dubai_phil Posted 2 March, 2010 Share Posted 2 March, 2010 So what does Tanya saying that signify then ?? Is that bad for PFC ?? Bad - It's Fatal The FD says the club never had the money from Chanrai. he used the word Her EVIDENCE The money went to Falcondome. ie Chanrai is a creditor of Falcondrone NOT PCFC So he cannnot put them into admin so the WUO hearing should have happened yesterday But the Brief is playing it much smarter than that Link to comment Share on other sites More sharing options...
Joensuu Posted 2 March, 2010 Share Posted 2 March, 2010 So what does Tanya saying that signify then ?? Is that bad for PFC ?? I think that, if Portpin lean't to Falcondrone and not PCFC, that would make Chainrai just the leading shareholder of PCFC, and not the owner nor a secured creditor. i.e. he can't call in the admins... Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 2 March, 2010 Share Posted 2 March, 2010 I reckon GM's going down a storm on there at the moment... ;-) He's making them smell the coffee..big time. If only they'd read this thread... ;-) Link to comment Share on other sites More sharing options...
aintforever Posted 2 March, 2010 Share Posted 2 March, 2010 Are they basically saying that Chanrai gave them nothing, just said he did so he can pull out the cash owed to him by Gaydamak Snr? Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 Mr Mitchell wants a hearing on March 8 to determine whether the club was put into admin validly. If not valid then the hearing will hear winding up petition. He said: 'We accept that there may be a valid appointment. It would be wrong for the court to proceed today and hear our petition. But the question of validity is a matter that requires very urgent determination. 'If there's no valid appointment then the court would go on to hear the petition.' Tuesday March 2, 2010 11:51 Matthew Link to comment Share on other sites More sharing options...
StuRomseySaint Posted 2 March, 2010 Share Posted 2 March, 2010 Hello Stu. [Comment From Romsey Romsey : ] Who is Tanya Robins? She could see the end of us!!! Tuesday March 2, 2010 11:48 Romsey Hello :-) Link to comment Share on other sites More sharing options...
SO16_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 court hearing march 8th to hear validity of admin / WU Link to comment Share on other sites More sharing options...
Weston Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Chainrai's lawyer Ashok Patel is in court Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 Thats a day after my birthday, top present! Link to comment Share on other sites More sharing options...
badgerx16 Posted 2 March, 2010 Share Posted 2 March, 2010 This is distracting me from our PCI/DSS compliance statement; it's no longer a car crash, it's a train wreck ! Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 Payroll is suffering here too Link to comment Share on other sites More sharing options...
Joensuu Posted 2 March, 2010 Share Posted 2 March, 2010 If HMRC manage to get the court case they seek, Admin would effectively be suspended. Who would manage PCFC for the next few days? Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Ahh, cheers guys (channon, Dubai and Joensuu) I guess that doesn't sound good at all then. Guess that is why it has all gone quiet, perhaps they are waiting to place the final nail in the coffin. What more ammo do they need ?? The club cannot actually support itself financially, i.e it is insolvent. Chanrai is personally funding the admin team, as they would not be able to keep the club going on their own, so that A. Questions the validity of the administration in the first place and B. Questions whether Baloo is recieving preferential treatment. And now it seems that on TR's evidence that they should not have entered admin anyways. LOL COYHMRC Link to comment Share on other sites More sharing options...
Joensuu Posted 2 March, 2010 Share Posted 2 March, 2010 Portpin paying £15m to support club, why? Link to comment Share on other sites More sharing options...
pedg Posted 2 March, 2010 Share Posted 2 March, 2010 One would guess that as well as wanting a return visit to the court that they are going to ask for permission to have a right good rummage through all the documents they can get their hands on? Link to comment Share on other sites More sharing options...
SO16_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Pompey up now.... Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 This is much more fun than working Link to comment Share on other sites More sharing options...
saint_mears Posted 2 March, 2010 Share Posted 2 March, 2010 HMRC wants 2 c Fuglers accounts (used by Jacob as club bank). It says 'we know millions went out to Chainrai in Feb' Link to comment Share on other sites More sharing options...
pedg Posted 2 March, 2010 Share Posted 2 March, 2010 Portpin paying £15m to support club, why? Especially if they end up not being a prefered creditor. :p Link to comment Share on other sites More sharing options...
DS Posted 2 March, 2010 Share Posted 2 March, 2010 Half time Lol Highlights of the court case: Lol #1: Taxman indicates that it costs approx 7 million per month to run Partsmurf, as they will need 7 million to get to end of March and another 14 million to get to end of season. Lol #2: Storrie Teller tells the nice men at Vantis a Storrie about the playing squad being worth £38,000,000. Big bad Mr Taxman doesn't believe it. Lol #3: HMRC confirm what some here have speculated for a while: there could be issues with the legitimacy of Chainrai's 'charge' Lol #4: HMRC don't believe the Storries about PCFC owing Portpin 13.5 million Lol #5: Agent Robins grassing on all the crooks at Nottarf- gave HMRC evidence that Portpin lent money to Falcondrome not HMRC (again, as speculated by GM on here). Lol #6: HMRC wants to see Fuglers accounts as millions went to Chainrai in February from these accounts! Lol #7: HMRC, after providing clear indications that they believe the charge is invalid, want a hearing on March 8th to determine validity of charge. If not valid they want WUP heard. Half time analysis before they start their defence: Pompey are toast. To steal a phrase from Smirking Saint: COYHMRC :-D Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Portpin paying £15m to support club, why? I suspect because A. The club would never be able to support itself through admin. And B. Because Baloo is only interested in seeing his money. Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 March, 2010 Share Posted 2 March, 2010 Well, that sends us into another week and onwards to the magical 25,000 mark. I love the way that at no point in that address to the court have they made any allegations, they simply painted a picture. That Brief would make a hell of a salesman. So, the next step on here must be a review of all the evidence to date, a re-assessment to ensure that we believe HMRC have asked all the valid questions and back here again on Monday. I cannnot see anyway that they can answer all that now and so they have to accept coming back and then they are in 50:50 land. Someone send Android Leon's email address, he's gonna need some real professional Churchillian Speeches after this little day out Link to comment Share on other sites More sharing options...
Liquidshokk Posted 2 March, 2010 Share Posted 2 March, 2010 Wont this 15mil they have get them off the hook then? Link to comment Share on other sites More sharing options...
PaulSaint Posted 2 March, 2010 Share Posted 2 March, 2010 Andros the Android, Admiral Lord Nelson, Jackastory, Charlie Dickens, Alan Biley, Twitchy Redknapp - You guys sure took a hell of a beating! Link to comment Share on other sites More sharing options...
hutch Posted 2 March, 2010 Share Posted 2 March, 2010 It isn't going to fly. I don't know how yet, but Baloo is NOT going to put another £15m in to get his £13.8m out. Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 March, 2010 Share Posted 2 March, 2010 Wont this 15mil they have get them off the hook then? Well it will probably come in handy to bribe the prison guards with (allegedly) Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 Well it will probably come in handy to bribe the prison guards with (allegedly) He might be allowed to shower on his own Link to comment Share on other sites More sharing options...
OldNick Posted 2 March, 2010 Share Posted 2 March, 2010 I can sense it, Pompey are going to get away with it. Link to comment Share on other sites More sharing options...
Joensuu Posted 2 March, 2010 Share Posted 2 March, 2010 I suspect because A. The club would never be able to support itself through admin. And B. Because Baloo is only interested in seeing his money. I understand A, but B doesn't add up. It would raise Portpin's debt from £13.5m to £28.5M... and reduce the likelyhood of seeing any of it again... Good money after bad? Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 Matthew: Mr Barker said if the appointment by Portpin of the administrators is invalid there will be a contingent application for a court appointed administration. Link to comment Share on other sites More sharing options...
Saints foreva Posted 2 March, 2010 Share Posted 2 March, 2010 I can sense it, Pompey are going to get away with it. Get away with what exactly? Link to comment Share on other sites More sharing options...
Kingsland Red Posted 2 March, 2010 Share Posted 2 March, 2010 Since this thread started and we have followed the fortunes of the various parties I was begimnning to believe we lived in a banana republic. Thank goodness HMRC have demanded some accountability. Sure it's been posted before but Portsmouth News are live in court: http://www.portsmouth.co.uk/custompages/custompage.aspx?pageid=81796 Link to comment Share on other sites More sharing options...
dune Posted 2 March, 2010 Share Posted 2 March, 2010 This is sounding serious. Go HMRC. Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 March, 2010 Share Posted 2 March, 2010 Anyone else lost the feed from the News? I had a web blink out but that hasnn't come back up Link to comment Share on other sites More sharing options...
Gemmel Posted 2 March, 2010 Share Posted 2 March, 2010 At least the administrator had his finger on the pulse yesterday, when he said that it was probably just a case of HRMC wanting to dot the "I's" and cross the "T's" Well he got one bit right..... with the "Cross"..... unfortuneatley he wants to put a big cross right across the whole company name. Link to comment Share on other sites More sharing options...
SO16_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Matthew: Mr Barker said if the appointment by Portpin of the administrators is invalid there will be a contingent application for a court appointed administration. is it not only someone with X% (25%) of the debt that can put them into Admin, or am i off the mark? Link to comment Share on other sites More sharing options...
dune Posted 2 March, 2010 Share Posted 2 March, 2010 Anyone else lost the feed from the News? I had a web blink out but that hasnn't come back up still working fine for me. Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 March, 2010 Share Posted 2 March, 2010 Matthew: Mr Barker said winding up would be a disaster and administration should cost less than £14m. 'These are early days but what I have in fact been told by the administrators is they think £15m is substantially in excess of what will be needed. I have been told a figure, it would not be right to put it before the court, it needs a little work but I have been told a figure that is substantially less than £15m.' You don't know what you're doing..... Link to comment Share on other sites More sharing options...
Crab Lungs Posted 2 March, 2010 Share Posted 2 March, 2010 For fans of the original comic-strip Link to comment Share on other sites More sharing options...
Bucks Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Matthew: Mr Barker said if the appointment by Portpin of the administrators is invalid there will be a contingent application for a court appointed administration. Ha! If its invalid, its because the debt is not properly due. They would have to invent another creditor to take the place of Portpin. You cant make this up...... Link to comment Share on other sites More sharing options...
exit2 Posted 2 March, 2010 Share Posted 2 March, 2010 Why would Portpin fund administration at an additional cost of £15m!!!! Link to comment Share on other sites More sharing options...
bristolsaint29 Posted 2 March, 2010 Share Posted 2 March, 2010 Comment From blue army blue army : ] We've only got 10 yrs history from the last admin Get in there, got a comment on the board Link to comment Share on other sites More sharing options...
Appy Posted 2 March, 2010 Share Posted 2 March, 2010 I can sense it, Pompey are going to get away with it. + 1 they always seem to. Link to comment Share on other sites More sharing options...
Amesbury Saint Posted 2 March, 2010 Share Posted 2 March, 2010 what more can we expect today? Link to comment Share on other sites More sharing options...
Weston Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Judges summing up will be the interesting part of today Link to comment Share on other sites More sharing options...
Smirking_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 I understand A, but B doesn't add up. It would raise Portpin's debt from £13.5m to £28.5M... and reduce the likelyhood of seeing any of it again... Good money after bad? I have no idea, i am in no way any sort of financial expert or anything like that. Perhaps it has to do with the ground ?? Without a football club he will not get his 1m a year and anyone who wishes to buy the club will have to negotiate with him for that ground. TBH the whole thing stinks, i see your point, why would he put extra money in ?? He has said he doesn't want the club. There is more to come out of the woodwork yet i believe, lets just hope there is a full and unbiased review. Link to comment Share on other sites More sharing options...
SO16_Saint Posted 2 March, 2010 Share Posted 2 March, 2010 Comment From blue army blue army : ] We've only got 10 yrs history from the last admin Get in there, got a comment on the board go hose yourself down. BE GONE Link to comment Share on other sites More sharing options...
hutch Posted 2 March, 2010 Share Posted 2 March, 2010 "Matthew: Mr Barker said if the appointment by Portpin of the administrators is invalid there will be a contingent application for a court appointed administration." If that's really the best that they have to offer in reply, then it looks pretty bad for them. 50/50 that they actually succeed with the contingent application, and 50/50 that the independent administrator will wind them up immediately. A 1 in 4 chance of just surviving, never mind the future points deductions. Does anyone have a source for the comments about Fugler's bank accounts and payments to Baloo? Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 2 March, 2010 Share Posted 2 March, 2010 They're clutching at straws now.... Link to comment Share on other sites More sharing options...
dubai_phil Posted 2 March, 2010 Share Posted 2 March, 2010 You know, I suddenly feel some sympathy. We haven't taken a moment to stop and spare a thought for people who's lives will be ruined by the events so far today. Let us just wish all those reading the days' events when they get in from work tonight great strength and fortitude and may we hope that they have not sprayed too much tea/coffee/beer over their keyboards/screens. I also think that we should get some T-Shirts made. I was there when the skates went to court. Link to comment Share on other sites More sharing options...
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