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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Ken Tone

Ken Tone

Posted
Posted

How many are left on POL now? Must be close to single figures on-line at once by now surely? I'm surprised that frattoniser has anyone left to argue with.

rallyboy

rallyboy

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Andronikou's legacy at Swindon?

 

Didn't it take him seven years to 'complete' that job last time?

 

Brace yourself for the Football League hitting Swindon with a minus 40 for 'regular insolvency events' while presenting pompey with an award for work with local charities and their assistance with advanced training courses for plumbers.

I presume their fine manager will blame immigration or asylum seekers, and then head off to invade eastern Europe.

 

 

It could be an opportunity for Birch to make a few more quid in his specialist area, so he might want to clear his current workload a bit sharpish.....

trousers

trousers

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Posted (edited)

@pn_neil_allen: RT @neilperrettecho: Top work by @gordonsimpson on Dan Seaborne story, especially as our sister #localpapersalwaysfirst has been banned by #saintsfc for 2 years

 

@pn_neil_allen: @neilperrettecho @gordonsimpson Great job, Gordon! Brothers-in-arms!!

Edited by trousers
trousers

trousers

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http://www.bbc.co.uk/sport/0/football/21058754

 

Stop me if you have heard this one before but Portsmouth were supposed to go to the High Court on Tuesday. In administration (and the relegation zone), millions in debt, senior players up for grabs… oh, you have heard this one before.Fair enough. In the context of their recent history, this adjourned visit to the Royal Courts of Justice was always going to be the equivalent of a tie in the early stages of the Johnstone's Paint Trophy.

But Pompey's next court hearing, on 31 January, could set the date for the biggest fixture in their 114-year history, which is saying something for a club that has contested five FA Cup finals.

The dispute is between PKF, the insolvency firm that has been running the club for almost a year, and Portpin, one of Pompey's five different owners since 2009, and the issue they are arguing about is a fair valuation of the club's Fratton Park home.

 

If PKF win, they will sell the club and all its assets to the Pompey Supporters Trust, giving the fans an opportunity to run the club themselves. If Portpin win, the Trust's plan unravels and it becomes difficult to see Portsmouth FC lasting much beyond its 115th birthday party.

trousers

trousers

Posted
Posted
Why on earth is going into administration to 'reduce debt' an acceptable option for a football club but not any other buisness. It is getting a bit silly.

 

http://www.bbc.co.uk/sport/0/football/21047858

 

I know we are guilty of it too but it does seem a strange contradiction.

 

We didn't go into administration to reduce our debt....indeed, all debts were settled outside of the confines of a CVA.

hutch

hutch

Posted
Posted
Stop me if you have heard this one before but Portsmouth were supposed to go to the High Court on Tuesday. In administration (and the relegation zone), millions in debt, senior players up for grabs… oh, you have heard this one before.Fair enough. In the context of their recent history, this adjourned visit to the Royal Courts of Justice was always going to be the equivalent of a tie in the early stages of the Johnstone's Paint Trophy.

 

But Pompey's next court hearing, on 31 January, could set the date for the biggest fixture in their 114-year history, which is saying something for a club that has contested five FA Cup finals.

The dispute is between PKF, the insolvency firm that has been running the club for almost a year, and Portpin, one of Pompey's five different owners since 2009, and the issue they are arguing about is a fair valuation of the club's Fratton Park home.

 

If PKF win, they will sell the club and all its assets to the Pompey Supporters Trust, giving the fans an opportunity to ruin the club themselves. If Portpin win, the Trust's plan unravels and it becomes difficult to see Portsmouth FC lasting much beyond its 115th birthday party.

A minor edit for the sake of accuracy.

Waterside.saint

Waterside.saint

Posted
Posted (edited)
250px-Gimbatulash.jpeg

 

The Scumfinder General

 

Exactly the one I was thinking of!

 

Quite. Wasn't he the one that, when the subject of fresh meat supplies was being discussed in relation to eating some Hobbits and was knocked back by a senior orc on account of their being wanted alive by the authorities, asked

"What about their legs? they don't need their legs"

Edited by Waterside.saint
Big Bad Bob

Big Bad Bob

Posted
Posted
I've read it 3 times and still can't spot the difference!

 

Stop me if you have heard this one before but Portsmouth were supposed to go to the High Court on Tuesday. In administration (and the relegation zone), millions in debt, senior players up for grabs… oh, you have heard this one before.Fair enough. In the context of their recent history, this adjourned visit to the Royal Courts of Justice was always going to be the equivalent of a tie in the early stages of the Johnstone's Paint Trophy.

 

But Pompey's next court hearing, on 31 January, could set the date for the biggest fixture in their 114-year history, which is saying something for a club that has contested five FA Cup finals.

The dispute is between PKF, the insolvency firm that has been running the club for almost a year, and Portpin, one of Pompey's five different owners since 2009, and the issue they are arguing about is a fair valuation of the club's Fratton Park home.

 

If PKF win, they will sell the club and all its assets to the Pompey Supporters Trust, giving the fans an opportunity to ruin the club themselves. If Portpin win, the Trust's plan unravels and it becomes difficult to see Portsmouth FC lasting much beyond its 115th birthday party.

 

it's the last "run" changed to "ruin"

for_heaven's_Saint

for_heaven's_Saint

Posted
Posted
Quite. Wasn't he the one that, when the subject of fresh meat supplies was being discussed in relation to eating some Hobbits and was knocked back by a senior orc on account of their being wanted alive by the authorities, asked

"What about their legs? they don't need their legs"

 

Yup. And funnily enough, every time it looks like Pompey are back on track and then they manage to f*ck it up again and I visit this thread, I'm reminded of him saying 'looks like meat's back on the menu boys!'

latter day saint

latter day saint

Posted
Posted
Quite. Wasn't he the one that, when the subject of fresh meat supplies was being discussed in relation to eating some Hobbits and was knocked back by a senior orc on account of their being wanted alive by the authorities, asked

"What about their legs? they don't need their legs"

he also had a wingey cockney style voice. can just imagine him shouting "facking scummers!" while frothing at the mouth

toofarnorth

toofarnorth

Posted
Posted
We didn't go into administration to reduce our debt....indeed, all debts were settled outside of the confines of a CVA.

 

I'm pretty sure when we went into administration it was to protect ourselves from those we owed money. As it turned out we paid them back but i'm pretty sure that wasn't the plan all along.

 

But I get your point.

trousers

trousers

Posted
Posted
I'm pretty sure when we went into administration it was to protect ourselves from those we owed money. As it turned out we paid them back but i'm pretty sure that wasn't the plan all along.

 

But I get your point.

 

My recollection:

 

Barclays forced us into administration by reducing our overdraft at short notice and then bounced a mere £4 grand cheque which tipped us over the edge.

 

Yes, we were struggling to keep our heads above water but, as far as my understanding of the situation goes, our debts were 'under control' before Bsrclays moved the goalposts.

derry

derry

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Posted

The club never went into Administration. The bills had to be paid. SLH went into administration and ML bought it's assets that's why there was no CVA necessary.

Spudders

Spudders

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Premier Inn has to be cheap cos Lenny Henry has personally cracked one off in every bed.

 

Hi Bearsy, hope you are well. Sorry to trouble you, but how do you know this? I stayed with a girl at a Premier Inn (this was a few years ago when girls still spoke to me). Does this mean that I've had an indirect threesome with Lenny Henry?

rallyboy

rallyboy

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Posted

I've downgraded tomorrow to the most depressing day of the year so far, even though it's likely to be snowing it will officially be Black Friday...

 

So if you want to escape the gathering storm, chill with Nutjobs, escape the madness all around us and laugh at pompey as light relief, this thread will be the place for you.

Tokyo-Saint

Tokyo-Saint

Posted
Posted
Hi Bearsy, hope you are well. Sorry to trouble you, but how do you know this? I stayed with a girl at a Premier Inn (this was a few years ago when girls still spoke to me). Does this mean that I've had an indirect threesome with Lenny Henry?

 

Who hasn't?

hutch

hutch

Posted
Posted
My recollection:

 

Barclays forced us into administration by reducing our overdraft at short notice and then bounced a mere £4 grand cheque which tipped us over the edge.

 

Yes, we were struggling to keep our heads above water but, as far as my understanding of the situation goes, our debts were 'under control' before Bsrclays moved the goalposts.

I'm not picking on you trousers, but that's wrong.

 

Barclays forced us into insolvency. We chose administration as the way out.

trousers

trousers

Posted
Posted
I'm not picking on you trousers, but that's wrong.

 

Barclays forced us into insolvency. We chose administration as the way out.

 

Ah, ok - fair dos. I guess the difference I'm trying to highlight is that we may not have needed to choose the admin route if Barclays hadn't 'engineered' the insolvency situation...

Gemmel

Gemmel

Posted
Posted (edited)
I'm not picking on you trousers, but that's wrong.

 

Barclays forced us into insolvency. We chose administration as the way out.

 

That's what I always thought, but met Lowe about 18 months ago and he was very adamant (And angry) that Barclays put us in admin. I pushed him on it as to wthether they just forced our hand and he insisted they put us in admin.

 

May be it is just symantics and we actually chose that route, but from my understanding it was thier choice, but I guess we will never know one way or the other.

Edited by Gemmel
SaintRichmond

SaintRichmond

Posted
Posted
@TonyHusbandBBC: I think the big freeze is about to hit- pitch inspection at S****horpe 9.30 tomorrow ahead of #pompey trip.

 

 

Lets hope that all the Skates don't get trapped under the ice

hutch

hutch

Posted
Posted
That's what I always thought, but met Lowe about 18 months ago and he was very adamant (And angry) that Barclays put us in admin. I pushed him on it as to wthether they just forced our hand and he insisted they put us in admin.

 

May be it is just symantics and we actually chose that route, but from my understanding it was thier choice, but I guess we will never know one way or the other.

Appointed by the board of SLH apparently, according to the statement issued by the Stock Exchange:

 

LONDON, April 2 (Reuters) - Southampton Leisure Holdings , the parent company of Southampton soccer club, on Thursday said it had appointed Begbies Traynor as its administrator and that three of its directors had resigned.

 

"The board has appointed Mark Fry and David Hudson of Begbies Traynor as joint administrators to the company. Rupert Lowe, Andrew Cowen and Michael Wilde have resigned as directors of the company with immediate effect," Southampton Leisure Holdings said in a statement.

 

It added that Southampton Football Club Ltd, a subsidiary of the company, would be unaffected by the insolvency proceedings.

 

Not that it really matters.

pedg

pedg

Posted
Posted

Not to get side tracked again but if going into admin was the only real sensible response to what Barclays did then I think you could get away with saying they put us into admin. If you push someone off a cliff the fall may be what killed them but that does not mean its not your fault.

trousers

trousers

Posted
Posted
Appointed by the board of SLH apparently, according to the statement issued by the Stock Exchange:

 

Not that it really matters.

 

The analogy I would use is a gunman pointing a gun at my head drags me to the nearest cash machine. I'm the one pressing the buttons but he's the one giving me no choice...

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