Torres

YOu can do that pedg, I can't be arsed.

This could change the OldCo claims rather drastically

BT have to vote in favour of whatever is in the best interests of the OldCo unsecured creditors. HMRC are the biggest of those creditors now, by far. BT have to vote whichever way HMRC tell them to, IMO. HMRC aren't going to vote in favour of this ****e.

Appendix 6 - List of creditors HMRC owed £2.9m. Proof of debt for OldCo - £24.4m.

So hang on, football creditord and claims under £2500 will be dealt with outside the CVA and so are not valid claims for votes on the proposal? Eh? Regardless, BakerTilley have £16.5m of either £40.2m or £33.6m. They can kill this dead if they wish.

25th June is the vote, Ladies and Gents. Mark it in your diaries.

£500,000. F\/cking hell.

Yeah, I expect I'm probably making 5 from 2+2 but it might just be a sweetener for them...

I bought one last year (08 plate) despite people moaning about the stiff ride, small boot and service costs. The ride doesn't bother me (it's not as hard as people claim), the boot size is perfectly adequate for me (I don't tend to carry large amounts of crap around) and the servicing costs aren't bad at all, especially given the CBS means you don't have to have it done an a schedule. It's a decent drive, I get just over 50 mpg from it despite it doing a fair amount of short journeys in urban areas and it's only £35 to tax.

For Pompey's sake, I hope nobody does spill the magic beans. They are all they have to offer to the creditors.

rule one.

I wonder if Martin's loan might be tied to a deal for Clyne?

Avram Grant. Especially when he doesn't pay up, then promises you 20pence in the pound, over 5 years, less his expenses, and then gives you nothing at all.

Are they not allowed to take them both if they fight at different wieghts?

Nor indeed from the fans. In fact, they and the local media (FAO @pn_neil_allen) willfully ignored the very obvious concerns about the "dubious background" of their new owners and celebrated spending other people's money (maybe MLG could ask his friend Neil to give us the links to the artciles he claims he wrote questioning the wisdom of signing Huseklepp etc at the time - he hasn't given him a poke for a few days). Only when it came back and bit them on the bottom did they start to ask these kind of questions and thrash around desperately for someone else, anyone else, to blame. No sympathy. None.

There seems almost to be more written about Lampitt and SD than there is about Pompey's very immediate future at the moment

If I recall correctly, the "shifting" of CVA payments was possible before the liquidation of OldCo as the original payments and the scheduling of them were dependant on them being able to shift players in the summer transfer window at StorrieTeller's rather optimistic valuations. However, once the liquidation and transfer of assets took place this option was denied the owners of NewCo. At this point, they were no longer CVA payments - they're contributions towards liquidation that NewCo are obliged to pay. My interpretation (and it is only that, tbf) of the "4 years 3 months" period is just to cover the previously outlined schedule of payments. It doesn't suggest to me that these dates on which payments are "due" are flexible. Of course none of this really matters as BT, as supervisors of the liquidation of OldCo, are due £16.5m (less costs and expenses)from NewCo and are unsecured creditors who have the voting rights in any new CVA to match.

Not quite true. That was part of the original CVA and would have still been the case had the agreement not been reached for the liquidation of OldCo. Under the terms of the liquidation and transfer of assets from OldCo to NewCo, I quote from the UHY completion report: It's on page 2 and 3 here http://www.uhy-uk.com/assets/media/download/portsmouth%20reports/Completion%20report.pdf The CVA was, legally, completed, as proven by Appendix II of that report. However, at the time the NewCo failed to pay the first instalment to the OldCo liquidators (Baker Tilley), NewCo had effectively defaulted on that debt and agreement. The issue that the FL have to decide on is whether a completed CVA that no money was ever actually paid in to is a satisfactory method of exiting administration. I'd suggest it's not.

I've cobbled together a few posts of mine on this from a while back:- In summary, in theory there's no way that a NewCo CVA should get approved unless it offers creditors a whopping amount, which it surely won't. Having said that, nothing surprises me in this hilarious saga anymore. Edit - or, the amount of unsecured debt is wildly over-inflated to dilute the voting rights of those less favourable to any proposal. Not that something like that could ever happen, of course...

Not unsecured debt he doesn't. I wonder if there will be any pressure from Trust members to reject Portpin's CVA proposals in favour of some they may be fantasising about producing themselves? OR if any of the creditors have signed up to the Trust? Or how many of the massed numbers of Pompey fans are creditors? Or whether there'll be pressure from fans on creditors to not let Chinny back in? Given that the amount likely to be offered will make the last CVA look generous, I wouldn't be surprised to see some creditors stick their fingers up at Chinny and tell him to do one, "for the good of the club", whilst hammering the final nail into it's coffin at the same time.

Sorry, I know I shouldn't do this, but I really crack myself up at times... :lol::lol: :lol::lol:

Because neither the FL of PKF will answer that question even if anyone with access to them has the balls to ask it. PKF would probably threaten to freeze all info to any outlet that raised the prospect out of fear of that scaring any potential buyers.

You can't blame him at all for not exisiting. The blame lies with his fictional parents

Presumably it's the difference in the type of employment contracts that "ordinary" staff have at football clubs that normally sees them fired with no/little severance that excludes them from payment under the FCR. The players, coaching staff and executives presumably have fixed term contracts?

I didn't see him utter a peep while Lampitt and Cotterill were merrily going about their quality over quantity business despite it being an obvious road to oblivion. It was only when it actually came and smacked them in the face did he say a thing.