1/ chainrai does not own FP 2/ he placed a charge gainst it to a previous owner (if he actually existed) as security against monies leant to said owner..... 3/ the administrator was appointed by a court of law on behalf of creditors owed monies by PFC 2010 ltd, as part of his job he has to put forward the bet offer available that is credible to secure the most amount of monies to the creditors 4/ part of his job would there for be to lift the charge amount enabling a new owner to take control and pay off said creditors thus returning the a better return than liquidation 5/ an administrator who believes a creditior is blocking a sale or transfer of ownership/ debit by refusing an amount offered, can have the court decide whetherthe offer is fair.........in this case the charge amount is being challenged (as it always has been). if a judge and his panel believe the valuations offered by independant valuers to be fair and of market value then chainrais charge becomes reduced and the sale can move forward. 6/ gaydamak does not own the land surounding FP, as stated his company was placed in admin earlier this year and sale has been agreed with one of the pst members........... all in all its a bloody mess.......... BP
Cheers for that clarification. A bloody mess indeed, but one that looks tidier to me than it did this morning.
Adjourned, now theres a surprise. Maybe they could set a new dead-line......not had many of them over the past ten months.
Nabil Hassan: 'Just to clarify, PKF have requested adjournment, up to the Judge to grant it tomorrow at 10.30am. Portpin ready to proceed. #Pompey'
Apparently according to Guilforye who is a admin expert, PKF want to adjourn as they have a major flaw in their case.
Christ...this story has had more turns than a door-knob. Just read something about Chainrai wanting to sack of PKF, and appoint a new administrator (can he do that???) who he believes will be able to sell Pompey at the end of the season. All I know is......I wouldn't want to play cards with the bastard!
I imagine if PKF do get the heave-ho they are going to want their rather extortionate fees paying before they go anywhere, then another admin is going to come in and start milking the club. Is this just a case of everyone having their turn at sucking the blood out? This makes our flirtation with liquidation look like a fairy tale.
Sadly I don't think there is any blood left, sticking to metaphors it's just a skeleton of a club now. P.s. thanks to those above that helped explain the situation.
PST Spokesperson ‏@pompeytrust UPDATE: Court case goes ahead tomorrow with possible adjournment to be decided judge. Situation fluid, hoping for more information tomorrow. I need a drink. Preferably alcoholic.
If you read it, it was never off. PKF have to go to court to ask the judge to adjourn , we will see what happens tomorrow. PKF must be seriously worried to try and get it adjourned.
