Weston Saint

It did cross my mind

H e says it is from the same source that told him Redknapp was going to Spurs so a track record. I emphasize though.....only rumour at the moment. I am trying to check out other sources.

Friend of mine, a pompey season ticket holder has said there is a massive rumour of the Guardian breaking a big story in the next 48 hours. May involve money laundering.

Wigan....a team higher in the league than you on merit. Get it in your blue skull you are bottom of the league for one reason only and that despite cheating the tax man and consequently all of us who dutyfully pay tax. Go find another forum

Another lie to the courts then. He told the judge they had funding. HMRC & Judge asked for better evidence than a signed note from Chainrai. Seems to me the Administrator, by various actions and comments in the last few days, knows that Chainrai did not have the power to put them into Administration and that Chainrai is not likely to fund without that status. It gets worse for the blue few but nothing more than we have been saying on here for a while now

Solent reporting the Administrator may delay redundancies until after the next court hearing. The Administrators confidence is slipping fast

OK prediction time. PFC go back to court but admit Chainrai is not a secure creditor because he loaned the money to Falcondrome. Court ask if funds will still be available to continue administration but the Administrator admits he has no idea and without, PFC cannot continue to trade. They are wound up. Alternatively the Administrator confirms that the PL have agreed to release parachute payments which garantees the club can continue to May. Court allow the Administrator to continue. PL impose the 9 points penalty. That means almost certain relegation at the end of the season. End of the season arrives. Loanee's go back to their clubs. Certain players out of contract leave and other high earners are put up for sale. New owners are found..the SA syndicate who purchace the remains of the club for £20m and that money is used to pay off creditors. HMRC are an unsecure creditor and have at least 25% interest. They refuse to agree CVA. New owners pay off the remainder of the football creditors and then appraoch FA for return of "golden share" which is granted subject to 15 point penalty. So PFC start a new season in the Championship with -15, no parachute payment to rely on and owners who have used most of their investment capital already so do not have major funds to release but will rely on "championship players" and a few young Premier loanee's. (Why would they bother to purchase in the first place!!) Every chance that PFC will fail to avoid a second relegation. This is not a dream or a hope. This is a real posibility

Not just yesterday. Bales form has returned since he was put in midfield.

LB? He is not a left back. Surely Spurs are using him as left of midfield!

Good post and a view I entirely support.

Never forget "empty vessels make most noise" Certainly applies to many Pompey fans don't you think

I know, I was standing close by in the Robin Smith

Looks like it will not be Katich. He has had no contact. Club are now saying they are close to signing a quality spinner for championship games. Also a player for T20. Could it be Brett Lee??? He has now retired from Tests and Bransgrove and he are good friends. Shane Bond says no approach for him. Expected to finalise this weekend and unveil on Monday

I suspect they were paid out of the residue transfer payments for the two who left for Stoke & Spurs

I suspect they were paid out of the residue transfer payments for the two who left for Stoke & Spurs

I would expect a diplomatic response to any Pardew staying question, something like this:- "Alan Pardew is a good Manager and was bought in to develop a team capable of challenging for the Premiership in a short time span. To do that you have to get out of this division. It was an understandably difficult start but Mr Leibherr has released funds to enable Mr Pardew to recruit the right coaching team and players. Recent results are very encouraging and if that progress continues Mr Pardew and the team will soon meet those challenges"

I would expect a diplomatic response to any Pardew staying question, something like this:- "Alan Pardew is a good Manager and was bought in to develop a team capable of challenging for the Premiership in a short time span. To do that you have to get out of this division. It was an understandably difficult start but Mr Leibherr has released funds to enable Mr Pardew to recruit the right coaching team and players. Recent results are very encouraging and if that progress continues Mr Pardew and the team will soon meet those challenges"

I think Digger has forgotten that the debencher, if there was one, was after the Winding up Order was filed and served.

As I understand it the football priority creditor rule will not apply if the club does go out of business. Football is not a preferred creditor within the rules of insolvency. The FA make it so within their "trading agreement" So football only gets the same % as HMRC. It is only when the club applies for it's "golden share" that the rule comes into force. The money to pay the remaining football debt is paid by the new owners. As I understand it HMRC argued that such money could have been held back by the buyers rather than included in the purchase and that was unfair. The court ruled that any new owner was paying for the business and that any other money paid to obtain a "golden share" was a present and future trading payment. That is what the HMRC are unhappy about but are unable to counter argue a strong enough case to get their way. That has been my interpretation. Football priority creditor rule is a red herring.

Come on guys, have a heart, can you blame them for not wanting to pay to see Pompey play. Those who are staying away must have been converted to civilisation

We had a good dinner though and we were both guests of another friend who paid.

Was speaking to a Pompey supporting friend of mine at a bar before dinner in Gosport last night. He seemed to think Pompey would be ok so I relayed to him what we all know. Watched his jaw drop as I came out with issues on ownership, alleged money movements and secure creditor issues. He now thinks they are toast

This quite amused me. First HMRC Counsel, an very experienced and highly regarded QC in this field asks questions about the clubs solvency at the original hearing and is proved to be right in doing so from the SOA. Now he is asking for evidence that Chainrai is a secure creditor. QC's of this level do not usually ask questions unless they are pretty sure of the answer. He will have looked at every part of the SoA and the fact that the party who produced it were then sidelined. I would say he has some certainty where his questioning in leading. Mr Administrator is a bit of a media whore isn't he.

I have seen nothing which suggests the court have granted HMRC's wish to examine Fuglars client account relating to PFC transactions. IF Chainrai was paid £2m out of that account in February is that in breach of the WUO against PFC? If the answer is yes Fuglars & Chainrai needs to get themselves off the hook. How do they do that? By saying it was not money from PFC but from Falcondrone. But then they will have admitted that the loan was to Falcondrone (which is what Ms Robbins said in her statement of affairs document) and that takes away Chainrai's secured creditor status.

The idea of "cup tied" is so you do not play in the competition for 2 teams. If they played for Pompey, were sold, and loaned back they will only still have played for Pompey. So no, they would not be cup tied