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Pompey Takeover Saga


Fitzhugh Fella

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Doesn't sound good for them...

 

Judge comments that Mr Andronikou's claim that the club could break even in administration was 'patently optimistic'. He adds: 'it seems the club will trade at a loss'.

Straight for the throat with that one. It doesn't seem like Chuck needs to give them more time to provide any additional information to reach that conclusion.

 

So now all they have to do is convince him that continuing to trade at a loss will be better for the creditors than shutting up shop now. Easy peasy, off you go, Andy.

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Seriously ? 530 ? what on earth do they all do ? I have no clue what our payroll is but i'd be surprised if it was that many. Unless of course that includes matchday staff, but mostly they'd be agency wouldn't they ?

 

They have rent-a-supporter on the books, 500 out of work actors dress up and get paid to watch footie.

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Seriously ? 530 ? what on earth do they all do ? I have no clue what our payroll is but i'd be surprised if it was that many. Unless of course that includes matchday staff, but mostly they'd be agency wouldn't they ?

According to our accounts for the year ended 30th June 2010 (the latest available from Companies House), the average number of employees during the year was 214 (61 "administrative", 153 "football"). In addition, we employed around 250 temporary staff on matchdays.

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Comment From Penny

is David Cameron going to represent us in court today? He said he would do everything he can?

 

Ahem!.. shame 'Pack The Park' didnt get through! Just caught up on all the pages, this is brilliant!

 

Am I dreaming? If so, please dont wake me up.

 

What a fantastic morning, I do enjoy pompeys away days at the courts!

 

COYHMRC, your 12th man is right behind you!

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According to our accounts for the year ended 30th June 2010 (the latest available from Companies House), the average number of employees during the year was 214 (61 "administrative", 153 "football"). In addition, we employed around 250 temporary staff on matchdays.

 

Ta for that, so assuming say 250 full time, on say 15k average and assuming they've not been paid for two months either, thats another £625,000 unpaid (plus employer NI etc) . Thats a lot of assumptions but probably fair ones.

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Though CSI and PFC have been acting as a single entity for a while the list of creditors for both companies is different so its hard to see how the judge could approve of AA representing both sets when haggling over a single pot.

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Court to appoint administrator though. Probably worst outcome they could have

 

Or is it? Surely the worst outcome for PFC would have been AA as administrator, because Chinny would have continued to bleed the club dry for the parachute payments, a slow painful death. If the court appoint someone else the club either get wound up, (euthenasia), or Chinny's charges over the club get overturned as fraudulent.

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