Tomorrow is the creditors meeting where the creditors have to vote for either CVA or neither. Neither will effectively mean that the end is near and liquidation is highly likely. If creditors vote in favour of a CVA (nothing which have a poor return) then its a possibility that the club will stay alive for ye time being. How do people see the day going tomorrow? I can see one of them being accepted...
You mean the 25th? My prediction? The ctreditors will fail to learn from history and will be doomed to repeat it.
I would imagine, Rickie, that most Pompey fans are hoping for a "happy outcome" leading to the continuance of PFC in the Football League, don't you ?
It's my understanding that the PST bid may also be considered tomorrow if TB accepts the bid. Problem is that we don't know what the bid is. If I were a creditor (which I'm not) I would vote against the Portpin bid. Chanrai should share some of the pain - after all, the value of an investment can go down as well as go up. With his bid he is the only one who will come out with his "loan" intact. There is no justice in that. Why are you so fascinated by our travails Rickie? Are you studying finance or something?
I have in the past. But I am a keen football fan in general. Cousins and relatives are Pompey fans so I do know more than other non Pompey fans about what's going on.
Creditors that were owed £2000 may now only get £20. Meaning some creditors may just think 'Sod it', and reject both. From what I know 75% need to agree on whatever offer, otherwise it's a huge step into the unknown...
I believe that Baker Tilly (in charge of the 2010 CVA) and Chanrai are the 2 biggest creditors here with CSI coming in at 3rd biggest. What I'm not sure of is Chanrai's voting power as a secured creditor. Meeting starts in a few minutes - might be an interesting day.
Apparently Chainrai could single handedly reject PST's bid straight away meaning that's now not a possibility... HMRC have a large voting right and try will reject whatever offer is made!
The meeting began with the News covering it. Birch started by saying the Football League want an amendment that is the CVA goes through it will still be their decision whether to grant a golden share. Birch then went on to say the Supporters Trust bid was a serious one that needed consideration and that the meeting would be suspended for an hour while he talked to the liquidators of the old company about some amendment. It also appears that Portpin have not welcomed other bids and have argued against it. The meeting just got underway again.
I thought They were the "reluctant, last resort owner's". Stop trying to taking us for mugs BC and co.
Tweet from Neil Allen: Questions taken from the floor. Redgate leads asking for clarification of figures for old co. ‪#PompeyCVA‬ ‪#Pompey‬ Details not Balram Chainrai not Balram Chainrai ‏@notBaluChainrai If he don't know that no wonder club got issues... ‪#PompeyCVA‬ ‪#Pompey‬ @pn_neil_allen Priceless!
