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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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trousers

trousers

Posted
Posted

@mattslaterbbc: ...admins still saying it's between PST & Portpin, PST want more time, FL watching closely, Miland could become a factor again

 

@croydonpompey: @mattslaterbbc why Milland become a factor

 

@mattslaterbbc: a lot of new interest in it @croydonpompey I fear it could become a 'ransom strip' again

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trousers

trousers

Posted
Posted
The guy lodging the bid, "Harry Kerr" runs this lot apparently:

 

http://www.avaloninvestment.co.uk/

 

http://m.moneymarketing.co.uk/1034998.article?mobilesite=enabled

 

Harry Kerr

21 July 2011 | By Sam Macdonald

 

The Avalon director blames a lack of interaction between smaller platforms and the FSA on the regulator’s lack of understanding about how they operate even though smaller platforms are a lot closer to IFAs than their bigger counterparts Interview by Sam Macdonald

 

Once you are attached to something, you can’t just give it up, you have to stick with it,” says Avalon director Harry Kerr referring to his beloved football clubs - Hibernian are his Scottish team and Arsenal his English affiliation.

 

:lol:

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trousers

trousers

Posted
Posted (edited)

His 'registered' name would appear to be Henry Kerr, not Harry...

 

http://company-director-check.co.uk/director/906521165

 

Director Summary

 

Henry Kerr has 15 company director or secretary appointments.

 

Short name - Henry Kerr

Director ID : 906521165

 

Company Summary

 

Company Name Company Status

BATH FINE FOODS LIMITED Active

AVALON CONSULTANTS LIMITED Active

XL HOMES LIMITED Active

GOLDEN VALLEY PADDOCKS LIMITED Active

MARKET PLACE FINANCIAL SERVICES LIMITED Active

CHARTERHALL NOMINEES LIMITED Active

AVALON SIPP TRUSTEES LIMITED Active

MINERVA FUND MANAGERS LIMITED Active

AVALON INVESTMENT SERVICES (NOMINEES) LIMITED Active

AVALON INVESTMENT SERVICES LIMITED Active

THE CHILDREN'S ISA LIMITED Active (Director Resigned 10/01/2012)

GOLDEN VALLEY PADDOCKS LIMITED Active (Director Resigned 17/02/2012)

DOYNTON FIELDS LIMITED Dissolved

BLUE TANGERINE ART LIMITED Dissolved

WHITTAWER LIMITED Dissolved (Director Resigned 29/08/2008)

Edited by trousers
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trousers

trousers

Posted
Posted

@SOSPompey: Two BBC journo's contradicting each other regarding the PST bid - who's playing silly buggers? @NabilHassan79 @mattslaterbbc

 

@pompeytrust: Thanks to all those who have directed me to @mattslaterbbc The PST bid remains unchanged and we regard it as best for creditors and club.

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dubai_phil

dubai_phil

Posted
Posted

So 5 bids in Deadline day looms.

 

Portco already complaining that TB is telling them they are too late, yet the Trust need more time.

 

Only 8 pages to go to reach 1500. And to think we held a party when this thread got to page 150.

 

Will Trousers be able to keep up or will he get RSI from trying to cut & paste all day?

 

Will OldNick finally be proved right?

 

Will Rallyboy post something that is NOT perfection for the moment?

 

Will the mighty Truckasaurus find a laptop and make a welcome return?

 

Or will TB tell Chinny to get lost?

 

Plenty to keep us all on F5 throughout the day as we build up to what COULD finally,

 

after all these years of TSW & it's predecessors

 

REALLY

 

 

ACTUALLY

 

be a

 

Takeover Friday?

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hutch

hutch

Posted
Posted
Storrie and Redknapp?

 

Nah...there's wishful thinking and wishful thinking....

If it's true that all the Gaydamak land can be had for around £2.5m then there's a lot of money to be made if Pompey aren't playing football at Fratton Park on a Saturday afternoon any more. So my money's on another property developer.

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Thedelldays

Thedelldays

Posted
Posted
If it's true that all the Gaydamak land can be had for around £2.5m then there's a lot of money to be made if Pompey aren't playing football at Fratton Park on a Saturday afternoon any more. So my money's on another property developer.

 

Especially where it is... Loads of large shops around it and not too far off the M275

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dvaughanwilliams

dvaughanwilliams

Posted
Posted

If the Football League has cleared Chainrai, I don't understand why Birch hasn't let him take over the club.

 

Clearly, his bid is worth more in cash to creditors than the PST. He has an obligation to look at the new bids, but I expect an announcement of the return of Chinny within a week or so.

 

I don't know why there's a sudden interest in a club that's struggling to stay in the third tier with no real assets. Could these bidders be trying to buy a club they know little about or its myriad problems? 'Cause that's never happened before....

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trousers

trousers

Posted
Posted
If the Football League has cleared Chainrai, I don't understand why Birch hasn't let him take over the club.

 

Clearly, his bid is worth more in cash to creditors than the PST. He has an obligation to look at the new bids, but I expect an announcement of the return of Chinny within a week or so.

 

How much discretion does Birch have? Does the court appoint him to simply rubber stamp the best bid (based on finances on paper) or is he 'allowed' to throw ethics and morals into the equation?

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trousers

trousers

Posted
Posted

http://m.portsmouth.co.uk/sport/pompey/pompey-past/fifth-bidder-arrives-with-offer-to-buy-pompey-1-4280286

 

Rumours circulated last night that Pompey fan and businessman Terry Pritchard is involved with the Portco offer.

 

But Mr Pritchard, who was a backer in a failed 2010 takeover bid fronted by 21-year-old Tom Lever, did not respond to calls from The News last night.

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Faz

Faz

Posted
Posted
How much discretion does Birch have? Does the court appoint him to simply rubber stamp the best bid (based on finances on paper) or is he 'allowed' to throw ethics and morals into the equation?

 

He has quite a degree of discretion I believe. As no-one is goung to dump a sack full of cash on the table day one, he needs to decide who has the longer term best chance to get the creditors that tiny proportion of he cash they're due.

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Gemmel

Gemmel

Posted
Posted
How much discretion does Birch have? Does the court appoint him to simply rubber stamp the best bid (based on finances on paper) or is he 'allowed' to throw ethics and morals into the equation?

 

The pst cited some passage from admin law that highlighted there was additional criteria based on which bid was most likely to succeed and honour agreed payments, as well as whta was in the long term interests of the company, but it was all pretty woolly.

 

The problem Birchy has is the additional element of risk and assumption the pst bid holds..... and that is before Portpin go to court over the valuation for fratton - But then if that happened - It would mean more fees for pkf ;)

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trousers

trousers

Posted
Posted
The pst cited some passage from admin law that highlighted there was additional criteria based on which bid was most likely to succeed and honour agreed payments, as well as whta was in the long term interests of the company, but it was all pretty woolly.

 

The problem Birchy has is the additional element of risk and assumption the pst bid holds.....

 

But I guess that's the crux behind my question....is it really a 'problem' for Birch if he ends up choosing a bid that later fails?

 

He doesn't have any (legal) accountability for his decision once it's happened, does he?

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rallyboy

rallyboy

Posted
Posted

Conspiracy Theory no.2731.

The new bidders look potless, have they just been thrown in by interested parties with crazy offers for the ground to support any potential valuation case?

We'll pay £8M for the ground and £1M to football creditors...

Bid clearly fails and is way too late, but might be useful in court when the ground is valued at £2.75M by Trev.

 

 

 

 

If Birch does select the Trust, an enraged Chanrai could have a nice plan B up his sleeve.

 

He'll go straight out and buy the ransom strip next door, thus maintaining his control over the club.

He might need to outbid the assembled property developers, but it's worth more to him for leverage on the neighbours.

It wouldn't surprise me if he's already bought it, or is finalising the deal as we speak.

 

The Trust need to secure everything to be in control of their own future - and they can't afford that.

 

They can buy the steering wheel, but the loan shark could still have the gears, the pedals and the handbrake.

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RingySFC

RingySFC

Posted
Posted

A couple of comments from the “bestset” in the Skate News:-

“Fratton looks like in that Photo like the old greyhound stadium or a tip.So whoever gets the club should take over if they gaurantee that a new ground be built within a year or 2 or no deal.”

Poor delusional Skate – No deal then!

“We need to bit County and a week of training win at home S****horpe and then Yeovil away we should do that ! So 9 points and ownership will take longer.........TB no need to decide on BC or PST as yet. they have passed FL now, its unto TB but he will have to look closely at SAF now and delay to allow that”

WTF??

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fanimal

fanimal

Posted
Posted

The only 'ransom strip' in the area is a small strip of land owned by Sellar Properties (the Landlord of the B&Q opposite) which controls access off the roundabout to the car park (Miland) next to the western stand of the Stadium. The Miland land could easily be redeveloped in isolation from the Stadium.

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SaintRichmond

SaintRichmond

Posted
Posted
http://www.bbc.co.uk/sport/0/football/19657230

 

Not sure how a dissolved or non-existent company can bid for a football club but I'm sure it's perfectly normal in Pompeyland...

 

 

And perfectly OK with the FL

 

I wonder what the hell the hold is that Pompey have over the Football Authorities. Must go back to the WW2 days .... All them tunnels in all them hills

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Big Bad Bob

Big Bad Bob

Posted
Posted
And perfectly OK with the FL

 

I wonder what the hell the hold is that Pompey have over the Football Authorities. Must go back to the WW2 days .... All them tunnels in all them hills

 

Whilst I agree with the sentiments I don't think the FL have seen sight or sound of this bid yet. PKF have to approve it first before the FL have their say so..

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eurosaint

eurosaint

Posted
Posted
Please note .. Portco Ltd has no connection whatsoever with Portpin Ltd

 

Just thought I ought to make that clear ;)

 

Glad you cleared that up, and there was me thinking that Andy Andronikou's granny may have been somehow involved with this company (now dissolved and never having shown any accounts, ever...?).

There are fishy smells and fishy smells, but this one still smells fishy to me :)

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trousers

trousers

Posted
Posted
SulaimanAlfahim ‏@TheRealSulaiman

Why don't all five bidders of #Portsmouth join force together and put £30m in the club to make sure we go back to Premier League in two yrs

 

Retweeted by Neil Allen

 

 

You just could not make this up..... LOL

 

Is the facepalm machine broken or something? :-)

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