badgerx16

But did you ever put out the plastic cones on sports day ?

water

brick

thieves

remove

bodyguard

Quo

MLG is correct; assuming the EPL stick to their rule book, rule 62 says they will fail in their appeal. :cool:

Unfortunately it's quite legal. You must hope that HMRC has over 26% of the debt affecting the CVA

threads

Viper ( or is this game like 'Just a Minute', no deviation, hesitation, or repetition ) ?

ypres

See, my first look on this thread today. and we score !

( Portsmouth's ) season

Blackberry

(tax) evading

Statement from the EPL http://www.premierleague.com/page/Headlines/0,,12306~1978356,00.html " "The Premier League can confirm it has received notice from Portsmouth FC that it has suffered an Event of Insolvency and entered administration. "The Board will now convene to invoke its rules and policy in relation to this matter. "The Board will also meet the Administrator at the earliest opportunity to receive their views on the financial status of Portsmouth FC and set out the conditions for the club to fulfil its commitments for the remainder of the season. "We understand the need to act as swiftly and transparently as possible; however there is a process which means we can only provide comment at the appropriate junctures." Take into account this statement made at the start of the season re financial control http://www.premierleague.com/page/Headlines/0,,12306~1797644,00.html With regard to the 9 points, ( this was posted earlier on this thread ); The section on Sporting Sanction in the rule book covers rules 60-70 http://www.premierleague.com/staticFiles/c5/47/0,,12306~149445,00.pdf Sporting Sanction 60. Upon a Club or its Parent Undertaking suffering an Event of Insolvency the Board shall have the power to impose upon the Club a deduction of 9 points scored or to be scored in the League competition. If the Board exercises this power it shall forthwith give written notice to the Club to that effect. 61. Subject to Rule C.62, the Club may appeal against the deduction of points by sending or delivering to the Secretary Form 2 so that he receives the same together with a deposit of £1,000 within 7 days of the date of the notice given under the provisions of Rule C.60.2 (time of the essence). 62. The only ground upon which a Club may appeal as aforesaid is that 62.1 the Event of Insolvency was caused by and resulted directly from circumstances, other than normal business risks, over which it could not reasonably be expected to have had control; and 62.2 its Officials had used all due diligence to avoid the happening of that event. 63. An appeal under the provisions of Rule C.61 shall lie to an appeal tribunal which shall hear the appeal as soon as reasonably practicable. The appeal tribunal shall be appointed by the Board and shall comprise 3 members of the Panel including: 63.1 an authorised insolvency practitioner and 63.2 a legally qualified member who shall sit as chairman of the tribunal. 64. The chairman of the appeal tribunal shall have regard to the procedures governing the proceedings of Commissions and Appeal Boards set out in Section R of these Rules but, subject as aforesaid, shall have an overriding discretion as to the manner in which the appeal is conducted. 65. The Club shall have the onus of proof of the matters set out in the appeal on the balance of probabilities. 66. If the members of the appeal tribunal are not unanimous the decision of the majority of them shall prevail. 67. The appeal tribunal shall give written reasons for its decision. 68. Members of the appeal tribunal shall be entitled to receive from the Company a reasonable sum by way of fees and expenses. 69. The appeal tribunal shall have the following powers: 69.1 to allow or dismiss the appeal; 69.2 to order the deposit to be forfeited to the Company or repaid to the appellant Club; 69.3 to order the appellant Club to pay or contribute to the costs of the appeal including the fees and expenses of members of the appeal tribunal paid or payable under Rule C.68. 70. The decision of the appeal tribunal shall be final and binding on the appellant Club.

They can sell at any time, the issue is that the buyers can't register new players until the window opens. Considering what was said earlier this month, wasn't it going to be 'open' only for EPL teams to buy ? Can't see any other UEFA leagues bending the rules.

So if HMRC are owed more than £15M they get a vote on the CVA ? :smt070:smt070

Normally 12 months, but some extensions to 18 may be permitted ( I think that's right )

GOOGLE is the greatest tool in the world ( After Peter Storrie )

From http://www.mbiequity.co.uk/glossary/ glossary Administration A formal procedure where an Administrator can be appointed by either the directors, shareholders, floating charge holder, or the court for the purpose of rescuing the company as a going concern or achieving a better result for the creditors than would be achieved otherwise or simply to realise assets in order to pay secured or preferential creditors. In this procedure, the assets of the company are quite often sold to new owners [sometimes the former directors] so that a turnaround can be implemented. In the ideal scenario jobs are saved and returns to creditors are enhanced. Administrations must be concluded within 12 months.

As if we got any from them ! Let them crash & burn.

They might soon be free agents anyhow:D

Said on the BBC this morning that once in admin, they can. :confused: