Torres Posted 22 May, 2012 Share Posted 22 May, 2012 What I don't know (and Clapham Saint might be able to answer this) is whether PKF are likely to have been in dialogue with the major unsecured creditors (BT, HMRC etc) about what may be an acceptable proposal to them. I'd surprised if they haven't and if they just put a proposal to the creditors "blind". Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 What I don't know (and Clapham Saint might be able to answer this) is whether PKF are likely to have been in dialogue with the major unsecured creditors (BT, HMRC etc) about what may be an acceptable proposal to them. I'd surprised if they haven't and if they just put a proposal to the creditors "blind". Unless they have changed their default position not much point them having dialog with HMRC. "1%?" "No", "2%?" "No, "3%?"..... "99%?" "No", "100%?" "Probably" Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 Agreed, I guess HMRCs stance is still 100% or GTFO but PKF must be aware of a rough figure that the other major creditors might consider acceptable. If so, and if the 2% figure is in any way accurate, it means that it's the kind of figure the major unsecured creditors might vote in favour of - or at least some might. Alternatively, PKF know that it's never going to be accepted and they're making the proposal as a way to save face ("we tried our best") before pulling the plug. Link to comment Share on other sites More sharing options...
holepuncture Posted 22 May, 2012 Share Posted 22 May, 2012 If that proposal is, as suggested above, 2p in the pound, they'll be offered just £330000 of the £16500000 they are owed. If you were a creditor in CVA1 who was owed, say, £100000 prior to OldCo admin then you could now expect to receive the princely sum of £80 following CVA2. Minus expenses. Lovely. Really puts it into perspective... this is why they need to die ASAP (as much as Chinny MKII/III really appeals to me) Of course Chinny could buy the club, but then "outsource the running of the club" or Franchise it. Pay a fee to him and get to make all the decisions you want in playing with the train set. And there will be a watertight contract that the Franchise fee (cash up front figure) will also include the exact same figure as the Parachute Payments. Win:win for everyone. Chinny eventually gets his money back and can still sell the ground out from under the Trust in 3 years time. The Trust get to pretend to run their own club, AND we get another 3 years of watching them struggle to play football every week with their legs tied together and with a one armed keeper as the fat finishes it's job in the bogs and the old clock falls off the roof and lands on TCWTB causing major brain trauma that doubles his IQ to 2. Sweet Link to comment Share on other sites More sharing options...
hutch Posted 22 May, 2012 Share Posted 22 May, 2012 Really puts it into perspective... Even if they would actually receive £400? Link to comment Share on other sites More sharing options...
Minsk Posted 22 May, 2012 Share Posted 22 May, 2012 Chanrai either puts a new offer to PKF which forms a new CVA proposal which is again put to creditors or walks away and awaits another buyer to do similar. Or PKF liquidate. Or, Balu buys them anyway and they exit admin without a CVA? Okay, this will mean a points deduction, but I don't think Chiny would be too bothered about that. He wants his money, everything else is secondary. Plus, the FL could then ignore the failed CVA1 saying they already have a penalty for a failed CVA (2) and then go amend the rules so other clubs cannot just blow off CVAs as the Skates did. Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 Or, Balu buys them anyway and they exit admin without a CVA? Okay, this will mean a points deduction, but I don't think Chiny would be too bothered about that. He wants his money, everything else is secondary. Plus, the FL could then ignore the failed CVA1 saying they already have a penalty for a failed CVA (2) and then go amend the rules so other clubs cannot just blow off CVAs as the Skates did. Exiting administration without a CVA has a 'football' punishment of a points deduction but in terms of business law does it not mean that creditors can then apply to have them wound up again? Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 hutch - 100000 * 0.04 = 4000. 4000 * 0.02 = 80. No? Link to comment Share on other sites More sharing options...
Gruffalo Posted 22 May, 2012 Share Posted 22 May, 2012 CVA 1 was [supposed to be] 20p / £. CVA 2 has been hinted at 2p / £. Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 Whoops, yep, I'm a spaz. 20p, not 4p. *insert embarassed gif here* Sorry peeps. Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 Whoops, yep, I'm a spaz. 20p, not 4p. *insert embarassed gif here* Sorry peeps. Getting the CVA figures 'wrong'? Easy mistake to make. You're initials aren't "AA" per chance....? Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 LOL, nice one trousers Link to comment Share on other sites More sharing options...
rallyboy Posted 22 May, 2012 Share Posted 22 May, 2012 are we debating whether the creditors would like to sell their houses for a pound, or for £2? I'm not sure the precise amount matters much anymore, it's the thought that counts... Especially when AA's definition of 'less expenses' could literally, and legally, mean anything. Surely it must have finally dawned on even the thickest creditors that they voted for a shafting last time? Don't want to sound too smug but flippin eck, we did tell them. No one is surprised, and they won't be when CVA2 fails miserably too. It's as predictable as Englebert Humperdink getting mauled by bitter European judging panels who still haven't got over the empire - and he'll have to sit there and look cheerful. Scandalous way to treat a man who has produced a lot of music for lifts. But some creditors just can't be helped, they won't listen, they'll vote yes again. You can take Avram to Horton Heath but you can't make him........test drive a reasonably-priced second-hand commercial vehicle. Link to comment Share on other sites More sharing options...
bridge too far Posted 22 May, 2012 Share Posted 22 May, 2012 Has the firesale spread out of control? http://www.bbc.co.uk/news/uk-england-hampshire-18159549 Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 22 May, 2012 Share Posted 22 May, 2012 Why doesn't this De Bank geezer go straight to Birch with his 7p in the pound offer? e? Because he doesn;t actually exist. It's someone on the p`ss take who has managed to con the news. Link to comment Share on other sites More sharing options...
Frank's cousin Posted 22 May, 2012 Share Posted 22 May, 2012 Brett De Bank First time poster long time reader Gents, Now I know none of you have any reason to believe me (What a great start), but I work in Leamington and commute by train. Upon my return to Cov today I saw a proffessional drive holding a sign adorned with Coventry City Football Clubs name and our new club crest long with the name Brett De Bank. Having checked his profile on LinkedIn looks quite promosing seems intrigued in strategic investment in both China and Dubai. Worked as a finanace analyst for Goldmans Sachs and Meryll Lynch. Man has pedigree shame I dont know if he could be performing any sort of due dilligence or conducting some analysis for potential investors. Not sure how confident I am at how far down the line any investment could be? I mean were only an hour away from London so hes obviously here for the game, not sure if any of the bigwigs are here today? Just my summaries of some very amatuer detective work gents, dont tear me a new one hahah PUSB From Coventry City forum SEPTEMBER 2011 - another 'football media whore' type? Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 Because he doesn;t actually exist. It's someone on the p`ss take who has managed to con the news. Agreed I think its a completely made up story. After all it claims that Chainrai would actually make a payment of 2p in the pound! Completely farcical. Link to comment Share on other sites More sharing options...
Islander Posted 22 May, 2012 Share Posted 22 May, 2012 As I understand it, the Football League hold their AGM from the 30th May-1st June by which time league clubs must be able to assure them they can fullfil their fixtures for the coming season. TB said that a vote for CVA2 would be held in 'early June'. Now unless it's on the morning of the 1st, I can't see how they can give the league any reassurance prior to this. Also, they have a week to offload their high earners otherwise there is no way they (Chanrai, Trust or break de bank) can come up with a credible business plan. Am I missing something here? Link to comment Share on other sites More sharing options...
andysstuff Posted 22 May, 2012 Share Posted 22 May, 2012 Because he doesn;t actually exist. It's someone on the p`ss take who has managed to con the news. While the whole article seems one giant lol written by someone on here, he appears to be a very real person. Company director born in 1976 and possibly living in a PO Postcode....... May e a grain of truth somewhere in that story. Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 As I understand it, the Football League hold their AGM from the 30th May-1st June by which time league clubs must be able to assure them they can fullfil their fixtures for the coming season. TB said that a vote for CVA2 would be held in 'early June'. Now unless it's on the morning of the 1st, I can't see how they can give the league any reassurance prior to this. Also, they have a week to offload their high earners otherwise there is no way they (Chanrai, Trust or break de bank) can come up with a credible business plan. Am I missing something here? Their trust did not appear to be overly bothered about this deadline either. Maybe they hope that someone standing up and saying "Talks are ongoing and we hope to fulfill our fixtures" will be enough? Link to comment Share on other sites More sharing options...
suewhistle Posted 22 May, 2012 Share Posted 22 May, 2012 Lol I am a skate suewhistle but I'm not feckin stupid, You need some serious cash to run a club, not only that you need one boss not 1,000 just cant see it working. Question 2 at this moment in time i relay don't know, When your team is relegated for what ever reason you sort of fall out of love with football n need the summer brake to get it back. Phoenix club? just wouldn't be Pompey. Yeah, I don't remember if you've said anything about 1, but yes, you answered exactly as I thought you would. It does beg the question about the trust guys: surely they know they're p**sing in the wind? When Saints when under it was in the face of a gale, but Pompey are facing force 11 or 12 and the boat was never seaworthy when it left harbour! As you realised 2 wasn't a wind up question, but your reply is quite interesting. What does constitute a club for us fans? It may not be Pompey, but there's not much of worth to hold onto there, and by that I mean the ethos, the spirit of the club, which has frankly been stolen. Link to comment Share on other sites More sharing options...
holepuncture Posted 22 May, 2012 Share Posted 22 May, 2012 Even if they would actually receive £400? Glad someone’s had their weetabix this morning! And yes, £100,000 into £400 is simply sickening... http://www.telegraph.co.uk/finance/comment/citydiary/9280549/City-Diary-Secret-bidder-walks-away-from-Portsmouth-deal.html That De Bank fella must have made that remark as a pun! Great to hear confirmation of what us nutjobs on here believed all along, Chinny is secured, he WILL get his money back (and bonuses)! Pretty much confirms to me also that the trust are, and have always been, a Plan B back up post liquidation at moneyfields... nice that they have been conning, misleading and miss-selling financial products to their supporter base... We’ve had Calas under the sea, now I think we finally have a theme tune for both our good friend Balu, but also a theme tune for the future of pompey under the rule of balu [im]http://i43.tower.com/images/mm107007467/sing-along-songs-bare-necessities-baloo-bear-dvd-cover-art.jpg[/img] My position is secured, I will get my money back. Link to comment Share on other sites More sharing options...
St Chalet Posted 22 May, 2012 Share Posted 22 May, 2012 Because he doesn;t actually exist. It's someone on the p`ss take who has managed to con the news. Pretty elaborate if so. http://uk.linkedin.com/pub/brett-de-bank/2b/a52/101 Link to comment Share on other sites More sharing options...
suewhistle Posted 22 May, 2012 Share Posted 22 May, 2012 I honestly thought that was a made up article until I read it online! I think it still is, I immediately thought of the man that Brett de Bank at Monte Carlo... I can't be arsed to google to see if he's real, but maybe that's me being cynical in the face of experience. Link to comment Share on other sites More sharing options...
hutch Posted 22 May, 2012 Share Posted 22 May, 2012 I do hope the FL Chairman will be sitting at the AGM with a copy of the 2010 minutes in front of him. "Yes, Mr.Birch, they said that last time. And that. And that..." Link to comment Share on other sites More sharing options...
buctootim Posted 22 May, 2012 Share Posted 22 May, 2012 Brett de Bank is such an avid Pompey fan he apparently thought about buying Coventry as they are similalrly ****ed and play in blue. He's real enough, lives in Newport IOW. Doubt he has the wherewithall though. http://www.skybluestalk.co.uk/threads/11681-Brett-De-Bank?p=90142&viewfull=1#post90142 Link to comment Share on other sites More sharing options...
Frank's cousin Posted 22 May, 2012 Share Posted 22 May, 2012 Brett de Bank is such an avid Pompey fan he apparently thought about buying Coventry as they are similalrly ****ed and play in blue. http://www.skybluestalk.co.uk/threads/11681-Brett-De-Bank?p=90142&viewfull=1#post90142 Beat you to that :-) see above Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 Pretty elaborate if so. http://uk.linkedin.com/pub/brett-de-bank/2b/a52/101 Would you trust someone who had this on their linkedin profile? Anaylst at Goldman Sachs Link to comment Share on other sites More sharing options...
buctootim Posted 22 May, 2012 Share Posted 22 May, 2012 Beat you to that :-) see above Bugger. Note to self, must read all 62,870 posts in order to avoid embarrassment Link to comment Share on other sites More sharing options...
St Chalet Posted 22 May, 2012 Share Posted 22 May, 2012 Would you trust someone who had this on their linkedin profile? Trust is not a value required to own PFC. Link to comment Share on other sites More sharing options...
saintalan Posted 22 May, 2012 Share Posted 22 May, 2012 ...It's as predictable as Englebert Humperdink getting mauled by bitter European judging panels who still haven't got over the empire - and he'll have to sit there and look cheerful. Scandalous way to treat a man who has produced a lot of music for lifts.... Always thought that was Otis:) Link to comment Share on other sites More sharing options...
Frank's cousin Posted 22 May, 2012 Share Posted 22 May, 2012 Bugger. Note to self, must read all 62,870 posts in order to avoid embarrassment have to be pretty sharp on this thread.. as I have found to my cost as well:blush: Link to comment Share on other sites More sharing options...
Jimmy_D Posted 22 May, 2012 Share Posted 22 May, 2012 While the whole article seems one giant lol written by someone on here, he appears to be a very real person. Company director born in 1976 and possibly living in a PO Postcode....... May e a grain of truth somewhere in that story. Born in 1976... seriously? If the source for this isn't a Saints fan on a wind up I'd be very surprised. Link to comment Share on other sites More sharing options...
sidthesquid Posted 22 May, 2012 Share Posted 22 May, 2012 That's a surprise. Two more than Corp Ho. I'm undecided whether this is the biggest timewaster ever or the greatest entertainment in the history of mankind. Threads such as this should be preserved and put in a time capsule. Where shall we bury it? I thought under the new Fratton Tesco's myself. On a more serious note, it is not the PPs that Chinny is desperate to preserve - it is his ownership of Nottarf Krap. As Birch has publicly stated, if the DFCSBs are liquidated, then he can sell the ground to whoever he chooses and possibly for a pittance (ie Portsmouth City Council). Link to comment Share on other sites More sharing options...
dubai_phil Posted 22 May, 2012 Share Posted 22 May, 2012 From Coventry City forum SEPTEMBER 2011 - another 'football media whore' type? Oh Gawd another brittwit "looking at investment in Dubai,,,,," Good. we'll soon get him sorted out. Wanna buy some property my son? Luverly deal, going cheap mate. Just give me a security cheque of say 50k and you're GUARANTEED a return of 30% inside 3 months. All protected by law innit Oh, by the way, are you looking to go on a diet? Gotta luverly Professional Plus plan for that my friend http://www.7daysindubai.com/want-money-bounced-cheque-victims/story-16144623-detail/story.html I tell ya some of these property scams could only have been dreamt up by Lumpitt & Storyteller Link to comment Share on other sites More sharing options...
Danbert Posted 22 May, 2012 Share Posted 22 May, 2012 Would you trust someone who had this on their linkedin profile? "Anaylst at Goldman Sachs" No, I'd never trust anyone who'd worked for the vampire squid. Link to comment Share on other sites More sharing options...
Sevvy Posted 22 May, 2012 Share Posted 22 May, 2012 With 9 days to go to the FL meeting,with the high earners still on the books, with no decision on how much (if anything) the offer to cover the CVA will be, with no decent training ground, with a stadium (in the loose terms) falling down around thier ears, It dosent look good, Link to comment Share on other sites More sharing options...
fanimal Posted 22 May, 2012 Share Posted 22 May, 2012 http://www.bbc.co.uk/sport/0/football/18162726 How can they? Interesting development.... Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 http://www.bbc.co.uk/sport/0/football/18162726 How can they? Interesting development.... They obviously have to appear to be in a 'business as normal' mode come the league meeting. Selling off everyone they can and not looking to get anyone in would give the league the impression that they don't intend to compete next season. Link to comment Share on other sites More sharing options...
Marsdinho Posted 22 May, 2012 Share Posted 22 May, 2012 http://www.bbc.co.uk/sport/0/football/18162726 How can they? Interesting development.... Futacs has only been offered a contract (on reduced terms), he hasnt actually signed. Futacs was actually entitled to a pay rise as a clause in his contract had been activated. Having gone from activating a pay rise, to being offered a reduction on your salary might not make you want to sign on the dotted line. http://www.portsmouth.co.uk/sport/pompey/pompey-past/appy-futacs-future-is-up-to-him-1-3866811 http://www.portsmouth.co.uk/sport/pompey/pompey-past/appy-futacs-future-is-up-to-him-1-3866811 Link to comment Share on other sites More sharing options...
suewhistle Posted 22 May, 2012 Share Posted 22 May, 2012 http://www.bbc.co.uk/sport/0/football/18162726 How can they? Interesting development.... How can't they? They've got to have _some_ players... All cheapies from the youth/reserves, and even if too late trying to do what we did. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 22 May, 2012 Share Posted 22 May, 2012 http://www.bbc.co.uk/sport/0/football/18162726 How can they? Interesting development.... They will all be on very low wages. Pompey do need some players next season to play games if they sell off all the senior players. Though they should have been using youth products from the start of their problems rather than releasing 18 and 19 year olds and signing Premier League loans and free transfers like they have done recently. Link to comment Share on other sites More sharing options...
rallyboy Posted 22 May, 2012 Share Posted 22 May, 2012 Michael Appleton has lifted the lid on his surprise decision to let both Ricardo Rocha and Jamie Ashdown leave Fratton Park. Surprise? The club is BROKE! EVERYONE HAS TO GO! A surprise would be paying a fricking bill! Just been reading the comments and even after two years of chaos, the depth of stupidity down East is disturbing. Don't let Ashdown go, give him a pay rise! Futacs is going to rip up League One apparently, no doubt he'll be the plucky hero that fires them to glory at Fortress Fratton....cos that division is a piece of p1ss to walk out of, we all discovered that.... They did fall short of mentioning Michael Owen pulling on the few blue, but so many people still don't get it, and they can't all be posters from here because I'd notice the little clues! .....mainly references to Barbie, toys, bestest etc. One forward thinker has even announced that the figures don't really add up and wonders why anyone would buy them... No sh!t! Welcome to the our world, a bit late, but good you could make it. And the fight for the club future is going to go down to the wire - which technically means it won't be sorted until the end of the sorting process. That's generally how the world works. I'm getting impatient with them again, it must be the heat. Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 While the whole article seems one giant lol written by someone on here, he appears to be a very real person. Company director born in 1976 and possibly living in a PO Postcode....... May e a grain of truth somewhere in that story. http://www.companiesintheuk.co.uk/ltd/family-office-capital-exchange-%28uk%29 Mr Brett Douglas de Bank CEO at FOCAPX (Family Office Capital Exchange (UK) Limited) 7 YORK ROAD WOKING SURREY ENGLAND GU22 7XH Company Registration No.: 07403392 Incorporation Date: 11 Oct 10 1 Year old Financial Year End: 31 Oct Capital: £100.00 on 28 Oct 11 People connected with this Company SERGEY SOKOLOV 03 May 12 director - Appointment ended MR BRETT DOUGLAS DE BANK 13 Dec 11 director - Particulars Changed JOHN ELDER 13 Dec 11 director - Appointment ended MR BRETT DOUGLAS DE BANK 25 Oct 10 director - Appointed JOHN SANDILANDS ELDER 25 Oct 10 director - Appointed SERGEY SOKOLOV 25 Oct 10 director - Appointed https://focapx.com/maintenance.html "FOCAPX is currently experiencing operational difficulties. Please contact us at support@focapx.com if you have urgent query and continue to revisit the site for further updates." Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 Mr Brett Douglas de Bank CEO at FOCAPX (Family Office Capital Exchange (UK) Limited) 7 YORK ROAD WOKING SURREY ENGLAND GU22 7XH Company Registration No.: 07403392 Incorporation Date: 11 Oct 10 1 Year old Financial Year End: 31 Oct Capital: £100.00 on 28 Oct 11 So he can at least pledge on one share to the trust. Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 @pn_neil_allen: Back of the net! Phone answered and we have backpage lead. Sadly I am not at liberty to reveal its nature.But it's a good 'un! #dayatthenews Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 22 May, 2012 Share Posted 22 May, 2012 That will just be on where Ward is going..... Link to comment Share on other sites More sharing options...
Clapham Saint Posted 22 May, 2012 Share Posted 22 May, 2012 @pn_neil_allen: Back of the net! Phone answered and we have backpage lead. Sadly I am not at liberty to reveal its nature.But it's a good 'un! #dayatthenews Pompey in phones reconnected triumph!! Link to comment Share on other sites More sharing options...
St. Neil Posted 22 May, 2012 Share Posted 22 May, 2012 Maybe these new contracts are being offered so that they get some compensation if they go to other clubs, like what happened to us when Gobern went to Huddersfield. Link to comment Share on other sites More sharing options...
carljack Posted 22 May, 2012 Share Posted 22 May, 2012 pompey in phones reconnected triumph!! lol Link to comment Share on other sites More sharing options...
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