Pompey Takeover Saga

[hypochondriac]

To be fair, maybe the writer means "the fans have never cheated", which is true enough; fans get very little opportunity to cheat.

 

The fans profited from cheating and many showed no remorse and continue not to. Many actually feel they have been hard done by which is ridiculous.

[Stubby]

Saints fans (especially on this thread) remind me, in the loosest possible sense of course, of scientists working on a theory and the Skates remind me of Religious groups. Saints fans will look for hard evidence, proof and facts about a theory to do with Pompeys plight and will believe it until it can be fairly proved wrong. The Skates on the other hand just stick their fingers in their ears and say "Sha la la we can't hear you, we're right you're wrong, we're being cheated, greatest fans, PUP PPU".

 

Some Saints fans, like some scientists, can be sickeningly arrogant. Others can be quite reasonable.

 

Some Pompey fans, like some religious people, show loyalty to something they love. Others are deluded.

 

Some posters on this site talk in generalisations that make little sense.

 

IMHO

[OldNick]

I havent looked, but has anyone checked how many loan players were on the pitch last night, and if they kept to rules the rest of football adhere to? I would never be surprised if they played more than the legal amount and the FL turned a blind eye.

It would be karma if we have promotion guaranteed by the time we play Coventry and we can give them the 3 points by rolling over. Sadly I think even if we were the integrity that NA displays would make him not allow us to do so.

Pompey look as though they could well escape, although BC and Coventry will have to be overhauled. Pompey have a great chance though and as i said the other day on here they will fight like mad against us . We have a role to play in not get uptight if things do go our way early on.

[Gingeletiss]

I met a fairy today who granted me one wish. "I want to live forever," I said.

"Sorry," said the fairy, "That's the only wish I'm not allowed to grant."

"Fine," I said, "In that case, I want to die when Portsmouth stop cheating."

"You crafty git!" said the fairy.

[COMEONYOUREDS]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/end-of-season-that-s-when-it-gets-scary-at-pompey-1-3671970

 

Birch confirms CVA has failed with no points deduction, wtf?!

 

He said: ‘The CVA won’t be paid.

 

‘It’s failed because this company is now in administration and won’t be able to honour the agreement.

 

‘There will be no penalties to the club. The administration itself is a penalty with the 10 point deduction.

[trousers]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/end-of-season-that-s-when-it-gets-scary-at-pompey-1-3671970

 

Birch confirms CVA has failed with no points deduction, wtf?!

 

He said: ‘The CVA won’t be paid.

 

‘It’s failed because this company is now in administration and won’t be able to honour the agreement.

 

‘There will be no penalties to the club. The administration itself is a penalty with the 10 point deduction.

 

 

FFS! The Football League need to start getting serious about upholding the integrity of their competition!

 

So, let's get this straight Mr Birch..... you reckon you get extra penalty points for exiting Administration without a CVA yet you believe you should get no extra penalty points for exiting Administration with a CVA that you later screw up and throw in the bin?

 

In terms of the end result, what's the f***ing difference you blithering idiots? (Question to Birch & the FL)

Edited 28 March, 2012 by trousers

[trousers]

I havent looked, but has anyone checked how many loan players were on the pitch last night, and if they kept to rules the rest of football adhere to? I would never be surprised if they played more than the legal amount and the FL turned a blind eye.

.

 

As you imply, there's no point counting as they are Pompey and they can cheat with impunity.

[sussexsaint]

What it does do is dispel that article by Harry Harris last week that ' all was well and the future was secured'

[ALWAYS_SFC]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/end-of-season-that-s-when-it-gets-scary-at-pompey-1-3671970

 

Birch confirms CVA has failed with no points deduction, wtf?!

 

He said: ‘The CVA won’t be paid.

 

 

 

‘It’s failed because this company is now in administration and won’t be able to honour the agreement.

 

‘There will be no penalties to the club. The administration itself is a penalty with the 10 point deduction.

 

 

 

A wonderfull precedent to show the football world....go into admin agree a cva which swindles people out of money....come out of admin agreeing to pay the cva..

over spend AGAIN..go into admin AGAIN......get a paltry 10pt deduction.....state that the cva will not be paid.....get zero punishment from FL....carry on regardless..

if you survive and agree a cva jsut overspend again......run out of money....can`t pay....no problem just go into admin AGAIN...repeat as required...

 

THIS STORY CONFIRMS THAT THIS FILTHY, DISGUSTING,CHEATING LITTLE CLUB...MUST BE WOUND UP.....PLEASE LET IT BE SO

 

AND THE FL LEAGUE NEED TO HAVE A LONG HARD LOOK AT THE WAY THEY REGULATE THE LEAGUE......WAKE UP FL .....THIS CANNOT BE RIGHT AND JUST....

 

rant over!

Edited 28 March, 2012 by ALWAYS_SFC

[warsash saint]

Unbelievavble !! I like to hear the FL reasoning behing this. Very very dangerous precedence to take !

[COMEONYOUREDS]

What it does do is dispel that article by Harry Harris last week that ' all was well and the future was secured'

 

well we all knew that was ********. FL are giving them every chance though.. another email sent, they haven't replied to my last one re embargo yet

[Gemmel]

I personally don't think they are out of the woods yet with regard to relegation, but we will see.

 

As for what next season holds for them or potential points deductions, my two pennies worth is this. Whilst we laugh and joke about the FL being toothless and how pompey always get away with it, I am still quite sure the failed CVA will get a points deduction, whether that is this season or next I have no idea.

 

That's not born out of hope, (I really couldn't care about them now) but when you think back to how the points deductions for administration were bought about (leciester) then it's the only logical conclusion to this mess. There is however NO precedent of this (That I can find) but with the FL / FA putting such value on acheiving a CVA (Additional minus points if you don't) then if they fail to act, it undermines the whole process and leaves it open to abuse and almost an attractive option for dumping tens of millions of pounds worth of debt for a measley 10 point deduction. If they don't act, then there is nothing to stop clubs going into adminstration promising amounts they can never honour, to get the CVA through and then going back into admin to protect themselves and starting the whole process again.

 

I could well be wrong, but i can't see it. In many ways it is almost irrelevant anyway, unless the new owners are seriously rich, they will have no option but to cut their cloth accordingly and however long that takes, they will end up somewhere around a mid table league one team,, looking up in envy at us.

Edited 28 March, 2012 by Gemmel

[Gemmel]

This is just Birch putting presuure on the FL...... Think back to andriod assuring the blue few they will be takiing up the european place and sue if they are not allowed.

[johnnyboy]

Trevor Birch was on 5lives' wake up to money ( I think that's what its called ! ) this morning I half heard what he said due to being half asleep ! but its on the iplayer if anybody fancies a listen

[Joe Kirkup]

He didn't say anything of interest, mostly general talk about football finance. The one question he was asked about Pompey he gave the usual " I'm hopeful" but the tone of his voice was " no bloody chance"

[rallyboy]

The G Man is right - just because an administrator says there will be no points deduction means diddly squat - it's called the AA Way.

 

Let's remember - despite all the dodgy delays and confusion, at the moment the CVA is fully on track so there has been no need for the FL to even discuss it.

 

That changes on Sunday when Baker Tilly ask where the first payment is.

 

Monday morning the FL will be informed that the agreed CVA has failed.

 

If they choose to do nothing it will be ridiculous, and any credibility they had will be gone.

 

Will pompey have got away with it at that point?

Yes.

 

 

 

 

 

Then the four horsemen of CVA2 come clippety-clopping into town.

 

The chance of that being agreed by creditors must be pretty close to zero.

The child-maimer might even take action himself and withdraw access to his land making home games a little more complicated.

 

Even the FL can't pretend that exiting administration without an agreed CVA isn't an offence that attracts a hefty penalty.

 

Birch is just desperately buying time by deferring wages and CVA, but he's stacking up more debt.

 

And he's obviously worried about trying to sail a sinking ship through the choppy waters of a long penniless summer - a points penalty must be the last thing he's concerned about.

 

Meanwhile the search for an elusive lunatic with money to burn goes on.

[holepuncture]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/end-of-season-that-s-when-it-gets-scary-at-pompey-1-3671970

 

Birch confirms CVA has failed with no points deduction, wtf?!

 

He said: ‘The CVA won’t be paid.

 

‘It’s failed because this company is now in administration and won’t be able to honour the agreement.

 

‘There will be no penalties to the club. The administration itself is a penalty with the 10 point deduction.

 

They clearly have no shame, absolutely sickening.

 

it undermines the whole process and leaves it open to abuse and almost an attractive option for dumping tens of millions of pounds worth of debt for a measley 10 point deduction. If they don't act, then there is nothing to stop clubs going into adminstration promising amounts they can never honour, to get the CVA through and then going back into admin to protect themselves and starting the whole process again.

 

It is an absolutely scandalous situation and letting pompey shake it all off in this disgusting manner would set a frightening precedent indeed.

 

eg: Man Utd decide they have had enough of their £1bn debt... blow it off in a CVA and take -9 in 2012/13 season... rinse and repeat two seasons later to put the £1bn CVA into another CVA (a % of a %)... rinse and repeat until all the debt has gone.

 

I will pen a letter to the FL this afternoon asking for clarity. After all Bompey, Leeds et al were hammered for failing to exit their admins without a proper CVA.

 

DCFSBs

[Bearsy]

It is also worth noting that any one of the previous creditors can now revert back to the orginal amounts they were owed, (28 million in the case of HMRC) which would make it almost impossible to get 75% approval on a new CVA.

 

Is dat tru?

[CB Saint]

imfromthesouthWednesday, March 28, 2012 at 09:10 AM Could we do what Barcalona do, pay to attend training sessions? We could open Fratton Park over the summer and show training matches. It works two ways, we get to see all of what is coming through the academy and early judgement on new players. In return pompey take a little money. I reckon with the right backing we could take a devout 5,000 fans each week. If they make it affordable maybe more than that. It wouldn't need much policing because there wouldn't be any away fans. Also, In the summer all the kids are off school so Kids for £3 adults for £6. Supporters Trust.

 

Funniest thing I think I have ever read

[trousers]

The G Man is right - just because an administrator says there will be no points deduction means diddly squat - it's called the AA Way.

 

Let's remember - despite all the dodgy delays and confusion, at the moment the CVA is fully on track so there has been no need for the FL to even discuss it.

 

That changes on Sunday when Baker Tilly ask where the first payment is.

 

Monday morning the FL will be informed that the agreed CVA has failed.

 

Erm....but didn't AA sneak in a crafty 'get out' clause whereby the ONLY deadline is for the final CVA payment (sometime in 2013) and that all the dates for the staged payments prior to that are "aspirational" dates? I'm sure someone has posted the exact CVA wording before now that backs up this theory....

[Wade Garrett]

I havent looked, but has anyone checked how many loan players were on the pitch last night, and if they kept to rules the rest of football adhere to? I would never be surprised if they played more than the legal amount and the FL turned a blind eye.

It would be karma if we have promotion guaranteed by the time we play Coventry and we can give them the 3 points by rolling over. Sadly I think even if we were the integrity that NA displays would make him not allow us to do so.

Pompey look as though they could well escape, although BC and Coventry will have to be overhauled. Pompey have a great chance though and as i said the other day on here they will fight like mad against us . We have a role to play in not get uptight if things do go our way early on.

 

Give Coventry 3 points on the last day of the season, just like Pompey did to West Brom the season we went down? That would be the ultimate retribution. We could wear Coventry shirts to the game, like the dirty skates who wore West Brom colours.

 

Their capitulation that day contributed to our relegation, ours could lead to their ultimate demise, liquidation.

 

Sweet.

[saintalan]

well we all knew that was ********. FL are giving them every chance though.. another email sent, they haven't replied to my last one re embargo yet

 

Well done! Hope you included the phrase that the Admins are "inextricably linked"

 

Cheers

 

Alan

[Lifelongsaint83]

imfromthesouthWednesday, March 28, 2012 at 09:10 AM Could we do what Barcalona do, pay to attend training sessions? We could open Fratton Park over the summer and show training matches. It works two ways, we get to see all of what is coming through the academy and early judgement on new players. In return pompey take a little money. I reckon with the right backing we could take a devout 5,000 fans each week. If they make it affordable maybe more than that. It wouldn't need much policing because there wouldn't be any away fans. Also, In the summer all the kids are off school so Kids for £3 adults for £6. Supporters Trust.

 

Funniest thing I think I have ever read

 

 

[hypochondriac]

http://www.portsmouth.co.uk/sport/pompey/pompey-past/end-of-season-that-s-when-it-gets-scary-at-pompey-1-3671970

 

Birch confirms CVA has failed with no points deduction, wtf?!

 

He said: ‘The CVA won’t be paid.

 

‘It’s failed because this company is now in administration and won’t be able to honour the agreement.

 

‘There will be no penalties to the club. The administration itself is a penalty with the 10 point deduction.

What??? That is disgusting. A real low point of the football league. A disgrace.

[SaintBobby]

Does anyone know if clubs such as Bristol City or Coventry are screaming blue murder at this?

 

I would have thought legal action should be threatened or undertaken.

 

Although we are interested in the matter due to the rivalry, there's several clubs battling relegation who could end up going down due to the cheating by Portsmouth.

 

Why are they apparently so sanguine?

[SaintBobby]

I suspect most (if not all) of the loan deals were with an *obligation* to buy rather than an *option*. That way, the administrator can guarantee that those wages are off the payroll for good.

 

If that's true, what's the real meaning of the transfer window?

 

It would seem that you can effectively continue transfers after the window has closed (and while the loan window has opened) just by presenting them in a slightly different way semantically.

 

Not saying you're wrong, am just saying what the implication is if you're right...

[badgerx16]

They haven't yet failed to make a payment, it's due on April 1st. I cannot find any back door escape clause in the Completion Statement, so let's wait to see what Baker Tilley have to say on the 2nd of April.

( The Completion Statement should be available via UHY's website, but mysteriously at the moment it seems to be unavailable - it can be found on Google QuickView -

 

https://docs.google.com/viewer?a=v&q=cache:-slxd4lcVKgJ:www.uhy-uk.com/assets/media/download/portsmouth%2520reports/Completion%2520report.pdf+portsmouth+CVA+schedule&hl=en&pid=bl&srcid=ADGEESjbAZ-xLp4PmTcbbOFjDWq359YLxXl4HIz-7DM06B3VqAaxaezYuWg4tS2z5SWlbJhMLaUBG4culdp8CGCJvsO11QzdK8Q84Aqn3zyh8CY7NhW9DSi4UjGrb2ZKisk2dd1PZgob&sig=AHIEtbQOnx02gxLnGZsw1OYrtj7iiPJlLg )

[saint si]

Next week will prove very interesting. The stunt that AA pulled in winding up the oldco (for the "forensic investigation") and passing on the golden share to the newco means that newco isn't directly paying the old CVA. Hence Baker Tilley are now in there as a proxy (i.e. newco pays BT who pay the oldco's creditors).

 

Will be interesting to see how this plays out on two fronts...

 

1) Legal implications - will the old CVA's debt be restored to its full value and added back on to newco? Or will it be viewed as "just another debt" for the purposes of the next CVA (if they get that far). And what will BT's voting rights be in the new CVA?

 

2) FL implications - will they treat the old CVA as having failed and issue a points penalty?

[Gruffalo]

This one ?

 

http://www.uhy-uk.com/assets/media/download/portsmouth%20reports/Completion%20report.pdf

[Kenilworthy]

Give Coventry 3 points on the last day of the season, just like Pompey did to West Brom the season we went down? That would be the ultimate retribution. We could wear Coventry shirts to the game, like the dirty skates who wore West Brom colours.

 

Their capitulation that day contributed to our relegation, ours could lead to their ultimate demise, liquidation.

 

Sweet.

 

Losing at West Brom and sending us down is just another Pompey myth. We didn't do what we needed to do anyway - it was Crystal Palace they actually relegated.

[Wade Garrett]

Losing at West Brom and sending us down is just another Pompey myth. We didn't do what we needed to do anyway - it was Crystal Palace they actually relegated.

 

I know that, but they lied down, and didn't do us any favours. It would be great if we lied down and it actually liquidated the dirty cheating skates.

[suewhistle]

Give Coventry 3 points on the last day of the season, just like Pompey did to West Brom the season we went down? That would be the ultimate retribution. We could wear Coventry shirts to the game, like the dirty skates who wore West Brom colours.

 

Their capitulation that day contributed to our relegation, ours could lead to their ultimate demise, liquidation.

 

Sweet.

 

No, in this case the ends don't justify the means. Unlike P we have our self-respect and honesty and we really don't want to do anything that brings us down even remotely near their level. Mind you, it would be a positive to take out of the game if it happened and Cov fluked it: bit like fans who bet against Saints so that either way they get something out of a loss. It would be a double celebration!

[The Kraken]

He confirmed a Company Voluntary Agreement (CVA) drawn up to bring Pompey out of administration in 2010 has failed.

 

Around £16.5m was due to unsecured creditors and the first instalment was due to be paid on April 1.

 

But the club’s recent administration means the previous agreement will become a creditor in a new CVA, according to Mr Birch.

 

He said: ‘The CVA won’t be paid.

 

‘It’s failed because this company is now in administration and won’t be able to honour the agreement.

 

‘There will be no penalties to the club. The administration itself is a penalty with the 10 point deduction.

 

‘The CVA becomes a creditor in this one. It becomes part of any potential new CVA that arises from this administration.’

 

Baker Tilly’s Geoff Carton-Kelly, joint-liquidator of Pompey in 2010, said letters will be sent out to creditors updating them on the situation.

 

He said: ‘The obligation to meet those payments is effectively over.

 

‘Subsequent events have confirmed what we thought might happen. Unless Mr Birch and his colleagues can pull some serious rabbits out of hats, it looks as if the source of funds in meeting claims of creditors in the old company are not going to bear fruit.’

 

It's pretty outrageous what PFC have done with this, though no real surprise. And I fully expect the FL to try to brush this one under the carpet, as I very much doubt they have it within their written rules to do anything about it.

 

That said, what this does do is create a formal £16.5M club debt, which is controlled by Baker Tilly. That debt will form part of any new CVA. And being as Baker Tilly effectively represent HMRC, they will surely push for nothing less than full repayment of the CVA amount. And as a £16.5M debt will be more than 25% of the total debt, it's quite clear Baker Tilly hold all the cards here.

 

With that in mind, they are NEVER going to get a CVA agreed, surely? Which will then mean further points deductions per the FL's rules.

[badgerx16]

What's the FL penalty for entering a 2nd season whilst still in admin ? Without a buyer, could they limp on until September ?

[warsash saint]

Heads up guys....Webchat going on now on The Snooze website for you that want to wind up the blue few !!

[COMEONYOUREDS]

Andrew

 

This is quite ridiculous. Integrity of the competition? You must be joking me?

Portsmouth are making a mockery of your competition and you are letting them to cover your own tracks.

 

This email is rhetorical and doesn’t require a reply

 

Thank you

 

Me

 

 

From: FL [mailto:enquiries@football-league.co.uk]

Sent: 28 March 2012 13:18

To: Me

Subject: RE: Failed CVA - No points Penalty?

 

 

 

Thank you for your two emails. Firstly, as per our customer charter we will issue a response within 7 working day of receipt.

 

Currently as Portsmouth is in the hands of the administrator it is at their discretion which of the club’s assets is sold/removed on an ongoing basis to reduce the club’s wage bill. The League works with the club and administrator in this respect to ensure that the integrity of the competition is retained.

 

As previously stated, at present The League cannot currently comment any further in relation to Portsmouth, on any matter relating to a CVA or otherwise, and any further statements will appear on our website in due course.

 

Thank you for contacting The Football League.

 

Regards,

 

Andrew Pomfret

Customer Services Officer

[los_saint]

Just noticed a rather amusing typo on this page: http://www.bbc.co.uk/sport/0/football/17430077

 

REMAINING FIXTURES

 

24 Mar Doncaster (h)

31 Mar Blackpool (a)

7 Apr Porstmouth (h)

9 Apr Crystal Palace (a)

13 Apr Reading (h)

17 Apr Peterborough (a)

21 Apr Middlesbrough (a)

28 Apr Coventry (h)

[trousers]

This one ?

 

http://www.uhy-uk.com/assets/media/download/portsmouth reports/Completion report.pdf

 

Yep. Defo can't see anything that obliges them to pay the interim installments though, just that they need to pay the whole 20% by 2015....unless I'm reading it incorrectly....here are the original CVA proposals that were approved:

 

 

And here is the payment schedule that came out of the back of that:

 

[St Jim]

Does anyone know if clubs such as Bristol City or Coventry are screaming blue murder at this?

 

I would have thought legal action should be threatened or undertaken.

 

Although we are interested in the matter due to the rivalry, there's several clubs battling relegation who could end up going down due to the cheating by Portsmouth.

 

Why are they apparently so sanguine?

 

There's a few posts on the Cov forum that have questioned the signings and I have asked for their general thoughts on it. I also dropped the pending CVA payments (or lack of) in there to give them more of hte picture.

[Sevvy]

I read it that they must pay £3m in the first 9 months of the CVA, which then leaves £13.5m which can be paid as and when

[trousers]

...

Edited 28 March, 2012 by trousers
rubbish

[Chez]

Give Coventry 3 points on the last day of the season, just like Pompey did to West Brom the season we went down? That would be the ultimate retribution. We could wear Coventry shirts to the game, like the dirty skates who wore West Brom colours.

 

the chocolate brown numbers suit me

[trousers]

I read it that they must pay £3m in the first 9 months of the CVA, which then leaves £13.5m which can be paid as and when

 

Yep....unfortunately that's my take on it too.....reading between the lines I think 'they' (newCo on behalf of oldCo) can pay the remaining balance in one lump on 17th June 2015 and still comply with the CVA....? Can someone put a different slant on it based on the wording in AA's completion report?

[Sour Mash]

They're still getting away with it, even now. Never before has so little punishment been given for writing off so much debt. We were -10 at the bottom of league 1, they're not even at that point yet. Yes, they obviously still have plenty of problems stored up for the future, but they're still using a half decent squad, one they can't afford, paid partly by you and I the tax payer.

[pfc123]

So then, now that cva1 is dead as confirmed by Birch, the £16.5m payable from said cva + 10.1m from CSI + a worst case scenario of £17m to Chinny + £3m to HMRC = £46.5m of which at most 20% will form cva2 = just over £9m.

 

Whether the creditors would agree to it is a moot point, but faced with the choice of 20% or the square root of **** all, I can see them going for it...

[Tamesaint]

So then, now that cva1 is dead as confirmed by Birch, the £16.5m payable from said cva + 10.1m from CSI + a worst case scenario of £17m to Chinny + £3m to HMRC = £46.5m of which at most 20% will form cva2 = just over £9m.

 

Whether the creditors would agree to it is a moot point, but faced with the choice of 20% or the square root of **** all, I can see them going for it...

 

No way would HMRC support this proposal.

[Chez]

So then, now that cva1 is dead as confirmed by Birch, the £16.5m payable from said cva + 10.1m from CSI + a worst case scenario of £17m to Chinny + £3m to HMRC = £46.5m of which at most 20% will form cva2 = just over £9m.

 

Whether the creditors would agree to it is a moot point, but faced with the choice of 20% or the square root of **** all, I can see them going for it...

 

I wonder if many of the companies that form the CVA will vote against on principal seeing as they will get almost nothing. For example a £10k debt was reduced to £2k and if that's reduced down to £400 (20%) you are starting to get down amounts that people will let go on principal. I think many won't have been fully aware how long it would take to start seeing any money and how easily PFC could squirm out of paying it full stop.

Edited 28 March, 2012 by Chez

[saint si]

So then, now that cva1 is dead as confirmed by Birch, the £16.5m payable from said cva + 10.1m from CSI + a worst case scenario of £17m to Chinny + £3m to HMRC = £46.5m of which at most 20% will form cva2 = just over £9m.

 

Whether the creditors would agree to it is a moot point, but faced with the choice of 20% or the square root of **** all, I can see them going for it...

 

And just assuming for a moment that the creditors do agree to this (which I think is highly dubious), that still requires a buyer prepared to spend £9m in order to get what exactly...?

[rallyboy]

yep, looks like pompey are in the clear, they just need to appeal to the caring side of HMRC, appease the shafted creditors, and the child-maimer, and address the small matter of Chanrai and his secured claims on EVERYTHING.

 

Yep, it's fair sailing from here.

 

HMRC have a good record of agreeing to be shafted, I recall them once declining an offer of 99p in the £ and pushing for liquidation, but I'm sure they were just having a bad day.

And it's not like the taxman wants to make an example of a football club, so yes, pompey are going to be fine.

Loan sharks are renowned for letting debtors off too, they just get bad press.

 

I'm sure that if I was a creditor owed a few thousand and had been misled into signing for CVA1 and hadn't seen a penny, I would rather give them a 2nd chance to rip me off even more.

 

 

 

 

 

 

 

actually, I might just write off the pittance and dance on their graves....

[St Jim]

Andrew

 

This is quite ridiculous. Integrity of the competition? You must be joking me?

Portsmouth are making a mockery of your competition and you are letting them to cover your own tracks.

 

This email is rhetorical and doesn’t require a reply

 

Thank you

 

Me

 

 

From: FL [mailto:enquiries@football-league.co.uk]

Sent: 28 March 2012 13:18

To: Me

Subject: RE: Failed CVA - No points Penalty?

 

 

 

Thank you for your two emails. Firstly, as per our customer charter we will issue a response within 7 working day of receipt.

 

Currently as Portsmouth is in the hands of the administrator it is at their discretion which of the club’s assets is sold/removed on an ongoing basis to reduce the club’s wage bill. The League works with the club and administrator in this respect to ensure that the integrity of the competition is retained.

 

As previously stated, at present The League cannot currently comment any further in relation to Portsmouth, on any matter relating to a CVA or otherwise, and any further statements will appear on our website in due course.

 

Thank you for contacting The Football League.

 

Regards,

 

Andrew Pomfret

Customer Services Officer

 

 

Yep word for word from the second paragraph on as the response as I have just received in my inbox