Football league rules CLEARLY state that it's this declaration that triggers the 10 point penalty and NOT the act of going into administration itself. As such, even if Pompey ended up not going into administration tomorrow (either because they were bought out at the last minute or refused by the courts to go into administration) they would still be docked 10 points....according to the Football League rules. So, this chap saying he wants to get in before the 10 points are deducted is BUNKUM! Am I right or am I right? You're right mate, unbelieveably right. You know it, we all know it, which leads me to believe, still, that there are wheels within wheels and that football is corrupt. No matter how much we protest, we can't make anything happen.
Wurzel Posted 16 February, 2012 Posted 16 February, 2012 This morning Chris Evans dedicated his Radio 2 Breakfast Show to today being National Toast Day. Just saying
trousers Posted 16 February, 2012 Posted 16 February, 2012 (edited) @pn_neil_allen: Playing numbers continue to dwindle for Appleton. http://t.co/OYCJ8wMU #Pompey While the clock ticks down on potential administration, other numbers continue to tumble for Michael Appleton. The smallest squad in the Football League has just dwindled further. As it stands, Michael Appleton possesses just 14 fit senior players for Saturday’s trip to Barnsley. Even then that includes Kanu, whose back problems have contributed to just one substitute appearance since October. It also consists of two goalkeepers in Stephen Henderson and Jamie Ashdown. David Norris (double hernia) and Luke Varney (knee) have been ruled out well in advance of Pompey’s next fixture. Now Greg Halford (knee) and Liam Lawrence (calf) have joined them in the treatment room. It remains too early to confidently predict the latest two casualties will also be absent from the Oakwell trek. The likelihood is, however, they will struggle to declare their availability. It leaves Appleton, who has been dealt a series of tough hands since his arrival at Fratton Park, with just 14 senior players to choose from. Of course, such numbers can be swelled by Adam Webster and a maiden first-team squad appearance for Sam Magri. Other academy prospects like Jed Wallace, Alex Grant and Dan Butler have also been training with Appleton’s squad in recent weeks. Regardless, Appleton’s selection options continue to cruelly ebb away. Edited 16 February, 2012 by trousers
trousers Posted 16 February, 2012 Posted 16 February, 2012 I think it's like this trousers. FC: We want to let you know we are going to apply to go into administration FL: OK, you know that this will trigger -10 points. FC: Yup FL: But we dont take 'em off you yet. FC: OK? FL: Yeah, we will wait until it actually happens. If you do end up appointing an administrator, we will then take your points away. If, by some miracle, you dont end up going into administration we can rescind the deduction. Got that? FC: Ah, nice one dudes. Why would the Football League break it's own rules...?
Weston Super Saint Posted 16 February, 2012 Posted 16 February, 2012 Oddly, I can't shake a disturbing vision out of my head today! It's of AA dancing around in the bedroom of his bedsit in his grey Y-fronts - A La Mr Bean! - infront of his mirror, singing in to his hairbrush 'I'm coming for you, I'm coming for yoooooouuuuuu, HMRC, I'm coming for you' Perhaps I should go for a long walk and get some fresh air
saint si Posted 16 February, 2012 Posted 16 February, 2012 SELF-PROCLAIMED multi-millionaire businessman Keith Gregory expressed his intent to take over Pompey – but wants to secure a deal ahead of tomorrow’s administration hearing. Mr Gregory, a relative of former Pompey chairmen Jim and Martin Gregory, says he has no interest in the club once it goes into administration. Pompey’s administration hearing will be held at the High Court in London tomorrow. Administration will lead to the club suffering a 10-point penalty in the Championship. ------------------------------------------------------------------------------------------------------------------- Aaaaaaarrrrggggghhhhhhhhhhhh.... Right, that's it, now I'm starting to get really annoyed... For the LAST AND FINAL TIME..... Pompey have ALREADY triggered the criteria for a 10 point penalty. They have given notice that they intend to seek the protection of administration. The Football league rules CLEARLY state that it's this declaration that triggers the 10 point penalty and NOT the act of going into administration itself. As such, even if Pompey ended up not going into administration tomorrow (either because they were bought out at the last minute or refused by the courts to go into administration) they would still be docked 10 points....according to the Football League rules. So, this chap saying he wants to get in before the 10 points are deducted is BUNKUM! Am I right or am I right? You're spot on Trousers. I am sure it is just a question of when they get deducted points, rather than if. Think the best thing we can do is to familiarise the fans of Coventry, Donny, Bristol City, Millwall, Ipswich etc with the relevant rules, and get them asking the question...
trousers Posted 16 February, 2012 Posted 16 February, 2012 Someone will no doubt correct me but I am assuming to give notice that you might seek Administration gives the same protection as being in Administration, hense the short period from notice to Admin. PFC's hand were already tied by the WUP. They were trying to get the bank account freeze lifted so they could pay their outstanding supplier bills so they did not have the notice protection. Therefore they so not attract -10 until Friday at least. Any advance on that thought? The Football League's insolvency criteria copied and pasted below. Didn't they do (b) on Monday....?? 'Insolvency Event' refers to any one of the following: (a) entering into a Company Voluntary Arrangement pursuant to Part 1 of the Insolvency Act, a Scheme of Arrangement with creditors under Part 26 of the 2006 Act, or any compromise agreement with its creditors as a whole; (b) the lodging of a Notice of Intention to Appoint an Administrator or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)©) or where an Administrator is appointed or an Administration Order is made ('Administrator' and 'Administration Order' having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act); © an Administrative Receiver (as defined by section 251 of the Insolvency Act), a Law of Property Act Receiver (appointed under section 109 of the Law of Property Act 1925) or any Receiver appointed by the Court under the Supreme Court Act 1981 or any other Receiver is appointed over any assets which, in the opinion of the Board is material to the Club's ability to fulfil its obligations as a Member Club; (d) shareholders passing a resolution pursuant to section 84(1) of the Insolvency Act to voluntarily wind up; (e) a meeting of creditors is convened pursuant to section 95 or section 98 of the Insolvency Act; (f) a winding up order is made by the Court under section 122 of the Insolvency Act or a provisional liquidator is appointed under section 135 of the Insolvency Act; (g) ceasing or forming an intention to cease wholly or substantially to carry on business save for the purpose of reconstruction or amalgamation or otherwise in accordance with a scheme of proposals which have previously been submitted to and approved in writing by the Board; (h) being subject to any insolvency regime in any jurisdiction outside England and Wales which is analogous to the insolvency regimes detailed in paragraphs (a) to (g) above; and/or (i) have any proceeding or step taken or any court order in any jurisdiction made which has a substantially similar effect to any of the foregoing.
tony13579 Posted 16 February, 2012 Posted 16 February, 2012 What's the difference between a "self-professed" millionaire and a normal one...? It means the paper could not substantiate his wealth. He is another potless tyre kicker. I can prove my assetts In half an hour.... As I said to Ho, I am wealthier than the people sniffing round the shell of PFC.
tony13579 Posted 16 February, 2012 Posted 16 February, 2012 @trousers Maybe they will do this at thier next scheduled meeting
Verbal Posted 16 February, 2012 Posted 16 February, 2012 It means the paper could not substantiate his wealth. He is another potless tyre kicker. I can prove my assetts In half an hour.... As I said to Ho, I am wealthier than the people sniffing round the shell of PFC. That leaves the question of your wealth little too open. Anyone on housing benefit could provide better evidence of long-term financial stability than the oddballs who keeping popping up down the road.
stevegrant Posted 16 February, 2012 Posted 16 February, 2012 The Football League's insolvency criteria copied and pasted below. Didn't they do (b) on Monday....?? (b) the lodging of a Notice of Intention to Appoint an Administrator[/b] or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)©) or where an Administrator is appointed or an Administration Order is made ('Administrator' and 'Administration Order' having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act); Sadly, I'm not entirely convinced that publicly saying "we're going to ask the court on Friday to allow us to enter administration" is the same as lodging a Notice of Intention to Appoint an Administrator. I suspect the latter has to be done in court. Also, I assume the rules on what constitutes an Insolvency Event have changed in recent years because Coventry DID lodge that particular Notice to the court a few years ago, giving it ten days to appoint someone, and on the final day, SISU rode in on their trusty steed to bail them out with their ill-thought-out business plan, bought the club and avoided a points deduction.
St Jim Posted 16 February, 2012 Posted 16 February, 2012 Oddly, I can't shake a disturbing vision out of my head today! It's of AA dancing around in the bedroom of his bedsit in his grey Y-fronts - A La Mr Bean! - infront of his mirror, singing in to his hairbrush 'I'm coming for you, I'm coming for yoooooouuuuuu, HMRC, I'm coming for you' Perhaps I should go for a long walk and get some fresh air Thanks a lot, now I can't get that image out of my head @
Weston Saint Posted 16 February, 2012 Posted 16 February, 2012 Trousers, there is a formal legal process when filing a notice of intent. It has to be served on interested parties. PFC have not undertaken that process so under FA rules they do not yet get the points deduction. They have gone for a straight application for Administration. If it is accepted by the Court they will get their -10. If it is not the WUP will be heard on 20th and if successful, which it will be if Admin previously refused, they will lose all their points and their golden share. Rangers filed a notice of intent on their interested parties. That is the fundemental difference. Be patient. It will come. No get on with some work!!!!!
trousers Posted 16 February, 2012 Posted 16 February, 2012 Sadly, I'm not entirely convinced that publicly saying "we're going to ask the court on Friday to allow us to enter administration" is the same as lodging a Notice of Intention to Appoint an Administrator. I suspect the latter has to be done in court. Also, I assume the rules on what constitutes an Insolvency Event have changed in recent years because Coventry DID lodge that particular Notice to the court a few years ago, giving it ten days to appoint someone, and on the final day, SISU rode in on their trusty steed to bail them out with their ill-thought-out business plan, bought the club and avoided a points deduction. Hmmm, fair enough...but Neil Allen (chief sports editor chappie at The News) posted this on Monday... Alan @todorov15042003 @pn_neil_allen COULD WE LOSE MORE THAN 10 POINTS ? Neil Allen@pn_neil_allen @todorov15042003 Lampitt is adamant it will be 10pts and these will be deducted before Friday. Ashley Brown@ashcb91 @pn_neil_allen what are the chances of us not being docked points? Neil Allen@pn_neil_allen@ashcb91 None. The lodging of administration order warrants 10 point deduction. But, there again, maybe he's making things up as he goes along like the rest of us.....
trousers Posted 16 February, 2012 Posted 16 February, 2012 Trousers, there is a formal legal process when filing a notice of intent. It has to be served on interested parties. PFC have not undertaken that process so under FA rules they do not yet get the points deduction. They have gone for a straight application for Administration. If it is accepted by the Court they will get their -10. If it is not the WUP will be heard on 20th and if successful, which it will be if Admin previously refused, they will lose all their points and their golden share. Rangers filed a notice of intent on their interested parties. That is the fundemental difference. Be patient. It will come. No get on with some work!!!!! Ok
Winchester Red Posted 16 February, 2012 Posted 16 February, 2012 (edited) I think it's unusual for a club to admit the admin intention before going to court to request it. Until the court approves the admin it's just a 'concept'. Therefore I think the points are deducted once approved and they have there 7-10 days to appoint the administrator (like Rangers). The courts might say no and then no deduction be applied. Of course they'd be in even bigger cr*p then though Thoughts? ......edit - beaten to it. Must learn to type quicker! Edited 16 February, 2012 by Winchester Red
Brizzie Saints Posted 16 February, 2012 Posted 16 February, 2012 SELF-PROCLAIMED multi-millionaire businessman Keith Gregory expressed his intent to take over Pompey – but wants to secure a deal ahead of tomorrow’s administration hearing. Mr Gregory, a relative of former Pompey chairmen Jim and Martin Gregory, says he has no interest in the club once it goes into administration. Pompey’s administration hearing will be held at the High Court in London tomorrow. Administration will lead to the club suffering a 10-point penalty in the Championship. ------------------------------------------------------------------------------------------------------------------- Aaaaaaarrrrggggghhhhhhhhhhhh.... Right, that's it, now I'm starting to get really annoyed... For the LAST AND FINAL TIME..... Pompey have ALREADY triggered the criteria for a 10 point penalty. They have given notice that they intend to seek the protection of administration. The Football league rules CLEARLY state that it's this declaration that triggers the 10 point penalty and NOT the act of going into administration itself. As such, even if Pompey ended up not going into administration tomorrow (either because they were bought out at the last minute or refused by the courts to go into administration) they would still be docked 10 points....according to the Football League rules. So, this chap saying he wants to get in before the 10 points are deducted is BUNKUM! Am I right or am I right? Well i reckon your right 'Insolvency Event' refers to any one of the following: (a) entering into a Company Voluntary Arrangement pursuant to Part 1 of the Insolvency Act, a Scheme of Arrangement with creditors under Part 26 of the 2006 Act, or any compromise agreement with its creditors as a whole; (b) the lodging of a Notice of Intention to Appoint an Administrator or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)©) or where an Administrator is appointed or an Administration Order is made ('Administrator' and 'Administration Order' having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act); 12.3.1 If any Club becomes subject to or suffers an Insolvency Event, that Club shall be deducted 10 points.
saint si Posted 16 February, 2012 Posted 16 February, 2012 Well i reckon your right 'Insolvency Event' refers to any one of the following: (a) entering into a Company Voluntary Arrangement pursuant to Part 1 of the Insolvency Act, a Scheme of Arrangement with creditors under Part 26 of the 2006 Act, or any compromise agreement with its creditors as a whole; (b) the lodging of a Notice of Intention to Appoint an Administrator or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)©) or where an Administrator is appointed or an Administration Order is made ('Administrator' and 'Administration Order' having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act); 12.3.1 If any Club becomes subject to or suffers an Insolvency Event, that Club shall be deducted 10 points. Isn't it this one that they've done: "an application to the Court for an Administration Order" ?
Weston Super Saint Posted 16 February, 2012 Posted 16 February, 2012 Well i reckon your right 'Insolvency Event' refers to any one of the following: (a) entering into a Company Voluntary Arrangement pursuant to Part 1 of the Insolvency Act, a Scheme of Arrangement with creditors under Part 26 of the 2006 Act, or any compromise agreement with its creditors as a whole; (b) the lodging of a Notice of Intention to Appoint an Administrator or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)©) or where an Administrator is appointed or an Administration Order is made ('Administrator' and 'Administration Order' having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act); 12.3.1 If any Club becomes subject to or suffers an Insolvency Event, that Club shall be deducted 10 points. As it says in their rules, the lodging must be done AT THE COURT. They are doing this tomorrow, so the points will come off tomorrow! The way I read it, they will come off whether that lodging is successful or not.....
Clapham Saint Posted 16 February, 2012 Posted 16 February, 2012 I think it's like this trousers. FC: We want to let you know we are going to apply to go into administration FL: OK, you know that this will trigger -10 points. FC: Yup FL: But we dont take 'em off you yet. FC: OK? FL: Yeah, we will wait until it actually happens. If you do end up appointing an administrator, we will then take your points away. If, by some miracle, you dont end up going into administration we can rescind the deduction. Got that? FC: Ah, nice one dudes. A notice of intention to appoint administrators is a formal document which gets filed at court giving imeadiate protection from creditors for 10 workings days. This is usually followed by the appointment of an administrator whithin that period (as happened at Rangers) The 10 point deduction is a result of having received the legal protection from creditors. P*mpey haven't filed a notice of intention. They've just announced to reporters that they intend to apply to court, which isn't the same thing. Chinney doesn't have a floating charge over the assets of the club (or he would be able to appoint an administrator directly). He has a charge over the assets of CSI - one of which is the shareholding in the club. The application to court is being made by the directors (or at least I presume so).
saint si Posted 16 February, 2012 Posted 16 February, 2012 Sorry, I really think we're focusing on the wrong part of the clause. (b) the lodging of a Notice of Intention to Appoint an Administrator or Notice of Appointment of an Administrator at the Court in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the Insolvency Act, an application to the Court for an Administration Order under paragraph 12 of Schedule B1 to the Insolvency Act (other than paragraph 12(1)©) or where an Administrator is appointed or an Administration Order is made ('Administrator' and 'Administration Order' having the meanings attributed to them respectively by paragraphs 1 and 10 of Schedule B1 to the Insolvency Act); From the PFC statement on their website. Portsmouth Football Club today made an application to the High Court to go into administration.
trousers Posted 16 February, 2012 Posted 16 February, 2012 From the PFC statement on their website. Portsmouth Football Club today made an application to the High Court to go into administration. Ah, well there you go. So, either I was right afterall or PFC are being deceptive...Hmmm, tricky choice there...
Cascadia Saint Posted 16 February, 2012 Posted 16 February, 2012 It's now my birthday, and it's 3 in the morning, I've had a decent amount of red wine, and I have a craving for toast in the morning. I truly don't mind waiting an extra day though... Hell, I could wait until Monday.
holepuncture Posted 16 February, 2012 Posted 16 February, 2012 It means the paper could not substantiate his wealth. He is another potless tyre kicker. I can prove my assetts In half an hour.... As I said to Ho, I am wealthier than the people sniffing round the shell of PFC. The man is one hell of a grafter for a "self professed" mill-yon-air... traipsing up and down Hampstead punting his leather jackets This Gregory chap is the latest smokescreen to mug off the courts, AAs trump card to woo the judge into giving the plucky cheats another reprieve. He has come out of nowhere and instantly starts bleating "give the skates a points deduction and im not investing [my leather]" - more spin and blackmail by the administrator. I am thoroughly looking forward to reading more about this leather jacket entreprenuer and how flogging apparel on the pavement is the new way to amass a fortune - all those global retailers have been doing it wrong all this time! Roll up roll up, Mr Krabbs has left the building and now its all about the leather Although I suspect and hope that Gregory looks like this fellow Really looking forward to yet another day back in the courtroom for poopey tomorrow, its going to be great. Watching a snippet of Limpitt trying to absolve himself of all responsibility on SSN last night, I got the impression he is now at war with the Chinny. I suspect he has gone against Chinnys orders to asset strip the skates in January, I also suspect he is finally realising the consequences of getting in bed with criminals and viscious loan sharks. Chinny will murder pompey without remorse and Lampitt is going for administration to stop him going straight to liquidation. Fair play to Lampitt, he can see whats going on (does he read the thread?) and is doing what he can to stop the creditors getting completely shafted... or am I being too kind? And the sweetest part of this recent chapter? ... Chainrai aint going nowhere, whatever the outcome. Administration = Chinny is secured and floats all over the clubs assets, Liquidate = Chinny owns the stadium and values it at £17m. Chinny is here to stay, untill he has every single penny back from the Gadymack family after they reneged on his and Kushnairs deal in Israel - and every penny means every penny, a loan shark cant be seen to be going soft now. ''Every penny or I pull the trigger, and tell ms mordant to pull her knickers back up - that aint gonna wash as collateral, not even to HMRC let alone my tax haven empire.'' It has been said plenty of times before... who is writing this script? Every chapter has "taken us to a level you wouldnt quite believe" PMSL COYCHINNY
Brizzie Saints Posted 16 February, 2012 Posted 16 February, 2012 33 [h=3]blueshirt[/h] Thursday, February 16, 2012 at 09:57 AM If this bloke had any genuine interest or intent in being a potential buyer for the club, he'd have come forward and made himself known to the administrators. What sort of a business man appears hours before the administration hearing and says "I want to buy the club before administration becomes effective, because if the club is docked points as a result of the administration, I won't want to buy it?" Is there anyone else on the planet , apart from that nice mr Andronikou( being sarcastic there!!) who really thinks this man is the real deal?? what a choice we've had, Boris the Bent Banker, the man from Atlantis and now Lederhosen Larry, the Leatherman from London.......All we need now is Lex Luthor or The Penguin to complete the set......at least we know for certain THEY'RE fictional..although it must be said, the last two ARE somewhat more beleiveable than Andronikou's assortment........
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