trousers

Is God a socialist?

Alive and well on Facebook

Because Pompey are a law unto themselves

I'll give you £100k for a fortnight. Your place or mine?

I'm sat here reading this thread thinking: "Three years ago we were contemplating trips to Dagenham and Redbridge and now we're debating whether there is a transfer tussle between ourselves and Everton for one of the country's potential top strikers". Ain't life grand :-)

Maybe. Maybe not

If we're not his preferred choice then we should move on to the next target IMO.

What dish was he making for his main course? Humble pie...?

Was asking the same thing above about another entry in that table (http://www.saintsweb.co.uk/showthread.php?14620-Pompey-Takeover-Saga&p=1383845#post1383845) Does anyone know the difference between the two columns? My guess is the "Statement of Affairs" column is the position as the administrator saw it when he first took control of the club (i.e. what was in the club's accounts at the time) and the "Proof of debt" column is what the creditors have subsequently claimed for (and have provided evidence to back up said claim). Maybe? If that's right, it would be interesting to total up the two columns and see what the difference is....

It's referring the 2010 'version' of PFC, not the current incarnation... i.e. those owed money under CVA1 The CVA1 figure usually quoted is the £16.5m one. But CVA2 lists a figure of £24.5m for CVA1 under the 'proof of debt' column

What could they possibly want to hide.....?

Oops...."The link could not be found"

According to today's PKF CVA doc, they (PKF) have currently racked up over £1m in administration costs....(if I've read the doc correctly)

Just noticed this in the list of creditors: Name.........................................................................Statement of Affairs.....Proof of Debt........Address Portsmouth City Football Club Limited (In Liquidation)......16,500,000.00..............24,435,795.32......C/o Baker Tilly, 25 Farringdon Street, London, EC4A 4RB What does that mean? That BT are claiming more under CVA1 than is actually on 'the books'?

Is that referring to the alleged 'creative inflation' of the number and/or amount of creditors under CVA1 by "you know who"? And that they are now trying to reduce that to gain an advantage in the voting for CVA2....?

A misleading headline by the BBC if I ever saw one.... http://www.bbc.co.uk/sport/0/football/18370604 Bid accepted? Accepted by whom exactly?

Any idea why the Parachute Payments wording in the CVA proposal doc is written in such a non-definitive fashion? "According to the company's books and records"....? Why word it like that? Surely a quick check with the Premier League would tell Birch the exact figure due? Why the element of doubt?

Of course not....who would suggest such a thing....?

The Pompey Supporters Trust's response begs the question....why has Birch seemingly jumped the gun by recommending/endorsing Portpin's CVA without waiting for any counter offers and then decide which is "best"?

Ah...here it is..... http://www.pompeytrust.com/index.php?option=com_content&view=article&id=409:pst-statement-080612&catid=34:demo-category PST to table counter-offer in coming days. POMPEY SUPPORTERS TRUST STATEMENT IN RESPONSE TO PORTPINS OFFER TO CREDITORS - 08/06/2012 Following the release today of the details of the Proposal to Creditors for a Company Voluntary Agreement by the Administrators of Portsmouth Football Club (2010) Ltd by PKF (UK) LLP and by Portpin, the PST would like to take the opportunity to respond. The details of the proposal are not unexpected and were discussed at a meeting this morning of the PST Bid team, it is by no means certain that this offer will be accepted by the Creditors. Having now seen the detail of Portpins bid and offer to Creditors, we would like to announce the following. Early next week Antony Fanshawe of Begbies Traynor, acting on behalf of the PST, will have formal discussions with Trevor Birch and PKF with a view to presenting a bid from the PST on behalf of the Community within 7 days. We are confident that this counter-offer will deliver a better return to creditors than the offer made today by Portpin. We would also like to urge all Pompey fans and supporters of the PST and the Community Buy-Out to stand behind us during this process and continue the great support we have had throughout the past few months. We are still accepting Pledges towards our Pre-Share scheme and every one will help if our bid is successful and it will guarantee that the majority Shareholders of Portsmouth Football Club through a Community Buy-Out will be the Fans themselves.

Didn't someone say there was supposed to be a Pompey Trust statement at 3pm? Anyone seen it?

Can someone explain how the 'asset' known as Fratton Park can be valued at £13.2m on the company books yet at the same time be valued at only £1m if it were to be sold on the open market upon liquidation? In other words, how is a company allowed to exagerate the value of something for the purposes of accounting? Surely the ground has one value - i.e. the value anyone is prepared to pay for it at any moment in time. Are they saying that the ground is worth 13x more just because someone is playing League One football on it? And are they assumign the council wouldn't revoke the "football use only" clause if no-one actually wanted to play football there? i.e. the council would rather see the land turn into a waste ground than, say, sell it off to Tesco. All seems like a lot of creative accounting to me in order to make the gap between "CVA" and "Liquidation" as large as possible....

So, according to that, I make it 23rd July as D-Day for Pompey.....i.e. if Birch can't sell them by that date (28 days after the CVA meeting on 25th June) then that's that.....

So, in other words, Chainrai is going to convince AA/UHY Hacker to give up their 6 figure claim so he can claw back the 7 figure sum he is owed....? Seems like one way traffic to me....