OldNick Posted 17 February, 2012 Posted 17 February, 2012 the judge questions that they are running solvent and then allow them the protection of administration!!!
martyg1950 Posted 17 February, 2012 Posted 17 February, 2012 Surely being wound up was the worst ?? Well, could be interesting, if the court appoint a 'proper' admin practitioner, it will be the first set of fresh eyes on the books in a while. Whatever happened to that 'detailed forensic examination' that was supposed to have happened 2 years ago ? It prolongs the comedy at the very least
latter day saint Posted 17 February, 2012 Posted 17 February, 2012 hopefully the 20 points statement rings true !
Jimmy_D Posted 17 February, 2012 Posted 17 February, 2012 http://www.bbc.co.uk/sport/0/football/16943651
ooh it's a corner Posted 17 February, 2012 Posted 17 February, 2012 What do we reckon then? Baker Tilly for administrator? Nobody stepping forward to fund the adminsitration process? Baker Tilly will very quickly do the maths, realise that the risk lies with them, and pull the plug, voluntary liquidation during the early part of next week? Or am I wetting the bed?
Just a Fan Posted 17 February, 2012 Posted 17 February, 2012 So does this mean that they won't be wound up on Monday?
trousers Posted 17 February, 2012 Posted 17 February, 2012 the judge questions that they are running solvent and then allow them the protection of administration!!! Doesn't add up, does it?
JRM Posted 17 February, 2012 Posted 17 February, 2012 Daily Echo have the story next to a couple opening chamapagne :-) http://www.dailyecho.co.uk/
trousers Posted 17 February, 2012 Posted 17 February, 2012 Daily Echo have the story next to a couple opening chamapagne :-) http://www.dailyecho.co.uk/ This is funnier.... http://www.dailyecho.co.uk/news/9538302.Pompey_in_administration_again/?ref=fb
stevegrant Posted 17 February, 2012 Posted 17 February, 2012 Was the issue of how the period of administration is to be funded raised in court? Not seen any mention of it so far.
trousers Posted 17 February, 2012 Posted 17 February, 2012 Matt Slater @mattslaterbbc Great timing, Football League statement: “FL would like to clarify that at all times following its takeover of Portsmouth FC, CSI -& in particular Mr Antonov - complied with requirements of Owners’ & Directors’ Test as set out in FL regs"
Saint Keith Posted 17 February, 2012 Posted 17 February, 2012 who the administrator is going to be is the crux of this now
Gingeletiss Posted 17 February, 2012 Posted 17 February, 2012 the judge questions that they are running solvent and then allow them the protection of administration!!! Thought you'd be pleased, it fits in with your own scenario!
Weston Super Saint Posted 17 February, 2012 Posted 17 February, 2012 This is funnier.... http://www.dailyecho.co.uk/news/9538302.Pompey_in_administration_again/?ref=fb If that old Doris was a smart cookie, she'd have been demanding royalties! The amount of times she's been in print, she could probably buy the skates by now
sfc1971 Posted 17 February, 2012 Posted 17 February, 2012 SSN saying the argument is that the last admin was in a different league (PL...FFS) so points deduction should be 10. Madness.... Did they get relegated whilst in admin = yes, did they enter the Championship in admin = yes, did they exit admin and agree a CVA whilst in Championship = yes. Quite simple then 2 admins in two years whilst in the Championship, DOCK THE CHEATS 20 PTS NOW !!!
K,Billy's supersound Posted 17 February, 2012 Posted 17 February, 2012 make it -30 for having the cheek to argue
trousers Posted 17 February, 2012 Posted 17 February, 2012 If that old Doris was a smart cookie, she'd have been demanding royalties! The amount of times she's been in print, she could probably buy the skates by now Yeah, but think of all that image rights tax she would now owe....
trousers Posted 17 February, 2012 Posted 17 February, 2012 Emma Judd @pn_Emma_Judd Hang on all of you, just writing a story for the web. Football League not picking up phone
Give it to Ron Posted 17 February, 2012 Posted 17 February, 2012 I think HMRC have done it again for the 3rd time and cocked this up with the -20 comment - the FL will now say we won't be dictated to and its -10 because.....or then again Corp Ho may be right and it will be 0 :-)
latter day saint Posted 17 February, 2012 Posted 17 February, 2012 If that old Doris was a smart cookie, she'd have been demanding royalties! The amount of times she's been in print, she could probably buy the skates by now had to wheel her out again
tony13579 Posted 17 February, 2012 Posted 17 February, 2012 could HMRC appoint Baker Tilley and then immidiatly wind them up?
Gingeletiss Posted 17 February, 2012 Posted 17 February, 2012 It's all gone very quiet.... Cue all the skate posters coming on here, giving large :x
Wibble Posted 17 February, 2012 Posted 17 February, 2012 According to SSN, HMRC want Trevor Birch as administrator http://www.yorkshirepost.co.uk/business/business-news/back_to_the_day_job_as_birch_finds_new_goal_1_3719481
Katalinic Posted 17 February, 2012 Posted 17 February, 2012 How the hell can they get administration? Surely this just means they'll try to reduce the CVA yet further then carry on spending? Can we expect 2 new loan signings today as well? Transfer embargo on clubs in admin surely?
ALWAYS_SFC Posted 17 February, 2012 Posted 17 February, 2012 could HMRC appoint Baker Tilley and then immidiatly wind them up? Just how good would that be
SO16_Saint Posted 17 February, 2012 Posted 17 February, 2012 when will we find out how many points they're being deducted?
pedg Posted 17 February, 2012 Posted 17 February, 2012 I think HMRC have done it again for the 3rd time and cocked this up with the -20 comment - the FL will now say we won't be dictated to and its -10 because.....or then again Corp Ho may be right and it will be 0 :-) The statement from HMRC was they MIGHT get docked up to 20 points. It was not them dictating to the league what to do just telling the judge the sort of punishment the few might receive.
ooh it's a corner Posted 17 February, 2012 Posted 17 February, 2012 Trevor Birch at PKF is the HMRC preferred choice as administrator (sorry wibble beat me to it)
Channon's Sideburns Posted 17 February, 2012 Posted 17 February, 2012 MoanyPenny on Solent - get your comments to Alex Dyke...
stevegrant Posted 17 February, 2012 Posted 17 February, 2012 According to SSN, HMRC want Trevor Birch as administrator http://www.yorkshirepost.co.uk/business/business-news/back_to_the_day_job_as_birch_finds_new_goal_1_3719481 I'm led to believe he's a Saints fan
Toomer Posted 17 February, 2012 Posted 17 February, 2012 All we want is Forest, Donny or Cov to go on a run now.
trousers Posted 17 February, 2012 Posted 17 February, 2012 Sarah Gomme @sarahgommeITVInteresting that FA allow Antonov to buy Pompey -as a fit & proper person - & club could now lose up to 20 points as 'punishment.' Thoughts?
Katalinic Posted 17 February, 2012 Posted 17 February, 2012 I'm led to believe he's a Saints fan Now that would be funny.
Katalinic Posted 17 February, 2012 Posted 17 February, 2012 Since when did rule and common sense apply in this case? Still seeing fans of other championship clubs wishing them well, wider football has absolutely no clue what they've done and continue to do. You would expect a proper administrator to get out the high wage earners out on loan, or terminate contracts asap.
trousers Posted 17 February, 2012 Posted 17 February, 2012 (edited) I'm led to believe he's a Saints fan Corporate Recovery Specialist Trevor Birch joins PKF 25 August 2011: PKF, the leading firm of accountants and business advisers, has appointed Trevor Birch to head up its London Corporate Recovery and Insolvency team. An insolvency and restructuring specialist, Trevor began his career at Arthur Young in Liverpool in 1983 and was promoted to partner in the firm, by then known as Ernst & Young, in 1993. He subsequently led the firm’s Northern corporate recovery practice. Trevor left Ernst & Young in 2002 to become chief executive of Chelsea Football Club, where he brokered Roman Abramovich’s £140 million takeover of the club. After leaving Chelsea, Trevor, a former professional footballer, undertook other quasi-restructuring roles in the football industry, serving as chief executive of Leeds United, Everton, Derby County and, most recently, Sheffield United. http://uk.linkedin.com/pub/trevor-birch/3a/131/8b8 Edited 17 February, 2012 by trousers
for_heaven's_Saint Posted 17 February, 2012 Posted 17 February, 2012 I'm led to believe he's a Saints fan In October 2007 Birch left Derby County. He was lined up to be the new Southampton Chairman heading the new regime if the proposed takeover from Daniel Williams had materialised.
pedg Posted 17 February, 2012 Posted 17 February, 2012 Corporate Recovery Specialist Trevor Birch joins PKF 25 August 2011: PKF, the leading firm of accountants and business advisers, has appointed Trevor Birch to head up its London Corporate Recovery and Insolvency team. An insolvency and restructuring specialist, Trevor began his career at Arthur Young in Liverpool in 1983 and was promoted to partner in the firm, by then known as Ernst & Young, in 1993. He subsequently led the firm’s Northern corporate recovery practice. Trevor left Ernst & Young in 2002 to become chief executive of Chelsea Football Club, where he brokered Roman Abramovich’s £140 million takeover of the club. After leaving Chelsea, Trevor, a former professional footballer, undertook other quasi-restructuring roles in the football industry, serving as chief executive of Leeds United, Everton, Derby County and, most recently, Sheffield United. He definitely ticks the boxes in terms of knowing football inside out which would counter some of AA's arguments against him.
stevegrant Posted 17 February, 2012 Posted 17 February, 2012 In October 2007 Birch left Derby County. He was lined up to be the new Southampton Chairman heading the new regime if the proposed takeover from Daniel Williams had materialised. Dan Williams, ****ing hell, that's a blast from the past HelpMeRhonda
saint si Posted 17 February, 2012 Posted 17 February, 2012 Plenty of mileage in this saga! Who will be appointed? How many points will they lose? How is it going to work if the parent company (in admin) owns PFC2010 (in admin) - who gets to tell who what to do? Throw in Baker Tilley who are still trying to recover the money from the last CVA and you have 3 lots of insolvency practitioners all negotiating with each other Is Chainrai's charge going to be upheld? Will the administrator go for CVA+sale or liquidation? Will they even try and field a team tomorrow?! So much fun to be had...
Monk Posted 17 February, 2012 Posted 17 February, 2012 As Brian Clough once said: "You can all throw your medals in the bin because they were not won fairly."
Brizzie Saints Posted 17 February, 2012 Posted 17 February, 2012 He looks far too good to me, we need someone useless like AA
trousers Posted 17 February, 2012 Posted 17 February, 2012 Dan Williams, ****ing hell, that's a blast from the past HelpMeRhonda Small world and all that....
Um Bongo Posted 17 February, 2012 Posted 17 February, 2012 The old CVA has been reduced to 10p - Except they haven't told anyone about it!!!!!! **** lol. It just gets better. Can they even do that?
Thedelldays Posted 17 February, 2012 Posted 17 February, 2012 CVA reduced to 10p in the pound.... HMRC not consulted what so ever....pompey just started paying half what was originally agreed...many creditors not getting any money what so ever. they are cooked aren't they... still, the FA cup win was worth it eh
Winchester Red Posted 17 February, 2012 Posted 17 February, 2012 How can the FL allow that! They exited admin via a cva agreed with the creditors and then reduced it without telling them. That's got to be a mega points deduction
Katalinic Posted 17 February, 2012 Posted 17 February, 2012 CVA reduced to 10p in the pound.... HMRC not consulted what so ever....pompey just started paying half what was originally agreed...many creditors not getting any money what so ever. Just when you think nothing more even more hilarious can happen....
trousers Posted 17 February, 2012 Posted 17 February, 2012 Viewing the lounge = 324 Viewing the main Saints board = 185
Nellie Posted 17 February, 2012 Posted 17 February, 2012 SSN - Claim the original CVA has been reduced from 20p down to 10p in the pound. HMRC say that it's the first they have heard of it. FFS.
Matthew Le God Posted 17 February, 2012 Posted 17 February, 2012 The old CVA has been reduced to 10p - Except they haven't told anyone about it!!!!!! Surely that means a huge points deduction?
Recommended Posts