Gorgiesaint Posted 21 April, 2010 Share Posted 21 April, 2010 Over and above all the other percieved underhand dealings, accusations and thoughts of impropriety, (Which may or may not proved), An appointed adminstrator has published and signed and document which has a 50 million pound delta between that and a court assigned accountancy firms "Statement of Affairs", for which the Directors were legally obliged to co-operate in full with and disclose the relevant information. I am am no expert, but unless I have missed something, either AA or story/other pfc directors is lying or has lied. Does that make them criminally neleglient, i don't know, but i have a feeling that a file is getting bigger and bigger and closer and closer to the man at the CPS. +1 Think that sums it up for me Link to comment Share on other sites More sharing options...
Torres Posted 21 April, 2010 Share Posted 21 April, 2010 They owen the Ministry of Defence £626! What the hell is that for? Link to comment Share on other sites More sharing options...
bridge too far Posted 21 April, 2010 Share Posted 21 April, 2010 They owen the Ministry of Defence £626! What the hell is that for? And the Boy Scouts about the same amount I think! I struggle to think what services Boy Scouts can offer a football club. Link to comment Share on other sites More sharing options...
Gemmel Posted 21 April, 2010 Share Posted 21 April, 2010 I struggle to think what services Boy Scouts can offer a football club. How long ago did Rix leave Link to comment Share on other sites More sharing options...
krissyboy31 Posted 21 April, 2010 Share Posted 21 April, 2010 They owen the Ministry of Defence £626! What the hell is that for? Youth team used to train use at one of the naval establishments and got evicted for not paying the rent. Link to comment Share on other sites More sharing options...
OldNick Posted 21 April, 2010 Share Posted 21 April, 2010 They owen the Ministry of Defence £626! What the hell is that for?could that be for a half time display or the like Link to comment Share on other sites More sharing options...
krissyboy31 Posted 21 April, 2010 Share Posted 21 April, 2010 And the Boy Scouts about the same amount I think! I struggle to think what services Boy Scouts can offer a football club. Do they get first dib, dib, dibs on debt payment?..................Sorry! :oops: Link to comment Share on other sites More sharing options...
teamsaint Posted 21 April, 2010 Share Posted 21 April, 2010 maybe I missed it, but presumably poopey are still due some installments on players they have sold? or were all recent deals done for cash? Link to comment Share on other sites More sharing options...
OldNick Posted 21 April, 2010 Share Posted 21 April, 2010 maybe I missed it, but presumably poopey are still due some installments on players they have sold? or were all recent deals done for cash? they took reduced payments early. All that is gone, except some from Oneill at Boro Link to comment Share on other sites More sharing options...
Psycrow Posted 21 April, 2010 Share Posted 21 April, 2010 Do they get first dib, dib, dibs on debt payment?..................Sorry! :oops: Marvelmouse! Link to comment Share on other sites More sharing options...
trousers Posted 21 April, 2010 Share Posted 21 April, 2010 A leopard never changes its spots... ....and this article describes the game being played... The most damaging criticism of Andronikou is within a High Court ruling in December 2008. An appeal judge overturned an attempt by Shami Ahmed, the founder of Joe Bloggs, the clothing company, to avoid bankruptcy through an individual voluntary arrangement (IVA) handled by Andronikou. HMRC and a spread-betting firm then known as Tradindex had opposed the IVA, which needed approval from three-quarters of Ahmed’s creditors. The fashion boss had run up more than £4m in gambling debts. But the IVA was successful because Andronikou had accepted the validity of £8m in alleged loans to Ahmed from members of his family, thereby making them creditors and giving them a vote on the IVA. At an appeal by Tradindex, the judge took a different view and disallowed £5m of these family loans, thereby overturning Ahmed’s IVA, and he was forced into bankruptcy. The judgment said: “Mr Andronikou’s conduct in these proceedings, particularly in relation to evidence filed by him on behalf [of Ahmed and his family], was manifestly inappropriate.” The judge also found that Andronikou “did fail to meet the standard to be expected of a reasonably competent insolvency practitioner”. Bingo. Suggest this is sent to 'anyone who may be interested' as a gentle reminder....? Link to comment Share on other sites More sharing options...
trousers Posted 21 April, 2010 Share Posted 21 April, 2010 How long ago did Rix leave I know it's wrong to laugh but I've just spat my tea out..... Link to comment Share on other sites More sharing options...
trousers Posted 21 April, 2010 Share Posted 21 April, 2010 A leopard never changes its spots... ....and this article describes the game being played... Got the following when clicking on that Times Online link.... 404 Error The page could not be loaded. If you have typed the URL in by hand then please make sure you have entered it correctly. Alternatively, if you have come from a link within the site and found this page, please click on the link below to register a technical problem that we will correct as soon as possible! Or select the back to the Times Online link to return to the Times Online homepage. Register technical problem Back to the Times Online Conspiracy theory alert.... Link to comment Share on other sites More sharing options...
krissyboy31 Posted 21 April, 2010 Share Posted 21 April, 2010 Got the following when clicking on that Times Online link.... Conspiracy theory alert.... Works ok for me! Link to comment Share on other sites More sharing options...
trousers Posted 21 April, 2010 Share Posted 21 April, 2010 Works ok for me! Ah, me too now.....at ease fellow conspiracy theorists Link to comment Share on other sites More sharing options...
bridge too far Posted 21 April, 2010 Share Posted 21 April, 2010 Works ok for me! And me! Further conspiracy alert - the powers that be are trying to stop Trousers from seeing it. Link to comment Share on other sites More sharing options...
swannymere Posted 21 April, 2010 Share Posted 21 April, 2010 Sorry, link worked for me Link to comment Share on other sites More sharing options...
Saint 76er Posted 21 April, 2010 Share Posted 21 April, 2010 Well according to Mr Andro-thingy's little opus it's a CVA or bust for Poopey (well sort of). It quite specifically says that no CVA means they move straight to a creditors voluntary liquidation or a compulsory winding up. Andro and his mate are slated to carry out these procedures if it comes to that. However, further on it, interestingly, says that CVA or not the Administrators can, without recourse to creditors, sell to anyone of their choosing or dispose of any bits in any manner they wish. Presumably, the rationale being if they are able to procure more funds that way than otherwise exist in the pot. However, this does seem a tidy little hole for them to crawl through when perhaps explaining that, oh gosh, at the eleventh hour we've been lucky enough to sell the club, or grandstand, or whatever other assets to Mr C, or even Mr G (snr or jnr) and wasn't that nice of them to come back in and help us out. It may well be that Mr A has a fallback plan if a CVA can't be achieved, or then again maybe even if it can. His document did rather seem to give him open ended authority whilst bypassing creditors, if he so chose. Perhaps some of our insolvency experts could have a look at this aspect and offer their opinion on the legitimacy or normality of this situation? Link to comment Share on other sites More sharing options...
Colinjb Posted 21 April, 2010 Share Posted 21 April, 2010 So much for Corperate Ho-bag's assertion that only we care about their level of debt... Thankyou Talksport for having the bottle to tell it like it is. Link to comment Share on other sites More sharing options...
bridge too far Posted 21 April, 2010 Share Posted 21 April, 2010 Well according to Mr Andro-thingy's little opus it's a CVA or bust for Poopey (well sort of). It quite specifically says that no CVA means they move straight to a creditors voluntary liquidation or a compulsory winding up. Andro and his mate are slated to carry out these procedures if it comes to that. However, further on it, interestingly, says that CVA or not the Administrators can, without recourse to creditors, sell to anyone of their choosing or dispose of any bits in any manner they wish. Presumably, the rationale being if they are able to procure more funds that way than otherwise exist in the pot. However, this does seem a tidy little hole for them to crawl through when perhaps explaining that, oh gosh, at the eleventh hour we've been lucky enough to sell the club, or grandstand, or whatever other assets to Mr C, or even Mr G (snr or jnr) and wasn't that nice of them to come back in and help us out. It may well be that Mr A has a fallback plan if a CVA can't be achieved, or then again maybe even if it can. His document did rather seem to give him open ended authority whilst bypassing creditors, if he so chose. Perhaps some of our insolvency experts could have a look at this aspect and offer their opinion on the legitimacy or normality of this situation? I think there are two things here: 1. AA reckons he knows what he can offer in the £ for creditors in order to get the CVA. The only way he can do this is if he is in receipt of some sort of offer. Since he says there are no buyers out there, then this can only mean Chanrai will buy the club for a price that produces the x pence in the £. It's a back-to-front way of doing things IMO. 2. It is his duty, in law, to get the best deal for the creditors. So, surely, if he has gone down the liquidation route, and then someone buys the assets, the money they pay will still have to go to the creditors. I'm not at all sure about what happens in the second scenario - I'm sure some of you out there do know. Link to comment Share on other sites More sharing options...
FloridaMarlin Posted 21 April, 2010 Share Posted 21 April, 2010 The table of creditors’ debts is a shameful and shabby record of a morally bankrupt business with no morals or scruples that has serially stuck two fingers up to everyone it deals with. It has shat upon everyone, from the highest to the lowest, with absolutely no regard for the welfare of the businesses they deal with, their only concern being whether they have enough money to pay for players they patently could not afford. From the amounts of monies owed to similar companies, it is obvious they have run up as much tick as they can before a company has refused them any credit, and then simply gone off to set up an account at another company. Examples; Heritage Leisure Design (who would provide all the badging and club crests on various shirts, products etc) are owed £93,000, so are Hargreaves Promotions, who do a similar thing. There are several catering companies owed money, including county Caterers at £128,000. With a Cosham address, County Caterers are presumably a local business, built up over the years by a family or individual, who thought he was on to a good thing when he won a contract at Fratton Park. I don’t know the size of the business, but I would be surprised if it could take a £128,000 bath, so it’s likely that business will go bust. All for the cost of Utaka’s wages for two weeks. Other examples of them fouling their own nest include Johnson’s Newspapers to the tune of £20,000 (for unpaid advertising, etc) and still The News fawn all over them. Cowplain Community School, at £14,000, head a lengthy list of schools and colleges who presumably rented their premises for p***ey’s academy/schools of excellence, only to have their good faith thrown back in their faces. They owe Portsmouth City council £28,000 in poll tax (and moan that the council won’t come in and buy Krap Nottarf back off Chainrai and make it a community stadium). The Performing Rights Society are owed £19k, but presumably they still play music on match days. They even crap on their own employees. Photographer Dave Jordan (a freelance who has a contract with the club to supply pics for programmes, etc) is owed £4,000, club doctor Nigel Sellars is owed £15,000, former PR guru Gary Double is £13k in the hole. The landladies who put up their academy trainees are owed a total of £12,000. They even owe £30 to press room steward Mick Hogan (who probably re-stocked the tea/coffee/milk supply and slapped in the receipt in the vain hope he would be re-imbursed). I know Mick as a genuinely and thoroughly nice bloke, who will probably shrug his shoulders at the loss of £30, but it’s an indication of the utter contempt they hold people in that they wouldn’t repay him. Further afield, and perhaps dangerously for them, there are several hefty debts outstanding in Southampton, not least of all the £41,000 they owe King Edwards school for use of Wellington sports ground, and Southampton firm TWC Joinery who are owed £54,000. Then there are the intriguing little debts which have you a-wondering and guessing. Who has racked up a £7.5k debt at the Concorde Club, and why? And who took the £46 cab ride with Radio Cabs of Southampton, and from where to where? This is a document of complete and utter shame and sham, a cheats charter and now it is in the public domain, hopefully their appearance at Wembley will now no longer be the tale of a brave club’s fight against the odds, but how they completely and shamelessly reneged on every fiscal obligation they had to pay for a day out. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 21 April, 2010 Share Posted 21 April, 2010 The Concorde club is very close to where they train and I once saw David James in their carpark doing a u-turn. Don't forget that these suppliers will have had to account for the VAT element of these 'sales' and will not be able to claim that back until the debt is formally written off. Link to comment Share on other sites More sharing options...
carljack Posted 21 April, 2010 Share Posted 21 April, 2010 Peter Storrie 280k a year and could not even manage to pay a newspaper bill that totalled a magnificent 1k,the poor shopkeeper cannot take his family on holiday this year! Peter will you tell the truth you are avin a laugh moosh!. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 21 April, 2010 Share Posted 21 April, 2010 (edited) I may be wrong here but that document says Pompey owe £2m to a company called Peco AG Nothing wrong with that you might think... until you have a look at that company and it "seems" Peco AG was liquidated 11 years ago!!! How can you have a debt with a nonexistent company? http://www.moneyhouse.ch/u/peco_ag_CH-400.3.005.256-4.htm Trying to fiddle the figures Mr Andronikou? Like when you did this... http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article7069905.ece Edited 21 April, 2010 by Matthew Le God Link to comment Share on other sites More sharing options...
stevegrant Posted 21 April, 2010 Share Posted 21 April, 2010 Peco AG and Pego AG are presumably different companies... Link to comment Share on other sites More sharing options...
Shrek Posted 21 April, 2010 Share Posted 21 April, 2010 The table of creditors’ debts is a shameful and shabby record of a morally bankrupt business with no morals or scruples that has serially stuck two fingers up to everyone it deals with. It has shat upon everyone, from the highest to the lowest, with absolutely no regard for the welfare of the businesses they deal with, their only concern being whether they have enough money to pay for players they patently could not afford... ...This is a document of complete and utter shame and sham, a cheats charter and now it is in the public domain, hopefully their appearance at Wembley will now no longer be the tale of a brave club’s fight against the odds, but how they completely and shamelessly reneged on every fiscal obligation they had to pay for a day out. +1, a fantastic post, well written. Link to comment Share on other sites More sharing options...
krissyboy31 Posted 21 April, 2010 Share Posted 21 April, 2010 Who has racked up a £7.5k debt at the Concorde Club, and why? And who took the £46 cab ride with Radio Cabs of Southampton, and from where to where? I think I heard that the players and staff leave their cars there when flying to games and Radio Cabs ferry them from the Concorde to the Airport and back. Whether that's got anything to do with it? :smt102 Link to comment Share on other sites More sharing options...
Matthew Le God Posted 21 April, 2010 Share Posted 21 April, 2010 Peco AG and Pego AG are presumably different companies... That was just a typo by me. They should both read Peco AG. Link to comment Share on other sites More sharing options...
trousers Posted 21 April, 2010 Share Posted 21 April, 2010 So much for Corperate Ho-bag's assertion that only we care about their level of debt... Thankyou Talksport for having the bottle to tell it like it is. Indeed. They are reading through the list of creditors with disgust and apoplexy. Also Pompey fans ringing up saying they "had no idea" that so many local businesses were affected. They laughed over the fact thst Saints were owed £35k Link to comment Share on other sites More sharing options...
Weston Saint Posted 21 April, 2010 Share Posted 21 April, 2010 Good post FloridaMarlin. Just as I would expect from someone with your background. Link to comment Share on other sites More sharing options...
FloridaMarlin Posted 21 April, 2010 Share Posted 21 April, 2010 I think I heard that the players and staff leave their cars there when flying to games and Radio Cabs ferry them from the Concorde to the Airport and back. Whether that's got anything to do with it? :smt102 You could well be right. If that was the case and it was a regular thing, you might think they had an account with Radio Cabs. Of course, £46 might be the unpaid portion of that account, and while it's some time since I used a Southampton cab, that amount hints to me a single, late-night journey. Perhaps from somewhere like, say, Horton Heath, to the portsmouth area. Link to comment Share on other sites More sharing options...
saint_mears Posted 21 April, 2010 Share Posted 21 April, 2010 Florida you forgot the £150 owed to ex-footballer come postman Neil Webb Link to comment Share on other sites More sharing options...
Bobbyboy Posted 21 April, 2010 Share Posted 21 April, 2010 So let me get this straight, AA is proposing a CVA (% to be determined) on May 6, decision due within one month, and AA and co will relinquish responsibility at that point. To whom? Did they get a buyer or did I miss that? Link to comment Share on other sites More sharing options...
bridge too far Posted 21 April, 2010 Share Posted 21 April, 2010 Good coverage on South Today focussing particularly on charities and schools losing money owed to them by the CHEATS Link to comment Share on other sites More sharing options...
OldNick Posted 21 April, 2010 Share Posted 21 April, 2010 Good coverage on South Today focussing particularly on charities and schools losing money owed to them by the CHEATS still focussed on the players being owed not the suppliers. Link to comment Share on other sites More sharing options...
scally Posted 21 April, 2010 Share Posted 21 April, 2010 They have just said on Talk Sport that if they are still in admin at the begining of next season they will not get a points deduction untill the following season and thats only if they are still in admin at that time. Nickh is right the bastards are getting away with it. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 21 April, 2010 Share Posted 21 April, 2010 They have just said on Talk Sport that if they are still in admin at the begining of next season they will not get a points deduction untill the following season and thats only if they are still in admin at that time. Nickh is right the bastards are getting away with it. That doesn't mean no points deduction in 2010/11. If they don't get a CVA then they will have a points deduction or even no "golden share". Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 21 April, 2010 Share Posted 21 April, 2010 Stan Collymore on Talksport has continued to rip into them - £3m on image rights - for players who couldn't sell a teacup!!! Says someone should be looking into that (HMRC) Mark Saggers - should they still be allowed to play in the cup final? Mark Saggers & Danny Kelly agreed on the handover as they were both company directors, if it had been their companies, then they would be in jail by now. Link to comment Share on other sites More sharing options...
stevegrant Posted 21 April, 2010 Share Posted 21 April, 2010 They have just said on Talk Sport that if they are still in admin at the begining of next season they will not get a points deduction untill the following season and thats only if they are still in admin at that time. Nickh is right the bastards are getting away with it. According to Football League rules, a club cannot start two consecutive seasons in administration. For example, if Stockport don't get taken over by the start of next season, they'll be kicked out of the Football League. Link to comment Share on other sites More sharing options...
trousers Posted 21 April, 2010 Share Posted 21 April, 2010 Talksport are taking calls on it this hour. Someone phone up and tell them we've known all this stuff for months but no one would listen Link to comment Share on other sites More sharing options...
scally Posted 21 April, 2010 Share Posted 21 April, 2010 That doesn't mean no points deduction in 2010/11. If they don't get a CVA then they will have a points deduction or even no "golden share". What they said was that if they are still in admin then they get no deduction 2010/11. If they are still in admin then according to Talk Sport the CVA issue doesn't come into it. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 21 April, 2010 Share Posted 21 April, 2010 (edited) What they said was that if they are still in admin then they get no deduction 2010/11. If they are still in admin then according to Talk Sport the CVA issue doesn't come into it. Unless all football debt is paid in full then it is a points deduction. I wouldn't trust Talk Sport for anything. Edited 21 April, 2010 by Matthew Le God Link to comment Share on other sites More sharing options...
scally Posted 21 April, 2010 Share Posted 21 April, 2010 According to Football League rules, a club cannot start two consecutive seasons in administration. For example, if Stockport don't get taken over by the start of next season, they'll be kicked out of the Football League. So if they are still in admin come the start of the season and then get taken over during the season with out a CVA being agreed then the points deduction will be 2011/12 season? Link to comment Share on other sites More sharing options...
scally Posted 21 April, 2010 Share Posted 21 April, 2010 I don't think that is right. I wouldn't trust Talk Sport for anything. I hope you're right or they could start next season with no points deduction, unless The Football League impose the deduction during the season if they come out of admin with no CVA. Link to comment Share on other sites More sharing options...
Crab Lungs Posted 21 April, 2010 Share Posted 21 April, 2010 Unreal... just been over to PO... some of them still think their club has done little wrong, lmao. Link to comment Share on other sites More sharing options...
Ponty Posted 21 April, 2010 Share Posted 21 April, 2010 AA can't afford to not come out of admin by the season's end. Link to comment Share on other sites More sharing options...
Crab Lungs Posted 21 April, 2010 Share Posted 21 April, 2010 According to Football League rules, a club cannot start two consecutive seasons in administration. For example, if Stockport don't get taken over by the start of next season, they'll be kicked out of the Football League. they'll probably bend over backwards for 'poor pompey' and their 'fantastic' supporters.. Link to comment Share on other sites More sharing options...
PaulSaint Posted 21 April, 2010 Share Posted 21 April, 2010 I reckon everyone here should send a "throw the book at them" type email to the FA. No need to mention where you live! Link to comment Share on other sites More sharing options...
Bobbyboy Posted 21 April, 2010 Share Posted 21 April, 2010 I reckon everyone here should send a "throw the book at them" type email to the FA. No need to mention where you live! Surely the FA could charge then with 'bringing the game into disrepute'. This whole farce has dragged football into the disrepute mire far more than the usual thing of Neil Warnock disagreeing with an offside decision. Link to comment Share on other sites More sharing options...
positivepete Posted 21 April, 2010 Share Posted 21 April, 2010 It says in the document that they want to protect their Academy status, yet, they owe significant money to KES, Cowplain School, HMS Collingwood, all academy venues that probably will not count as football debts. The more you look at the list of creditors it seems amazing that more people have not taken them to court, there are a number of significant debts for local businesses. Difficult to defend that they have not been trading insolvently. Link to comment Share on other sites More sharing options...
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