benjii

Er, I think that's almost exactly what Fry said. Remember, when he was doing interviews about how important it was that the club survived and everyone was saying what a top bloke he was? If I remember correctly, someone even suggested he was as much of a legend as MLT....

He's going on a "family holiday" to look for a new builder, was the last I heard.

In fairness I think there are probably quite a few posts predicting that they would go into admin before the second hearing of the winding-up petition.

I'm sure it'll be a bargain for someone. After all, the property market is red hot at the moment.

Oh yeah, good point. Bloody spin doctors.

Awesome - what a cracking bit of oratory. :smt038

Rory Delap probably earns more than Obama FFS.

It reminds me of grannies.

I'm a professional messageboard poster

perm

Hehehe.

Anyone got any Clarky-cat?

"A pot plant" - Lol. Why do I have an image of Storrie, Del-Boy stylee, obtaining a job-lot of pot plants from somewhere. The flipside of this is that I hope no one's mummy's day is spoilt.

Are you a pilot then? I thought you were about 17. No offence, I just did.

Absolutely, it's definitely open to challenge. Any transaction in the 12 months preceding the date of administration is, IIRC.

Maybe, although I don't think that would work. I seem to remember a sugestion that Chanrai had paid a tax bill at some point in the last month or so. Maybe this was done by way of a loan. More likely than a donation. Most lenders don't own 90% of a shower of **** football team

Why are people getting so excited about this incredible revelation that Chanrai has charges registered at Cos House - of course he fecking does. And if you think a couple of ex-football players will have anything intelligible to say on the subject I suggest you'll be disappointed!

The Barclays thing is a massive red-herring. Forget it. As I said above, the second security would have to have been preceded by a fresh loan in the prior 21 days. It's not a "normally"; it's an absolute or your charge would become an equitable charge only, not a legal charge.

I agree. In fact it's not even a question of the court considering whether HMRC can proceed or not. The company will enter admin and the hearing will be stayed - no consideration necessary. Simple as that.

No. The petition hasn't been granted. It's stayed. A winding up hasn't commenced. If it was that easy to cause a company to cease disposing of its assets, you could make all kind of mischieve by going around serving winding up petitions on people. The questions that will need to be addressed is whether or not Chanrai's security can be challenged inder the insolvency act or whether the sale of Fratton Park can. For the former, it would depend if it was a "Preference" (as defined in the Insolvency Act). I think this is unlikely, as on the face of it Chanrai lent them money so granting him the security wasn't treating him in any way unusually and was a perfectly reasonable commercial act. For the latter question, it will depend whether the sale was at an "undervalue" or not. If it was at book value then, again, it's probably ok.

Haven't read the intervening pages so I'm sorry if this has been covered but.... You can only register a charge within 21 days of its creation so there must have been another loan in December or it was suddenly decided that security was needed (if the latter is the case then that security could well be subject to challenge). Whatever... anyone who still maintains that Chanrai's involvement is a coincidence and nothing to do with Arkadi Gaydamak needs their head examined. It is also inevitable that this administration, assuming there is one, will be massively messy.

"Aiming" for the play-offs and setting the play-offs as the minimum benchmark are very different things, as you well know Mr Fry.

I'd be up for some "May Madness" this year please if you're reading Saints!

Yeah, but everyone knows that if you draw an away game against a team lower in the league than you are it's time to sack the manager.