Clapham Saint

I think that Friday's events were the best thing that could have happened for the phew. They should now either i) get a new owner, hopefully with no ties to the old regieme or ii) be closed down and liquidated, no doubt with a new club starting in the lower leagues. If they do get a new owner I wouldn't be suprised if further points deductions follow as a new buyer would probably still need to invest more than the club is worth to be able to get a CVA agreed. You never know though I guess If they do start in the lower leagues at least they will have a clean slate.

No ......

Given that he is the administrator of csi and has never had a formal appointment over the current company, my first question would be to as why he has had the best interests of the club in mind and not the best interests of csi's creditors...

The administrator doesn't have to pay the cva. The sale of the club to a new company means that the new company just have a liability to the old one which is equivalent to the cva payments. As of yesterday the new co is protected from all creditors which already existed prior to the administration order - including the balance due to the old company. The football league might take a different view when considering points deductions but the administrator won't be paying anything towards the cva (now a liquidation of old co).

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