Gruffalo

Or if you don't want to register an account, http://www.tinypic.com is quick and easy..

WUP aside - to enter administration, I thought that a Company requires appropriate permission from a court, after convincing it that there is an underlying business which is worth protecting from its creditors. Absent any semblance of a solvent or going concern, then a court shouldn't permit the Company to bolt down that particular rabbit-hole.

They'd need permission from the courts to enter administration (again). And for that to happen, they'd need to demonstrate that there was a business worth protecting. Unless a White Knight comes galloping over Portsdown Hill clutching bagfuls of cash, then it seems to me more likely than not that the courts would deny them the rabbithole of another spell in administration.. Takeover or liquidation, I reckon - and the ticking is getting louder..

Probably because any negotiations are being handled by AA & DL.. It seems that there's a number of goings on at FP where Applemort finds himself outside of the circle of trust..

I think it's fair to say that Chinny just wants as much of his money back as possible - he has stated publicly on several occasions that he really doesn't want anything to do with the football club. So, what would be the odds on AA managing to wangle an advance on the parachute payments, with the money being stuffed into Chinny's hand baggage on the next flight to Hong Kong ? He could then walk with £8m in used notes, send the club into oblivion and still hold a charge over whatever scraps were left (ie Fratton Park, or at least the land upon which it sits).. Or is that just wishful thinking ?

Don't anyone feel sorry for Satchel Face's accomplice - she knew what she was doing..

According to an email from Gerald Vernon-Jackson (maybe 2 years ago), there are no lawfully enforceable covenants which would impose [must be used for leisure / sporting] restrictions on the land currently occupied by Fratton Park. GVJ did suggest that the council would likely support the re-housing of PFC before allowing the development of the FP land, but this is not the same as the widely held belief that the land can only be used for sporting purposes.

He conveniently ignored every question I have posed regarding how a takeover would be financed or where the money to settle the £40m of debt would be sourced, bearing in mind CCAA's has $14m of debt with no revenue stream and Cala's personal wealth being stated (by him) as £82m 'only'.. The questions he did 'answer' simply cannot have been for real - he has spent an hour of his life saying absolutely nothing.. Further evidence, if any was needed, to support the theory that any takeover by Joey is little more than pie in the sky..

He clearly didn't run it through BabelFish before letting it through..

That'll be me..

If there's going to be anyone 'buying' them, this lot seem as bad as any the few could hope for..

Good to see the grubby goings-on at Fratton Park being more and more widely publicised.. http://blog.emiratesstadium.info/archives/17655

Times must be really hard with the cheats - the widow of Len Phillips, the last member of the skates' championship winning side, asked PFC if her husband's wake could be held at Fratton Park. No problem was their response - that'll be £500 for the room, and £1000 to lay on a few sandwiches and tea / coffee.. Everyone at FP who is in any way associated with that decision should hang their head in shame. http://fansonline.net/portsmouth/mb/view.php?id=395550

Would it make any difference that the skates' previous slide into administration was during their time in the Prem, whereas the forthcoming visit will be as a FL club ?

I suspect the FL deferred its decision until such time as 1) further information could be gathered, and 2) it reconvenes for its next meeting. If this is the case, expect a decision sometime January - possibly to coincide with (or influenced by) the players not being paid..

Then again, the players on [over] inflated salaries might not want to be sold if it meant taking a wage cut. I wonder how many would follow a similar path to Brown & Hughes and simply see out the remainder of their contracts instead.. Of course, all of the above may be largely moot unless poor old Po**ey manages to find someone willing to invest cash enough to keep the life-support machine running beyond January 2012.. Tickety, tick, tick, tock..

The Bloomberg report suggests it's [still] £17.2m, the amount deferred for 2 years from the date of Chinny's takeover, plus interest at 8%.

Didn't AA go public on Radio Solent and state that the club has sufficient capital to operate for 6 weeks (from the end of November) ? And with regard to possible sanction / points deduction, didn't the FL tighten the rules post-Rupert such that there needn't be such an 'inextricable link' between a parent company and its child ? As for Ho-Ho-Ho thinking that any stolen funds which might have found their way into Po**ey's coffers could simply be kept - well that is just naivety beyond belief..

About 20 minutes ago, I asked Lampitt whether the club's working capital would be all gone come early January (as stated publicly by AA), if that required a fire sale of players to enable the club to keep going and for how long such a 'business plan' would be sustainable. Either he hasn't got to the question yet, or he has declined to answer. My money is on the latter.

From UHY's Completion Report - http://tinyurl.com/cex7aen '..PFC10 is obligated to make a contribution to the Liquidation which ensures a dividend of 20 pence in the pound, before costs and expenses, is paid to all unsecured creditors. I have detailed below the dates and quantum of the contributions due. Please note that the percentages are that of 20 pence in the pound: Contributions due: 15% of 20% of the unsecured creditors’ claims agreed in equal installments on 1 April 2012 and 15 August 2012 25% of 20% of the unsecured creditors’ claims agreed in equal installments on 1 April 2013 and 1 September 2013 30% of 20% of the unsecured creditors’ claims agreed on 1 April 2014 The balancing figure required in order to comply fully with the CVA proposal document approved by creditors on 6 May 2010 is due by 17 June 2015.' Spring 2012 is going to be a very interesting time..

As I understand it, the £16.5m is in respect of the CVA only. Any secured debts (ie Gaydamak) are in addition, on top of and as well as, the CVA.. April 2012 is the date the first scheduled payment of the CVA is due (7.5% of £16.5m = £1.24m). As far as I recall, secured creditors were supposed to be reimbursed directly from parachute payments.

Interesting article about Vlad and his 'operations' here - http://tinyurl.com/bntgvoa. Reading between the lines, it seems there could be some very big-hitters amongst the people he has [allegedly] robbed over the years. He must be very used to sleeping with one eye open.. Date duly logged in diary..

No decision on points deduction, so their [repaired] clock ticks on a while longer.. http://tinyurl.com/cxzzd3g

I appreciate it is 'only' the Jewish Chronicle, but if there is any truth in the report (at all), then it provides further evidence (if any was needed) of the 'inextricable' financial link between CSI and Po**ey..

I'm no insolvency expert (rather like AA), but the recent debenture / charge looks very dodgy to me: (My bold).