hutch

It's wasn't, though. It was 20% after 5 years. It's underhand tricks like that that should be outlawed. Whispers now are a new CVA at 2%. That's about £1m. If the creditors accept it, give them back their golden share when they've paid it.

I don't think the football authorities require anybody to pay anything to anybody. They simply say if you don't pay all your football debts, you can't come back and play in our league. I don't see anything wrong with that as a principle. Golf clubs, gyms, etc. do the same I'm sure. What makes it abhorrent in Pompey's case is the parachute payments. It's unique to Pompey. Clubs in receipt of £48m in subsidies don't go bust as a rule. Twice. HMRC ought to focus on dodgy administrators bending the rules past breaking point, to let bankrupt companies rise again to repeat the scam in less than 2 years.

Bad, bad news for Chainrai. That's the parachute payments gone.

I can't see any outcome that would improve their (read "Chainrai's") position on a CVA vote. Last time all the football creditors, with their 100% guarantees in their back pockets, voted in favour of 20% for all the other losers. But it might possibly weaken their position. It's not inconceivable that, if HMRC lose, football creditors "might" be removed from the unsecured creditor vote, which would improve HMRC's position.

Wigan Stoke Sunderland Swansea QPR Wham Reading

I think that one is for all League games played. I nicked this link from KUMB, which is only for all games played in the top division.

Not sure I could agree with that bit. I still believe "Society" is better than that. A proper and streamlined approach to adoption or fostering might reduce the number of "unneccesary" abortions.

True, 'coz it never stopped them before.

I'm sure you already know this, but you'll need a NAS, not just a USB HDD, for Hipserv.

Yeah, I think "as and when due" would have made my point clearer.

I don't think any of that is right. First, and although it makes no difference, the payments in question here are from the PL, not the FL. More importantly, the PL rules, as they stand at the moment, certainly do say that if any club is behind with payments to football creditors, the PL will withhold payment due to the club and pay the football creditors directly. It's in Section C., around 60 and upwards from memory. As I understand it, that is exactly the point of the recent case. HMRC's argument is that it is unjust that, due to a "Gentlemen's agreement" from a private member's club, some creditor's are paid in full from money that should otherwise come to the Company to be distributed among all the creditors in accordance with insolvency law. I think what HMRC are looking for is, in case of an insolvency, all the parachute payment money due to a club will be handed over to the administrator or liquidator to be distributed fairly in accordance with the law of the land.

Seems to me there is a clear policy not to include any of next season's income in this year's financials. Prudent, but doesn't prevent announcing what the prices will be when they do eventually go on sale.

You can't beat a bit of Strauss. It will give you an excuse to watch all those recordings of "Strictly Come Dancing" you've secretly got stashed away as well.

Chainrai has PFC chained to an ever-lengthening rack, with electrodes connected to it's testicles and water dripping incessantly onto it's forehead 24 hours a day. And every time it drifts into blissful unconsciousness, he chucks a bucket of water over it and shoves smelling salts up it's nostrils. Such a shame they got away with it.

I do hope the FL Chairman will be sitting at the AGM with a copy of the 2010 minutes in front of him. "Yes, Mr.Birch, they said that last time. And that. And that..."

Isn't the UK full of non-EU "students" attending a mahoosive college located above a fish & chip shop in Southall? I doubt they'd have too much trouble getting a student visa to attend one of the foremost football academies in England (if they were deemed good enough to bring over here).

Even if they would actually receive £400?

There was a Creditor's Committee in Admin1. Did that automatically fall away at the end of the administration, or does it remain until the CVA is satisfied?

Wasn't it a consortium with Paigh de Taksis?

Birch was quoted shortly after he took over as saying the remaining PP's are £14m, and that somewhere between £7m & £10m is already committed up to the date of administration. That appears to be made up of unpaid wages & bonuses pre-admin, and future installment payments to other clubs. The "spread" could be due to uncertainty over Gaydamak's claim to £2.2m from the PP's. During admin, the "deferred" portion of the wages will be added to football creditors paid out of the PP's. That has been reported as £450k a month, but that seems high to me, although I can't see it being less than £250k a month. Judgement in the FCR court case may have a significant bearing on how much of the PP's a new owner will be able to keep.

You can't beat good old Woolies for everyday work wear.

Worked on it over the weekend, and ES File Explorer does the trick on both the Playbook & the Galaxy Tab. A piece of cake to install on the Galaxy, as it's an Android App and you can install it straight from the store. A bit more complicated on the Playbook, because it's not available in the Blackberry App Store, so it can't be installed directly. It has to be installed via a PC connected to the Playbook with a USB cable. I can now stream all the media content to the Galaxy and the Playbook from the Network HDD over the home WiFi network, and also copy music or video to either of them for travelling. Slight downside is that with the basic video player on both tabs, you can't bookmark how far you've watched if you log off and come back later to continue. But I guess if that's a problem you could install a more sophisticated video player app on the tabs.

I don't think that's true. But you do need a certain minimum of "home grown" players, 8 I think.

From what I remember Chinny (Portpin) was definitely the owner from the time Newco completed the purchase of the assets of Oldco from the Administrator (AA) in, I think, October 2010 until he sold it to CSI in June 2011. I don't think he was actually the registered owner at any other time, although he has almost single handedly been holding all the strings since Falcondrone defaulted on the first repayment sometime around November 2009. I keep reading with interest the confusion down the road that Chinny didn't ever "invest" £17m in the club. He hasn't claimed he did. Firstly, he's a moneylenders, not an investor, and secondly he lent money to Falcondrone, not PFC. Falcondrone put up PFC as security for the loan, and when Falcondrone defaulted, Portpin siezed control of PFC. Who Falcondrone are will probably always remain a mystery, but the whole saga is a bloody clever scam.

Means one player breaking through every season & hanging on to your graduates for an average of 5 years after they make the first team. That's not out of the question.