Pompey Takeover Saga

[Ken Tone]

These Kevs in Portmouth seem brighter than the rest

 

64

[h=3]kev the second[/h]Thursday, April 26, 2012 at 01:35 PM

@47 The ground could be sold to developers. They might have a minor struggle to get planning, but when the council were putting their oar in a few weeks ago, they sounded weak in their assurances, with what sounded like get-out clauses. I am sure it would go to appeal, out of local hands, it would be easy to show it's not viable as a football ground, as the company keeps going belly up. It might take a couple of years, but there is no hurry once you've stopped losing millions a month. The threat of development is very real IMHO. There are rumours of planning applications being prepared!

[badgerx16]

Don't forget, as a League 1 club they are bound by FFP :

 

Financial Fair Play in League 1 and League 2:

- League 1 and League 2, clubs have chosen to implement the Salary Cost Management Protocol (SCMP) first used in League 2 in 2004/05, although it will operate at different thresholds in each division.

- The SCMP broadly limits spending on total player wages to a proportion of each club's turnover, with clubs providing budgetary information to The League at the beginning of the season that is updated as the campaign progresses.

- Any club that is deemed to have breached the permitted spending threshold will be subject to a transfer embargo. Wherever possible, The League will seek to tackle the issue 'at source' by refusing player registrations that take clubs beyond the threshold.

- At the beginning of the current season, League 2 clubs reduced the permitted spending threshold to 55% from 60% and this figure will continue to be operated next season.

- League 1 clubs are currently operating a 'pilot' of the SCMP with clubs complying with a 75% threshold but with no sanctions being applicable this season. This threshold will reduce to 65% in 2012/13 and 60% in 2013/14 with sanctions (transfer embargoes) being applicable in both seasons.

[Ken Tone]

What I have never been able to understand is why Chainrai got involved in the first place. He must be reasonably bright ,or he would not have buolt up the business he has. So why lend money to a sinking business in which he has no interest?

 

I have a vague idea that it was somehow tied into his dispute with Gaydamak, but can't see the logic even so.

 

Is anyone able to explain it, preferably in no more than 20,000 words,and without committing libel?

[eurosaint]

I don't care about points deductions so much, they're down and the way their squad will be cut, they could go down again.

 

What bothers me is the ease in which a company dodges a CVA then tries to make another one with more favourable terms. That's disgusting, whether it was PFC, Saints, Man Utd or whoever. It's no way to run a sport and no way to allow businesses to run.

 

Surely it's time there were concrete rules about CVAs? Fail to service one and you're out the football league. That would be the line in many countries. Worse still, fail to service one because you choose to spend more money on expensive players??!!! Actually fail to service it and INCREASE your debt? I'm not sure which is worse, that they were allowed to do this or actually had the nerve to do it.

 

The less intelligent PFC fans continue to protest and argue, suggesting it's rivalry, they're innocent etc., but the majority of our argument is on the side of local Portsmouth people, small businesses, taxpayers, charities, schools and so on. I don't like seeing those people get ripped off time and again, yet their 'supporters' defend it and try to make it continue?! Utterly bizarre behaviour.

 

I have to agree with all that you say Adrian, there really are some serious flaws in our admin/liquidation/bankruptcy laws and it is quite sickening to witness !

On the plus side, the return of Chinny and his sidekick AA will afford us all many more reasons to gloat over the ongoing shenanigans at the circus down the road !

You really couldn't make it up, but never mind, there is always a siver lining !!

[Chin Strain]

So, Chinny coming back must be heavily reliant on getting the wages down for next season to be covered by income only. In that respect he must be assuming the players will just leave without a pay off, or he's under the misguided view that they will be able to bank a transfer fee for them.

 

The other option is that he's hoping that HMRC win the FCR and he can just fire them all.

 

Given that TB has said that there will only be very little by way of parachute payments coming to the club, he can't be in it for this.

 

Maybe he has a deal to sell the ground to Tescos. Maybe.

 

Otherwise, I simply can't see why he's coming back. What's in it for him? Unless he can start making money from them it's throwing cash away.

 

Have I missed something?

[TopGun]

So, Chinny coming back must be heavily reliant on getting the wages down for next season to be covered by income only. In that respect he must be assuming the players will just leave without a pay off, or he's under the misguided view that they will be able to bank a transfer fee for them.

 

The other option is that he's hoping that HMRC win the FCR and he can just fire them all.

 

Given that TB has said that there will only be very little by way of parachute payments coming to the club, he can't be in it for this.

 

Maybe he has a deal to sell the ground to Tescos. Maybe.

 

Otherwise, I simply can't see why he's coming back. What's in it for him? Unless he can start making money from them it's throwing cash away.

 

Have I missed something?

 

I think it's the view he's £17m down and wants some of it back, by whatever means as he has previously stated. That can be via paras or Tesco, he doesn't mind. He's better off in control of proceedings than not.

[Foxstone]

So, Chinny coming back must be heavily reliant on getting the wages down for next season to be covered by income only. In that respect he must be assuming the players will just leave without a pay off, or he's under the misguided view that they will be able to bank a transfer fee for them.

 

The other option is that he's hoping that HMRC win the FCR and he can just fire them all.

 

Given that TB has said that there will only be very little by way of parachute payments coming to the club, he can't be in it for this.

 

Maybe he has a deal to sell the ground to Tescos. Maybe.

 

Otherwise, I simply can't see why he's coming back. What's in it for him? Unless he can start making money from them it's throwing cash away.

 

Have I missed something?

 

Don't think you have missed anything..

 

I am inclined to think that it is purely to pick off whatever he can, whether it be player sales - although like you I think he might be a bit optimistic here but I'm not sure how much he undertsands football anyway, so he perhaps does'nt get it that the current lot of big earners are not high on other clubs shopping list.

 

Mixture of businessman and football naivety I think!

[dronskisaint]

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.

 

Poetic mate..thought your degree was engineering based?!

[Chin Strain]

I think it's the view he's £17m down and wants some of it back, by whatever means as he has previously stated. That can be via paras or Tesco, he doesn't mind. He's better off in control of proceedings than not.

 

So wouldn't he be better off with no football club , giving him a free hand to do what he likes with the ground? Same end result as taking the club back, running it for a coupe of years to eek out the PPs, but without having to shove millions in to subsidise the wages. Maybe he thinks there's value in the playing staff, or that he can offload all the high earners for nothing.

 

It still doesn't stack up....maybe he's looking for Birch to lose all the high earners before he takes the club over again. But, unless the players agree to go quietly and for next to no pay off, any monies due to them will come out as part of the FCR, so the remaining PPs will be needed for that.

[Chin Strain]

Don't think you have missed anything..

 

I am inclined to think that it is purely to pick off whatever he can, whether it be player sales - although like you I think he might be a bit optimistic here but I'm not sure how much he undertsands football anyway, so he perhaps does'nt get it that the current lot of big earners are not high on other clubs shopping list.

 

Mixture of businessman and football naivety I think!

 

You'd have thought he'd have a better understanding of the way football works now though!

[CB Fry]

Don't think you have missed anything..

 

I am inclined to think that it is purely to pick off whatever he can, whether it be player sales - although like you I think he might be a bit optimistic here but I'm not sure how much he undertsands football anyway, so he perhaps does'nt get it that the current lot of big earners are not high on other clubs shopping list.

 

Mixture of businessman and football naivety I think!

 

The beauty of relegation is it kills off the only argument for further aimless financial speculation. The pot of gold the MIGHT get if promoted to the prem through sneaking into the play offs is completely gone. League one to the NPC aint no pot of gold so hardly justifies "one last punt". The only business plan they have now is cut, cut, cut. Wonderful.

[redkeith]

Chinrai and CSI ( who owe 70% of their debt to Chinrai ) are the two biggest creditors ( 49%).

 

So Chinrai will get about 25/58th of any CVA payments. If I were in his shoes, I would make the CVA pay anything left out of the Parachute Payments after football creditors have been paid. TB estimated this at £5 Mill, so Chinrai could get nearly 2.5 Mill.

 

Add in to this any transfer fees received ( Ward, Pearce, Halford, Huslekep ..... thats about it ) and there could be a few hundred thousand pounds extra.

 

Chinrai only has to beat the Trust's bid to buy the club, so he could probably get it for £2 Million. If he puts this money into the CVA, he will get nearly half of it back.

 

So in two years time, BC could have a small profit on his investment, probably secure whatever money he puts in against the Stadium or make it equity , and be ready to sell it all on to the next chancer.

 

If he lets the club get liquidated, all he will get is a share of the proceeds of the sale of FP and the office equipment.

 

I must point out that this is my opinion, and I am a very honest person, so someone with a bit more guile than myself could probably extract a lot more money from the club while the FL are looking the other way.

[sidthesquid]

Chainrai is desperate to keep hold of it, because if the club is liquidated he gets buggerall. If he can keep control of the corpse he can shake a little more loose change out of the pockets. Simple as that.

[Sour Mash]

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??

Zzzzzzzzz been laughing at the absolute idiots on here coming out with stuff like "We love HMRC" for a long time. They're almost as bad as the Skates in my book, indirectly wasting away millions of tax payers money.

[Hatch]

3,723,244 views at about 1 min per view ( conservative ) = over 7 years of man hours

[Thedelldays]

are they dead yet....ffs

[eurosaint]

are they dead yet....ffs

 

They are in the intensive care unit, as we speak !

We'll keep you posted !!

[Panda]

Chainrai is desperate to keep hold of it, because if the club is liquidated he gets buggerall. If he can keep control of the corpse he can shake a little more loose change out of the pockets. Simple as that.

 

This is it in my opinion too. If BC lets TB liquidate he has no control over what gets sold to whom for what and when. TB will also earn more fees so letting TB liquidate is a non-starter for BC, he would have been happier if AA liquidated of course! If he buys at as low a price as he can, as RedKeith pointed out, he will get almost half back through the CVA and then he can sell off the assets himself over time and raise more that way to get his money back. If, by any miracle, the team is successful in L1 then he stands to get a bit more back. Firstly, though,he needs TB to do the dirty business of reducing the outgoings to a minimal level and then he can come in as the good, honest, white knight they have longed for!

[solentstars]

stuart grey to leave pompey

[Matthew Le God]

At time of writing this article says the PFA is owed £26m...

 

http://www.bbc.co.uk/sport/0/football/17859429

 

I think it is more likely to be £2.6m.

[pedg]

A bit confused. UHY and Chainrai votes against the liquidation of newco and the formation of newnewco, one assumes to stop the accounts being investigated but surely Birch has looked over the accounts and is he not duty bound to tell the authorities if he finds anything illegal has happened? I wonder what is is they are trying to hide that is so important but not bad enough for Birch to call in the authorities? Or is it something so complicated that it would only be found after a more extensive examination?

[pedg]

"I am still in discussions with two parties, one of whom is more serious than the other," said Birch, from administrators PKF

 

[Brussels Saint]

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

 

 

Looks more like Le Saux, if you ask me.

[holepuncture]

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.

 

An elegant, eloquent and rather fitting tribute to the DFCSBs!

 

Thoroughly enjoyed the creditors meeting today, lots of my favorite heros all under one roof eyeing up the rotting carcass.

 

Welcome Mr Chainrai, its good to have you back! Good to see you have come back fighting for whats yours, all the best in your conquest.

 

 

Exciting, isnt it? PMSL

[pfc123]

I don't care about points deductions so much, they're down and the way their squad will be cut, they could go down again.

 

What bothers me is the ease in which a company dodges a CVA then tries to make another one with more favourable terms. That's disgusting, whether it was PFC, Saints, Man Utd or whoever. It's no way to run a sport and no way to allow businesses to run.

 

Surely it's time there were concrete rules about CVAs? Fail to service one and you're out the football league. That would be the line in many countries. Worse still, fail to service one because you choose to spend more money on expensive players??!!! Actually fail to service it and INCREASE your debt? I'm not sure which is worse, that they were allowed to do this or actually had the nerve to do it.

 

The less intelligent PFC fans continue to protest and argue, suggesting it's rivalry, they're innocent etc., but the majority of our argument is on the side of local Portsmouth people, small businesses, taxpayers, charities, schools and so on. I don't like seeing those people get ripped off time and again, yet their 'supporters' defend it and try to make it continue?! Utterly bizarre behaviour.

 

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

[rallyboy]

jealousy? :lol:

[Sour Mash]

Looks more like Le Saux, if you ask me.

Scott Hiley I think.

[Katalinic]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

Jealousy? Of what?

[Sour Mash]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

That's as big a bite as I've seen on here for a long time.

[Lets B Avenue]

Looks more like Le Saux, if you ask me.

 

Luckily, we aren't.

 

Le saux played only two seasons and the shirt sponsor at that time was Friends Provident

[Depressed of Shirley]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

To be fair it started off all about your shower, and mostly still is. However, it has made clear to all those who have read through this saga that there is something very wrong with the laws in this country in relation to business insolvency in general.

 

I'm just laughing at you lot though.

[LGTL]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

Whaaaaaaaaaaaaaaaaa

[Thedelldays]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

still, you have the best fans in the world™ and will no doubt get around 20k every week (like we did) in league 1..

 

 

right.?

[Crazy Diamond]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

You my son have just cracked. Well done.

 

Jealous? Ohhhh dear.

[View From The Top]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

Merely laughing at your slow painful death you thick skate cu nt.

[Lifelongsaint83]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

Jealousy?? HAHAHAHAHAHAHAHAHAHA

[Sheaf Saint]

Looks more like Le Saux, if you ask me.

 

The Pony / Sanderson kit is from the mid-late 90s, Ginola left Spurs in 2000 and Le Saux didn't join Saints until 2003 when we sold Wayne Bridge to Chelsea.

 

It's definitely Scott Hiley.

[Wes Tender]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

Yeah,yeah,yeah.

 

And we're no different from you; we were also in administration recently, the only difference between the two clubs is that we are also living beyond our means, but our owner hasn't pulled the plug on our debt to him, we screwed the Norwich Union over the stadium mortgage, the Liebherrs are looking to sell us, blah,blah,blah.....

 

So what exactly are you saying? That we shouldn't be morally indignant that schools, charities, local small businesses and the taxpayer have been royally shafted by your poxy little club, not once, but twice within a very short spell of time? And that if we are indignant, it is only through bitterness and jealousy?

 

I'm sorry to say it sonny, but it seems to be you and your fellow Skates that have lost your grip on reality.

 

By the way, did you see the link to the top twenty of Premiership clubs over the past 20 years? I didn't see your lot in there. Surely there must be some mistake, as I'm assured by the likes of you and Toy Boy that the Skates are the bigger and more successful club.

 

But I'm sure that in twenty years time, they'll probably do a similar table for the lower divisions and I'm confident that you'll be right up there.

[trousers]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

[Chin Strain]

Chainrai is desperate to keep hold of it, because if the club is liquidated he gets buggerall. If he can keep control of the corpse he can shake a little more loose change out of the pockets. Simple as that.

 

But he doesn't...he gets the ground, with no football club, and therefore there's nothing in his way to change the usage and flog it for development. Alternatively he could take the club over, cover all the football debts (deferred player wages) that eat into remaining parachute payments, cover off any pay offs to players going or, more likely, cover the shortfall in wages for next year. Worst case scenario, nobody leaves and he ends up with a £15m+ wage bill for next season. It'll cost him at least £8 - £10m to cover that...all to chase down £17m.

 

Sure, he may get some transfer fees (not big money though), but it still doesn't stack up. The only way it does is if he either is allowed to sack players (relies on the FCR rule being overturned) or players leave for no pay off. If he can shift enough of them to allow income to cover all expenses, then fair enough. But that's unlikely I'd have thought.

 

I still don't see how he's better off with the club being a going concern, rather than being liquidated and him simply selling the ground to the highest bidder.

[warsash saint]

PFC123 managing to make himself look a prize budgie yet again!! It's now becoming a daily occurrence

[Chin Strain]

Chinrai and CSI ( who owe 70% of their debt to Chinrai ) are the two biggest creditors ( 49%).

 

So Chinrai will get about 25/58th of any CVA payments. If I were in his shoes, I would make the CVA pay anything left out of the Parachute Payments after football creditors have been paid. TB estimated this at £5 Mill, so Chinrai could get nearly 2.5 Mill.

 

Add in to this any transfer fees received ( Ward, Pearce, Halford, Huslekep ..... thats about it ) and there could be a few hundred thousand pounds extra.

 

Chinrai only has to beat the Trust's bid to buy the club, so he could probably get it for £2 Million. If he puts this money into the CVA, he will get nearly half of it back.

 

So in two years time, BC could have a small profit on his investment, probably secure whatever money he puts in against the Stadium or make it equity , and be ready to sell it all on to the next chancer.

 

If he lets the club get liquidated, all he will get is a share of the proceeds of the sale of FP and the office equipment.

 

I must point out that this is my opinion, and I am a very honest person, so someone with a bit more guile than myself could probably extract a lot more money from the club while the FL are looking the other way.

 

The ground is secured to him though (I think). As such, he just bids £1 more than the next highest bidder for the ground, the money goes from him to Birch and back to him. He can then do what he likes with the ground. Birch probably wants to sell the club as a whole, but if someone just wants the ground and not the club, and that's the best offer, he'll have to sell it in lots.

[Chin Strain]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

You see, in a nutshell, that's your problem. You actually believe this drivel. The same sort of drivel that you're the best fans in the world, that you're a 'sleeping giant', that we're somehow, unbelievably, jealous of you, and harbour bitterness to wards you.

 

This drivel has been rolled out so much over the last couple of years that you actually believe it. It defies logic. It's ludicrous. It makes you sound pathetic.

 

It's DESPERATE.

 

We don't care if your website tells you that Derby have written to tell you how great you are, and how well you handled relegation.

 

We're not jealous of your 3 admins in 13 years. We're not jealous that you managed to go back into admin within 18 months of coming out of admin.

 

We're not bitter that you have a run down 'stadium' that holds 20,000 and you can only get about 12k home fans in every other weekend

 

We're not bitter that you've been relegated to League 1

 

We laugh at your inability to own any kind of fixed assets, such as a training ground

 

It's hilarious that you've got a Hong Kong moneylender trying to inflict a couple more years of misery as he tries to pick over the carcass of the parachute payments, leading to the inevitable admin again once those payments have gone.

 

It's laughable that you think the players currently bleeding you dry and getting you relegated are heros. They're not...they're killing you. It's them...they're the reason why you'll either be owned by Chanrai or liquidated.

 

We are incredulous that you can completely fail to service the last CVA and yet feel it's right that you shouldn't get any further points deduction.

 

But, more than that, any right minded person, football fan or not, would be disgusted that you can rip off so many people so many times and think it's ok. Even defending the club. These are, largely, local people / schools / charities / businesses where the money makes a difference. It's disgusting.

 

Yet what do we hear from you? That we're bitter and jealous. FFS, are you really that simple?

 

Question: Are you embarrassed by your football club? Are you embarrassed that you were up for 'community club of the year'? If you're not, you're a low life who has no moral compass. If you are...let us know. We're interested. You might have noticed.

[Sheaf Saint]

 

wwwwibble

[Fitzhugh Fella]

The Pony / Sanderson kit is from the mid-late 90s, Ginola left Spurs in 2000 and Le Saux didn't join Saints until 2003 when we sold Wayne Bridge to Chelsea.

 

It's definitely Scott Hiley.

 

El Khalej actually

[Faz]

So, according to the BBC Chinneys debt is £19m of which £12m is secured. The CVA process might be interesting as he only accounts for £7m of the debt. How does the rest stack up?

[eurosaint]

PFC123 managing to make himself look a prize budgie yet again!! It's now becoming a daily occurrence

 

Until recently Ho Ho the Toyman was nailed on for the c.u.n.t of the year award but you'd have to admit that Pikey123 is coming up fast on the rails ...................

[gaz]

So, according to the BBC Chinneys debt is £19m of which £12m is secured. The CVA process might be interesting as he only accounts for £7m of the debt. How does the rest stack up?

 

Interest probably.

[bridge too far]

Interest probably.

 

I think he means that only £7m will be reckoned when considering the CVA (i.e. voting rights)

[Weston Super Saint]

Yes that's right, over 1200 pages because you're all soooo outraged about the plight of local Portsmouth people and the rest. Buuuuull****. You don't give a flying **** about local Pompey people. This thread is ENTIRELY about jealousy and bitterness towards your biggest rivals. ENTIRELY.

 

If you really believe that load of cock above, you should be worried- you're losing your grip on reality....

 

Shut up you boring skate mong cu nt.

 

So, let me get this straight, the current options for the dcfsb's are :

 

1. liquidation

or

2. Chinny - who has never spent a penny on the club and never will, and that was the cause of a party when they went back into admin as all the stupid thick skate mongs [PFC123 et al] celebrated getting rid of him for good - rides back into town to spend no money once more and rape every last penny from then.

 

What is it that the corpse used to say? Oh yeah, that's it, FPMSFL