trousers Posted 21 May, 2012 Share Posted 21 May, 2012 @solentsport: Hammers sign Pompey's Henderson: Goalkeeper Stephen Henderson signs a three-year contract with West Ham United http://t.co/RHSgFnHI Link to comment Share on other sites More sharing options...
pedg Posted 21 May, 2012 Share Posted 21 May, 2012 @solentsport: Hammers sign Pompey's Henderson: Goalkeeper Stephen Henderson signs a three-year contract with West Ham United http://t.co/RHSgFnHI One assumes they have already had most of the money for this? Link to comment Share on other sites More sharing options...
trousers Posted 21 May, 2012 Share Posted 21 May, 2012 One assumes they have already had most of the money for this? Your guess is as good as mine. You'd have thought so Link to comment Share on other sites More sharing options...
Alien Posted 21 May, 2012 Share Posted 21 May, 2012 Amazed at the number who have only posted once or twice. Quality over Quantity Link to comment Share on other sites More sharing options...
mack rill Posted 21 May, 2012 Share Posted 21 May, 2012 That's a surprise. Two more than Corp Ho. I'm undecided whether this is the biggest timewaster ever or the greatest entertainment in the history of mankind. Threads such as this should be preserved and put in a time capsule. Where shall we bury it? Lets hope you don't conveniently lose it like the statute thread Link to comment Share on other sites More sharing options...
edprice1984 Posted 21 May, 2012 Share Posted 21 May, 2012 @solentsport: Hammers sign Pompey's Henderson: Goalkeeper Stephen Henderson signs a three-year contract with West Ham United http://t.co/RHSgFnHI So Henderson goes to West Ham, Ashdown released...are they playing 'Rush Goalie' next season?? Knowing that lot though, I am sure Gianluigi Buffon will be signed on a 9 year £100,000 per week contract in a few weeks! Link to comment Share on other sites More sharing options...
mack rill Posted 21 May, 2012 Share Posted 21 May, 2012 I'm well p*ssed off by this ! I have followed the thread from the start and contributed regularly and only come in at position #68 (with at least 2 Skates ahead of me!)!! Including this post, I now have a total of 250, how in hell's name Trousers and D.Phil can get to 2000+ is well beyond my comprehension !! Professional Gloater's,simples, Link to comment Share on other sites More sharing options...
Matthew Le God Posted 21 May, 2012 Share Posted 21 May, 2012 Professional Gloater's,simples, Are you Lord Percy of Portsmouth? Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 21 May, 2012 Share Posted 21 May, 2012 Lets hope you don't conveniently lose it like the statute thread Do you mean like your club conveniently forgetting to pay Tax, bills, low paid staff and charities? D. F. C. S. Bs Link to comment Share on other sites More sharing options...
trousers Posted 21 May, 2012 Share Posted 21 May, 2012 Professional Gloater's,simples, Less of the professional allegation if you don't mind. My attempts to gloat are as unpaid as a CVA and thus strictly amateur.... Link to comment Share on other sites More sharing options...
um pahars Posted 21 May, 2012 Share Posted 21 May, 2012 recalling how every pre-season they steal money from creditors to have a summer holiday and claim it's been sponsored even though the accounts clearly indicate otherwise, it's nice to have some honesty from Appy. A couple of local businesses have sponsored it. The club will chip in as well, although I know money is a bit scarce. Pity the Club couldn't chip in to hand over the monies owing to charities!!! A trip abroad in their predicament and owing local and national charities is a disgrace. Complete and utter scum. Link to comment Share on other sites More sharing options...
suewhistle Posted 21 May, 2012 Share Posted 21 May, 2012 By the way Mack - serious question - have you pledged to the trust? I think we [the hall of fame/shame] probably have guessed that you're actually far too sensible to do so, but I reckon we'd all be interested to hear your reply. Second question: would you support a phoenix club? I wonder if Corp is lurking... Link to comment Share on other sites More sharing options...
eurosaint Posted 21 May, 2012 Share Posted 21 May, 2012 Pity the Club couldn't chip in to hand over the monies owing to charities!!! A trip abroad in their predicament and owing local and national charities is a disgrace. Complete and utter scum. You took the words right out of my mouth !! Link to comment Share on other sites More sharing options...
pedg Posted 21 May, 2012 Share Posted 21 May, 2012 So do we know when chainrai is going the reveal the generous sum of money for the CVA that he is going to give half to himself? Link to comment Share on other sites More sharing options...
krissyboy31 Posted 21 May, 2012 Share Posted 21 May, 2012 So chainrai has put a bid in, with Birch tell all what that bid entails at all? Will Chainrai keep hold of his secured status meaning that when he sells to another mug he will still have a hold or have the league prized that away from him? Anyone got a guess on the next comedy installment?When I read that I expected the theme tune from SOAP to come blaring out of my speakers. Link to comment Share on other sites More sharing options...
dubai_phil Posted 21 May, 2012 Share Posted 21 May, 2012 By the way Mack - serious question - have you pledged to the trust? I think we [the hall of fame/shame] probably have guessed that you're actually far too sensible to do so, but I reckon we'd all be interested to hear your reply. Second question: would you support a phoenix club? I wonder if Corp is lurking... To be fair to Mack & Mero they've already made their position on this clear Along with my Skate buddies from Salisbury who have hardly been to Nott Arf of late And really don't like the Link to comment Share on other sites More sharing options...
dubai_phil Posted 21 May, 2012 Share Posted 21 May, 2012 way this thread has gone the last couple of pages Link to comment Share on other sites More sharing options...
dubai_phil Posted 21 May, 2012 Share Posted 21 May, 2012 With people trying to overspend their annual 5 quid budget on upping their post count in random fashion Link to comment Share on other sites More sharing options...
Saint in Paradise Posted 21 May, 2012 Share Posted 21 May, 2012 Well spotted Sue but DD is not the only one by a long chalk. After reading the couple of posts above I rest my case Link to comment Share on other sites More sharing options...
mack rill Posted 21 May, 2012 Share Posted 21 May, 2012 By the way Mack - serious question - have you pledged to the trust? I think we [the hall of fame/shame] probably have guessed that you're actually far too sensible to do so, but I reckon we'd all be interested to hear your reply. Second question: would you support a phoenix club? I wonder if Corp is lurking... Lol I am a skate suewhistle but I'm not feckin stupid, You need some serious cash to run a club, not only that you need one boss not 1,000 just cant see it working. Question 2 at this moment in time i relay don't know, When your team is relegated for what ever reason you sort of fall out of love with football n need the summer brake to get it back. Phoenix club? just wouldn't be Pompey. Link to comment Share on other sites More sharing options...
Dark Munster Posted 22 May, 2012 Share Posted 22 May, 2012 i was top of that league but there are only so many times you can tell people Pompey will get away with it. It seems to me many on here can't accept that they bloody have. i dont care how they are supposedly suffering, but they are still alive and that is not justicePatience Nick, the plug will be pulled, but Chinny will make them suffer first. You know the old saying about the living envying the dead. Link to comment Share on other sites More sharing options...
Dark Munster Posted 22 May, 2012 Share Posted 22 May, 2012 Are you that bothered by post counts? I'd hope most people just post when they interested, have a question, something to say, are bored etc., but not to see a number on their profile go up. Why do post counts even exist? Remove or reset them all, might stop some from being so prolific if that's their reason. Bizarre if true. Mine are due to interest in the subject, boredom and time on my hands. Yet even then, as ridiculous as my post count is, the fact that plenty have more than double my own seems insane. It's like when you eat a sh1tload of food, look at a morbidly obese fcker and think 'christ, just how much must they eat?!' Gets calculator out ... 606*2 = 1212. Oh, oh, looks like Channon's Sideburns and higher are morbidly obese. Thank God I'm only moderately obese. Seriously, how did Trousers sneak past the golfer from the desert? Over 2000 posts, which would make him our own Mr. Creosote. Mind you, I'm not sure we should be counting some of those dodgy "..." posts of his. Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 Gets calculator out ... 606*2 = 1212. Oh, oh, looks like Channon's Sideburns and higher are morbidly obese. Thank God I'm only moderately obese. Seriously, how did Trousers sneak past the golfer from the desert? Over 2000 posts, which would make him our own Mr. Creosote. Mind you, I'm not sure we should be counting some of those dodgy "..." posts of his. ^ This Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 ... Link to comment Share on other sites More sharing options...
saintjay77 Posted 22 May, 2012 Share Posted 22 May, 2012 When I read that I expected the theme tune from SOAP to come blaring out of my speakers. Haha. I just read my own post back and had the start of The A-Team in my head I bet the skates wished they could call on The A-Team to get them out of this pickle. Lol Link to comment Share on other sites More sharing options...
Katalinic Posted 22 May, 2012 Share Posted 22 May, 2012 Found this on one of the skate's sites: In today's Daily Telegraph. A British financier – set on putting the pomp back in Pompey – was blocked from buying Portsmouth FC by major creditor Balram Chainrai. Former Goldman Sachsbanker–turned–venture capitalist Brett De Bank has spent the past few weeks in talks with the Hong Kong–based businessman at Park Lane's InterContinental. Not forgetting the odd meeting held by Chainrai in the casino. But De Bank, a Portsmouth University graduate and regular at Fratton Park, has walked away after Chainrai, or Balu as he likes to be called, demanded payment of £16m for the stadium (valued at £5m to £6m) and multi–million pound bonuses. With liquidation looming, Balu then made a bid to buy the collapsed club out of administration. He's offered a company voluntary arrangement of 2p in the pound to unsecured creditors, whereas De Bank had proposed more than 7p. My man in the Pompey shirt said: "Balu refused to take a haircut on his investment. He plans to sell players, buy cheaper ones and run the business on its bare necessities." Let's give old Balu the benefit of the doubt. Maybe he'll invest in the long–term future of the club? Maybe not. As his business partner, Levi Kushnir, said: "We would like to be out not later than three years" – just after the last Premier League parachute payment to Portsmouth. This thread has a few years left in it yet Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 22 May, 2012 Share Posted 22 May, 2012 The current roll of honour. http://www.saintsweb.co.uk/misc.php?do=whoposted&t=14620 Oh yes.... top 6.... I really should get some work done. Link to comment Share on other sites More sharing options...
hutch Posted 22 May, 2012 Share Posted 22 May, 2012 Wasn't it a consortium with Paigh de Taksis? Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 (edited) Found this on one of the skate's sites: In today's Daily Telegraph. A British financier – set on putting the pomp back in Pompey – was blocked from buying Portsmouth FC by major creditor Balram Chainrai. Former Goldman Sachsbanker–turned–venture capitalist Brett De Bank has spent the past few weeks in talks with the Hong Kong–based businessman at Park Lane's InterContinental. Not forgetting the odd meeting held by Chainrai in the casino. But De Bank, a Portsmouth University graduate and regular at Fratton Park, has walked away after Chainrai, or Balu as he likes to be called, demanded payment of £16m for the stadium (valued at £5m to £6m) and multi–million pound bonuses. With liquidation looming, Balu then made a bid to buy the collapsed club out of administration. He's offered a company voluntary arrangement of 2p in the pound to unsecured creditors, whereas De Bank had proposed more than 7p. My man in the Pompey shirt said: "Balu refused to take a haircut on his investment. He plans to sell players, buy cheaper ones and run the business on its bare necessities." Let's give old Balu the benefit of the doubt. Maybe he'll invest in the long–term future of the club? Maybe not. As his business partner, Levi Kushnir, said: "We would like to be out not later than three years" – just after the last Premier League parachute payment to Portsmouth. This thread has a few years left in it yet Why doesn't this De Bank geezer go straight to Birch with his 7p in the pound offer? Why go via Chainrai in the first place? I'm guessing that De Bank knows that Chainrai, as the majority creditor, has the veto over any alternative CVA offer and it would therefore be pointless going via the official administration route. Which begs the question why The Trust are even bothering either. I still can't understand how one of the creditors is able to derail the administration process at the drop of a hat. If Chainrai holds all the cards all along then what's the point of Birch? If Birch has no say in the outcome of CVA2 and Chainrai has the final say then hasn't the club just spent 4 months administration costs for nothing? The words 'vicious' and 'circle' spring to mind. Btw, does Chainrai have the power (legal or otherwise) to prevent Birch liquidating the club? Is that possibly the only 'control card' up Birch's sleeve? Edited 22 May, 2012 by trousers Link to comment Share on other sites More sharing options...
krissyboy31 Posted 22 May, 2012 Share Posted 22 May, 2012 Is Brett de Bank related to their previous owners Break de Bank?? Link to comment Share on other sites More sharing options...
bridge too far Posted 22 May, 2012 Share Posted 22 May, 2012 Is Brett de Bank related to their previous owners Break de Bank?? Very good Link to comment Share on other sites More sharing options...
andysstuff Posted 22 May, 2012 Share Posted 22 May, 2012 Found this on one of the skate's sites: In today's Daily Telegraph. A British financier – set on putting the pomp back in Pompey – was blocked from buying Portsmouth FC by major creditor Balram Chainrai. Former Goldman Sachsbanker–turned–venture capitalist Brett De Bank has spent the past few weeks in talks with the Hong Kong–based businessman at Park Lane's InterContinental. Not forgetting the odd meeting held by Chainrai in the casino. But De Bank, a Portsmouth University graduate and regular at Fratton Park, has walked away after Chainrai, or Balu as he likes to be called, demanded payment of £16m for the stadium (valued at £5m to £6m) and multi–million pound bonuses. With liquidation looming, Balu then made a bid to buy the collapsed club out of administration. He's offered a company voluntary arrangement of 2p in the pound to unsecured creditors, whereas De Bank had proposed more than 7p. My man in the Pompey shirt said: "Balu refused to take a haircut on his investment. He plans to sell players, buy cheaper ones and run the business on its bare necessities." Let's give old Balu the benefit of the doubt. Maybe he'll invest in the long–term future of the club? Maybe not. As his business partner, Levi Kushnir, said: "We would like to be out not later than three years" – just after the last Premier League parachute payment to Portsmouth. This thread has a few years left in it yet I honestly thought that was a made up article until I read it online! Link to comment Share on other sites More sharing options...
rallyboy Posted 22 May, 2012 Share Posted 22 May, 2012 Balu....'bare necessities'....very subtle. I think my fave was the South African Hans Zindertill. We weren't even sure if Cala was made up, especially when he presented his business plan. I miss Joe and his casinos - did he ever go to the stock exchange and float? Link to comment Share on other sites More sharing options...
ericofarabia Posted 22 May, 2012 Share Posted 22 May, 2012 I honestly thought that was a made up article until I read it online! Chainrai, or Balu as he likes to be called, My man in the Pompey shirt said: "Balu refused to take a haircut on his investment. He plans to sell players, buy cheaper ones and run the business on its bare necessities." http://www.youtube.com/watch?feature=player_detailpage&v=TcglnY_xGfc Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 For those asking over the last few pages about the voting rights of creditors of CVA1 in CVA2, it's pretty clear - they don't have any. They are due to be paid from the proceeds of the liquidation of OldCo (soon to be known as OldOldCo probably) which includes a payment from NewCo to the sum of £16.5m. This liquidation is being overseen by Baker Tilley. BT, representing OldCo, will have voting rights equal to £16.5m in any NewCo CVA proposal. If that proposal is, as suggested above, 2p in the pound, they'll be offered just £330000 of the £16500000 they are owed. If you were a creditor in CVA1 who was owed, say, £100000 prior to OldCo admin then you could now expect to receive the princely sum of £80 following CVA2. Minus expenses. Lovely. Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 I honestly thought that was a made up article until I read it online! Ah. But as evidence to the leveson enquiry has shown just because its in print does not stop it from being made up. Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 For those asking over the last few pages about the voting rights of creditors of CVA1 in CVA2, it's pretty clear - they don't have any. They are due to be paid from the proceeds of the liquidation of OldCo (soon to be known as OldOldCo probably) which includes a payment from NewCo to the sum of £16.5m. This liquidation is being overseen by Baker Tilley. BT, representing OldCo, will have voting rights equal to £16.5m in any NewCo CVA proposal. If that proposal is, as suggested above, 2p in the pound, they'll be offered just £330000 of the £16500000 they are owed. If you were a creditor in CVA1 who was owed, say, £100000 prior to OldCo admin then you could now expect to receive the princely sum of £80 following CVA2. Minus expenses. Lovely. I would guess that all creditors bar HMRC have given up on seeing anything from CVA1 and have probably already offset the loss against tax or similar. Question though is who does control the way that BT will vote on any new CVA? Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 BT should act in the best interests of the creditors of OldCo that they represent. HMRC are probably the biggest sole creditor in that bunch and almost certainly have the largest influence. Certainly BT would rather keep HMRC on side and risk the wrath of Terry the builder rather than the other way around... Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 Oh, and there's not a hope in hell that HMRC are not still out for Pompey blood. They will do anything they can to kill them. Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 Oh, and whichever Revenue man does finally get to paint the Pompey club crest on the nose of his Spitfire will definitely be looking for a promotion. Given that they've not had a pay rise in 2 years everyone's doing everything they can to get up a grade within the civil service. Link to comment Share on other sites More sharing options...
trousers Posted 22 May, 2012 Share Posted 22 May, 2012 For those asking over the last few pages about the voting rights of creditors of CVA1 in CVA2, it's pretty clear - they don't have any. They are due to be paid from the proceeds of the liquidation of OldCo (soon to be known as OldOldCo probably) which includes a payment from NewCo to the sum of £16.5m. This liquidation is being overseen by Baker Tilley. BT, representing OldCo, will have voting rights equal to £16.5m in any NewCo CVA proposal. If that proposal is, as suggested above, 2p in the pound, they'll be offered just £330000 of the £16500000 they are owed. If you were a creditor in CVA1 who was owed, say, £100000 prior to OldCo admin then you could now expect to receive the princely sum of £80 following CVA2. Minus expenses. Lovely. All of which makes the fact that the Football League are seemingly content with a meagre 10 point penalty for Admin1 a travesty. They never came out of Admin1 with a viable plan, hence Admin2, but the Football League rules are too blinkered to deal with failed CVAs. Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 BT should act in the best interests of the creditors of OldCo that they represent. HMRC are probably the biggest sole creditor in that bunch and almost certainly have the largest influence. Certainly BT would rather keep HMRC on side and risk the wrath of Terry the builder rather than the other way around... So they could decide themselves and no have to re-poll all the creditors they represent as to which way to vote? HMRC may be the biggest creditor but that did not stop the initial CVA being passed and I would expect many of the other creditors to accept just to get it over with! Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 If the total unsecured debt is indeed £40m, the £16.5m that BT/OldCo are owed is more than enough to block any CVA proposal. I don't see any mechanism by which BT can/need to go back to the creditors of OldCo, no. Link to comment Share on other sites More sharing options...
pedg Posted 22 May, 2012 Share Posted 22 May, 2012 If the total unsecured debt is indeed £40m, the £16.5m that BT/OldCo are owed is more than enough to block any CVA proposal. I don't see any mechanism by which BT can/need to go back to the creditors of OldCo, no. So if Chainrai proposes a CVA of 2p in the pound and BT/OldCo vote against what happens then? Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 Chanrai either puts a new offer to PKF which forms a new CVA proposal which is again put to creditors or walks away and awaits another buyer to do similar. Or PKF liquidate. Link to comment Share on other sites More sharing options...
Torres Posted 22 May, 2012 Share Posted 22 May, 2012 And don't forget that HMRC are also owed a few million quid by NewCo and will have the equivalent voting rights on the new CVA proposal that affords them. Link to comment Share on other sites More sharing options...
dronskisaint Posted 22 May, 2012 Share Posted 22 May, 2012 I honestly thought that was a made up article until I read it online! +1:p Link to comment Share on other sites More sharing options...
dubai_phil Posted 22 May, 2012 Share Posted 22 May, 2012 Why doesn't this De Bank geezer go straight to Birch with his 7p in the pound offer? Why go via Chainrai in the first place? I'm guessing that De Bank knows that Chainrai, as the majority creditor, has the veto over any alternative CVA offer and it would therefore be pointless going via the official administration route. Which begs the question why The Trust are even bothering either. I still can't understand how one of the creditors is able to derail the administration process at the drop of a hat. If Chainrai holds all the cards all along then what's the point of Birch? If Birch has no say in the outcome of CVA2 and Chainrai has the final say then hasn't the club just spent 4 months administration costs for nothing? The words 'vicious' and 'circle' spring to mind. Btw, does Chainrai have the power (legal or otherwise) to prevent Birch liquidating the club? Is that possibly the only 'control card' up Birch's sleeve? Of course Chinny could buy the club, but then "outsource the running of the club" or Franchise it. Pay a fee to him and get to make all the decisions you want in playing with the train set. And there will be a watertight contract that the Franchise fee (cash up front figure) will also include the exact same figure as the Parachute Payments. Win:win for everyone. Chinny eventually gets his money back and can still sell the ground out from under the Trust in 3 years time. The Trust get to pretend to run their own club, AND we get another 3 years of watching them struggle to play football every week with their legs tied together and with a one armed keeper as the fat finishes it's job in the bogs and the old clock falls off the roof and lands on TCWTB causing major brain trauma that doubles his IQ to 2. Sweet Link to comment Share on other sites More sharing options...
hutch Posted 22 May, 2012 Share Posted 22 May, 2012 (edited) If the total unsecured debt is indeed £40m, the £16.5m that BT/OldCo are owed is more than enough to block any CVA proposal. I don't see any mechanism by which BT can/need to go back to the creditors of OldCo, no. There was a Creditor's Committee in Admin1. Did that automatically fall away at the end of the administration, or does it remain until the CVA is satisfied? Edited 22 May, 2012 by hutch Link to comment Share on other sites More sharing options...
georgeweahscousin Posted 22 May, 2012 Share Posted 22 May, 2012 This has really turned things. The poor desperate Pompey fans had started to believe Chanrai was coming back for a third time with different intentions. Clearly not. Link to comment Share on other sites More sharing options...
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