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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella
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pedg

pedg

Posted
Posted

Looks like the latter of my options

 

From the News:

 

"The case has been adjourned for lunch. There will be more this afternoon and the case will continue tomorrow and the judgement will be on Thursday."

tony13579

tony13579

Posted
Posted (edited)

dan king news of the world wrote:

pompey image rights payments due last season 3.6m. Estimated profit on retail sales £337,00. so players paid 10x what right worth

 

tweeting from court @DanKing_NOTW

Edited by tony13579
Saint Lindford

Saint Lindford

Posted
Posted

[Comment From Rickymale88 Rickymale88 : ]

I believe we will be safe because they will give us some more time to come up with the funds..

 

Deluded fool..... Just where are the funds going to come from??

stevegrant

stevegrant

Posted
Posted
25% of debts?

£30m would, according to the figures on the official administrators report of the vote, represent only 22% of the total eligible to vote - somewhere in the region of £137m.

 

Which raises more interesting questions about the debt "bottoming out at £78m", and even the £124m including secured creditors from the original creditors report... :suspicious:

tony13579

tony13579

Posted
Posted (edited)

the news:

David:

The case has been adjourned for lunch. There will be more this afternoon and the case will continue tomorrow and the judgement will be on Thursday.

Matthew: We'll break for lunch as well. The case should resume at 2pm.
Edited by tony13579
Saint_clark

Saint_clark

Posted
Posted
£30m would, according to the figures on the official administrators report of the vote, represent only 22% of the total eligible to vote - somewhere in the region of £137m.

 

Which raises more interesting questions about the debt "bottoming out at £78m", and even the £124m including secured creditors from the original creditors report... :suspicious:

 

Well surely the "precise figures" is a huge factor in this court case then? Don't understand how HMRC can dismiss it like that.

Jimmy_D

Jimmy_D

Posted
Posted
Well surely the "precise figures" is a huge factor in this court case then? Don't understand how HMRC can dismiss it like that.

 

They're probably going to go after football debt being treated as unsecured debt to get themselves over the 75% mark.

pedg

pedg

Posted
Posted

If it gets down to a few fractions of a percent how much of the total owed is overdue image right's payments to players such as Sol Campbell as surely they should all go down to 60% of their current level on the grounds that 40% should be going in tax? i.e. rather than the club owing someone £1M in image right payments if HMRC win the point it would then be 600K owed to player and 400K to hmrc?

Whitey Grandad

Whitey Grandad

Posted
Posted
If it gets down to a few fractions of a percent how much of the total owed is overdue image right's payments to players such as Sol Campbell as surely they should all go down to 60% of their current level on the grounds that 40% should be going in tax? i.e. rather than the club owing someone £1M in image right payments if HMRC win the point it would then be 600K owed to player and 400K to hmrc?

 

Plus NI

pedg

pedg

Posted
Posted
Reading that, this £30m owed, seems to be what they think they have cheated HMRC out of via the image rights con since 2006, so is this in ADDITION to what they are already owed?

 

I don't think so as this refers to 2006 to date so only 4 years which, if all the 30M was image rights tax mean that the total image rights bill in that time would have been £75M.

pedg

pedg

Posted
Posted

What's confusing me here a bit is how the 30M figure from HMRC fits in with the total they claimed at the CVA meeting, which was higher (was it about 35?).

pedg

pedg

Posted
Posted
So without reading through the last few pages, What are the likely outcomes for Thursday?

 

Still got 1.5 days of court action to get through yet.

pedg

pedg

Posted
Posted

AA is there!!.. From Dan Roan twitter

 

"Afternoon session starts. Andronikou arrives at High Court - Gregory Mitchell QC says he'll finish argument for HMRC by 1530."

tony13579

tony13579

Posted
Posted

The news wrote:

Chris: Club administrator Andrew Andronikou has now taken his place among Pompey's legal team as the afternoon session kicks off with more legal arguments.
Shrek

Shrek

Posted
Posted
AA is there!!.. From Dan Roan twitter

 

"Afternoon session starts. Andronikou arrives at High Court - Gregory Mitchell QC says he'll finish argument for HMRC by 1530."

 

So AA's in the house. Looks like he was holidaying in London all along :D

OldNick

OldNick

Posted
Posted
So AA's in the house. Looks like he was holidaying in London all along :D

 

apparently he was on Talksport yesterday crowing how that the HMRC had little to go on and he was confident that Pompey would win

pedg

pedg

Posted
Posted
Tying up the Tal Ben Haim deal with West Ham

.

 

I assume that though that may get a high earner off the payroll it does mean another player leaving with no money coming in for them.

gaz

gaz

Posted
Posted

''Chris:

Mr Mitchell went on to criticise another 'sham' he alleged Pompey used to avoid paying tax.

This concerned money paid into players' employment benefit trusts in what he described as 'tax havens'.

He said: 'The Revenue says these are disguised payments of salaries on which PAYE should have been paid.' ''

Matthew Le God

Matthew Le God

Posted
Posted

Here is a new one...

 

Mr Mitchell went on to criticise another 'sham' he alleged Pompey used to avoid paying tax.

This concerned money paid into players' employment benefit trusts in what he described as 'tax havens'.

He said: 'The Revenue says these are disguised payments of salaries on which PAYE should have been paid.'

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