trousers Posted 26 April, 2012 Share Posted 26 April, 2012 So....let me get this right....HMRC get Birch appointed over UHY to protect their interests yet UHY had enough clout all along to freeze them out at this meeting? What's the point of HMRC's lawyers exactly?? Link to comment Share on other sites More sharing options...
St Chalet Posted 26 April, 2012 Share Posted 26 April, 2012 HMRC are woeful, I wish we had to play the in Saturday. Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:46 pn_Rory_McKeown: Rep from Genesis says small creditors should be in creditors committee. He will represent them in committee. #pcm2012 #Pompey [via Twitter] Link to comment Share on other sites More sharing options...
PompeyInReading Posted 26 April, 2012 Share Posted 26 April, 2012 Really depends on if they've learned their lesson from last time... Thanks for the updates everyone. Just out of interest - Who is this "they"? 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 #pompey creditor's committee nominated. Will be Portpin, PFA, PCFC (old co) HMRC, CSI. Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 @TonyHusbandBBC: #pompey creditor's committee nominated. Will be Portpin, PFA, PCFC (old co) HMRC, CSI. @pn_Rory_McKeown: Rep from Genesis says small creditors should be in creditors committee. He will represent them in committee. #pcm2012 #Pompey Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:48 pn_Rory_McKeown: Creditors committee formed by Portpin, CSI, PFA, Portsmouth City Football Club and Ian Fields of Genesis. #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 26 April, 2012 Share Posted 26 April, 2012 Thanks for the updates everyone. Just out of interest - Who is this "they"? they = the creditors (particularly the small ones who are probably hurting the most) Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 @TonyHusbandBBC: #pompey meeting ends with small creditor asking where is the £2500 promised to each small creditor last time. @pn_neil_allen: UHY say they understand Portpin will finally pay small creditors if they come back in. #Pompey #pcm2012 Link to comment Share on other sites More sharing options...
Gingeletiss Posted 26 April, 2012 Share Posted 26 April, 2012 12:49 pn_neil_allen: UHY say they understand Portpin will finally pay small creditors if they come back in. #Pompey #pcm2012 [via Twitter] Sound familiar? 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 say they understand Portpin will finally pay small creditors if they come back in. #Pompey #pcm2012 [via Twitter] Link to comment Share on other sites More sharing options...
ALWAYS_SFC Posted 26 April, 2012 Share Posted 26 April, 2012 Twitter pn_neil_allen: UHY say they understand Portpin will finally pay small creditors if they come back in. #Pompey #pcm2012 [via Twitter] Lies all lies...again....do not fall for it OR pn_Rory_McKeown: Small creditors could still be paid if Chainrai returns #pcm2012 #Pompey [via Twitter] Link to comment Share on other sites More sharing options...
HK_Phoey Posted 26 April, 2012 Share Posted 26 April, 2012 Thanks again. See you all again in 2014! Link to comment Share on other sites More sharing options...
St Chalet Posted 26 April, 2012 Share Posted 26 April, 2012 Not even Genesis care about Pompey, they send Ian Fields instead of Phil Collins. Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 26 April, 2012 Share Posted 26 April, 2012 @TonyHusbandBBC: #pompey meeting ends with small creditor asking where is the £2500 promised to each small creditor last time. @pn_neil_allen: UHY say they understand Portpin will finally pay small creditors if they come back in. #Pompey #pcm2012 I never truly believed that there was much difference between Portsmouth and Southampton until now. But, if you think you can smile, and glibly tell the poor business folks from Portsmouth, that you really, really, really mean it this time, and they believe you, then I can only conclude that the poor (in every sense of the word) people from this little island are actually stupid. Nailed on, dense. Thick. Dumb. Not the shiniest buttons in the box. A few pork pies short of a picnic. Rowing with an oar out of the water. I am gobsmacked. Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 Not even Genesis care about Pompey, they send Ian Fields instead of Phil Collins. Lol Link to comment Share on other sites More sharing options...
carljack Posted 26 April, 2012 Share Posted 26 April, 2012 The Big Question is WHY would Portpin come back in? is it to keep HMRC and other interested parties from having the books looked at,or is there still some pickings to be had?.I think this is starting to stink more than TCWTB on a hot Summers Day.Is Chinny really is going to save the Club from Liquidation for Footballs sake or is he trying to save face on the cheap. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 26 April, 2012 Share Posted 26 April, 2012 (edited) well. well ,well who would have believed it. Chinney will ride back in bareback with his arms entwinned in the love that dare not speak its name with his 'beeatch' AA squeeling like a pig... grins on their faces as they hold on the an assett of ever decreasing value, but with chinney not being the only one getting a good stuffing... the small creditors wil get feck all, we know that, or maybe its thje small creditor this time round who will get something a long wait) or is it the old ones... who knows but it looks like the following will probably happen: 1. Chinney will take back the club on the 'promise' he will pay back all small creditors and 20p in the pound against a new CVA - thus wiping off the debt and bringing it down to 10mil or so - this will be staged to begin to be repaid in 2018 2. as last time the club still need snew investers to remain a going concern since the large contracts entered into - will we see Chinney lend tehm some more whilst he still can? 3. They will continue to pay their huge wages in L1 and as they build up the debt ...again, in a risk strategy to get them back up to the NPC , whilst delaying any creditor payment unti 2018 4. With the parachute cash to come they will be able to afford it and thus gain promotion to the NPC because by not paying the creditors, they get the Parachute payments so that Chinney can sell the club to another dodgy mate... Seriously - the slimey feckers will shaft football again and the FL will stand and watch, or bend over and welcome a good it.... sadly this is all that is wrong with the game.... only made worse by the fact that the thick as sheit blue phew will think they have ...done nothing worng and dont deserve it... whilst saying how good they are as a team in L1 without acknolwedging they have players on prem wages still... C**** Edited 26 April, 2012 by Frank's cousin Link to comment Share on other sites More sharing options...
St Lightjaw Posted 26 April, 2012 Share Posted 26 April, 2012 Too many people on here have thanked HMRC for pompeys woes. When in fact past and future credit (coz they wont be able to compete with league one and two playing budgets) should go to ..... Without this guy, wage caps would still be in place. All hail Jimmy! Link to comment Share on other sites More sharing options...
Huffton Posted 26 April, 2012 Share Posted 26 April, 2012 Not even Genesis care about Pompey, they send Ian Fields instead of Phil Collins. Link to comment Share on other sites More sharing options...
PompeyInReading Posted 26 April, 2012 Share Posted 26 April, 2012 I never truly believed that there was much difference between Portsmouth and Southampton until now. But, if you think you can smile, and glibly tell the poor business folks from Portsmouth, that you really, really, really mean it this time, and they believe you, then I can only conclude that the poor (in every sense of the word) people from this little island are actually stupid. Nailed on, dense. Thick. Dumb. Not the shiniest buttons in the box. A few pork pies short of a picnic. Rowing with an oar out of the water. I am gobsmacked. What makes you think anyone belives them? Link to comment Share on other sites More sharing options...
ooh it's a corner Posted 26 April, 2012 Share Posted 26 April, 2012 What makes you think anyone belives them? erm, because they've just all agreed to the CVA? Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 erm' date=' because they've just all agreed to the CVA?[/quote'] Haven't they agreed to the principle of seeking a CVA rather than actually agreeing the terms of the CVA? Link to comment Share on other sites More sharing options...
andysstuff Posted 26 April, 2012 Share Posted 26 April, 2012 Haven't they agreed to the principle of seeking a CVA rather than actually agreeing the terms of the CVA? Yes Link to comment Share on other sites More sharing options...
bridge too far Posted 26 April, 2012 Share Posted 26 April, 2012 Haven't they agreed to the principle of seeking a CVA rather than actually agreeing the terms of the CVA? That's what I understood too Link to comment Share on other sites More sharing options...
Wes Tender 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) Didn't I read somewhere recently that the forensic investigation of the liquidated Oldco from the last administration was close to a conclusion and that there was a likelihood of some individuals facing prosecution as a result? Or did I dream it? I have often thought that at some stage, they must have been trading whilst insolvent which is a criminal offence, isn't it? What if it is also revealed that the Android inflated the level of debt from some creditors to reduce HMRC's chances of a veto of the CVA? Could any of this sort of revelation have any bearing on what happens this time around? Link to comment Share on other sites More sharing options...
Justin C Posted 26 April, 2012 Share Posted 26 April, 2012 So they have failed on the original CVA of 20p in the pound gets lumped in to this CVA then that must come with the loss of points. Link to comment Share on other sites More sharing options...
pfc123 Posted 26 April, 2012 Share Posted 26 April, 2012 We apologise for the fault in the CVA. Those responsible have been sacked. ......... We apologise again for the fault in the CVA. Those responsible for sacking the people who have just been sacked, have been sacked. ......... The directors of the firm hired to continue the CVA after the other people had been sacked, wish it to be known that they have just been sacked. The CVA will be completed in an entirely different style at great expense and at the last minute..... Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 (edited) So they have failed on the original CVA of 20p in the pound gets lumped in to this CVA then that must come with the loss of points. Except that the Football League don't have any rules covering failed CVAs, just rules for not getting a CVA in the first place.... Same outcome (i.e. creditors out of pocket)..... But different rules... Edited 26 April, 2012 by trousers Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 As to the HMRC amendment I am fairly sure that before the meeting they knew it would be voted down given the share of the debt represented by UHY and Portpin so I see it more as something they put in just to help show that UHY and Portpin appear to have something to hide. Link to comment Share on other sites More sharing options...
trousers Posted 26 April, 2012 Share Posted 26 April, 2012 We apologise for the fault in the CVA. Those responsible have been sacked. ......... We apologise again for the fault in the CVA. Those responsible for sacking the people who have just been sacked, have been sacked. ......... The directors of the firm hired to continue the CVA after the other people had been sacked, wish it to be known that they have just been sacked. The CVA will be completed in an entirely different style at great expense and at the last minute..... Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 I think he is referring to around 2.00 in this [video=youtube;SII-jhEd-a0] Link to comment Share on other sites More sharing options...
Yeovil Saint Posted 26 April, 2012 Share Posted 26 April, 2012 To be fair to the small creditors it does seem that most if not all of them voted for the HMRC amendment, it's just that UHY and Portpin outvoted them as the votes are weighed on the amount of money owed. We know that CSI and Portpin are owed about £29m and given that some creditors won't have been represented, it's easy to get 50%+1 to block the amendment. But to agree any CVA they need 75% of the vote. Link to comment Share on other sites More sharing options...
St Chalet Posted 26 April, 2012 Share Posted 26 April, 2012 The evil parachute payments are at fault here, they encourage clubs to live beyond their means and this case they are the only reason to keep a brain-dead patient on life support so the corpse can be raped. Link to comment Share on other sites More sharing options...
COMEONYOUREDS Posted 26 April, 2012 Share Posted 26 April, 2012 is this saga ever going to end? Link to comment Share on other sites More sharing options...
St Chalet Posted 26 April, 2012 Share Posted 26 April, 2012 is this saga ever going to end? I would imagine it will coincide with the final release of parachute payments, a host of new debt and a big PAYE and VAT bill if Portpin get back in. Link to comment Share on other sites More sharing options...
Saint-scooby Posted 26 April, 2012 Share Posted 26 April, 2012 Suppliers should now overcharge by 500% that way they will get paid in full when the sh1t hits the fan again in 12 months. Link to comment Share on other sites More sharing options...
brightspark Posted 26 April, 2012 Share Posted 26 April, 2012 They will get away with it again, continuing to cheat in a desperate manner to get back to the NPC. The media will ignore the truth and continue to spout the 'plucky pompey' rubbish. We know that's what is going to happen. Link to comment Share on other sites More sharing options...
Ken Tone Posted 26 April, 2012 Share Posted 26 April, 2012 One of the few finally gets it [h=3]Patio Kev[/h]Thursday, April 26, 2012 at 12:37 PM Pompey will not go bust, BC will not let us go bust as otherwise he will lose the income from the remainder of the next 2 years of parachute payments. Instead he will take over and continue to harvest us for the next 2 years. Then we will go bust. Link to comment Share on other sites More sharing options...
Colinjb Posted 26 April, 2012 Share Posted 26 April, 2012 (edited) One of the few finally gets it Patio Kev Thursday, April 26, 2012 at 12:37 PM Pompey will not go bust, BC will not let us go bust as otherwise he will lose the income from the remainder of the next 2 years of parachute payments. Instead he will take over and continue to harvest us for the next 2 years. Then we will go bust. Parasites ravage the broken animal. The creature, once proud, paid a horrid price for feasting on tainted meat. The initial benefits which brought great strength have now subsided to the putrid hidden dangers. It is of no benefit for parasites to let the decrepid wretched foul stinking mongrel die, instead it will keep sucking the life from it. The parasites accept that the innevitable will come but of course they would rather waste away to a whimper while profiting from their host's pain then put it out of it's misery and end their income. Edited 26 April, 2012 by Colinjb Link to comment Share on other sites More sharing options...
Shufty Zubrik Posted 26 April, 2012 Share Posted 26 April, 2012 One of the few finally gets it [h=3]Patio Kev[/h]Thursday, April 26, 2012 at 12:37 PM Pompey will not go bust, BC will not let us go bust as otherwise he will lose the income from the remainder of the next 2 years of parachute payments. Instead he will take over and continue to harvest us for the next 2 years. Then we will go bust. To maximise the harvest that means nil expenditure on players and 2 years of playing the youth team (if one can be cobbled together) during 2 relegations to Blue Square land. Painful for them. Link to comment Share on other sites More sharing options...
Wes Tender Posted 26 April, 2012 Share Posted 26 April, 2012 A bit of light relief among the doom and gloom that faces the Skates on their headlong plunge towards oblivion and an indication of which South Coast team has been the more successful in the top flight, I found this:- http://www.talksport.co.uk/magazine/features/120426/all-time-premier-league-table-top-20-clubs-past-20-years-170665 Now, when the next one is published a further 20 years down the road, I fuly expect that we will have improved on our standing of 14th. Whereas I also expect that the Skates will not feature at all again. Link to comment Share on other sites More sharing options...
CB Fry Posted 26 April, 2012 Share Posted 26 April, 2012 Whatever any CVA says, they've still got to pay all the players in full. That bread is still very much warm. Link to comment Share on other sites More sharing options...
BigShadow Posted 26 April, 2012 Share Posted 26 April, 2012 This could be fun......Chainrai rides back into town with the sole objective of harvesting as much of the parachute payments as possible. No investment in team or infrastructure. The Phew become increasingly disillusioned and home gates drop below 8,000. League Two beckons and this thread gets the chance to motor on to 100,000 posts. Link to comment Share on other sites More sharing options...
pedg Posted 26 April, 2012 Share Posted 26 April, 2012 Whatever any CVA says, they've still got to pay all the players in full. That bread is still very much warm. unless the football creditors rule is found to be illegal. If that goes they can sack loads of player and put their debts in with all the other debts that will get pennies in the pound. The FL will probably hit them with a points penalty anyway but that's okay as long as they still get the parachute payments. Could pompey set a new record as the only league 2 club receiving premier league parachute payments? Link to comment Share on other sites More sharing options...
buctootim Posted 26 April, 2012 Share Posted 26 April, 2012 (edited) A bit of light relief among the doom and gloom that faces the Skates on their headlong plunge towards oblivion and an indication of which South Coast team has been the more successful in the top flight, I found this:- http://www.talksport.co.uk/magazine/features/120426/all-time-premier-league-table-top-20-clubs-past-20-years-170665 Now, when the next one is published a further 20 years down the road, I fuly expect that we will have improved on our standing of 14th. Whereas I also expect that the Skates will not feature at all again. There is a Saints player tackling David Ginola on the picture on the Spurs page. Cant place him. Any ideas? http://www.talksport.co.uk/magazine/features/120426/all-time-premier-league-table-top-20-clubs-past-20-years-170665?p=14 Edited 26 April, 2012 by buctootim Link to comment Share on other sites More sharing options...
Lifelongsaint83 Posted 26 April, 2012 Share Posted 26 April, 2012 There is a Saints player tackling David Ginola on the picture on the Spurs page. Cant place him. Any ideas? http://www.talksport.co.uk/magazine/features/120426/all-time-premier-league-table-top-20-clubs-past-20-years-170665?p=14 Scott Hiley? Link to comment Share on other sites More sharing options...
buctootim Posted 26 April, 2012 Share Posted 26 April, 2012 Scott Hiley? Good call. I just googled him and I think it is. Thanks. Link to comment Share on other sites More sharing options...
Huffton Posted 26 April, 2012 Share Posted 26 April, 2012 I'm actually very glad chinny is going to keep them going a bit longer, he's obviously not going to invest any more, just keep them going in the hope some other mug buys them off him. Two more years of hilarity at their expense, (hopefully) two divisions between us, and the chance to draw the pikey bastards in the cup and really humiliate them at their place. And I don't think my life would be the same if this thread had to close... Link to comment Share on other sites More sharing options...
warsash saint Posted 26 April, 2012 Share Posted 26 April, 2012 Another 1000 pages to look forward to Link to comment Share on other sites More sharing options...
Recommended Posts