trousers

Spoilsport. I was rather hoping your next question was going to be: "Ok, and where does that tax money originate from?"

Politicians (of all hues) aren't liars per se, they're just very adept at presenting a 'truth' in an oblique way that's then open to various different interpretations.

Examples?

Source?

And falling foul of consumer law if true. If they promised a level of service and have failed to deliver then they ought to have widespread refund claims on their hands. Well, they would do if the British public wasn't so apathetic about exercising their consumer rights....

How much has the NHS budget been cut by?

I tend to agree in theory, but if it was that clear cut and watertight why would it bother him (to the tune of offering £500k in court!) who the administrator was? If he is/was a genuine creditor of PFC then Birch is as likely to get him his £17m back as AA is....surely?

Yep, such desperation has all the hallmarks of someone who knew the game would be up if they didn't maintain control.

Yes, those aforementioned 3 payments are the ones I was alluding to. But isn't the key thing here whether PFC or Portpin have any mutually signed paperwork that define the terms of those payments? In other words, is there a loan agreement? Who knows...?

No, that was funded out of my and your taxes too.

Reading between the various lines, I think Birch is aiming to call into question the validity of Chainrai's £17m 'debenture', isn't he? Thus wiping out a significant percentage of the debt in one swish of an email. If there is no tangible / legal evidence that Chainrai (Portpin) loaned this money to PFC (as opposed to giving it to them outright) then I can see Birch turning round and saying: "ok Mr Chainrai, sue us if you think you have a claim to that money." Whilst one assumes there is evidence that £17m went from Portpin's account to PFC's account, is there any evidence, other than anecdotal, that it was a loan and not a 'gift'?

Taxation

I can't word it any better than this.... 17 FebLord Sugar@Lord_Sugar Portsmouth FC goes bust 2nd time . Bet they will be playing on Sat, business as usual. Strange insolvency laws for football. JOKE !

^ This

In principle or in execution?

Are the Football League really THAT gullible? Note to self: You really must stop asking these rhetorical questions Trousers.

I agree with you....great minds...(and repeat....) ;-)

Hark! The sound of pennies dropping in yonder east is in danger of reaching deafening proportions :-)

We should nationalise the food and drink industry

People set in their ways in not voting for change shocker.

Will half a brain do? I'm gonna have to duck out of this thread otherwise.

http://www.talkcarswell.com/show.aspx?id=2253

There you go again. Quoting inconvenient truths on a footie forum. ...

In other news, the National Union of Turkeys (NUTS) have unanimously voted against Christmas this year.