pedg

posted it on tother thread but might as well do it here as well. Match up on iplayer at: http://www.bbc.co.uk/iplayer/episode/b01h0qch/Match_of_the_Day_Live_2011_2012_Last_Day_of_the_Championship_Southampton_v_Coventry_City/

If anyone feels like watching it again its now up on iplayer http://www.bbc.co.uk/iplayer/episode/b01h0qch/Match_of_the_Day_Live_2011_2012_Last_Day_of_the_Championship_Southampton_v_Coventry_City/

What's ding - ding - ding - ding - diing - diiing - diiing - diiing ? It's the doppler effect heard when a bell goes past you rapidly in the opposite direction.

Yes, I shall tell my son and his friend over for a sleepover that I am going out for some heroin. Good call [actually given my son's lack of observancy I could probably get away with it]

Tried that. Iteration will be the death of me.

I am now drunk and I am still worried about tomorrow. Now not sure what step to take next?

Yes people off the pitch like the local media who failed to raise alarm bells for either administration and encouraged the charade of them being a bigger club than their attendance and income really implied.

pompey unveil new kit for final day fixture

about 4 times a year I wear a shirt with a collar, does that count?

"I am still in discussions with two parties, one of whom is more serious than the other," said Birch, from administrators PKF

A bit confused. UHY and Chainrai votes against the liquidation of newco and the formation of newnewco, one assumes to stop the accounts being investigated but surely Birch has looked over the accounts and is he not duty bound to tell the authorities if he finds anything illegal has happened? I wonder what is is they are trying to hide that is so important but not bad enough for Birch to call in the authorities? Or is it something so complicated that it would only be found after a more extensive examination?

unless the football creditors rule is found to be illegal. If that goes they can sack loads of player and put their debts in with all the other debts that will get pennies in the pound. The FL will probably hit them with a points penalty anyway but that's okay as long as they still get the parachute payments. Could pompey set a new record as the only league 2 club receiving premier league parachute payments?

I think he is referring to around 2.00 in this [video=youtube;SII-jhEd-a0]

As to the HMRC amendment I am fairly sure that before the meeting they knew it would be voted down given the share of the debt represented by UHY and Portpin so I see it more as something they put in just to help show that UHY and Portpin appear to have something to hide.

What a surprise... NOT

Just use the twitter search on #pompey to get the various reports together. https://twitter.com/#!/search/realtime/%23pompey

My feeling is that it will be the key decider about when Birch pushed the liquidize button. If say it will take 2 weeks for all the paperwork etc between a bid being submitted and being in a position to satisfy the league then if not bids 2 weeks before FL meeting then would surely have to pull the plug then rather than wait till the meeting?

Wish someone would ask when a deal would have to be sorted by such that an undertaking could be given to the league on the 2nd that they could complete their fixtures for next season?

have to laugh that the news reporters feel they need to put the year on the end of their pompey creditors meeting hashtag.

If this is the case would Chainrai have to bid on the club like anyone else or does his position allow him any other route?

I don't suppose they have bought a very big cake with them? Always one for the surprise entrance AA.

I assume that's enough to get AA on the creditors committee?

Thing is that Birch is charged with getting the best value for the creditors. Either that going to be done by selling the club and using the money raised to pay the creditors or by liquidating and selling everything to pay creditors. Thus the figure being quoted by Birch to buy the club is, I assume, how much it would need to be to making selling the club a better deal for the creditors than liquidation. As such there should be no way he would accept anything less as then he is not doing the best for the creditors. I think?

As I understand it if the club is liquidated I believe the document from Birch indicated that Chainrai would actually get nowt. or have I read that wrong?

Appears to me that despite his bluster about getting all his money that Chainrai is now caught between a rock and a hard place. On one hand Birch's document says that he would get basically nothing if the club was liquidated (though, I assume, open to a legal challenge on interpretation) and if he comes in to buy the club it would be hard for him to come out with more money than he has put in. Lets assume the latter. 1) He has to provide some money to buy the club. Assuming the trust comes in with a bid of £1M he would have to beat that. 2) He still has to do a deal with the creditors. If he's after the parachute money he would probably offer fractions of pence in the pound and take the points penalty. But its still going to cost. 3) He needs to clear players out. As they are football creditors any money due to them, even if he does not pay them, would be extracted from the parachute payments before going to pompey. 4) He would have to persuade the locals he is not just buying the club to asset strip it and wait for the remaining parachute payments as otherwise they will not buy season tickets and he will have to find money for wages elsewhere. If I was him I would be taking legal advice on Birch's statement with the aim of challenging it on liquidation as the other route is a lot more risk for an indeterminably small gain.