hypochondriac Posted 21 February, 2012 Share Posted 21 February, 2012 In fairness, they have more of a chance of finishing 17th. FAF. Biggest LOL on this thread! Link to comment Share on other sites More sharing options...
Wes Tender Posted 21 February, 2012 Share Posted 21 February, 2012 Glad you're coming around to the idea that the club has suffered at the hands of the chancers who have owned it. It's taken you long enough to agree with what I've been saying but well done for finally coming out in agreement. Au contraire, Corpse. Most on here have been pretty clued up on the list of chancers who have bled your club dry, attracted like flies to the steaming pile of sh*t that is your poxy little club. We all know about the gun-runner, the fake sheik, the non-existent sheik, the loan shark and the Russian Mafia. We also acknowledge the part played by those such as Storrie and Daniel Azougy. So if you reckon that we are just coming around to realising this, then you obviously haven't been paying much attention. Or is it that you have difficulty in comprehending the English language. Most on here seem to be quite capable of expressing their thoughts in a fairly lucid fashion and have commented on these parasites of yours pretty well as they appeared on the scene. Just as a matter of interest; why do you think your poxy little club attracts such characters? Link to comment Share on other sites More sharing options...
dubai_phil Posted 22 February, 2012 Share Posted 22 February, 2012 FFS I go to SMS to see us demolish Derby, get home & 17 new pages. Oh well that's tomorrow morning taken care of then Link to comment Share on other sites More sharing options...
TopGun Posted 22 February, 2012 Share Posted 22 February, 2012 The new administrator is going to play it by the book. That will be their downfall, they just don't realise it yet! TB seems to be indicating that there is £2m to run the club until the end of the season unless they get new cash or creditors take it easy. But that's not enough. I hope TB won't go native like the previous lot but I can't see it happening. Link to comment Share on other sites More sharing options...
Ohio Saint Posted 22 February, 2012 Share Posted 22 February, 2012 I see we're not far off page 1111. This rare numerical alignment only happens once every 7 Pompey Takeovers so make sure you don't miss it. Could be 2 or 3 years before the next time then! Link to comment Share on other sites More sharing options...
Dark Munster Posted 22 February, 2012 Share Posted 22 February, 2012 By Neil Allen Published on Tuesday 21 February 2012 09:10 ‘It is not necessarily rocket science, if everyone demands their money we cannot continue.’ Come on everyone. Demand your money. Now! Link to comment Share on other sites More sharing options...
Saint Paul C Posted 22 February, 2012 Share Posted 22 February, 2012 I don't think he really exists. Nobody could really be as unpleasant and as stupid as he appears to be. I think he has been invented by baj to get us all to read the Saints web. TBH where else could we get the same amount of laughs as Corp gives us for just £5 a year? This is what CH looks like... it's not a person it's a bot.. This is why CH only get's 3 posts a day - the CH bot can only manage this level of inaccuracy and blinding stupidity that few times. The rest of the stuff it comes out with makes a lot more sense. :-) Link to comment Share on other sites More sharing options...
Minsk Posted 22 February, 2012 Share Posted 22 February, 2012 Glad you're coming around to the idea that the club has suffered at the hands of the chancers who have owned it. It's taken you long enough to agree with what I've been saying but well done for finally coming out in agreement. /QUOTE] Talk about re-writing history!!! When each of your dodgy new owners have appeared on the scene thet have been outed on here as such, with YOU defending them to the hilt!! e.g. DP said Fahim was potless, you said he was richer than Abramovich; we said Antonov was dodgy, you said he was legit; etc, etc. Question for you Rosie, where were the demonstartions when these characters were announced as possible new owners? After all, you have been right about them all along and POL is always 3 steps ahead of us!! Link to comment Share on other sites More sharing options...
trousers Posted 22 February, 2012 Share Posted 22 February, 2012 Come on everyone. Demand your money. Now! Suppliers demanding that a customer pays their bills on time? What a novel business concept. Can't see Pompey falling for that one... :-) Link to comment Share on other sites More sharing options...
dronskisaint Posted 22 February, 2012 Share Posted 22 February, 2012 I'd like to dedicate my 10,000th post to Corp, sat in his p1ss-ridden chair, dribbling all over his Pompey shirt as he soils himself over Saints 2009/10 accounts. That's a nice thing to do...and a horrible image! Link to comment Share on other sites More sharing options...
norwaysaint Posted 22 February, 2012 Share Posted 22 February, 2012 Pompey player finally gets paid! Sadly it's just Huseklepp who has finally been paid by his last club, Bari, who were also in financial difficulty and not paying their players. He really wins the prize for not looking where he's going, doesn't he? According to Bergens Tidende today, Bergen Brann are still waiting for money from Bari, but Bari are still waiting for their money from Portsmouth... Link to comment Share on other sites More sharing options...
trousers Posted 22 February, 2012 Share Posted 22 February, 2012 @TonyHusbandBBC: #pompey Chainrai may never get his £17m back despite his debentures on FP. Full story on @bbcradiosolent this morning. @TonyHusbandBBC: #pompey Irony is that Chainrai's best hope of protecting his investment would be to buy club again. Now, that would make me chuckle... Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 22 February, 2012 Share Posted 22 February, 2012 Unbelievable... Hope its one of us! 21 February 2012 at 04:45 PM Amesbury Blu I thinks it`s high time the FL let us know if we are going to be allowed these players in on loan as w cannot be expecte to play what we have and the nippers as its not fair the fratton faithful will not except a 2nd rate team if we are going to make the playoffs. surely a few £1000 extra on wages wont make much difference on the overall debt as it will be paid as its footbal debt and we can take it of the rest of the other debtors Guilty..thing is how many of the phew agree Link to comment Share on other sites More sharing options...
dronskisaint Posted 22 February, 2012 Share Posted 22 February, 2012 I have a sort of empathy with him. Link to comment Share on other sites More sharing options...
trousers Posted 22 February, 2012 Share Posted 22 February, 2012 @pn_neil_allen: Interesting to see Birch open to possibility of #Pompey Trust ownership and already met board members. AA wouldn't give them time of day. Link to comment Share on other sites More sharing options...
dronskisaint Posted 22 February, 2012 Share Posted 22 February, 2012 @TonyHusbandBBC: #pompey Chainrai may never get his £17m back despite his debentures on FP. Full story on @bbcradiosolent this morning. @TonyHusbandBBC: #pompey Irony is that Chainrai's best hope of protecting his investment would be to buy club again. Now, that would make me chuckle... Dare I suggest 2000 pages? The gift, the comedy... Link to comment Share on other sites More sharing options...
FarehamRed Posted 22 February, 2012 Share Posted 22 February, 2012 @TonyHusbandBBC: #pompey Chainrai may never get his £17m back despite his debentures on FP. Full story on @bbcradiosolent this morning. @TonyHusbandBBC: #pompey Irony is that Chainrai's best hope of protecting his investment would be to buy club again. Now, that would make me chuckle... Chuckle? That would be priceless! BC buys club for £1 to protect his £17,000,000 debt. And continues to bleed the blue few dry for years to come. Almost as good as liquidation! Link to comment Share on other sites More sharing options...
Pugwash Posted 22 February, 2012 Share Posted 22 February, 2012 Pompey player finally gets paid! Sadly it's just Huseklepp who has finally been paid by his last club, Bari, who were also in financial difficulty and not paying their players. He really wins the prize for not looking where he's going, doesn't he? According to Bergens Tidende today, Bergen Brann are still waiting for money from Bari, but Bari are still waiting for their money from Portsmouth... LOL. You couldn't make it up! Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 22 February, 2012 Share Posted 22 February, 2012 http://www.portsmouth.co.uk/sport/pompey/pompey-past/doubts_are_raised_about_chainrai_s_17m_hold_over_pompey_1_3545992 By Joe Nimmo Published on Wednesday 22 February 2012 08:34 POMPEY’S administrator has cast doubt on Balram Chainrai’s financial hold over the club. Trevor Birch said there could potentially be ‘doubts’ surrounding some aspects of a £17m debt – called a debenture – held by the Hong Kong businessman’s company Portpin. He voiced his concern as former administrator Andrew Andronikou made a complaint to Institute of Chartered Accountants over his appointment, claiming he should not have been given the role due to a conflict of interest. Discussing the debenture Mr Birch said: ‘That will be reviewed by me for its validity. We’ll have lawyers that will look at it and examine the transactions and we will see where it goes from there. There are aspects of it which might raise doubts.’ Mr Birch’s firm, PKF, advised on the takeover of Portsmouth in June by CSI and carried out due diligence before it bought the club. The firm was then appointed auditor to Portsmouth and submitted an invoice of £20,000 to the club for that work. But in the High Court a judge considered the issue and decided there was no conflict of interest. ‘HMRC approached me to be Portsmouth’s administrator,’ Mr Birch said. ‘We are satisfied there is no conflict and now want to do our best to sort out the problems at the club.’ Link to comment Share on other sites More sharing options...
Pugwash Posted 22 February, 2012 Share Posted 22 February, 2012 It's about time someone did one of those 'Sgt Pepper's' album covers with the faces of all the Cutthroats, Crooks and Conmen that have been involved with PFC. Or isn't there enough people on the album cover? Link to comment Share on other sites More sharing options...
rallyboy Posted 22 February, 2012 Share Posted 22 February, 2012 Band on the Run might be more apt. Link to comment Share on other sites More sharing options...
OldNick Posted 22 February, 2012 Share Posted 22 February, 2012 @TonyHusbandBBC: #pompey Chainrai may never get his £17m back despite his debentures on FP. Full story on @bbcradiosolent this morning. @TonyHusbandBBC: #pompey Irony is that Chainrai's best hope of protecting his investment would be to buy club again. Now, that would make me chuckle...BC will rue not pulling the plug on them, at least he would have got most of his money back. I suspect TB is looking very closely at the paperwork regarding BC's 17m and if he could somehow lose that debt Pompey would become saleable to the trust. I think it is the crux of the whole deal. Old Tiny Tears thinks that BC did not save them, all those plastic fumes he sucks in as he stacks the shelves is taking a toll. If BC had not helped by investing/giving a loan (when the rest of the world were not interested) Pompey were dead. For that act Im delighted if BC loses his money, I'll just as pleased if AA also gets his cumuppence as his manoevours also saved them. if a firm like TB had come in originally they would be gone by now,AA and BC who are now seen by them as villains really should be seen as Pompey heroes. They helped them carry on their cheating and Wigan of the South are still breathing Link to comment Share on other sites More sharing options...
Pugwash Posted 22 February, 2012 Share Posted 22 February, 2012 Band on the Run might be more apt. There's definitely NOT enough people on that album cover... Link to comment Share on other sites More sharing options...
anothersaintinsouthsea Posted 22 February, 2012 Share Posted 22 February, 2012 @TonyHusbandBBC: #pompey Chainrai may never get his £17m back despite his debentures on FP. Full story on @bbcradiosolent this morning. @TonyHusbandBBC: #pompey Irony is that Chainrai's best hope of protecting his investment would be to buy club again. Now, that would make me chuckle... Surely if Birch did the due diligence for CSI when they bought Pompey then he would already have alerted them that the debenture was dodgy? Birch may inspire more confidence than Android but he's also playing some games here f'sure. Link to comment Share on other sites More sharing options...
Pancake Posted 22 February, 2012 Share Posted 22 February, 2012 It's about time someone did one of those 'Sgt Pepper's' album covers with the faces of all the Cutthroats, Crooks and Conmen that have been involved with PFC. Or isn't there enough people on the album cover? Ha ha, god I hope Ive got the original .psd file from the Saints Takeover Band one. Link to comment Share on other sites More sharing options...
sidthesquid Posted 22 February, 2012 Share Posted 22 February, 2012 Surely if Birch did the due diligence for CSI when they bought Pompey then he would already have alerted them that the debenture was dodgy? Birch may inspire more confidence than Android but he's also playing some games here f'sure. You may be right - a bit of 'You don't rock the boat over who gets to be Admin & we won't do likewise over your boss's debenture'. Link to comment Share on other sites More sharing options...
hypochondriac Posted 22 February, 2012 Share Posted 22 February, 2012 It's about time someone did one of those 'Sgt Pepper's' album covers with the faces of all the Cutthroats, Crooks and Conmen that have been involved with PFC. Or isn't there enough people on the album cover? Someone did one for sfc when we had our troubles. Link to comment Share on other sites More sharing options...
hypochondriac Posted 22 February, 2012 Share Posted 22 February, 2012 Selling to the Pompey trust may actually be the funniest of all. Imagine the horror if we had done something similar. A group of reactionary fans running a championship club with no money. They will be ecstatic of course, saying how the club has been returned to the fans but I would predict major failure in this scenario. Would be terribly funny to watch though. Link to comment Share on other sites More sharing options...
Weston Saint Posted 22 February, 2012 Share Posted 22 February, 2012 As I understand it, Chanrai has a charge on certain aspects of the club for £17m. The Administrator can look at the "market value" of that aspect of the charge. Say it is only valued at £10m on the open market, that is the extent of Chanrai's charge as a secure creditor. The other £7m is unsecure and he takes his chances with the rest. Suddenly the club looks a little more saleable!! Conspiracy theory - AA was looking after Chanria's interest only rather that all the creditors!! If the value of his charge proves to be less that £17m it may have legs. Thoughts from our resident experts. Link to comment Share on other sites More sharing options...
saint si Posted 22 February, 2012 Share Posted 22 February, 2012 Selling to the Pompey trust may actually be the funniest of all. Imagine the horror if we had done something similar. A group of reactionary fans running a championship club with no money. They will be ecstatic of course, saying how the club has been returned to the fans but I would predict major failure in this scenario. Would be terribly funny to watch though. This. Times a million. Scenario A - no money is injected in to the club and it is forced to live within its means. Ends up somewhere down in League Two, playing in front of 5k every week. Scenario B - after a couple of years of not very much, they are dazzled by a foreign businessmen who promises untold riches, arena redevelopment and a set of superstar footballers. This time they are sure it's the real deal. Pompey Takeover Saga Mk2 thread is promptly fired up on the forum... Link to comment Share on other sites More sharing options...
miserableoldgit Posted 22 February, 2012 Share Posted 22 February, 2012 It's about time someone did one of those 'Sgt Pepper's' album covers with the faces of all the Cutthroats, Crooks and Conmen that have been involved with PFC. Or isn't there enough people on the album cover? Interesting that the background lighting is a familiar shade of blue!! Link to comment Share on other sites More sharing options...
trousers Posted 22 February, 2012 Share Posted 22 February, 2012 As I understand it, Chanrai has a charge on certain aspects of the club for £17m. The Administrator can look at the "market value" of that aspect of the charge. Say it is only valued at £10m on the open market, that is the extent of Chanrai's charge as a secure creditor. The other £7m is unsecure and he takes his chances with the rest. Suddenly the club looks a little more saleable!! Conspiracy theory - AA was looking after Chanria's interest only rather that all the creditors!! If the value of his charge proves to be less that £17m it may have legs. Thoughts from our resident experts. So all Birch has to do over the next few weeks in run the 'stadium' down so much that it ends up looking like a derelict building worth tuppence....? If only they'd have fixed the toilets....it would have made Birch's task almost impossible.... ;-) Link to comment Share on other sites More sharing options...
angelman Posted 22 February, 2012 Share Posted 22 February, 2012 Chin lends PFC £17m and takes security in the form of the ground, thus valuing the ground at £17m. As Weston states, the market value might write this down - is that the situation? What then happens, if it does transpire that Tesco's has offered £20m for the site? IF that is the case, then surely that is the market value and the £17m is, for Chin, safe and not to be downgraded. Link to comment Share on other sites More sharing options...
saint si Posted 22 February, 2012 Share Posted 22 February, 2012 Chin lends PFC £17m and takes security in the form of the ground, thus valuing the ground at £17m. As Weston states, the market value might write this down - is that the situation? What then happens, if it does transpire that Tesco's has offered £20m for the site? IF that is the case, then surely that is the market value and the £17m is, for Chin, safe and not to be downgraded. Agree. I owe X on my mortgage. That doesn't change if the market value of my house goes up or down. Link to comment Share on other sites More sharing options...
Faz Posted 22 February, 2012 Share Posted 22 February, 2012 As I understand it, Chanrai has a charge on certain aspects of the club for £17m. The Administrator can look at the "market value" of that aspect of the charge. Say it is only valued at £10m on the open market, that is the extent of Chanrai's charge as a secure creditor. The other £7m is unsecure and he takes his chances with the rest. Suddenly the club looks a little more saleable!! Conspiracy theory - AA was looking after Chanria's interest only rather that all the creditors!! If the value of his charge proves to be less that £17m it may have legs. Thoughts from our resident experts. Surely Chinny will tie them up in litigation for years. And it raises the prospect of him joining forces on the unsecured element with HMRC to vote against any CVA. Oh the ironing. Link to comment Share on other sites More sharing options...
Weston Saint Posted 22 February, 2012 Share Posted 22 February, 2012 Chin lends PFC £17m and takes security in the form of the ground, thus valuing the ground at £17m. As Weston states, the market value might write this down - is that the situation? What then happens, if it does transpire that Tesco's has offered £20m for the site? IF that is the case, then surely that is the market value and the £17m is, for Chin, safe and not to be downgraded.But no supermarket will get planning. The Council say it has to be used for leisure purposes so any value will reflect that. Tesco's will not purchase it to run it as a football stadium! Link to comment Share on other sites More sharing options...
Weston Saint Posted 22 February, 2012 Share Posted 22 February, 2012 Agree. I owe X on my mortgage. That doesn't change if the market value of my house goes up or down. Say you have a mortgage charge of £100,000 but the property market collapses or something happens in your area to reduce the property value. You go bust. The Mortgage company take your house back, sell it for £80,000. You still owe them £20,000 so they become an unsecure creditor for the rest. Their security is only on your house, not its contents or other assets you might have. Link to comment Share on other sites More sharing options...
miserableoldgit Posted 22 February, 2012 Share Posted 22 February, 2012 Has the clown/tramp/lunatic been banned from Twitter now?? Link to comment Share on other sites More sharing options...
stevegrant Posted 22 February, 2012 Share Posted 22 February, 2012 Conspiracy theory - AA was looking after Chanria's interest only rather that all the creditors!! I'd be inclined to say that is nearer a fact than a conspiracy theory, to be honest. But no supermarket will get planning. The Council say it has to be used for leisure purposes so any value will reflect that. Tesco's will not purchase it to run it as a football stadium! If there is no football club to play there, the council wouldn't give it a moment's thought before revoking the "leisure only" covenant on the land. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 22 February, 2012 Share Posted 22 February, 2012 Good to see our Rickie and Adam in the top 3 shortlist for Championship Player of the Year. However, look to League 2's shortlist, and the fallacy of 'quality over quantity' becomes perfectly clear to the blue phew... npower League 2 Player of the Year (voted for by Football League club managers) Marlon Pack - Cheltenham Town Tyrone Barnett - Crawley Town (now on loan at Peterborough United) Matt Ritchie - Swindon Town Alas, deemed not good enough by Cotterill and Lampitt, they seem to be doing quite well. And they may have done well for Poopey too this season. Reap what ye sow, fish fiddlers. Link to comment Share on other sites More sharing options...
tony13579 Posted 22 February, 2012 Share Posted 22 February, 2012 Say you have a mortgage charge of £100,000 but the property market collapses or something happens in your area to reduce the property value. You go bust. The Mortgage company take your house back, sell it for £80,000. You still owe them £20,000 so they become an unsecure creditor for the rest. Their security is only on your house, not its contents or other assets you might have. No If you go bankrupt your debts part paid and the rest get written off. and you are banned from credit for 7 years. You are discribing the situation when you post the keys back through the letterbox. If Pompey had a Winding up order the same would happen as a person going bankrupt. The debentures would become only worth the curent market value of the assets. Link to comment Share on other sites More sharing options...
St Jim Posted 22 February, 2012 Share Posted 22 February, 2012 Chin lends PFC £17m and takes security in the form of the ground, thus valuing the ground at £17m. As Weston states, the market value might write this down - is that the situation? What then happens, if it does transpire that Tesco's has offered £20m for the site? IF that is the case, then surely that is the market value and the £17m is, for Chin, safe and not to be downgraded. Tesco won't offer that though because they'd need the whole site and not just the ground, so 20m would be split between Chinny & Gayboy. Think of it like a mortgage, Joe Public (PFC in this case) borrows 17m from a bank (in this case Chinny), for what ever reason they need the cash, but puts up their house (in this case aspects of the club including the ground) as security and Joe Public has his house conveniently valued by a dodgy valuation surveyor (in this case Android) who determines that ironically the value of the house is equal to the loan. Suddenly the ar53 falls out of the housing market and the bank decides to send in a reputable valuation surveyor (in this case Birch) and they officially value the house at 10m. That means that because the Bank's loan to Joe Public is secured by the house, only 10m is a secured debt whereas the remaining 7m is unsecured. Now say Tesco wanted to buy the house because they wanted to put a store on the site, and they offered 20m, if that offer is rejected (for what ever reason), unless the reputable valuation surveyor agrees with Tesco's valuation or if it is indeed sold for 20m then the value on the books remains at what every the reputable valuation surveyor initially decided. Of course what ever value Birch puts on the security for Chinny's loan I'm sure Chinny may look to challenge it (if the valuation is decreased) in the courts. All that will do will delay any interested buyers meaning the club gets into more debt and gives us all more enjoyment Link to comment Share on other sites More sharing options...
saintjay77 Posted 22 February, 2012 Share Posted 22 February, 2012 But no supermarket will get planning. The Council say it has to be used for leisure purposes so any value will reflect that. Tesco's will not purchase it to run it as a football stadium! But the point is, depending on if the offer is legit of course, £20 million has been offered for the site which puts the value at or around the same. It would take a massive and complex chain of events for a supermarket to be able to build on that site for sure and that's what makes that idea highly Un-likely but on paper it's their so there is room for the argument. What you said in your other post makes sence though. £17 may well be owed but there could well be a case to argue how much is secured and how much isn't. What will chainrai do next? Challenge anything TB says? Look to cut losses and walk away? Or pile in and buy the club back thinking he can get his money back later on? Link to comment Share on other sites More sharing options...
saintjay77 Posted 22 February, 2012 Share Posted 22 February, 2012 Has the clown/tramp/lunatic been banned from Twitter now?? Who's that? Link to comment Share on other sites More sharing options...
Weston Saint Posted 22 February, 2012 Share Posted 22 February, 2012 If there is no football club to play there, the council wouldn't give it a moment's thought before revoking the "leisure only" covenant on the land. But it will be based present value in the open market without planning blessing. Link to comment Share on other sites More sharing options...
Jimmy_D Posted 22 February, 2012 Share Posted 22 February, 2012 I'm guessing they'll have no interest at all while the validity of the £17M is being investigated. Link to comment Share on other sites More sharing options...
miserableoldgit Posted 22 February, 2012 Share Posted 22 February, 2012 Who's that? John Westwood @JohnPFCWestwood I need some friends! Am i the only crazy #pompey fan? Link to comment Share on other sites More sharing options...
Torres Posted 22 February, 2012 Share Posted 22 February, 2012 I believe that was also about the time he was trying to convince us that Antonov was as reputable banker and the new saviour to PFC and that he wasn't a chancer or trying to launder stolen money. Snoras couldn't possibly be dodgy because they were voted Best Bank In An Emerging Market by The Banker magazine, IIRC. Definite proof they were legit. Poor Steve Link to comment Share on other sites More sharing options...
Torres Posted 22 February, 2012 Share Posted 22 February, 2012 If Birch really wants to challenge Chinny debenture, bring it on. That'll have him tied up in more knots than Frank Bough. Look him up, kids. Link to comment Share on other sites More sharing options...
stevegrant Posted 22 February, 2012 Share Posted 22 February, 2012 If Birch really wants to challenge Chinny debenture, bring it on. That'll have him tied up in more knots than Frank Bough. Look him up, kids. *points and laughs* You're old Link to comment Share on other sites More sharing options...
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