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Pompey Takeover Saga


Fitzhugh Fella

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AA is also cleverly distancing himself from any insolvent trading charge by listing the directors and confirming that they are still pulling the strings, even if they aren't.

 

It did cross my mind that AA naming the directors was a deliberate act aimed at 'the authorities'. It seems like unnecessary detail to quote to a reporter otherwise....

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default_profile_5_normal.png David Brown @DavidhBrown

Milan #Mandaric told FA inquiry he opened Monaco bank acct. for Harry #Redknapp at centre of thr tax evasion trial. Posted by @timesnewsdesk

 

#Mandaric says $145,000 payment to #Redknapp Rosie45 account was "not a major part of me life" Posted by @timesnewsdesk

 

This contradicting what the person from HSBC said in that Mandaric introduced Arry but it was Arry that opened the account.

 

Also surely the prosecution can drive a coach and horses through the "investment" argument as no indication it was nothing more than a bank account and no sign any of the money transferred in was moved elsewhere for a considerable period.

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Why the fook should they be allowed to bring back those two from West Brom if they haven't paid their players under contract?

 

Dirty, thieving, cheating, fishy, insolvent b@stards.

 

WBA must be paying their wages in full, that can be the only explanation.

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I wonder how the utility companies , Police , outside suppliers are viewing the situation at present.

If any of you are council tax payers in the PO postcode areas I would be phoning up the town hall and asking that the council tax is paid to date and if not why are they not taking steps to get it.

 

It still sems to me that they are going to get away with it again, the press seem to love MM and HR the jury were laughing at the banter and so are warming to them. The prosecution seem to be useless and a statement like HR made about not being able to text, that could easily be found to be incorrect has been left to float away unchallenged. Where do they get these prosecution lawyers?? it seems they pull someone of the street who has watched one episode of Crown Court to do the job.

 

Good point.

 

How will they be able to pay their Electric Bills?

 

How long in the UK before they cut you off these days?

 

Hey, they've kept their fans in the dark for years so they'd feel at home playing with no floodlights

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I wonder how the utility companies , Police , outside suppliers are viewing the situation at present.

If any of you are council tax payers in the PO postcode areas I would be phoning up the town hall and asking that the council tax is paid to date and if not why are they not taking steps to get it.

 

I was thinking this, with the bank accounts frozen, can they still trade, will the police accept cash, will they be put on a pre paid key meter for the leccy ?

Their next home game is Hull other factors such as insurance will all surface soon...

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Good point.

 

How will they be able to pay their Electric Bills?

 

How long in the UK before they cut you off these days?

 

Hey, they've kept their fans in the dark for years so they'd feel at home playing with no floodlights

 

I used to work for the local leccy company and we didn't like cutting off socially needy people: for one thing it's bad publicity..

So we used to put in prepayment meters. :-) Now there's a scenario you all might like to imagine..

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I used to work for the local leccy company and we didn't like cutting off socially needy people: for one thing it's bad publicity..

So we used to put in prepayment meters. :-) Now there's a scenario you all might like to imagine..

 

You can see TCWTB & his mates doing a bucket collection amongst the mahoosive crowds to feed into the meter for the floodlights

 

Quick use of The Tardis and here's what they managed to get at the Hull game

 

bigpileofcash.jpg

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lets be realistic, they don't have the money for the wages and the tax, this month, nor for the next few months.

There is no way the CVA will get paid let alone started.

 

Their only opportunity to reduce costs and raise capital is a one day firesale tomorrow.

 

I think they need approx £15M to get to the summer.

The only person who could get that sort of amount paid in full tomorrow is Storrie who valued the squad at some mental level back in the day.

 

I would have some sympathy if -

a. they hadn't ignored the previous administration.

b. they hadn't ignored the previous transfer embargo.

c. they hadn't presented false documents to a court to sign players for our cup game.

d. the few didn't keep peddling ridiculous myths.

e. they had learned a single lesson from previous overspending.

f. they weren't still cheating.

g. they had been punished.

h. there were less inbreds following them.

i. someone with integrity had formed a new club to chase away the crooks that have raped the sport while wearing a blue shirt.

j. they hadn't been serial tax evaders.

k. they hadn't been owned and funded by child-maimers.

l. they hadn't been owned and funded by organised crime.

m. they hadn't taken the p1ss out of children's charities.

n. dirty Avram hadn't made his funny little speech.

o. they admitted they are neither plucky nor the bestest.

 

and finally, I might have some sympathy if they just stop blaming the league and the taxman for their own blatantly insolvent and criminal business practices.

They have been run by crooks and idiots and the fans have loved it - Wemberly, Wemberly etc - well now it's judgement day - is that 1-0 win over a bankrupt mid-table championship side still worth it?....

 

It's effing ridiculous, put the poor beast down, it's terminally sick and horribly diseased, show some mercy.

 

What an excellent summary, a golden post you could say. When its all over I expect we will have reached the full alphabet in both upper and lower case.

 

Legally they might like to try and disown OldCo, but the FL won't have that, and the Golden Share is more important than anything the high court says.

NewCo is useless without a league to play in.

 

 

They would need a shedload of parachute payment to make it to the summer, and the authorities have been keeping that back to pay football debts.

If pompey went pop and had been allowed to waste future staggered transfer fees and wages, there would be clubs and players up in arms.

The parachutes are a guarantee of payment for football creditors.

Can't see much of that being forwarded.

 

AA controls CSI, therefore AA controls pompey, therefore any parachute payment will be controlled by AA.

He could order Lampitt to pay it directly to Chanrai.

 

AA is also cleverly distancing himself from any insolvent trading charge by listing the directors and confirming that they are still pulling the strings, even if they aren't.

 

 

 

It might be time for Lampitt to walk away, while he still has a house to walk home to.

 

Either way, it MUST be firesale day today, anything else while insolvent would be bonkers and criminal.

 

The golden share will be the major sticking point. Chinny may think (as CSI alluded to "we are a debt free club") he can blow off the oldCo CVA by playing the loopholes of the law, but he must remember the FL is a members club and the skates do not have a legal right to a Golden Share. Blow off the CVA and kiss the Golden Share goodbye, exit CVA unsatisfactorily and you will be looking at a substantial points deduction.

 

golden-ticket-510.jpg

 

Former FA Head Of Integrity Lampitt is playing Russian roulette, Vlad and Roman must have really rubbed off on the guy...

 

I wonder how the utility companies , Police , outside suppliers are viewing the situation at present.

If any of you are council tax payers in the PO postcode areas I would be phoning up the town hall and asking that the council tax is paid to date and if not why are they not taking steps to get it.

 

It still sems to me that they are going to get away with it again, the press seem to love MM and HR the jury were laughing at the banter and so are warming to them. The prosecution seem to be useless and a statement like HR made about not being able to text, that could easily be found to be incorrect has been left to float away unchallenged. Where do they get these prosecution lawyers?? it seems they pull someone of the street who has watched one episode of Crown Court to do the job.

 

I agree in a way, its very frustrating hearing about Redknapp and Milan winking at the jury, smiling at each other and having a ball - whatever the outcome at least 'arry has been exposed for being the slimy lying crook we all knew he was after his I cant read/write/email/fax/text nonsense - every football fan in the country is cracking jokes about him and Rosie47, even those who have no interest in footy... a guy didnt even know his name the other day but had heard all about the dogs bank account in Monaco!

 

And HMRC have bigger fish to fry, the millions owed by pooey... COYHMRC

 

get-attachment.asp?action=view&attachmentid=722

 

 

 

 

 

Ive said it before and il say it again;

 

Moneyfields%20FC.gif

 

60442033.jpg

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From @Pearcesport on twitter:

 

 

Milan Mandaric began evidence today by clarifying point made yesterday. Redknapp's contract was worth £4.2 million over 3 years not 1 year

 

 

Mandaric told Court again that Rosie47 money was his + when Redknapp returned to Pompey in 2005 he reminded R he needed to pay it back

 

 

Mandaric is still being questioned by his own defence team. Cross examination will begin later

 

 

Mandaric says he has no yacht or private jet. "I lead normal life". He says he's put £20 million into Sheffield Wednesday so far

 

 

Mandaric told jury that when he sold Portsmouth he paid £100,000 into offshore account for Peter Storrie as thank you for finding buyer

 

 

Mandaric says charges "sad, unfair, insult to me, my family, my friends, + even some of supporters who know what kind of man chairman is"

 

 

Mandaric "When Harry gets something in his head he doesn't let go sometimes. It drives you crazy"

 

 

Mandaric says didn't want Redknapp to sign Crouch as he was "big, tall guy. Didn't look like a footballer". Told R that he would be useless

 

 

Cross examination of Mandaric has now begun

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Somebody posted the rules a few pages back. I beleive that the "club" is entitiled to the payments and as the club was bought by new co then they would come to them.

 

More interestingly though it stated something very similar to "Should the club cease to be a member of the football league then the payments are redistributed amoungst the other clubs".

 

Usually "no longer being a member of the football league" would happen when a club is promoted back to the PL. However... if P*mpey were to be liquidated I read it that all the other FL clubs would be due a share of the parachute payments.

 

It could therefore be argued that forwarding the payments to P*mpey outside of normal terms (and hence delaying the inevitable insolvency process) is unfairly depriving other clubs of income which would otherwise come to them?

 

Hmmm...

 

I took that to mean distributed amongst the other premier league clubs, or maybe the other ex-prem clubs receiving parachute payments. I can't see the PL just giving a handout to all the FL clubs.

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I took that to mean distributed amongst the other premier league clubs, or maybe the other ex-prem clubs receiving parachute payments. I can't see the PL just giving a handout to all the FL clubs.

 

They give it to the Championship clubs if a club with PPs gets back up to the Prem before they've run out. ( I think ).

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12:15

I have some Pompey latest for you. And it's a bit more positive...

12:15

We have been informed that Jason Pearce IS at Eastleigh but is having treatment, along with Rocha and Ben Haim, while Jamie Ashdown is in the gym

 

How funny. Surely "positive" should be something like "we've managed to sell some players, and bring in the money we desperately need"... as opposed to "phew, we're not selling"...

 

The News is just as complicit as the fans, the owners and everyone else involved...

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They give it to the Championship clubs if a club with PPs gets back up to the Prem before they've run out. ( I think ).

 

Didn't something similar happen with Birmingham a couple of seasons ago when they were promoted back up after one season?

Ah, I've found this: http://www.watfordfc.com/page/NewsDetail/0,,10400~2053777,00.html

 

It seems that there would be no extra money coming our way if they went under. :(

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They wont answer my question.

 

"If the validation order goes through, and the wages are paid would that not increase the debt to HMRC? Surely no court would allow us to increase the debt without paying the £800k first? "

 

Not sure how many of the comments on there are really but seems to be a few more willing the club to sell players to survive than usual.

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12:15

I have some Pompey latest for you. And it's a bit more positive...

12:15

We have been informed that Jason Pearce IS at Eastleigh but is having treatment, along with Rocha and Ben Haim, while Jamie Ashdown is in the gym

 

How funny. Surely "positive" should be something like "we've managed to sell some players, and bring in the money we desperately need"... as opposed to "phew, we're not selling"...

 

The News is just as complicit as the fans, the owners and everyone else involved...

 

I think the vast majority of skates just pretend it isn't happening and they will wake up in the morning and it has been a bad dream. I think it is called denial.

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They wont answer my question.

 

"If the validation order goes through, and the wages are paid would that not increase the debt to HMRC? Surely no court would allow us to increase the debt without paying the £800k first? "

 

Not sure how many of the comments on there are really but seems to be a few more willing the club to sell players to survive than usual.

 

I asked the same question and they haven't published mine either.

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They wont answer my question.

 

"If the validation order goes through, and the wages are paid would that not increase the debt to HMRC? Surely no court would allow us to increase the debt without paying the £800k first? "

 

 

They never answer specific questions about the various debts on these webchats.....can't think why.... ;-)

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'Many thanks for your email the points of which have been noted. The Football League is actively looking into the situation to obtain the information we need. We need to ensure that the decision is the right one and one that is able to withstand scrutiny therefore only when we have this information will we be able to make a decision with regards to a points deduction.

 

 

The regulations that were in place when Southampton FC was deducted 10 points are different to those that are in place now. The current regulation relating to this can be found at 12.3 of our regulations available on the website here: http://www.football-league.co.uk/regulations/20110629/section-3-the-league_2293633_2125717

 

 

 

Trading whilst insolvent is a matter of company law and for the directors of the club to determine how to proceed. The Football League are competition administrators and do not administer the club. That said any embargo we may place on a club has to operate in such a way that the club can field a team of players and the signing of Etuhu was linked to the transfer out of another player resulting in a significant cost saving whilst helping the club maintain a squad capable of fulfilling its fixtures.

 

 

 

Thank you for contacting The Football League.'

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Now, this is me....

 

Comment From Ian from Hayling

What would it take for the football league to dock us points. By not paying HMRC and the players on time, are we not falling foul of the FL rules?

 

Not sure I understand his answer though....is he agreeing that they should already be toast for not paying their tax bill?

 

"By not paying the HMRC, there is the very realistic scenario of liquidation. That's an absolute must, for me "

Edited by trousers
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'Many thanks for your email the points of which have been noted. The Football League is actively looking into the situation to obtain the information we need. We need to ensure that the decision is the right one and one that is able to withstand scrutiny therefore only when we have this information will we be able to make a decision with regards to a points deduction.

 

 

The regulations that were in place when Southampton FC was deducted 10 points are different to those that are in place now. The current regulation relating to this can be found at 12.3 of our regulations available on the website here: http://www.football-league.co.uk/regulations/20110629/section-3-the-league_2293633_2125717

 

 

 

Trading whilst insolvent is a matter of company law and for the directors of the club to determine how to proceed. The Football League are competition administrators and do not administer the club. That said any embargo we may place on a club has to operate in such a way that the club can field a team of players and the signing of Etuhu was linked to the transfer out of another player resulting in a significant cost saving whilst helping the club maintain a squad capable of fulfilling its fixtures.

 

 

 

Thank you for contacting The Football League.'

 

At least they bothered to answer rather than the generic reply.

 

1 thing though, the regulations at the time of our admin stated that there would be no penalty issued when it was the parent company that went into admin. Lord Malwindbag even confirmed this before bending the rules and whacking us with a points penalty anyway. So why the harsh treatment on us and the give them time approach for the Blew Phew?

 

Wonder if NC is monitoring all this at all? Any wrong move from the FL and NC could pipe up claiming we should get our points back or something. I bet Luton are keeping tabs on it too, the FL are on very shakey ground and the longer they give Pompey the more others should ask questions IMO.

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