melmacian_saint Posted 24 May, 2012 Share Posted 24 May, 2012 Two questions: -If they are not accepted into the FL, aren't they relegated directly to level 11 instead of level 9 (meaning Hampshire League instead of Wessex)? -If they do go bust, what would happen to Fratton Park? Would it be similar to Wimbledon/Plough Lane (waiting for someone to buy off the land)? Link to comment Share on other sites More sharing options...
dubai_phil Posted 24 May, 2012 Share Posted 24 May, 2012 Two questions: -If they are not accepted into the FL, aren't they relegated directly to level 11 instead of level 9 (meaning Hampshire League instead of Wessex)? -If they do go bust, what would happen to Fratton Park? Would it be similar to Wimbledon/Plough Lane (waiting for someone to buy off the land)? Think it has been covered that there was a cut off date for applications to different Leagues. To send them down that far would cause chaos with all the promotion & relegation places throughout the entire Pyramid at this time. It is still touch & go what the FL could do IF they are Liquidated in the summer, clubs have to plan and budget for the League they were supposed to be in Link to comment Share on other sites More sharing options...
trousers Posted 24 May, 2012 Share Posted 24 May, 2012 (edited) Ah...the halcyon days of Pompey Takeover Sagas..... http://www.saintsweb.co.uk/showthread.php?4319-Pompey-Finances-are-boring! http://www.saintsweb.co.uk/showthread.php?5395-Buy-Pompey-for-%A31 http://www.saintsweb.co.uk/showthread.php?11358-Pompey-now-building-2-stadiums! http://www.saintsweb.co.uk/showthread.php?13697-P*mpey-takeover Edited 24 May, 2012 by trousers Link to comment Share on other sites More sharing options...
Ken Tone Posted 24 May, 2012 Share Posted 24 May, 2012 Two questions: -If they are not accepted into the FL, aren't they relegated directly to level 11 instead of level 9 (meaning Hampshire League instead of Wessex)? -If they do go bust, what would happen to Fratton Park? Would it be similar to Wimbledon/Plough Lane (waiting for someone to buy off the land)? Q1 not sure Q2 It would sit and rot for a bit until chainrai inevitably wins the argument with the city council and gets planning permission-- unless he is daft enough to prefer to lease it to a pheonix club, but I doubt they could afford enough rent to make that an attractive option Link to comment Share on other sites More sharing options...
sidthesquid Posted 24 May, 2012 Share Posted 24 May, 2012 Makes you realise what a long drawn out death they have had (and are still having). Three years and counting. God, in that time we had gone broke, been resurrected, got to Wembley and played our way back into the Prem ..... Almost makes me believe in karma. Link to comment Share on other sites More sharing options...
Gemmel Posted 24 May, 2012 Share Posted 24 May, 2012 03-11-2008, 09:12 AM #13 Corporate Ho View Profile View Forum Posts View Blog Entries View Articles Add as Contact Registered User Join Date Dec 2006 Location He plays on the left, he plays on the right, ooooh Matron Posts 893 [h=2][/h]Don't tell me, this is just another example of your complete and utter disinterest in all things Pompey, isn't it? You couldn't care less about us in any way, shape or form could you? Storrie's comments about it being boring were because he's already answered the same question over and over again. He didn't say finances were boring. What he said was that journalists asking the same question was boring and that he'd already answered it, hence the "move on" comment. As for Gaydamak being unable to offload the club and your glee at that apparent fact, what I'd say is that if you wait two weeks (or possibly even sooner) an announcement will be made that will leave you all with egg (or maybe egg foo yung) all over your faces. Sorry to disappoint you :cool ******* long two weeks corpy old son Link to comment Share on other sites More sharing options...
holepuncture Posted 24 May, 2012 Share Posted 24 May, 2012 Makes you realise what a long drawn out death they have had (and are still having). Three years and counting. God, in that time we had gone broke, been resurrected, got to Wembley and played our way back into the Prem ..... Almost makes me believe in karma. Link to comment Share on other sites More sharing options...
rallyboy Posted 24 May, 2012 Share Posted 24 May, 2012 Nice trip down memory lane, you forget how long this sitcom has been running - how's the thread book going? Was it Crab who volunteered for that, shouldn't take too long to edit?.... Just when I thought Barbie Boy only spouted insane gibberish that a deluded simpleton chimp would lap up, I have to admit, he was half right on one thing. two supermarket chains want to be involved, one to build a new store on the current Fratton Park site and the other one to build one adjacent to the new stadium. That should certainly help finance the new stadium. I can't believe ToyMan was that thick, he was on a wind-up wasn't he? You couldn't work in any business and believe the stuff he used to post. He'll be back, you just know it, and he's got months of delusion and the boring frustration of relegation, failure, arrogant inaccurate predictions, and too many toy fairs welling up inside him, he needs to let off steam - it'll be spectacular when he does return. I hope it's as funny as previous efforts - Messi this, billionaire that - there's a limit to how many Avram Grant prostitute gags I can do - I need new material. Maybe I should meet up socially every couple of weeks with the son of the kitman, he was sharp too....then again he should be with his old man on about £150K a year. Its a fantasy world over there. Keep the laughs coming, we have a boring summer to fill. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 24 May, 2012 Share Posted 24 May, 2012 Pompey in administration are still somehow capable of offering better deals than Championship clubs... http://www.portsmouth.co.uk/sport/pompey/pompey-past/barnsley-concede-defeat-in-etuhu-race-1-3880397 Link to comment Share on other sites More sharing options...
trousers Posted 24 May, 2012 Share Posted 24 May, 2012 Pompey in administration are still somehow capable of offering better deals than Championship clubs... http://www.portsmouth.co.uk/sport/pompey/pompey-past/barnsley-concede-defeat-in-etuhu-race-1-3880397 Hmmm.... Link to comment Share on other sites More sharing options...
Saint Mikey Posted 24 May, 2012 Share Posted 24 May, 2012 Pompey in administration are still somehow capable of offering better deals than Championship clubs... http://www.portsmouth.co.uk/sport/pompey/pompey-past/barnsley-concede-defeat-in-etuhu-race-1-3880397 It's just the player showing loyalty, don't you know... Link to comment Share on other sites More sharing options...
Saint_John Posted 24 May, 2012 Share Posted 24 May, 2012 I think this is the decision on the Football Creditors Rule http://www.justice.gov.uk/courts/court-lists/list-chancery-judges COURT 5 Before MR JUSTICE DAVID RICHARDS Friday, 25 May 2012 At half past 10 FOR JUDGMENT TRIAL LIST HC11C00557 Her Majesty's Revenue & Customs v The Football League Ltd Link to comment Share on other sites More sharing options...
buctootim Posted 24 May, 2012 Share Posted 24 May, 2012 I think this is the decision on the Football Creditors Rule http://www.justice.gov.uk/courts/court-lists/list-chancery-judges This one in court 4 at the same time HC11C00192 Gaydamak v Leviev Link to comment Share on other sites More sharing options...
SO16_Saint Posted 24 May, 2012 Share Posted 24 May, 2012 Right... Hsvent been on this thread for a few weeks. Can someone (in 100 words or less) update me pls. Answers on a postcard, or thread reply... Link to comment Share on other sites More sharing options...
Matthew Le God Posted 24 May, 2012 Share Posted 24 May, 2012 I think this is the decision on the Football Creditors Rule http://www.justice.gov.uk/courts/court-lists/list-chancery-judges So if the judge deems the Football Creditors Rule to be wrong, then Pompey will pay any creditors the same x in £ as every other creditor. The Football League won't like the integrity of the competition harmed and hand out a huge points deduction for any club that doesn't pay its football creditors in full despite no rule (in doing so they would have to pay all creditors 100% so they don't give preferential treatment). Am I right? Link to comment Share on other sites More sharing options...
pedg Posted 24 May, 2012 Share Posted 24 May, 2012 Right... Hsvent been on this thread for a few weeks. Can someone (in 100 words or less) update me pls. Answers on a postcard, or thread reply... Slow spiral into the abyss continues. Link to comment Share on other sites More sharing options...
pedg Posted 24 May, 2012 Share Posted 24 May, 2012 So if the judge deems the Football Creditors Rule to be wrong, then Pompey will pay any creditors the same x in £ as every other creditor. The Football League won't like the integrity of the competition harmed and hand out a huge points deduction for any club that doesn't pay its football creditors in full despite no rule (in doing so they would have to pay all creditors 100% so they don't give preferential treatment). Am I right? Question about how retroactive that can be. If, as soon as the judgement is made, pompey propose a CVA paying football creditors 2p how quickly could the league react? i.e. is there a window in which they could get away with paying 2p to football creditors but not get a points penalty for it? Link to comment Share on other sites More sharing options...
Matthew Le God Posted 24 May, 2012 Share Posted 24 May, 2012 Question about how retroactive that can be. If, as soon as the judgement is made, pompey propose a CVA paying football creditors 2p how quickly could the league react? i.e. is there a window in which they could get away with paying 2p to football creditors but not get a points penalty for it? The Football League's AGM comes merely days later, they could vote in new rules. Link to comment Share on other sites More sharing options...
trousers Posted 24 May, 2012 Share Posted 24 May, 2012 The Football League's AGM comes merely days later, they could vote in new rules. Rest assured that any new rules will be subject to "interpretation" by our friends down the road... Link to comment Share on other sites More sharing options...
pedg Posted 24 May, 2012 Share Posted 24 May, 2012 The Football League's AGM comes merely days later, they could vote in new rules. Does make you wonder if the Judge was advised in some way as to when to make the announcement of the decision? If someone wanted to make sure Pompey at least stayed in league 1 then they could not have timed it better. If the judge outlaws the FCR then pompey will have to offer the same deal to all creditors. This may well save chinny some money if he sticks at say 2p but as you say a new rule may well be in place by the time it is accepted. Link to comment Share on other sites More sharing options...
Winchester Red Posted 24 May, 2012 Share Posted 24 May, 2012 COURT 5 Before MR JUSTICE DAVID RICHARDS Friday, 25 May 2012 At half past 10 FOR JUDGMENT TRIAL LIST HC11C00557 Her Majesty's Revenue & Customs v The Football League Ltd Really! Judge is Dave Richards..... Can't see the FL losing when the judge is one of the bosses of the PL ;-) Link to comment Share on other sites More sharing options...
CB Saint Posted 24 May, 2012 Share Posted 24 May, 2012 court 5 before mr justice david richards friday, 25 may 2012 at half past 10 for judgment trial list hc11c00557 her majesty's revenue & customs v the football league ltd really! Judge is dave richards..... Can't see the fl losing when the judge is one of the bosses of the pl ;-) coyjdr Link to comment Share on other sites More sharing options...
badgerx16 Posted 24 May, 2012 Share Posted 24 May, 2012 Question about how retroactive that can be. If, as soon as the judgement is made, pompey propose a CVA paying football creditors 2p how quickly could the league react? i.e. is there a window in which they could get away with paying 2p to football creditors but not get a points penalty for it? But how close would Chinny be to getting a proposal accepted - does he have the necessary %age in support ? Link to comment Share on other sites More sharing options...
trousers Posted 24 May, 2012 Share Posted 24 May, 2012 (edited) @pn_neil_allen: Appleton details #Pompey summer recruitment plans - but doesn't expect post-takeover transfer kitty. http://t.co/d7C5END6 Michael Appleton is preparing for a summer of bargain hunting – even if the club attracts new investment. The Blues boss doesn’t anticipate being given a transfer kitty to bolster his Pompey squad. Instead he will focus on free transfers and out-of-contract players in his bid to add 18 new signings. Appleton has already met Balram Chainrai ahead of his proposed takeover. He has also held talks with the Pompey Supporters’ Trust. Irrespective of who takes control of the club, the Blues boss is concentrating solely on the free agent market. That may rule out players under the age of 24, who despite being out of contract would command a compensation fee under Football League rules. But he is confident he can recruit good players. He said: ‘I would imagine the players I bring in won’t involve transfer fees. ‘Of course I would like to pay small fees and add players to the squad. ‘But I don’t think I am going to get that luxury. ‘It is what it is. I accept that and I’m in talks with players all the time on that basis. ‘I’m looking at having four or five experienced players in there among what should be a 20-man squad. ‘However, the majority of it will be mid-20s. ‘You have got to be careful, you cannot get in too many young players under the age of 24 because you would have to pay compensation. ‘We are not going to be able to fork out too much in that respect so it is something to be watchful about. ‘The likelihood is there will be a lot of 25 to 28-year-olds recruited. ‘But that will still reduce the age of the squad compared to this season. ‘I’m talking to targets every day and things are going okay.’ Appleton is also braced for the Fratton Park exodus to continue this summer. That is to accommodate a streamlined wage bill and players arriving. Across football as a whole the transfer market is exceptionally quiet at present. Pompey have so far managed to sell Jason Pearce and Stephen Henderson, while Joel Ward will depart soon. But Appleton concedes it was always going to be a quiet time of year in terms of player dealing. He added: ‘You rarely get a lot of movement in May, which is understandable. ‘Nobody wants to make the first move, they are just looking at others to do it instead. ‘I expect a lot of movement maybe next month in the transfer market for clubs. Although probably most of it will be done in July or August. ‘There are players who are going to leave, they have to leave. ‘Then hopefully I will be in a position where I can bring players in.’ Edited 24 May, 2012 by trousers Link to comment Share on other sites More sharing options...
pedg Posted 24 May, 2012 Share Posted 24 May, 2012 COURT 5 Before MR JUSTICE DAVID RICHARDS Friday, 25 May 2012 At half past 10 FOR JUDGMENT TRIAL LIST HC11C00557 Her Majesty's Revenue & Customs v The Football League Ltd Really! Judge is Dave Richards..... Can't see the FL losing when the judge is one of the bosses of the PL ;-) Considering where they are heading Judge Davy Jones would have been more appropriate. Link to comment Share on other sites More sharing options...
suewhistle Posted 24 May, 2012 Share Posted 24 May, 2012 ‘You have got to be careful, you cannot get in too many young players under the age of 24 because you would have to pay compensation.' No Appy, but if the club had their own academy and hadn't got rid of the yoof you wouldn't have to pay compensation, would you? See Southampton for an example of playing young, inexperienced players..... I don't particularly blame MA, but they are in a hole of their own making. Link to comment Share on other sites More sharing options...
Fowllyd Posted 24 May, 2012 Share Posted 24 May, 2012 Nice trip down memory lane, you forget how long this sitcom has been running - how's the thread book going? Was it Crab who volunteered for that, shouldn't take too long to edit?.... Just when I thought Barbie Boy only spouted insane gibberish that a deluded simpleton chimp would lap up, I have to admit, he was half right on one thing. two supermarket chains want to be involved, one to build a new store on the current Fratton Park site and the other one to build one adjacent to the new stadium. That should certainly help finance the new stadium. I can't believe ToyMan was that thick, he was on a wind-up wasn't he? You couldn't work in any business and believe the stuff he used to post. He'll be back, you just know it, and he's got months of delusion and the boring frustration of relegation, failure, arrogant inaccurate predictions, and too many toy fairs welling up inside him, he needs to let off steam - it'll be spectacular when he does return. I hope it's as funny as previous efforts - Messi this, billionaire that - there's a limit to how many Avram Grant prostitute gags I can do - I need new material. Maybe I should meet up socially every couple of weeks with the son of the kitman, he was sharp too....then again he should be with his old man on about £150K a year. Its a fantasy world over there. Keep the laughs coming, we have a boring summer to fill. I had to stop reading after a few of Ho's comments - hilarious as they are (all the more so at this remove) they have this cringe-inducing quality which makes me feel uncomfortable somehow. It's almost like mocking the afflicted. That said, the cocksure tone of sneering condescension he always liked to use goes a long towards removing any such feelings; I'll have another read presently... I also find it hard to imagine that he could really have believed all the guff he used to spout. Reading the claims about Chinese billionaires, South African billionaires, Arab billionaires, maybe German billionaires too, I can't help but think - surely he can't really that dim? But if he is, some words from birthday boy Bob Dylan spring to mind: "The idiot wind, blowing every time you move your teeth, You're an idiot babe, it's a wonder that you still know how to breathe." Link to comment Share on other sites More sharing options...
dubai_phil Posted 24 May, 2012 Share Posted 24 May, 2012 I think in the legacy of the passing of Ho I think a special mention is due to his dismissal of the concept of Budgets. I wish I had the searching skills of others, but it was words to the effect... So what about a budget, Rich People can put in what they like Link to comment Share on other sites More sharing options...
dubai_phil Posted 24 May, 2012 Share Posted 24 May, 2012 Oh. FMDP hates this thread. She is watching catch up TV on our version of Sky + at the moment. She is enjoying Once Upon a Time. Apparently I keep spoiling it for her. Whenever a Character says "There are no Happy Endings" I keep blurting out "Oh yes there are, just ask Avram" Link to comment Share on other sites More sharing options...
Matthew Le God Posted 24 May, 2012 Share Posted 24 May, 2012 I think this is the decision on the Football Creditors Rule http://www.justice.gov.uk/courts/court-lists/list-chancery-judges So if the judge deems the Football Creditors Rule to be wrong, then Pompey will pay any creditors the same x in £ as every other creditor. The Football League won't like the integrity of the competition harmed and hand out a huge points deduction for any club that doesn't pay its football creditors in full despite no rule (in doing so they would have to pay all creditors 100% so they don't give preferential treatment). From April... http://www1.skysports.com/football/news/11674/7648507/Rule-could-destroy-Portsmouth Link to comment Share on other sites More sharing options...
Dark Munster Posted 24 May, 2012 Share Posted 24 May, 2012 Think it has been covered that there was a cut off date for applications to different Leagues. To send them down that far would cause chaos with all the promotion & relegation places throughout the entire Pyramid at this time. It is still touch & go what the FL could do IF they are Liquidated in the summer, clubs have to plan and budget for the League they were supposed to be in Actually Phil, I think to send them down that far would cause joy and jubilation throughout the entire Pyramid. All the FL have to do is spare one club from relegation, from L1 down. Simples. Link to comment Share on other sites More sharing options...
Dark Munster Posted 24 May, 2012 Share Posted 24 May, 2012 Both Allen and Jordan Cross write endless streams of drivel. I'd imagine one will be for the chop soon enough as there's not enough L1 news each day for both of them to be there. I'm not sure about that, TopGun. If the past 1261 pages of this epic thread has taught us anything, regardless of the Cheats being in L1 (or lower), there should be plenty of news each day from Krap Nottarf to keep Allen and Cross busy with their endless streams of drivel. Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 25 May, 2012 Share Posted 25 May, 2012 From the Snoozefeed of the Etuhu article... 'Lagoon, try googling "Pearson Capital Asia Falcone" to start with. Or Falcone 88 Queensway Group Hong Kong. Or China Senangol. Or Lev Leviev - (Gaygunrunner's former business partner in an angolan diamond company. Gunrunner is suing Leviev for £2billion, case being heard in London now) The list of names to check will be endless so be wary!! check out Al Fahim's chess connections in moscow while you are at it. If you start on gaygunrunner's history then you will end up with reams of paper, a severe headache and a knackered computer. One thing you will find is that Gunrunner settled his dispute out of court with Chainrai on June 22nd 2010. Good luck!!' Link to comment Share on other sites More sharing options...
trousers Posted 25 May, 2012 Share Posted 25 May, 2012 @pn_neil_allen: Great to see Fred Dinenage pledge for the #Pompey Trust. How? Well he just got in touch with @pompeytrust!! http://t.co/U6w6mr3D Constructive abuse only for Mr Dinenage please....remember that this is a family thread... Link to comment Share on other sites More sharing options...
trousers Posted 25 May, 2012 Share Posted 25 May, 2012 Gunrunner settled his dispute out of court with Chainrai on June 22nd 2010. Good luck!!' Any idea how significant that is, if at all, in terms of what is happening at the moment? I lost the plot a long time ago! :-) Link to comment Share on other sites More sharing options...
Ken Tone Posted 25 May, 2012 Share Posted 25 May, 2012 Could the HMRC v football court ruling actually work for Portsmouth, if as I presume, it isn't applied retrospectively? The last time they went bust, the ruleand AA's sleight of hand helped them fight off HMRC's attempts to close them down, and as a reult HMRC's big debt is now part of the reduced CVA 1 debt, which means they only have a fraction of the size of vote they ought to have. This time around they could use any new rule that doesn't give football creditors proirity to not pay their high wage earners, AND avoid HMRC's artificially enfeebled attempts to liquidate them Link to comment Share on other sites More sharing options...
hutch Posted 25 May, 2012 Share Posted 25 May, 2012 Could the HMRC v football court ruling actually work for Portsmouth, if as I presume, it isn't applied retrospectively? The last time they went bust, the ruleand AA's sleight of hand helped them fight off HMRC's attempts to close them down, and as a reult HMRC's big debt is now part of the reduced CVA 1 debt, which means they only have a fraction of the size of vote they ought to have. This time around they could use any new rule that doesn't give football creditors proirity to not pay their high wage earners, AND avoid HMRC's artificially enfeebled attempts to liquidate them I can't see any outcome that would improve their (read "Chainrai's") position on a CVA vote. Last time all the football creditors, with their 100% guarantees in their back pockets, voted in favour of 20% for all the other losers. But it might possibly weaken their position. It's not inconceivable that, if HMRC lose, football creditors "might" be removed from the unsecured creditor vote, which would improve HMRC's position. Link to comment Share on other sites More sharing options...
Sevvy Posted 25 May, 2012 Share Posted 25 May, 2012 http://www.newsnow.co.uk/A/574715034?-11209 A good read about Rangers problems, but metions Pompey as well, Link to comment Share on other sites More sharing options...
Ken Tone Posted 25 May, 2012 Share Posted 25 May, 2012 The weird thing about the Rangers situation for me is the short-sightedness of the Celtic fans. Without Rangers to give them at least some sort of a fight ,how boring will the scottish league be? Celtic need Rangers to exist and be competitive. a 2 club league is bad enough , but a 1 club league ... after a while, who will watch it? Some might say we would miss portsmouth ,but here there are plenty of other teams to compete with, even if we lose our love-to-hate-them neighours Link to comment Share on other sites More sharing options...
trousers Posted 25 May, 2012 Share Posted 25 May, 2012 http://www.newsnow.co.uk/A/574715034?-11209 A good read about Rangers problems, but metions Pompey as well, Interesting article - cheers for posting. Probably worth uplifting the bit that mentions Pompey, purely for the historical completeness of this thread of course... :-) "If I had to pick just one other name to throw in the air it would be Birmingham City. They have utterly failed to file their accounts for 2010‑11, which were due on 31 December 2011. This is an offence under English law, and a fairly basic one. How can you not have your accounts ready on time – unless there is something profoundly wrong? Meanwhile the owners of the club, Birmingham International Holdings, registered in Hong Kong, has not yet published its own accounts. You might see a pattern here. And just to complete the picture Carson Yeung, who ran the takeover of the club in 2009, is now awaiting trial for money-laundering. My point is that the accounts of lots of clubs don’t make sense. I can understand why a mega rich person might become involved in football for the reflected glory. But I can’t understand how someone can enter the arena and promise the world in terms of all the transfer money needed, only to discover it isn’t there. In this regard Birmingham City again comes to mind (and was reported in this regard on this site) as does Portsmouth." Link to comment Share on other sites More sharing options...
trousers Posted 25 May, 2012 Share Posted 25 May, 2012 @pn_neil_allen: Great to see Fred Dinenage pledge for the #Pompey Trust. How? Well he just got in touch with @pompeytrust!! http://t.co/U6w6mr3D KT285714 Friday, May 25, 2012 at 09:01 AM I still don't get this 'trust bid in the next week or so' line. Surely we need everything tied up by the FL meeting on Thursday? They won't be impressed by "there's a bid due any minute now". They will want PROOF then that we can fulfil all our fixtures next season, or we won't have a next season. If I've got that wrong, someone please explain. oldredeye Friday, May 25, 2012 at 09:11 AM 26 - Not knowing TB's mind I am making an educated guess that having Portpins bid on the table (today?) will stop the clock on that and allow the FL to give us the Golden Share next week. As I've intimated before its almost impossible to get the FL to commit to anything as in their rules anything can be changed "at the discretion of the FL Board". Link to comment Share on other sites More sharing options...
Jimmy_D Posted 25 May, 2012 Share Posted 25 May, 2012 Don't forget that, if the Taxman does win the court case, the players that would then be affected by the CVA and might not be so eager to vote in favour of something that would cost them monies owed. Link to comment Share on other sites More sharing options...
St Chalet Posted 25 May, 2012 Share Posted 25 May, 2012 One assumes if the FCR is overturned today Ben Haim will be made redundant by lunchtime. Link to comment Share on other sites More sharing options...
Ken Tone Posted 25 May, 2012 Share Posted 25 May, 2012 Don't forget that, if the Taxman does win the court case, the players that would then be affected by the CVA and might not be so eager to vote in favour of something that would cost them monies owed. But meanwhile the taxman himself will have only a tiny fraction of his proper vote because the main tax debt is rolled up into CVA1. Link to comment Share on other sites More sharing options...
pedg Posted 25 May, 2012 Share Posted 25 May, 2012 nothing in the media about this which is odd. Definitely the right case as same judge mentioned here: http://www.bbc.co.uk/sport/0/football/15969818 Link to comment Share on other sites More sharing options...
Kingsland Red Posted 25 May, 2012 Share Posted 25 May, 2012 KT285714 Friday, May 25, 2012 at 09:01 AM I still don't get this 'trust bid in the next week or so' line. Surely we need everything tied up by the FL meeting on Thursday? They won't be impressed by "there's a bid due any minute now". They will want PROOF then that we can fulfil all our fixtures next season, or we won't have a next season. If I've got that wrong, someone please explain. oldredeye Friday, May 25, 2012 at 09:11 AM 26 - Not knowing TB's mind I am making an educated guess that having Portpins bid on the table (today?) will stop the clock on that and allow the FL to give us the Golden Share next week. As I've intimated before its almost impossible to get the FL to commit to anything as in their rules anything can be changed "at the discretion of the FL Board". There is a fundamental problem and I go back to my previous comment m'lord. - Why would BC (and AA?), who hold the majority percentage of the creditors vote , vote for the Trust proposals instead of there own Portpin one. The Trust is a complete waste of time unless Birch legally challenges Portpin and that would take months/ years. Link to comment Share on other sites More sharing options...
pedg Posted 25 May, 2012 Share Posted 25 May, 2012 There is a fundamental problem and I go back to my previous comment m'lord. - Why would BC (and AA?), who hold the majority percentage of the creditors vote , vote for the Trust proposals instead of there own Portpin one. The Trust is a complete waste of time unless Birch legally challenges Portpin and that would take months/ years. Possibly the main reason Birch encouraged the trust bid is that if they say offered 4p to creditors it would encourage chainrai to match it to get other creditors to vote with him as he can block with his share but needs others to vote with him to get the vote passed. Link to comment Share on other sites More sharing options...
rallyboy Posted 25 May, 2012 Share Posted 25 May, 2012 it's very clear that whatever happens in the HMRC court case, the FL and FA will make sure that every football creditor gets every penny. That could be done through hefty penalties for non-compliance, or pompey's debt returning to original levels. If the authorities didn't tackle a law change, half the clubs in the league would go into admin by lunchtime and the market would collapse. You could buy Messi for £100M, put down a tenner and ignore the payments. If the court sensibly says that football creditors shouldn't have first shout, the football authorities will act, and if you have to pay everyone the same rate it might be small creditors that benefit rather than football clubs losing out. A new ruling is not the answer to their many problems. Nor is the Trust. Surprised it's so quiet as they are heading for oblivion - only the naivety of the league approving a fantasy financial forecast is going to save them. Link to comment Share on other sites More sharing options...
pedg Posted 25 May, 2012 Share Posted 25 May, 2012 http://www.accountancyage.com/aa/news/2179734/breaking-hmrc-loses-football-creditor-rule-court-battle The High Court has dismissed the taxman's challenge against a controversial football insolvency rule . Link to comment Share on other sites More sharing options...
Joe Kirkup Posted 25 May, 2012 Share Posted 25 May, 2012 @pn_neil_allen: Great to see Fred Dinenage pledge for the #Pompey Trust. How? Well he just got in touch with @pompeytrust!! http://t.co/U6w6mr3D Constructive abuse only for Mr Dinenage please....remember that this is a family thread... Was watching a programme the other morning with him interviewing Mad Frankie Frazer and other Kray associates about the 60s. He seems to think that since he wrote the twins biography with their co-operation he is now part of that "scene". True to form then that he would want to invest. Link to comment Share on other sites More sharing options...
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