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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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Katalinic

Katalinic

Posted
Posted (edited)

Brilliant - just got up and read the last 3 pages. The window behind Day 13 of the PDT Advent Calendar is the best yet.

Edited by Katalinic
trousers

trousers

Posted
Posted

Exciting stuff....

 

@pn_neil_allen: Just been wished good luck and waved off by my #Pompey supporting neighbour. Portpin, that is what this club means to people.

Danbert

Danbert

Posted
Posted
@NabilHassan79: Just to clarify, PKF have requested adjournment, up to the Judge to grant it tomorrow at 10.30am. Portpin ready to proceed

 

I think this strongly suggests that the problem is that there simply aren't anything like enough pledges in place to make the PST bid a goer.

TopGun

TopGun

Posted
Posted
Exciting stuff....

 

@pn_neil_allen: Just been wished good luck and waved off by my #Pompey supporting neighbour. Portpin, that is what this club means to people.

 

Mr Allen's going to be in a spot of bother if Portpin make a comeback.

trousers

trousers

Posted
Posted
Mr Allen's going to be in a spot of bother if Portpin make a comeback.

 

They all have the memory span of a goldfish down there so no one will remember who said what and when...

trousers

trousers

Posted
Posted
I think this strongly suggests that the problem is that there simply aren't anything like enough pledges in place to make the PST bid a goer.

 

Whilst that's true, I don't see that being a reason to pull the court case. All PKF are asking the judge to do is agree with the Trust's valuation of the ground. Actually being able to afford to pay that valuation is the next step, not this one.

 

To me it smacks of PKF getting wind of some Portpin 'evidence' which puts into doubt the valuation he's fighting for...

PhilippineSaint

PhilippineSaint

Posted
Posted
Whilst that's true, I don't see that being a reason to pull the court case. All PKF are asking the judge to do is agree with the Trust's valuation of the ground. Actually being able to afford to pay that valuation is the next step, not this one.

 

To me it smacks of PKF getting wind of some Portpin 'evidence' which puts into doubt the valuation he's fighting for...

 

Something like a firm offer from a retail outfit of 6 Million for the place ?

pedg

pedg

Posted
Posted
Mr Allen's going to be in a spot of bother if Portpin make a comeback.

 

Stay warm in the current cold snap by burning your bridges!

rallyboy

rallyboy

Posted
Posted

we moved pretty quickly from the tubthumping 'Chanrai knows the game is up and has had to settle' to 'PKF have realised that their case is falling apart'.

 

Perhaps the truth is somewhere in between, but closer to the latter!

 

The court won't be interested in some random bloke in the public gallery spouting off about what he could do if appointed administrator, surely any Portpin gripe with Birch is irrelevant to the land case?

Ditto Birch and the Trust funding.

He doesn't care how much they've got, his job is to deliver the ground for £2.75M - it's up to them after that.

 

If he gets his adjournment then I reckon the PDT deadline for being in full control of the club before Christmas might be getting a little bit tight...:o

 

 

But on a brighter note, plenty more fees draining out of plucky Guy's promotion warchest.

Trev's family will do alright on Christmas day - I bet he kept himself one of those blue Santa suits - yes kids, pompey paid for all of this!

Anyone for more swan?

dvaughanwilliams

dvaughanwilliams

Posted
Posted

So, it looks like Chinny wasn't going to contest the case based on valuation, but based on whether it is right for the administrator to make the sale out form under his charge at all. If he can go to court and demonstrate that his offer for the club is substantially the same as the PDT, why does the sale need to be made at all, at any valuation?

 

If he can show that his bid has not been treated fairly and that the PDT bid offers creditors nothing better than his bid, I don't see what PKF/PDT can say against this. Now, if Chinny had failed the Owners and Directors test, then his case doesn't stand up. Given that PKF have requested the adjournment, it seems that they don't have an answer.

rooney

rooney

Posted
Posted

Argyle Supporters did not think much of Guilfoyle when he handled the Administration down at Plymouth. He gave exclusivity rights to the Chairman of Truro FC whom the world and his wife knew did not have the wherewithall to purchase. I believe Guilfoyle had to refund some of his admin. fees.

Ken Tone

Ken Tone

Posted
Posted
Ok I am beyond lost now - how can Baloo dictate who is admin when Birch was appointed by a judge?

 

He can't. Though he could go to the (different) court and claim as a creditor that PKF are failing in their duties as administrators, and ask for a different one to be appointed, giving Guilfoyle as an example of "one I've prepared earlier". At the moment he appears to be simply followong the Goebbels approach to p.r., in the same way as the trust have.

 

By 'eck it's fun though, ain't it fellow nutjobs?

Gorgiesaint

Gorgiesaint

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Posted
When PKF ask for an adjournment do they have to do so in front of the court and do they have to give a reason?

 

They certainly will need to give the judge the reason for wanting an adjournment, but I reckon this won't be done in open court - i.e. no-one bar the judge and legal teams will be there so the public won't necessarily find out the reason.

dubai_phil

dubai_phil

Posted
Posted

Cannot understand how thick TB has been here. He went with emotion. The only bid self imposed deadlines. Then refused to talk to anyone else. ALL Chinny needs in court to destroy PKF & maybe get the fees back is correspondence between a bidder & Chinny and phone logs. Naive arrogance maybe but could be he in real trouble

 

Sent from my HTC One X using Tapatalk 2

Danbert

Danbert

Posted
Posted
Whilst that's true, I don't see that being a reason to pull the court case. All PKF are asking the judge to do is agree with the Trust's valuation of the ground. Actually being able to afford to pay that valuation is the next step, not this one.

 

To me it smacks of PKF getting wind of some Portpin 'evidence' which puts into doubt the valuation he's fighting for...

 

You may well be right but, I think the number of pledges would have a bearing - the PST made a big deal about the fact that they needed people to make their 1000 pound donation prior to the court case, it is after all the PST which will be buying the thing in order to run the club.

TopGun

TopGun

Posted
Posted
Cannot understand how thick TB has been here. He went with emotion. The only bid self imposed deadlines. Then refused to talk to anyone else. ALL Chinny needs in court to destroy PKF & maybe get the fees back is correspondence between a bidder & Chinny and phone logs. Naive arrogance maybe but could be he in real trouble

 

Sent from my HTC One X using Tapatalk 2

 

Went native under pressure. To the detriment of PKF and the PST.

PhilippineSaint

PhilippineSaint

Posted
Posted
You may well be right but, I think the number of pledges would have a bearing - the PST made a big deal about the fact that they needed people to make their 1000 pound donation prior to the court case, it is after all the PST which will be buying the thing in order to run the club.

 

I think you will find it is one of the Property developers that will buy the ground and are using the PST as an excuse to get it as low as possible. they will then rent it to the untrustworthy at an extortionate amount after the first three years therefore allowing the trust to go tits up again and them being able to re-develope some real estate.

trousers

trousers

Posted
Posted

@pn_neil_allen: Trevor Birch has now also turned up. Separately to Portpin. #Pompey

 

What, really? You mean they didn't share a taxi, them being best buddies and all that...? :facepalm:

fanimal

fanimal

Posted
Posted

Proably as simple as the PST Valuer is not prepared to stand up in Court and swear the oath! So, the 4 or 5 of us who were proposing to meet at the George shall we decide when the situation is clearer later today/tomorrow morning?

trousers

trousers

Posted
Posted

@pn_neil_allen: Spoken to PKF spokesman. Lips are still sealed on details. An adjournment will be asked for. Portpin would have to agree though. #Pompey

 

Good luck with getting Portpin's buy in... :lol:

suewhistle

suewhistle

Posted
Posted

Just off out to do some food shopping. Back later for more laughs; I wonder what page we'll be on...

 

Lile so many (!) I haven't a clue what's going on, but I've a feeling the pot is going to boil over...

Gruffalo

Gruffalo

Posted
Posted

‏@NabilHassan79: Sat inside court 17 at the High Court, Trevor Birch here from administrator's PKF. Deepak Chainrai here on behalf of brother Balram.

 

MichealJacksonPopcorn.gif

Clapham Saint

Clapham Saint

Posted
Posted
He can't. Though he could go to the (different) court and claim as a creditor that PKF are failing in their duties as administrators, and ask for a different one to be appointed, giving Guilfoyle as an example of "one I've prepared earlier". At the moment he appears to be simply followong the Goebbels approach to p.r., in the same way as the trust have.

 

By 'eck it's fun though, ain't it fellow nutjobs?

 

This.

 

I'm looking forward to hearing Portpins argument as to why TB has failed in his duties.

Minty

Minty

Posted
Posted
@pn_neil_allen: Some members of @SOSPompey have just turned up. A rude word from @CarlSpangled was said towards Mr Kushnir. #Pompey

 

Classy as ever...

 

10 nutjob points if you can guess what the rude word was...

 

I reckon it was 'bum'.

hutch

hutch

Posted
Posted
If they do get it adjourned surely it will be after January? Means they stay on the month to month contracts so league two is almost a certainty.

Only until the parachute payment they received in August runs out.

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