JackFrost

This is what a lot of people thought, but apparently a secured creditor can put them in administration without the court's approval, and what many people are asking is, what is the precise role of Chainrai in all of this? The media have already reported that going into administration will postpone the WUO, but whether a High court judge can block admin (at HMRC's request) is what a lot of people including me want confirmed

It is indeed

Unless you work in the banking industry :wink: But with this claim of Pompey owing HMRC 22 million now it was 11.5 at the court case, I can understanding it snowballing a bit with the delay in payment but to double in what 3 weeks? There must have been some debt restructuring somewhere, all to Pompey's disadvantage

must be why HMRC are so apparently desperate to have them liquidated. Although I'd love to know where they got that £22 million figure from, at the court case HMRC said it was half that.

So has an administrator not been appointed?

What could HMRC do in their power with regards to this? Apply for another winding up order?

That's what I thought.

Is this true?

Correct me if I'm wrong by all means but I don't think "going into admin" is going to be that easy for them. First they gotta find an administrator who is daft enough to take on the job and keep an insolvent club trading for 31 days (illegal anyone?) then to go into admin hasn't this got to be approved by the high court? They IMO are far from guaranteed to approve it Then we have the question of whether Chainrai is still a secured creditor or not and whether he even has the power to put them into admin. I'm no expert on these matters, but from where I'm standing actually going into administration is far from straight forward

I doubt the high court judge will fall for that.

If he is still a secured creditor and/or the high court accepts a request, and if can find an administrator daft enough to take this job on

But I thought it was only the high court who could put them into admin whilst the WUO was still around

I thought only the high court could put them into admin, whilst the WUO was around

Lowe & Storrie were chalk and cheese as to how they ran their clubs, Lowe was very cautious with keeping the club within it's means, although he failed to endear himself to the fans. Many would argue too cautious, although this ended when Wilde and Crouch got involved and it all became a battle of egos, whilst the club lurched into crisis. Storrie just oversaw years of ridiculous overspending and murky deals and then tried to portray himself as the victim. Lowe was bad he was nowhere near as bad as Storrie

They make scooby look balanced :wink:

I don't think Chainrai is the only one either . . . .

. . . totally speechless

You beat me to it with regards to pointing that minor detail out

ah ha, we have an old classic here After having supported Saints for many years I have long since lost count how many times we've played the league leaders and stuffed them, then faced a team propping up the table a few days later and lost. this game is going to be key test for Pardew. We should have too much for Wycombe, I'd take a 3-1 everytime here

SSN say "Chainrai is hoping to conclude the deal on Monday" with this South African lot

2-1 Stoke LOL

I think Delboy said similar things to Rodney in the 80s LOL

SSN reckoned it was too late to go into administration. I believe they can only do so if the court decided

Yeah it was, my mistake

Not in terms of being able to prove they are a solvent entity, it certainly doesn't