Clapham Saint

A notice of intention to appoint administrators is a formal document which gets filed at court giving imeadiate protection from creditors for 10 workings days. This is usually followed by the appointment of an administrator whithin that period (as happened at Rangers) The 10 point deduction is a result of having received the legal protection from creditors. P*mpey haven't filed a notice of intention. They've just announced to reporters that they intend to apply to court, which isn't the same thing. Chinney doesn't have a floating charge over the assets of the club (or he would be able to appoint an administrator directly). He has a charge over the assets of CSI - one of which is the shareholding in the club. The application to court is being made by the directors (or at least I presume so).

What's the difference between a "self-professed" millionaire and a normal one...?

Can't link to the photo for some reason but he's looking in his prime here... And here...

Only delaying the inevitable. The problem with sticking your fingers in the dam is that sooner or later you run out of fingers. This way we get to play them again this season.

With regard to compulsory purchase... I don't know the letter of the law but I would assume that it has to be purchased for market value, or potentially a premium. On that basis I struggle to understand how this is being used as a reason that Chinny would be better off co-operating with a new purchaser. If he sits tight he either gets to sell FP to Tesco or to the council. Granted, he might get a slightly better deal if he can sell to Tesco, but even if he can't its still better than putting more money into the black hole.

Cash flow is, if anything, more important than Net assets. The most important test is "can they pay their liabilities as and when they fall due". HMRC say not

Much much lolage.

As would I. Turning up to help in keeping the current crooks running though? Not a hope in hell.

Will you accept 20p* in the £ over 5 years? *after costs

Actually, how much to ciggarettes cost these days? 200 per week, assuming £5 for a box of 20 (??) works out at £50 per week. 61% of the saving required.

Everybody has their own priorities but strange that both my wife and I earn a similar amount over the average wage and decide that Sky TV isn't worth the extra over Freeview (we'd only use it for the football and even then only occasionally), but them them it is an essential spend with heating and eating considered for the chop first. Maybe I'm just tight. Should this family have to chop £82 a week off their income/expenditure I don't doubt that it would be very dificult for them however, £24 cans and 200 cigs a week, sky TV and mobiles for all a week really aren't a necessity. Personally my feeling is that living on benefits alone SHOULD be very dificult (those not working due to disability etc excepted). Whilst it is right that I am taxed to support others who are less well off I would much rather this family's income was capped and the money used to support families who are getting to work but are struggling due to low pay.

1 - Ditto 2 - Weirdo (I'm 32)

Somebody posted the rules a few pages back. I beleive that the "club" is entitiled to the payments and as the club was bought by new co then they would come to them. More interestingly though it stated something very similar to "Should the club cease to be a member of the football league then the payments are redistributed amoungst the other clubs". Usually "no longer being a member of the football league" would happen when a club is promoted back to the PL. However... if P*mpey were to be liquidated I read it that all the other FL clubs would be due a share of the parachute payments. It could therefore be argued that forwarding the payments to P*mpey outside of normal terms (and hence delaying the inevitable insolvency process) is unfairly depriving other clubs of income which would otherwise come to them? Hmmm...

Like 13% of respondents, you've been rated: Euro-septic

She looks stoned...

A PO based football team sponsored with Saints (web forum) splashed accross the front. That would go down well...

Only on the timescale. Nothing has ever happened to make the business sustainable and so even if by some miracle a sale is acheived they will still be a long way from being out of the frying pan (/toaster).

I suspect that what ever the original plan was it has been well and truely scuppered by the Russian's arrest. The admin and current crisis is just an attempt to pick up the pieces. (on a separate note, and though others will disagree, I'm glad you're back)

I said about "toast" 800 pages or so ago. I see no reason to change my mind.

http://en.wikipedia.org/wiki/Ben_Lockspeiser Great Grandfather

The world cuP in quatar is going to be interesting...

This isn't unusual.

Provided he is comfortable that he doesn't have a conflict of interest then yes.

At a guess: A big one will be the liquidator of the old company (pre the last administration) for the purchase price of the club (equivalent to the CVA payments) Players (wages) HMRC All the businesses which have dealt with the club since the last administration and not yet been paid. Probably not any banks as I expect none are prepared to lend them any money. Chinny (I have not followed everything closely enough to understand who owes Chinny what but no doubt he'll crop up in there somewhere). What are the odds on a new (aditional) CVA diluting all creditors to 20p in the £? If the liquidator of the old company doesn't have any security (I have no idea if this is the case or not - just speculating), the amount paid to the liquidatior would be reduced by 80% leaving the original creditors £20p in the £ reduced again down to 4p in the £. Less costs.

(Maybe) Because they start with the expectation that the various 3rd parties are prepared to do a deal (I think they have all publicly stated that they never wanted to own the various bits of land that they do) only to be either told to jog on or quoted a huge price. Why would Gaydamak do a deal on the cheap to a potential purchaser of the club when Tesco are alegedly waiting in the wings?