Clapham Saint

Does he actually own the ground though? Having security doesn't automatically mean that you can take ownership. It would give you priority over other creditors when an administrator/liquidator sold the asset. That said there was apparently a specific clause allowing him to take over the business so who knows...

If the club is wound up and even one of the players moves to another club as a free agent then HMRC will get what is due from that new contract. They aren't currently getting anything whilst Poopey continue to trade.

IMO if it gets as far as the court, agreed, they will be liquidated. The logical thing to do in that case is to place the Company into administration (will need to be done by one of the secured creditors). But this has been the case for some time. Why didn't Chanari (sp?) put them into admin BEFORE the end of the transfer window when an administrator could have sought to raise some funds? To have missed that opportunity was either a mistake, or is it possible that his "takeover" is just an attempt to stall the court decision? An attempt which I think should and will be brushed asside.

I would suggest 1 point for every goal that the team scored in the game in which the offence occured. So -3 then.

If Chanrai doesn't put more money in I expect them to either be in some form of insolvency procedure by the end of Wednesday. You can obviously never say never but I don't see any reason to give them an extension.

They will. The only question is Admin on Tuesday or wound up on Wednesday.

Exactly we're not writing it off. Just not insisting that they pay upfront.

Boom tish!

I can still see no reaon why the court shouldn't wind them up on Wednesday.

Ah, already covered.

If they are insolvent then the court will wind them up. HMRC's case that they aren't able to pay them will be enough unless Poopey can demonstrate otherwise. A case of guilty unless able to prove otherwise.

I'm not actually not sure about my grandfathers, they are both dead but I really should speak to my parents to find out exactly where they served. My great grandfather was this chap. The Dambusters link is a matter of particular pride for me but he was an exceptional man all round.

Indeed. If true then there goes their only hope out the window!

And don't forget the car park next the stadium which is going to be bought by Tesco for £8bn. Sorted. Everything will be fine. \\:D/

It goes A to Z and then starts at AA. Not sure what the final row is but I would have thought W is a little over half way up as it probably goes to around about PPish.

Has he become a shareholder or is that still contested? Did he become a shareholder by converting his debt or has he been paid mirrage's shares as compensation for the default? I haven't got a clue who owns what or who owes what to who anymore... IMO opinion there must be something fishy [pun intended] as it makes no sense that he didn't put them into admin the sencond he didn't get the TV money. An administrator would have sold players in the transfer window and raised cash for the creditors. As things stand right now he would need to pump in 26 million or so (£11m HMRC, £15m wages and ongoing HMRC to the end of the season if 5 months of £3m per month) at least in the hope of getting something back. All this "stablising the club's finances" talk is guff too. He can pay the debts arrising to the end of the season but this won't change the fact that the club is losing money. He would be out for around £46m by the end of the season (current £20 plus the £26m). Whoever he sells to (if he can) is still going to have to pump in a load more money to make the club stable and even then it will most likely be in the Championship. Who on earth is going to do that!?

Am through on the 01271 number. Engaged for ages then rang for about 3-4 mins.

At 9.15 3 IT chaps (including the national head appeared behind me and asked if they could take a look at my phone. Apparently it had registered enough outbound calls in the previous 30 mins, as i tried to get through to the 0800 number, to flag up on the system. Oops. Now the 01271 number is just giving me the engaged tone! FFS!!!!

It would put a "freeze" on everything so yes. The directors aren't able to appoint administrators anymore though. It would have to be one of the secured lenders as Saint Keith said above.

This one.

If there are no players then there are no assets for there to be security over. If they cease to exist then there would be no player sales and no money raised to pay over to the floating charge holder (from players anyway) Security doesn't automatically mean that the lender takes ownership of the asset. It gives priority over other creditors when the proceeds of selling the assets are dished out.

If he has a floating charge over all assets (as reported) then he actually has a charge over the contracts of new signings as well...

Is that a fiver in your pocket or are you just pleased to see me?

If they are able to pay there is no reason why it shouldn't be today. Only if they are able to pay HMRC in full before the 10th. Err... which they can't. More lies and bulls**t

Total BULL. In a worst case HMRC will put you on an emergency tax code (which is HIGH) and you can claim back the difference later.