Sorry to continue the trend of "Doom & Gloom" threads. Can some-one update me on the rules of admin. We have been in Administration since February 2012 Therefore we started this season in admin. If we are still in admin at the start of next season, will that trigger yet another points deduction on top of the 10 points we'll be deducted at the end of admin anyway? Are we actually allowed to start two consecutive seasons in admin?
You will need permission from the court to extend it beyond 12 months. Given that the judge knows this, with any luck he will expedite your valuation hearing so the ownership can be sorted.
The law around admin are that you have to apply to a judge to extend admin for more than 12 months. Football rules are different, you are not allowed to start 2 consecutive seasons in the same admin. Therefore if you're still in admin come August, it's goodnight Vienna I'm afraid.You will not be allowed to play in the football league for the 2013/14 season.
We won't be in admin come next August, we'll either come out of it in the next few weeks or we'll be liquidated. I really do fear it will be the latter, or that we will somehow limp on to the end of the season to avoid nullifying all our results. I said sometime ago, even though I am not a fan of the guy, when everyone was telling Chanrai to f off out of our club - be careful what you wish for.
+1 I am sad too say. News emitting from FP earlier does not sound good..........it looks like the pot is nearlly empty again! I dont understand how this has happened........there were statements made by Birch / PKF to the value that there sufficient funds to take us through the entire season........allowing the FL to be safeguarded and the new owner sort and installed..........so how come we are out of funds half way through the campaign..............? I really feel admin birchy is puling flankers again........he hoped for new owners to be installed and for him to be long gone by now.......... BP
Maybe Trevor's searching for Roman Abramovich II (an incredibly rich man with more money than sense) to take over Portsmouth, after he found the original Roman for Chelsea? Talking of Roman- I once saw his yacht when I was on holiday in Mallorca. I'll tell ya what- it's still to this day the largest, grandest, words-cannot-describe-lush-and-fit for-a-king private yacht I've ever seen!
