We've been adjourned again. I hate being adjourned. Did like the comment though that the judge was "disparaging" about Portpin's request for a new administrator. Trevor Birch was appointed by the courts, not Pompey.
That should count against BC then as the judge will not like their request one bit, I hope he has read what has really happened at FP and what the asset stripping has been all about..........
But PKF overlooked the "floating charge" according to Portpin. I don't normally wish ill on anyone, but I do wish Chanrai and his cronies would go visit Joseph "Captain Nemo" Cala at one of his underwater hotels - and it would sink with them all on board!
It may just be a bit of housekeeping as the floating charge should have already crystalised over the company's undertaking.See the other thread-If an Administrator has totally overlooked it, it would be a shocking error, and I quite simply don't think they could do that as the floating charge and debenture would have been registered with companies house in any event and be clearly visible to even a layperson. PUP
A leading member of the PST has said that the wealthy pompey supporters are bankrolling the club. So where has your parachute payement gone?. This is basically saying you have no money set aside at all, seriously this **** gets worse and worse.
Parachute payments were for the footie creditors and admin fees. Looks like they've been used up. Could have been ended ages ago if you accepted £2.75 mil for Fratton. You ain't gonna get more from liquidation and no one is willing to pay your ******ed rent costs. This is your Portpin fault and always will be.
Well, looking at the bright side, there is a sum of money that was overlooked but nothing to say that Chanrai will get it or that the money means he can claim ownership. It is better for every possible claim to have been made and accounted for prior to any new ownership. They will come out sooner or later, so sooner is better so when whoever gets the club has a full accounting and knows what needs to be done. Obviously the FA "fit and proper" test does nothing so this is does in an odd way apply a more practical fit and proper test to any prospective owners PRIOR to taking over the club. If this causes Robinson to pull out or reveals him to be a sham, then he wasn't the long-term solution anyway. What you want is a stable club and owner you can be proud of and that goes for PST as well. They may mean well but do they have the money, structure, and means to make it happen? A stern test for any prospective buyer works out in your favor though I appreciate it must be extremely frustrating as you go through the process.
''This is your Portpin fault and always will be'' Yeah exactly. They over-spent that crazy sum of money in the first place that put Pompey in trouble those few years ago in the Premier League. Its outrageous to think that someone owed money has the cheek to ask for it back. Chainrai should just hush down and join all the other suckers who have been fleeced by the club. Including HMRC, or the public, as i like to think of it I really have sympathy for the supporters in this terrible situation and i do wish it was sorted for the better, but i also get irritated that Chanrai gets the blame for everything. Memory is short and of the £200 - 300 million that will never be paid back, his £17mil claim seems rather small.
Yes but it's not as simple as him being owed money. Read Micah Hall's two articles (part 1 and 2) regarding the whole mess he was in and you'll realise he's not just some poor person who unwittingly got caught up in the mess at Portsmouth, he helped to create said mess and was involved in dodgy dealings long before he officially took over the club. Furthermore, the money he supposedly lent Falcondrone (which was in fact working together with Portpin) never actually went into Portsmouth's account. Furthermore, he siphoned off (or attempted to, I can't remember the details) the club's Premier League money. Sorry but I don't have an ounce of sympathy for Chainrai and no-one else should either. He's a ruthless, manipulative cock who doesn't give a damn how he gets his money he feels is owed or what he does to get it.
I have tried to read Micah Halls articles a few times, but parts of them just make me stop taking him seriously. There may well be truth to section but surely there would be more qualified, more directly involved official people who can discover this seeing as its seemingly freely available information? If they had just thought to look at a few bank statements and Chanrai could be seen off? Not saying he's a great man, he's just a businessman doing what businessmen do, but can you blame him getting security for money lent after all the amount that was never paid back by Pompey? Its a crap situation to be in, but in all honesty its Portsmouth FC's fault for being in it no matter who you choose to blame.
What parts of the articles do you find hard to believe? The administrator for the original CVA - Baker Tilly - is investigating the circumstances which led to the first administration, and has been since 2010. We do know the alleged £17m did not go through PFC bank account/books as Tanya Robins, the Director of Finance, confirmed this publicly after she resigned from PFC and the Board. We also know that the Judge at the first CVA hearing queried the Chanrai debenture - that was said in public. Chanrai didn't create the original debts, those are down to Sasha Gaydamak and Peter Storrie, but he has used the club to recoup funds owed by Arkadi Gaydamak. Micah Hall just pulled together all the information - although "just" is an understatement as it took him 3 years to do it. Lastly - when you say it is "Portsmouth FCs" fault, it might help to isolate the owners/board of directors/administrators from the supporters, because I can assure you that none of us have ever been consulted on the running of the club or the business.
What I don't get is :- If even half of what Micah has put together is true how on earth is the scumbag still in the position of being allowed to muck your club about?
I suppose, in a word, it's called Capitalism. In 2 words, "light touch" regulation. Look at everything going on around us.............. Bankers being able to mess around with toxic debts and being bailed out by the taxpayers and yet the government felt powerless to stop them awarding themselves huge bonuses. That's just for starters. It does appear that the only "illegal" transaction at PFC was taking the £4m for Kaboul and Begovic a few days before putting the club into admin the first time, contrary to section whatever of the Insolvency Act. The "naughty" thing they've done is smack a debenture over the ground to ensure they get their secured "loan" back while at the same time offering £500k to the small businesses and the taxman. Even the promise to pay the small creditors under £2,500 was passed on to CSI in the sale. Everything they've done is immoral, but, it appears, not illegal. Hence they can stay around to strip bare the business of PFC - but this time Chanrai was thwarted by HMRC and others who objected to the appointment of Andronokou (sp) and the Courts agreed. Chanrai is still in a position to purchase the club - but it is unlikely, not impossible, that he will be welcomed back into the football league as an owner once again.
Chanrai is still in a position to purchase the club - but it is unlikely, not impossible, that he will be welcomed back into the football league as an owner once again. FL said that the chances of him passing the FAPPT is slim to none.
So it has been suggested - although I don't believe they actually came out and said it as baldly as that - but if it suits their purpose they'll find a way round it.
I honestly don't see how they can ever find a way for BC to take over again. He has been involved in so much of your troubles that he must shoulder a large portion of the blame, surely!
We need a general strike in this country, to show these mega rich we have had enough. We have some of the worst workers rights in Western Europe, I heard on the radio the other day that since the demise of the unions, the balance of profit to workers wages, has increased for the former and decreased for the latter by about 6 % equally. That means your boss and shareholders are all even richer than they were 30 years ago, to your great expense.
