Clapham Saint

Although we have also had the bull**** about a new bank loan, have they not admitted that they need to sell players in the window to be able to meet all the required payments? No news on any departures yet. The longer that remains the case, the more likely that they will go pop this week IMO.

Agreed. If of course the fit and proper test is anything more than a box ticking excersise to confirm that the person/company exists. Does the F.A. puplish what the fit and propert test is intended to achieve, or have they just given a thorough sounding name to a one page application form?

Althoug by no means a certainty, if Pompey are still using a Barclays overdraft, as soon as Barclays became aware of the winding up petition I would hae expected it to be frozen. At least until they had some certainty with regard to their position. Then again they probably have accountants all over this.

They seem so desperate to get out excuses that they forget that they only need to give one at a time.

I think it is more likely that they are beng run by liars...

Spot on IMO. I can't see them going out of existence either, and (when I'm being sensible) I don't want them to disapear completely either. Their current incarnation may well go pop but like a bad smell they will be back.

Looks like bull to me.

Fair enough... I suppose it takes time with shipping and so on.

The payment will have been due on the 19th or so and when it wasn't received in went the petition. (IMO)

If HMRC have put in a winding up petition then you have missed the December payment. I'd be amazed if they had done it in anticipation of a missed payment. The club's installment deal with HMRC will have been formally agreed in writing and they have missed a payment. "The cheque is in the post" / "dificulties in setting up a new account" won't wash with HMRC.

Where is CoHo when you want to talk to him?

In this case they have my full support.

Time for an Avatar change...

Lol!

I haven't seen all of the details and talking about every posibility would both take ages and be a little dull, however from what I have seen... HMRC have applied to court to have the Company wound up on the basis that it is not a going concern. Thier evidence that it is not a going concern is that they haven't been paid what they are owed. It is very unlikely (IMO) that this will actally get as far as the court date. Either the directors will find the money (from god knows where) to pay what is owed (or enough to persuade HMRC to set the petition aside - but I doubt that HMRC will do another deal at this stage), or they will appoint administrators themselves. Given that I can't see any likely circumstance where the petition would fail, if the directors don't appoint administrators and continue to trade knowing that they are not a going concern then they open thenselves up to potential wrongful trading claims and could become personally liable for debts. Also if what other posters have said re the players contracts is correct paying the players tomorrow would have to take priority over paying HMRC as if all your players are able to leave for nothing then you don't have anything to sell. With that in mind, if I were a club which had agreed to buy a pompey player, I would pull out and slash the agreed price knowing full well that they don't have any choice but to sell for anything that they can get. Much as happened to Leeds when they sold Kewell to Liverpool and were royally shafted. The fat lady is in full swing.

Exactly. You are either: a) sure it will be fine as the money is already in the bank b) hopeful that although there isn't enough money right now, if you get the money that you are expecting/praying for it should be ok, or c) know it will go tits becuase you don't have the cash.

As I understand it.... One of the factors is not exiting the Administration by way of a CVA in which all football creditrs must be paid in full. HMRC vote against all CVA proposals which propose paying football creditors being in advance of HMRC as a matter of principle. In our case Marcus bought the whole company (although he left the holding company and bank debt behind) as so amounts owed to HMRC and other clubs were paid in full. In the case of the skates, a huge proportion of their debt is owed either to other clubs or HMRC. Somebody looking to buy them from an administrator would need to buy the club, then pay off clubs owed fees and HMRC in full to avoid further penalties. This is before he can even think about buying the ground/land around the ground etc. I really think they're f**ked.

By the looks of things the only way that the players can be paid is if a load of players are sold on 1st January. They'll need buying clubs to pay the fees a day in advance too. As for the embargo it depends how many they sell but if they are still (say) £8m short of what tey owe to other clubs/HMRC/etc/etc they will have to sell £8m more than they spend... Barring a christmas miracle idiot investor they are doomed whichever way they turn imo.

Can you aford £80k per week?! Bloody NHS and their inflated wages...

Reads to me like somebody trying to insist that they are not over a barrel so that other clubs don't make stupidly low offers in the knowledget hat they can't be turned down (as when Leeds sold Kewel to Liverpool).

And one man's crumbling festering **** heap is another man's crumbling dump. :wink: Either way it's not a tie!

Bit harsh...

You've talked a fair amount of sense on this thread but.... PLEASE!!

As somebody else pointed out earier...