Lifelongsaint83 Posted 26 April, 2012 Share Posted 26 April, 2012 They are probably planning on holding one in 2014, making it a 2 year thing... Link to comment Share on other sites More sharing options...
Ohio Saint Posted 26 April, 2012 Share Posted 26 April, 2012 They should have put the creditors in Notarf Krap. They could have seen a decent crowd for once. Link to comment Share on other sites More sharing options...
Ken Tone Posted 26 April, 2012 Share Posted 26 April, 2012 Well he's not going to say otherwise is he? Not sure what hs motive would be for saying this if he didn't mean it? Link to comment Share on other sites More sharing options...
bridge too far Posted 26 April, 2012 Share Posted 26 April, 2012 pn_neil_allen: Birch: Liquidation would mean club would lose its entitlement to parachute payments, even if it reforms. #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 11:59 pn_Rory_McKeown: Question: if the club is liquidated what happens to parachute payments? Birch: they would disappear. Only goes to relegated club #pcm2012 [via Twitter] 11:59 pn_neil_allen: Birch: Liquidation would mean club would lose its entitlement to parachute payments, even if it reforms. #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
Chin Strain Posted 26 April, 2012 Share Posted 26 April, 2012 So The News sends two reporters, with the end result being that they update exactly the same thing seconds apart:facepalm: Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:00 pn_Rory_McKeown: Birch: we have enough money to get us into June. After Football League AGM. #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
Ken Tone Posted 26 April, 2012 Share Posted 26 April, 2012 Neil Allen@pn_neil_allen Reply RetweetedRetweet Delete FavoritedFavorite · Close Open Details Problems with microphones and hearing people on the floor in the Victory Lounge! #Pompey #pcm2012 Fat in the wires? Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 So The News sends two reporters, with the end result being that they update exactly the same thing seconds apart:facepalm: Apparently, there were no seats available..........:lol: Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:01 pn_neil_allen: Birch: Sale is season tickets won't affect cash flow as administration would not use that money. #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 April, 2012 Share Posted 26 April, 2012 Given that they are deferring wages... how is it possible that teh club has 'enough money' to get them to June, when waht he is saying is that the footballing debt is increasng, but feck you lot as they get paid first... although I guess if liquidated, then football crditors rule does not apply as no golden shre required? Link to comment Share on other sites More sharing options...
Highfield Saint Posted 26 April, 2012 Share Posted 26 April, 2012 Will anything be decided at this meeting or is it just to review progress and report back to creditors? Link to comment Share on other sites More sharing options...
Ken Tone Posted 26 April, 2012 Share Posted 26 April, 2012 Will anything be decided at this meeting or is it just to review progress and report back to creditors? No. Yes. Link to comment Share on other sites More sharing options...
Highfield Saint Posted 26 April, 2012 Share Posted 26 April, 2012 No. Yes. Thanks Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 Wish someone would ask when a deal would have to be sorted by such that an undertaking could be given to the league on the 2nd that they could complete their fixtures for next season? Link to comment Share on other sites More sharing options...
Ken Tone Posted 26 April, 2012 Share Posted 26 April, 2012 Wish someone would ask when a deal would have to be sorted by such that an undertaking could be given to the league on the 2nd that they could complete their fixtures for next season? Ys bit that's not really the issue for creditors is it? More for fans. Most creditors want their money , not a live football club. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 April, 2012 Share Posted 26 April, 2012 Ys bit that's not really the issue for creditors is it? More for fans. Most creditors want their money , not a live football club. ..unless a live football club offers a better chance of them getting any.. eg chainrai Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:10 pn_Rory_McKeown: Discussions over voting process #pcm2012 #Pompey [via Twitter] And so, now to the nitty gritty! Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 26 April, 2012 Share Posted 26 April, 2012 Will anything be decided at this meeting or is it just to review progress and report back to creditors? There will be a vote cast by the creditors to accept or decline the administrator's proposal. This will be a xx pence in the pound, and I'll keep going and try to find the new buyer, or liquidate now and I can't guarantee what the xx pence will be. This is the vote that the administrator needs 75% of the creditors to agree on, so Chainrai holds a big stake. HMRC holds a little stake. Link to comment Share on other sites More sharing options...
bridge too far Posted 26 April, 2012 Share Posted 26 April, 2012 Tony Husband @TonyHusbandBBC Reply Retweet Favorite · Open #pompey HMRC want a liquidator to be able to investigate the company's collapse. Lawyer who worked on UHY's admin wants a separate vote. Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 Ys bit that's not really the issue for creditors is it? More for fans. Most creditors want their money , not a live football club. My feeling is that it will be the key decider about when Birch pushed the liquidize button. If say it will take 2 weeks for all the paperwork etc between a bid being submitted and being in a position to satisfy the league then if not bids 2 weeks before FL meeting then would surely have to pull the plug then rather than wait till the meeting? Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:13 pn_neil_allen: Now it is UHY v PKF over a modification put forward by HMRC. Faulds himself can't work out UHY's problem. #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
hypochondriac Posted 26 April, 2012 Share Posted 26 April, 2012 Annoyingly I have to take gingeletiss off ignore so I can see the updates. Link to comment Share on other sites More sharing options...
bridge too far Posted 26 April, 2012 Share Posted 26 April, 2012 #pompey Gerald Vernon-Jackson urges vote on HMRC proposals. Looks like the room will get its way Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 Annoyingly I have to take gingeletiss off ignore so I can see the updates. Just use the twitter search on #pompey to get the various reports together. https://twitter.com/#!/search/realtime/%23pompey Link to comment Share on other sites More sharing options...
qwertySFC Posted 26 April, 2012 Share Posted 26 April, 2012 My simple question would be ... Why did the company employ Kitson on 20k per week when that would have paid off 208 creditors - Would have been the right thing to do. Link to comment Share on other sites More sharing options...
Highfield Saint Posted 26 April, 2012 Share Posted 26 April, 2012 If creditors vote for liquidation they will get a small percentage but at least they will get this in a defined timescale. If they accept a proposal they will be promised more but this will be dependent on a variety of events happening as forecast. Of course if these do not come to pass then they may find they receive less than the liquidated amount after a longer wait. Just like last time. The promise of an additional sum doesnt mean that creditors wont vote for liquidation. Link to comment Share on other sites More sharing options...
hypochondriac Posted 26 April, 2012 Share Posted 26 April, 2012 What does this hmrc proposal mean? Link to comment Share on other sites More sharing options...
hypochondriac Posted 26 April, 2012 Share Posted 26 April, 2012 Just use the twitter search on #pompey to get the various reports together. https://twitter.com/#!/search/realtime/%23pompey Cheers. Link to comment Share on other sites More sharing options...
saint si Posted 26 April, 2012 Share Posted 26 April, 2012 If creditors vote for liquidation they will get a small percentage but at least they will get this in a defined timescale. If they accept a proposal they will be promised more but this will be dependent on a variety of events happening as forecast. Of course if these do not come to pass then they may find they receive less than the liquidated amount after a longer wait. Just like last time. The promise of an additional sum doesnt mean that creditors wont vote for liquidation. Really depends on if they've learned their lesson from last time... Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:22 pn_Rory_McKeown: Debate over HMRC amendment to proposals. Proposal is CVA followed by liquidation of old co and then an investigation. #pcm2012 #Pompey [via Twitter] Link to comment Share on other sites More sharing options...
buctootim Posted 26 April, 2012 Share Posted 26 April, 2012 The promise of an additional sum doesnt mean that creditors wont vote for liquidation. I bet a lot of them want to but wont. If they are Pompey area based it would hurt their business to be known as a company that liquidated the local football club. Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 26 April, 2012 Share Posted 26 April, 2012 12:22 pn_Rory_McKeown: Debate over HMRC amendment to proposals. Proposal is CVA followed by liquidation of old co and then an investigation. #pcm2012 #Pompey [via Twitter] I thought they did this last time, but we never saw the outcome of the forensic investigation into old co? Or did it never happen? It is pointless going for a CVA as the last one bore no fruit. If I were I creditor I would have CVA as my last option. Link to comment Share on other sites More sharing options...
andysstuff Posted 26 April, 2012 Share Posted 26 April, 2012 12:22 pn_Rory_McKeown: Debate over HMRC amendment to proposals. Proposal is CVA followed by liquidation of old co and then an investigation. #pcm2012 #Pompey [via Twitter] By oldco I assume they mean newco as opposed to oldco that went into liquidation last time. Confused? You will be. Link to comment Share on other sites More sharing options...
bridge too far Posted 26 April, 2012 Share Posted 26 April, 2012 pn_neil_allen: UHY and Portpin vote against HMRC amendment about liquidation. Vast majority of others accept. Games being played! #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:27 pn_neil_allen: UHY and Portpin vote against HMRC amendment about liquidation. Vast majority of others accept. Games being played! #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 April, 2012 Share Posted 26 April, 2012 ...UHY and chinney vote against HMRC investigation ... wonder why? Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 pn_neil_allen: UHY and Portpin vote against HMRC amendment about liquidation. Vast majority of others accept. Games being played! #Pompey #pcm2012 [via Twitter] What a surprise... NOT Link to comment Share on other sites More sharing options...
hypochondriac Posted 26 April, 2012 Share Posted 26 April, 2012 What is the amendment? Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 April, 2012 Share Posted 26 April, 2012 What is the amendment? current Co liquidated and new co...again with CVA.... reapeat of last time to allow forensic investigation by HMRC into current Co (new old co) Link to comment Share on other sites More sharing options...
fromdayone Posted 26 April, 2012 Share Posted 26 April, 2012 By oldco I assume they mean newco as opposed to oldco that went into liquidation last time. Confused? You will be. Maybe it means 'oldco'2, as this is what it will be after liquidation and the formation of 'newco'2 (plan B)?????????? Link to comment Share on other sites More sharing options...
andysstuff Posted 26 April, 2012 Share Posted 26 April, 2012 Maybe it means 'oldco'2, as this is what it will be after liquidation and the formation of 'newco'2 (plan B)?????????? I thought that was what I said. Told you it was confusing! Link to comment Share on other sites More sharing options...
hypochondriac Posted 26 April, 2012 Share Posted 26 April, 2012 current Co liquidated and new co...again with CVA.... reapeat of last time to allow forensic investigation by HMRC into current Co (new old co) Well that is annoying as it means that hmrc will agree to a Cva and no more points deductions. Link to comment Share on other sites More sharing options...
saintjay77 Posted 26 April, 2012 Share Posted 26 April, 2012 Well that is annoying as it means that hmrc will agree to a Cva and no more points deductions. I think thats down to HMRC's new approach. Agressivly voting against a cva in the past has got them no-where. Investigation via Liquidation of old company could return them with money or someone to blame and string up. If creditors vote against the liquidation then HMRC will vote against the CVA. All comes down to how much power they have over that decission I guess? Link to comment Share on other sites More sharing options...
Chin Strain Posted 26 April, 2012 Share Posted 26 April, 2012 Well that is annoying as it means that hmrc will agree to a Cva and no more points deductions. I doubt it - they just want the investigation part. The CVA is then down to voting...and they'll vote against unless it's 100p in the £ Link to comment Share on other sites More sharing options...
Matthew Le God Posted 26 April, 2012 Share Posted 26 April, 2012 Well that is annoying as it means no more points deductions. They may still get points deductions in League One for the collapse of the 2010 CVA. They will be diluting the 2010 CVA with a 2012 CVA, which amounts to the same as not agreeing a CVA in 2010, which would have received a huge points deduction. Link to comment Share on other sites More sharing options...
bridge too far Posted 26 April, 2012 Share Posted 26 April, 2012 Tony Husband @TonyHusbandBBC Reply Retweet Favorite · Open #pompey HMRC amendment voted down by creditors. PKF proposals go forward with unanimous backing, minus HMRC proposal. Link to comment Share on other sites More sharing options...
eurosaint Posted 26 April, 2012 Share Posted 26 April, 2012 HMRC proposal rejected - beware the wounded tiger !! Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:41 pn_neil_allen: HMRC amendment rejected. Portpin and CSI/Hacker Young as main creditors get their way. #Portpin #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 Tony Husband @TonyHusbandBBC Reply Retweet Favorite · Open #pompey HMRC amendment voted down by creditors. PKF proposals go forward with unanimous backing, minus HMRC proposal. Not had chance to follow proceedings today but that sounds bad on the surface? (bad as in 'getting away with it') Link to comment Share on other sites More sharing options...
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