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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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trousers

trousers

Posted
Posted

Some interesting parallels in this blog about the head-in-sand mentality of Rangers fans....

 

http://oldpesky.blogspot.co.uk/2012/07/tae-see-oursels-as-others-see-us.html?spref=tw

 

In recent months vociferous supporters of Rangers Football Club have continually refused to listen to the opinions of others, claiming everyone was against them and their collapse was part of some dastardly Timmy plot orchestrated by Celtic’s Peter Lawwell.

 

This kind of outlook smacks of the spoilt child syndrome where everyone is to blame but themselves.

 

Instead of opening up to outside opinions during their time of need they closed ranks, which history shows, has always been the Rangers way.

 

In the past all Rangers problems, if and when any occurred, were dealt with in-house, away from prying eyes. If the club made any statement it was always just to confirm the matter was being dealt with, and that was that.

 

There was a culture of not speaking about or criticizing the club in public.

 

The club was always right, no matter what.

 

Anyone who said anything against Rangers, no matter how true, was labeled as anti-Rangers.

 

That still is the Rangers way.

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trousers

trousers

Posted
Posted

 

Hush my friend....you'll give the game away if you're not careful.... ;)

 

Under no circumstances would I urge you to send that link to the requested email address and copy in the Football League.

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andysstuff

andysstuff

Posted
Posted

E-mail them.

 

In relation to your plea for creditors to come forward, always happy to help – here’s the list.

http://www.uhy-uk.com/assets/media/download/turnaround-and-recovery/PFC%20CVA%2028th%20May%20Final2.pdf

 

Hopefully you can now contact them all before the weekend and see if they are happy to receive 0.04p in the pound.

 

Good luck for fielding a competitive team next season.

 

 

Best Wishes

 

Andysstuff

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Colinjb

Colinjb

Posted
Posted
Does it really matter? Not sure what good it will do. If you were owed £10,000 and a company ends up paying you £40 would you be happy to support them in a case of removing a points deduction?

 

It's pure and simple desperation. Shows how close to the endgame they are.

 

And as Matthew Le God has said, if it were me I would have only one response; F**k you. Remember though, that the bulk of creditors are probably also run by Skates and may be a little more lenient.

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saint lard

saint lard

Posted
Posted
Hush my friend....you'll give the game away if you're not careful.... ;)

 

Under no circumstances would I urge you to send that link to the requested email address and copy in the Football League.

Too late I did that over an hour and a half ago....and i tweeted the link to them also.

no bloody excuse now I'm afraid.

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Matthew Le God

Matthew Le God

Posted
Posted
It's pure and simple desperation. Shows how close to the endgame they are.

 

And as Matthew Le God has said, if it were me I would have only one response; F**k you. Remember though, that the bulk of creditors are probably also run by Skates and may be a little more lenient.

 

Surely to have any chance of removing the deduction they would need 100% support from the 2010 creditors. I can't see HMRC being happy with today's plea for help.

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Colinjb

Colinjb

Posted
Posted
Surely to have any chance of removing the deduction they would need 100% support from the 2010 creditors. I can't see HMRC being happy with today's plea for help.

 

Well, it is a measure of pure desperation.

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mcjwills

mcjwills

Posted
Posted

 

MLG you have to realise that they only have the business adresses of all the companies that they have put under. Many of the poor s*ds have lost their livelyhoods due to the theft by the oldco skates and consequently the adresses are now invalid and this is the reason TB is begging for them to contact him. Personally I think the league should ensure 100% agreement from all creditors before any points deductions is reversed.

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andysstuff

andysstuff

Posted
Posted
Surely to have any chance of removing the deduction they would need 100% support from the 2010 creditors. I can't see HMRC being happy with today's plea for help.

 

And their biggest problem is going to be 50% of the creditors were made up by AA*, they've not even got a hope of getting a majority of them in favour.

 

 

 

 

 

 

*alledgedly

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standy

standy

Posted
Posted
ok whats going on now! trying to get back their 10 points?

 

http://www.portsmouthfc.co.uk/LatestNews/news/Urgent-Plea-To-2010-Creditors-3538.aspx

 

This is an urgent plea to creditors of Portsmouth City Football Club Ltd, the old company which entered administration in February 2010.

 

The club need all such creditors to contact us with names, addresses and email addresses immediately as a matter of great importance.

 

Time is of the essence as the fight goes on to save this great football club with 114 years of glorious history behind it.

 

2010 creditors are vital to the process.

 

We need these details so that we can contact all 2010 creditors, inviting you to decide whether you are in favour of or opposed to the latest CVA proposal approved in June 2012 in order that we can lobby The Football League to withdraw the 10 point deduction.

 

 

Surely they should have all this info on record?

 

 

Ive sent my reply by E-Mail but do not expect any reply

Sir

I am a UK tax payer and as such a crediter of your football club. I am absolutely disgusted with the way that Portsmouth Football club has acted. You have paid vast salaries to players, often outbidding revial clubs in the process. At the time you did not have the funds to afford to do this and as such ran up bill of £130million and then went on to do the same again.

 

I understand that you wish for us 'creditors' to say how wonderful that we think your actions were. I believe that your actions were vile and probably criminal.

 

Please feel free to quote me in your submission to the football authorities

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holepuncture

holepuncture

Posted
Posted

 

 

I 'CC the FL with all my emails.

 

 

 

Dear Trevor and PFC

 

Further to you 'Urgent Plea To 2010 Creditors'

 

To help you proceed with your plans to "lobby The Football League" , please find attached link from the administrator of CVA MK1.

 

Page 79 I believe is the start of the mammoth creditors list! In fact, rather than a desperate and rather suspicious 'plea', simply googling 'pfc cva 2010' will find this document for you... four or five down on page one!

 

This is the original CVA MK1 which subsequently was diluted into CVA MK2, without creditor approval, not a penny was ever paid.

 

http://www.uhy-uk.com/assets/media/d...y%20Final2.pdf

 

http://www.portsmouthfc.co.uk/LatestNews/news/Urgent-Plea-To-2010-Creditors-3538.aspx

 

What on earth you feel you have to appeal against is beyond me. Unless you wish to pay the £130m + £50m back, which included around £40m of tax payers money (let alone the charities) - then I commend you.

 

Kindest Regards

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saint si

saint si

Posted
Posted

Correct me if i'm wrong, but of the OldCo creditors wrapped up in to the one neat bundle managed by Baker Tilley isn't HMRC by far the lion's share, as all the football creditors are not included in that (even though they got to vote)?

 

Does anyone have an idea of how much?

 

i.e. how much is the BT amount worth in total, and what was HMRC's claim?

 

Presumably if they are going to try and set up some sort of crazy secondary CVA vote, then HMRC will wipe the floor with them?

 

And a further thought - if they do go ahead with this, wouldn't it effectively be an admission that the oldco/newco ploy was in fact just a ruse to work around insolvency legislation, and that the CVA1 creditors should still really be considered creditors of the newco after all?

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Crab Lungs

Crab Lungs

Posted
Posted (edited)

I'm pretty sure I can hear a dull thud from the east... *thud, thud, thud*

 

No, it's not Avram's betty swollocks thumping against the pert bottom of a Thai masseuse, oh no... it's better than that. It's sound of hammer against nail. Nail against coffin. My word, there's an abundance of nails already dutifully banged in and now there is only a few to go. Now we just need to stuff this vile, stinking football club into it's final resting place and we'll have ourselves a rap, ladies and gentlemen.

 

It appears TB's latest publicity stunt is purely a futile gesture to placate a very dim audience. Sure, a few more of woken up and subsequently identified the steaming hot cup of Joe but there is a still a few around who refuse to acknowledge blame, let alone the seriousness of the situation.

 

Another pointless charade, much like the trialists trip to Spain.

 

In a way, the actions of the club remind me of someone in a desperate situation telling you that everything really is OK when in reality, it's not. It really, seriously is not. Through the thinly-veiled act, you can see them squirming for a way out, praying that you buy their tall-tales and fantasies.

 

"I'll pay you tomorrow, I promise". Another empty, fruitless plea.

 

It's time for the dealer(s) to cock the revolver and put it to the forehead of this worthless sack of misery... and pull the trigger.

 

The almost lifeless body of football's biggest junkie is in it's final throes. I believe it's made one of it's last desperate pleas, but the dealer(s) not having any of it.

 

I hope I wake up soon and find what little brains this absurd and tiresome entity has painted across the pavement of a dark alley. That said, I hope they can survive long enough so that as they lie there in a gutter and the turds nestle beside them, they have a little time to think about their disgraceful actions.

 

WTFILN

Edited by Crab Lungs
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EastleighSoulBoy

EastleighSoulBoy

Posted
Posted
MLG you have to realise that they only have the business adresses of all the companies that they have put under. Many of the poor s*ds have lost their livelyhoods due to the theft by the oldco skates and consequently the adresses are now invalid and this is the reason TB is begging for them to contact him. Personally I think the league should ensure 100% agreement from all creditors before any points deductions is reversed.

 

I'd like to add just one caveat. The result is declared by value of debt, prior to the 2010 Administration.

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qwertySFC

qwertySFC

Posted
Posted

 

A shocking read of pages and pages of individuals and business they are still shafting - yet happy to up their spin by offering players more and more and more wages

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Saint_John

Saint_John

Posted
Posted

Have they appealed in time ? Have they appealed at all or are they just "playing the media" again ?

 

The nearest I can find in the FL rules is as follows (although nothing fits the Cheats exactly):-

 

The statement from the FL last week (12th) said

http://www.football-league.co.uk/footballleaguenews/20120712/league-board-makes-membership-offer-to-portsmouth_2293334_2847729

The Football League Board has absolute discretion as to whether to admit any new company as a member of The League. In doing so, it has to strike a balance between giving a club another chance and the effect this has on sporting competition between clubs. Through its Insolvency Policy.......

 

Now the Insolvency Policy is covered in Section 3 of the rules under "12.3 Sporting Sanctions" although most of it talks about "going into Admin", rather than the Cheats fixing the 1st CVA. However it does mention an Appeal process.

http://www.football-league.co.uk/regulations/20120702/section-3-the-league_2293633_2125717

12.3.10 A Club may appeal:

(a) against a decision of the Board to impose a points deduction arising from an Insolvency Event of a Group Undertaking under Regulation 12.3.2; and/or

....

12.3.12 Any Appeal must be in writing and be received by The League at its registered office no later than 7 days after The League serves the Notice. The Appeal must contain a statement setting out the grounds of appeal and provide copies of any documentation upon which the Club intends to rely in support of the Appeal.

12.3.13 The Club must also lodge with the Executive, at the same time as the Appeal, a deposit of £5,000 in respect of the costs of the Appeal.

 

So if they are covered by the "7 day" appeal notice they should have put their appeal in today with "copies of any documenation", yet they only ask for the names of the creditors from the 1st CVA today ?

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dubai_phil

dubai_phil

Posted
Posted
Have they appealed in time ? Have they appealed at all or are they just "playing the media" again ?

 

The nearest I can find in the FL rules is as follows (although nothing fits the Cheats exactly):-

 

The statement from the FL last week (12th) said

http://www.football-league.co.uk/footballleaguenews/20120712/league-board-makes-membership-offer-to-portsmouth_2293334_2847729

 

 

Now the Insolvency Policy is covered in Section 3 of the rules under "12.3 Sporting Sanctions" although most of it talks about "going into Admin", rather than the Cheats fixing the 1st CVA. However it does mention an Appeal process.

http://www.football-league.co.uk/regulations/20120702/section-3-the-league_2293633_2125717

 

 

So if they are covered by the "7 day" appeal notice they should have put their appeal in today with "copies of any documenation", yet they only ask for the names of the creditors from the 1st CVA today ?

 

Perhaps we have been far too generous in our recording of the travails of the fish.

 

Methinks we should have simply adopted the dodgy referee song from the off.

 

Seeing as TB was formerly the head of a football club, and was rumoured to be in line for a return to football at SMS with one of the many tyre kicking bids back in the day, think we dodged a bullet there.

 

Anyways, I'll head off to bed humming

 

You don't know what you're doing...........

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hutch

hutch

Posted
Posted

That appeal process is aimed at clubs that have points deducted for going broke while holding a golden share.

 

It doesn't apply to the Skates.. There is nothing for them to appeal against. They haven't had any points deducted. And when they do, they won't be able to appeal either, because they will already agreed to the deduction in advance. Otherwise they won't be offered the golden share. I don't think any Court can instruct a private member's club how it must exercise it's absolute discretion.

 

It's watertight, and they're screwed.

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Dark Munster

Dark Munster

Posted
Posted
How will they vet the validity of anyone emailing them if they don't know who the creditors are in the first place? Can't they simply ask Baker Tilly for a list....?

 

Perhaps some of us nutjobs should contact them, claiming we're creditors and promising to contact the FL about the 10 point penalty?

 

Of course the Cheats won't know that we'll reject the CVA and will ask the FL to triple the penalty.

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Dark Munster

Dark Munster

Posted
Posted

spoiler-fan.jpg

Oh bless, his hat's gone floppy. I wonder if his mum ever washes and starches it for him?

 

:lol:

 

It's like a sad Asterix, with his feathers going limp.

 

ast-boek.jpg

 

I can see TCWTB's hat suffering a total collapse soon, when his cesspit of a club does the same.

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Lazlo78

Lazlo78

Posted
Posted

 

Nice quote:

 

"As Collins said to Clarke, ‘It’s too easy for clubs to rack up debts, go into administration, walk away from them and carry on playing and there’s not really a downside to this.’ How that makes them ‘a force for good’ in their communities is difficult to fathom."

 

While he clearly doesn't find it justifiable that Saints fans claim that Pompey fans should have seen it coming, I think this SJMaskell has written an interesting piece. Sure we may discard it with a handy "it's been covered in this thread ages ago", but I still think it's quite something that a Pompey fan is able to take a long hard look at the mismanagement of his own club and not automatically go in defensive mode...

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Micky

Micky

Posted
Posted

A letter, apparently doing the rounds on Facebook, which I have just lifted off of thier fansonline site. You may be enjoying their demise but you have to feel for fans such as these - this is the real reason why liquidation and a new start is the only right and proper outcome to this whole stinking mess.

 

 

 

"A letter from a Pompey Fan:

 

Dear Pompey (whatever comany you are this 1/4er)

 

Your urgent request poped up on my RSS feed calling for CVA 2010 creditors to get in touch, so I felt obliged to contact you, although im not sure why really after the way PFC treats its local community, business partners and sponsors.

 

( http://www.portsmouthfc.co.uk/Latest...tors-3538.aspx )

 

So, you want me to confirm I am satisfied that the club I used to love ruined my life? How about a little background...

 

I would like to point out that I was a victim in the previous Portsmouth 2010 administration, and as such I no longer run my freelance photography business as a result of the clubs collapse. A few thousand pounds may not mean much in the world of football but to a one man band like myself it is enough to ruin you. I now work in a shop, but at least I managed to keep my mortgage repayments up.

 

Now, as you are aware us creditors were pushed (I wont go as far as blackmailed) into accepting a CVA which payed a dividend of 20% of the original debt. The payment schedule was over a period of five years, however our first installment was pushed back to 2012. This was never going to solve the problems this administration had placed on my business, as a sole trader I knew it would finish me off either way and as such I simply voted with little care for myself.

 

Whilst I found it incredibly disturbing and deeply insulting to see the club continuing to sanction player purchases and associated salaries, I understand football and the nature of the beast of remaining competitive so it was something I had to accept, even though I was unable to continue my freelance work with the club.

 

To see the club go back into administration again this season was simply staggering, and discovering they had racked up more dozens of millions of debt, whilst never getting round to paying mine or any other poor souls from the creditors meetings a penny of our dividend, left me in a state of almost shock.

 

I am currently receiving correspondence from PKF regarding the 2012 administration (despite having to wind my business up), and I am told the original 2010 CVA debt will now be diluted into a 2012 CVA, and as such the 20% dividend will now be 2% of 20%.

 

What a generous offer from Mr Chainrai!

 

As a result my original debt in full will have gone from approximately £3000 to £12, and more importantly without my consent this time round. Not that I really had a say last time round, as Andronikou kept finding more debts to the point he magically produced the 75% he needed to stop HMRC liquidating the club.

 

That is absolutely scandalous and I cant help but think that if I tried to behave like that, I would be in prison by now!

 

As I have mentioned, I had to wind my business (and dreams) up so the debts owed to me are irrelevant what ever percentage they finally decide this time round.

 

 

So thats my background. Now I will consider your question again, am I in favour of CVA MKI being diluted into CVA MKII without my consent?

 

Let me highlight the financial consideration again: £3000 * 20% * 2% = £12 (with no consent)

 

How about you go and choke. You can shove your CVA and stick your proposals on an expensive trip to Gibraltar. My life is in ruins because of your behaviour, I want to see PFC struck right down to the lowest level of the game, only then will I continue to support the club I formerly loved that destroyed everything I had built up.

 

I sincerely hope you can understand quite how much distress this has cause myself and my family.

 

Regards

 

P*** ******

 

PFC fan 1965 - 2010"

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Lazlo78

Lazlo78

Posted
Posted
A letter, apparently doing the rounds on Facebook, which I have just lifted off of thier fansonline site. You may be enjoying their demise but you have to feel for fans such as these - this is the real reason why liquidation and a new start is the only right and proper outcome to this whole stinking mess.

 

I don't know quite how to break this to you but... ummm... this letter is not unfamiliar to avid readers of this saga... :)

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Micky

Micky

Posted
Posted
I don't know quite how to break this to you but... ummm... this letter is not unfamiliar to avid readers of this saga... :)

 

Oh right - long day, the saga is too long for me to keep track now. I take it the letter is a plant, spoof, windup, fake....... whatever.....

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tony13579

tony13579

Posted
Posted (edited)
How can £3k ruin his life? Loser

 

£56.20 nearly ruined my life! When a certain electricity company took my direct debit every day until my account was empty. And then the bounced payments started flooding in! Every utility, insurance, credit card taking their money twice and bouncing. It took months to unravel the mess. The bank finally refunded all of my penalty payments.

 

Apart from MC missing the plot of this continuing story. Not having money promised really can ruin your life..

Edited by tony13579
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trousers

trousers

Posted
Posted
How can £3k ruin his life? Loser

 

The same way a similar amount sunk Southampton Football Club a few years back I guess. Straws and camels etc. (p.s. yes, I know the £3k in this case is fictional but it's not that far fetched)

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trousers

trousers

Posted
Posted (edited)

http://m.portsmouth.co.uk/sport/pompey/pompey-past/new-pompey-coach-has-boots-at-the-ready-1-4076488

 

I don't recall the Football League giving Pompey permission to sign a player-coach...In fact, didn't the FL block Pompey employing him as just a coach last week, let alone a player-coach

 

(yes, I know these are only friendlies and the usual rules probably don't apply...as if they ever do at PFC)

Edited by trousers
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