Guided Missile

Maybe not, according to the Independent Article: Similarly, it seems certain that historic outstanding bonuses to a range of players (including Johnson, owed £265,080, and Peter Crouch, owed £282,000) will be treated as "football debt" and those players will get their money through the insistence of the Premier League, if not the law. But cash owed to players for image rights is not necessarily protected as football debt.

Let's get one thing straight. After the winding up order was published in the London Gazette, a court order was required to transfer assets from the club. It was not possible to change the status of members, ie shareholders, or creditors. Any such activity will be ruled invalid, ie unsecured. Even then, the debts have to be shown to be valid to the court, ie have a loan instrument that was agreed by Portsmouth City Football Club and the lender. I think that the court will quickly whittle down the supposed debts that the administrator is claiming. What people also forget is that two can play at this game and HMRC have not even started with penalties and interest on the money they are owed. Since April 1st of this year, they can impose penalties of up to 100% of the VAT owed and if the company can't pay, ie is insolvent they can force the directors to pony up. The fun will continue for a while and it continues to look more and more like that scene in "Bridge Over the River Kwai", when the train crashes into the river. For those that are interested, the Bridge Over the River Kwai, Thaksin Shinawatra and the whores from Horton Heath, are all from Thailand... ...the "All You Can Eat" Sunday buffet at Kuti's Royal Thai Restaurant is the only good thing to come from there, TBH...

Depends on what fraction of the total debt is secured and frankly, I don't believe a digit on Pompeys accounts, audited or otherwise. A totally crooked organisation, even before Daniel Azoughy started plundering Fuglers client account...

Before I go, I think it is instructive to consider yet again what will be the major issue for HMRC and the rest of the creditors at the CVA meeting. No apologies for bringing it up again, but in the cloud of bullsh !t, there is one inescapable rule that applies to Portsmouth City Football Club Limited and any other company registered in Enland and Wales and that is the requirement to register charges at Companies House. I've spent my £3 and I am sure that HMRC has as well and I bet a pound to a pinch of sh !t that NONE of the recently discovered "secured" debts discovered by our intrepid Greek have been registered at Companies House. Why do I think this is important. Well, I think this explains: The following require registration in England and Wales: A charge to secure any issue of debentures. A debenture is an instrument issued by a company as evidence of a debt or other obligation. It includes debenture stock, bonds and any other securities of a company, whether or not it forms a charge on the assets of the company. A charge on uncalled share capital of the company. Uncalled share capital is the balance owing for shares that are issued partly paid. A charge created or evidenced by an instrument, which, if executed by an individual, would require registration as a bill of sale. A bill of sale is an instrument creating or evidencing a charge or mortgage over goods, including fixtures and agricultural crops in certain cases, but not ships or aircraft. A charge on land (wherever situated), or any interest in it, but not a charge for any rent or other periodical sum arising from land. Technically, land includes property. A charge on book debts of the company. Book debts are debts that in the ordinary course of a company's business are commonly entered in its books. A floating charge on the company's undertaking or property. A floating charge is a charge that does not affect the assets charged until some event 'crystallises' (fixes) the charge to a certain point in time. A charge on calls made but not paid. Calls made are demands for payment of any part of the balance owing in respect of shares which are issued partly paid. A charge on a ship or aircraft or any share in a ship. A charge on goodwill, or on a patent, trademark, registered design, copyright or design right or a licence under or in respect of any such right. What if the charge is not registered in time? If a registrable charge is not registered in time, then it is void against the liquidator or administrator and any creditor of the company. This means that the debt for which the charge was given will remain payable, but it will be unsecured.

I'm just glad that Peter Storrie learnt from our experience, as this article showed: We will stay debt-free pledges Storrie Published Date: 17 May 2005 POMPEY have vowed not to follow Saints into the type of financial meltdown reaped by relegation. Blues chief executive Peter Storrie said: 'If you chase dreams and let finances get out of control, you go out of business. 'But if you're clever, that doesn't happen. It all boils down to not getting into debt. You can't spend more than the income coming in. That's why we're trying to make prudent decisions. 'Wages and transfer fees are where the money goes. That's the thing you can't let spiral. The wage bill has to be sensible in relation to the income. 'We're getting the balance right. We brought in too many players in the past, but now were remedying that' Clever c***, wasn't he?

I think it may be worth providing another view of the circumstances that occured, that meant we couldn't pay our debts when they came due. Is it only me that thinks the unrational anti-Lowe brigade are completely forgetting the period when Lowe wasn't Chairman and that faction, were falling over themselves to support Wilde and his promises of investment. A "Wilde" spending spree to attempt an immediate return to the Premiership, taking the club from solvency, when the lunatic fringe got their way and believed his bull sh!t, to an insolvent hangover, which was worse than any that Burley had from and into which pit, for some unkown reason, Lowe jumped. Lowe's main mistake was to return and that was a purely ego driven misjudgement. Wilde and his motley crew of "local" businessmen caused the administration, end of...

Trusty EBay may be your only choice. Take a look at these.

A bit quick off the mark, I think... ...the dream is alive...

You are talking out of your putrid skate @rse. Read these replies from our fans, when we learnt of our administration and 10 point penalty on this thread. We took it on the chin, you whiney pr !ck...

I must admit, we could be twins...

Wedding ceremony at the Green Man, honeymoon in the Championship. Simple really...

You see, I was thinking about that. The problem is that it is far worse to have some cr@ ppy trip booked for that weekend and miss the party than to plan for it and it not to happen. F**k, I want it so much...

...and with that in mind, I have already blocked the weekend off and have started to make preparations. Being on a Saturday, it'll be best to get settled in a (5 star) London hotel on the Friday night. Following the inevitable victory, staying the Saturday night will be a necessity. Brunch on Sunday and a lazy trip back, dreaming of a trip in 2010/2011 to Fratton to spank the cheating matelots and repeat it at St. Mary's for good measure. I have to be honest, I'm getting a hard on just thinking about it... ...good as the Johnson's Paint Trophy party was, I think this will be the time to go large...very large... ...and if not, an outright promotion the following season...

Nor did I...

The genius that Chanrai hired as an administrator has informed the Portsmouth Supporters Trust of the level of debts and I quote: 2. What is the size of the debt? Total debt now £100m, broken down as:- £22m Football Creditors, £32m Gaydamak Trust, £5m Suliman Al Fahim, £18m Al Faraj, £5m General eg local traders, £17-18m HMRC (although £9m of this is disputed vat payment), £16-17m Football Creditors, £14m approx Portpin, £8-9m Football Agents. Those economists amongst us may be able to spot the minor mathematical error, i.e. the above figures add up to around £138M. Read more from the Q & A session here. The guys a buffoon and the Pompey Trust lapped it up... ....seat on the board, anyone?

Although this thread has been diverting fun for those of us that sometimes have nothing better to do, does anyone else feel like I do? I have zero feelings for Portsmouth Football Club. They disappeared during my trip to Fratton Park at the time of the famous riot, when I could see first hand where mindless, misdirected passion takes you. From middle aged men keeping hold of the ball for throw-ins, whilst screaming obscenities at our players to 10 year old "fans" throwing stones at the police and trashing their own neighbourhood, it didn't take a genius to see how close to the middle ages a "civilised" group could get. Whether Portsmouth recover and rebound or sink and cease to exist, it will not affect in the slightest my life, with respect to football. Blind hatred usually takes you in one direction and not the direction that we find ourselves in. This thread is like a quick glance over to the other side of the M27, on the way out of Pompey, looking at a car crash. Morbidly interesting at first, but when arriving back in God's country, you find it involved a prison van full of peodophiles and any sympathy disappears, to be replaced by "Who gives a sh !t as long as no one else got badly hurt"...

I am a stupid ****... ...sorry about that. Thoughtless post whilst under the influence...

Let's see just how many Saints fans give a sh !t about this... ...10 years ago, you zeroes would have been forced the rely on a copy of the Pink, sent over by your Mum, for match highlights. You left for the money/weather. Live with the consequences...

It looks like a number of Pompey players will be taking an early summer break, according to this article. It is one of the most extraordinary and bizarre scenarios ever to confront an FA Cup semi-final team. Andronikou added: "This affects five or six players who will not be allowed to play after the semi-final, and one who might not be allowed to play in the semi-final. "This all revolves around clauses in their current contracts which mean that the semi-final triggers a set number of games that either means the player is entitled, automatically, to have his contract renewed for next season, or that it triggers a variety of cash payments ranging from £100,000 to £50,000. "So, if a player plays at Wembley he would trigger a new contract the club cannot afford, or if he reaches 20 or 25 games, it triggers cash payments, some of £100,000. These bullet payments means that they can play in the semi-final, but not play another game after it, unless they waiver those payments."

As has the RoE in the US military since that video was taken...

HTH

Rob Lloyd the proposed new owner of Portsmouth City Football Club has made his first television interview since his bid for the club was accepted by the administrator. Speaking to Sky Sports News, Mr. Lloyd was asked what his background is and who was behind his consortium. He told the programme... 'I was trained by Xerox, many many many years ago. I'm a business strategist, many people say I'm a photocopying salesman, which I always find quite amusing.' 'I actually have been in the past,been heavily involved in the fitting out of Southampton football club stadium. Obviously I have an IT background, sales background, but also I have had involvement at Southampton Academy and scouting for many, many years.' 'To give you an instance I was involved in the scouting of Adam Lallana from Bournemouth sadly, to Southampton.' 'I have many, many contacts in football, I have many contacts abroad as well, in American MLS football as well as in Dubai.' 'So it's a mixture of many many things, all put together with a vision for a football club and we are going to drop the blueprint into here, but all will be revealed.' When asked if it was his money he was investing in Portsmouth City Football Club, Lloyd smiled and said... 'It is a consortium' When pushed on who is in the consortium, he added... 'That is, something that really and honestly will never be answered properly and completely, but the truth of the matter is, there will be answers to that to an extent in tomorrow's (Wednesday) press conference.' :smt043

I really don't find the video that surprising, in the circumstances in Iraq back in 2007. Neither do I find it surprising that there is a simultaneous outpouring of anti-American, anti-war, anti-military and self righteous indignation on this site. When terrorism hit our capital in 2005, our metropolitan police force had a shoot to kill practice which led to the Jean Charles de Menezes killing. The US hardly has a monopoly on trigger happy killing of innocent civilians. Sh !t happens...

...was nearly a year ago, IMO. This article pins down the date that a group of nonentities, led by a Liverpool supporting dreamer, successfully damaged the reputation of a Saints legend, extracted £500K out of Lymington businessman and delayed the real takeover, so that the club had little time to prepare for the season ahead. So....if you're looking for a scapegoat, start in Locks Heath. PS, Mute your PC speakers, prior to opening the link.

You won't get an answer. He's out shopping with the missus...