SaintBobby Posted 14 December, 2012 Share Posted 14 December, 2012 Hahahahaha Haaaahhhhhaaaahhhhhaaa MMMMMMMMMMMMMMMHAAHAHAHAHAHAHAHA Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 @pn_neil_allen: Judge's decision well received by Trust. Worst case scenario would new administrator appointed by Portpin and back to square one. #Pompey Link to comment Share on other sites More sharing options...
latter day saint Posted 14 December, 2012 Share Posted 14 December, 2012 is that it then ? i suppose that means Trevor gets to pocket enough to cover next christmas as well though Link to comment Share on other sites More sharing options...
FarehamRed Posted 14 December, 2012 Share Posted 14 December, 2012 Agonising Xmas for the few. Can't see this helping with those pledges. Shame. ;-) Link to comment Share on other sites More sharing options...
Minty Posted 14 December, 2012 Share Posted 14 December, 2012 They must have the best pelvic floor muscles in the world down there, what with all these anti-climaxes... Link to comment Share on other sites More sharing options...
SO16_Saint Posted 14 December, 2012 Share Posted 14 December, 2012 What the hell? I have absolutely NO idea what is going in any more Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Neil Allen @pn_neil_allen Judge’s decision well received by Trust. Worst case scenario would new administrator appointed by Portpin and back to square one. Link to comment Share on other sites More sharing options...
hypochondriac Posted 14 December, 2012 Share Posted 14 December, 2012 Neil Allen @pn_neil_allen Judge’s decision well received by Trust. Worst case scenario would new administrator appointed by Portpin and back to square one. Eh? Link to comment Share on other sites More sharing options...
Gingeletiss Posted 14 December, 2012 Share Posted 14 December, 2012 POL goons not best pleased with today's turn of events. Paying PKF £900 an hour for another month? I'll have some of that Link to comment Share on other sites More sharing options...
hypochondriac Posted 14 December, 2012 Share Posted 14 December, 2012 According to Mike this great news. I fail to see how... Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Trevor Birch must love working with the PDT. They're so desperate that they'll pander to his every whim, stretch the whole takeover out for as long as possible, let him keep clocking up those charges; and they're still happy with him!! Money for old rope, and Tricky Trev is milking it for all it's worth. So, January 15th court date. Even if PKF win it'll take a while longer for the takeover to go through and for the league to ratify it all. By which time the transfer window has nearly closed. Ho ho ho. Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Dan Brett @DanBrett90 It won't seem like it now, but a big win for #Pompey today - PKF to continue as administrators, rather than Portpin's option of Guilfoyle. :lol: Massive win!!!!! Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 Anyone else thinking that PKF are simply dragging this out until the next parachute payments arrive...? Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Micah Hall @blueballoo2000 Great news about the adjournment - we'll do this now - you bet! Link to comment Share on other sites More sharing options...
andysstuff Posted 14 December, 2012 Share Posted 14 December, 2012 I'm told by a journo mate that REL (who were effectively going to bankroll the purchase of Fatpipes Park) have developed colder feet than a shoeless eskimo after learning how few pledges have been converted. REL realise they are potentially in it for far more than they realised, are - at the very least - unlikely to see a profitable return on their investment, and are desperately trying to pull out quicker than an over-excited Avram without protection. That was the reason for yesterday's delay, apparently, so it will be interesting to see how that is dealt with. Sounds plausable Link to comment Share on other sites More sharing options...
Matthew Le God Posted 14 December, 2012 Share Posted 14 December, 2012 How to break this news to the woman of Portsmouth... January sales at Gunwharf Quays after an expensive Christmas in a recession vs giving £1000 to a 3x failed football club Its a toughie...! Link to comment Share on other sites More sharing options...
dvaughanwilliams Posted 14 December, 2012 Share Posted 14 December, 2012 All I'm seeing is a chicken and egg situation continuing over the next 28 days if an extension is granted without resolving the FP valuation issue. If the judge says: "It's worth what the Trust claim it's worth" then the Trust know that they can use the 28 days to consolidate their position, whereas if the judge says: "No, it's worth significantly more than the Trust claim" the Trust can use the next 28 days to either throw in the towel (because they know they'll never meet the valuation) or try to raise the extra cash (yes, I know....daft notion). I just can't see what's stopping the judge declaring TODAY what he thinks the value of FP is if a football club called Portsmouth carries on playing there.... My point would be that the judge couldn't rubber stamp a sale to a buyer who didn't have the money. The case doesn't set a value and then wait for a potential buyer to roll in. PKF needed to turn up to the court, ask permission to make a sale to a particular buyer and to get authority to make the sale. If the money isn't there, the court can't make a hypothetical valuation. Which sounds better: trust is bust or trust is toast? Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 @pn_neil_allen: Farmery; 'It buys us a bit of time. Long road to get this far, extra day or month to get right result it's well spent'. #Pompey Can someone kindly remind me just how long they've had to "get it right" so far...? Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Anyone else thinking that PKF are simply dragging this out until the next parachute payments arrive...? I've always thought that. I said back in September that I couldn't see a takeover going through before Xmas. I'm thinking before the end of the season might be optimistic at this rate. Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Neil Allen@pn_neil_allen As it is, around a month for Trust to iron out issues raised by PKF before returning approx January 15. In other words, around a month to find some other mug who'll part with £2.75M and gift the PDT with a football ground. Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 I've always thought that. I said back in September that I couldn't see a takeover going through before Xmas. I'm thinking before the end of the season might be optimistic at this rate. Not forgetting that PKF recently got taken over (or merged?) with another insolvency firm....I'm sure they would have looked at the amount of fees that PKF have racked up and set their sights on the next big wodge of income.... Link to comment Share on other sites More sharing options...
FloridaMarlin Posted 14 December, 2012 Share Posted 14 December, 2012 @pn_neil_allen: Farmery; 'It buys us a bit of time. Long road to get this far, extra day or month to get right result it's well spent'. #Pompey Can someone kindly remind me just how long they've had to "get it right" so far...? Why would they need to buy a bit of time? Er...see my previous post. Link to comment Share on other sites More sharing options...
SO16_Saint Posted 14 December, 2012 Share Posted 14 December, 2012 PST, PDT, PKF, REL - there's more TLA's on this thread than in the Army! Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 Neil Allen@pn_neil_allen As it is, around a month for Trust to iron out issues raised by PKF before returning approx January 15. In other words, around a month to find some other mug who'll part with £2.75M and gift the PDT with a football ground. But that's the thing..... after today no one is any the wiser as to whether the judge will ratify the Trust's £2.75m valuation....so they could spend the next 28 days finding the aforementioned mug only to be told by the judge that he's not prepared to wave through the Trust's valuation.....all seems a bit cart before horse to me... Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 Micah Hall @blueballoo2000 Great news about the adjournment - we'll do this now - you bet! Link to comment Share on other sites More sharing options...
hypochondriac Posted 14 December, 2012 Share Posted 14 December, 2012 @pn_neil_allen: Farmery; 'It buys us a bit of time. Long road to get this far, extra day or month to get right result it's well spent'. #Pompey Can someone kindly remind me just how long they've had to "get it right" so far...? Extra day or month or year or decade. Link to comment Share on other sites More sharing options...
Guan 2.0 Posted 14 December, 2012 Share Posted 14 December, 2012 I thought this was just a rubber-stamping exercise? #confused Link to comment Share on other sites More sharing options...
hypochondriac Posted 14 December, 2012 Share Posted 14 December, 2012 I thought this was just a rubber-stamping exercise? #confused Lol Link to comment Share on other sites More sharing options...
bridge too far Posted 14 December, 2012 Share Posted 14 December, 2012 I wouldn't have thought they had much money left to buy time. Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 My point would be that the judge couldn't rubber stamp a sale to a buyer who didn't have the money. The case doesn't set a value and then wait for a potential buyer to roll in. PKF needed to turn up to the court, ask permission to make a sale to a particular buyer and to get authority to make the sale. If the money isn't there, the court can't make a hypothetical valuation. So, the Trust could spend another 28 days sorting out the funding for a £2.75m purchase only for the judge to turn around and tell them they've been wasting their time because he doesn't agree with their valuation? All sounds a bit bonkers to me (but there again, this is the legal system we are dealing with here!) Link to comment Share on other sites More sharing options...
TopGun Posted 14 December, 2012 Share Posted 14 December, 2012 Despite PST claims of a good result it's a far cry from their statements a few days ago that they would win today and get rid of chainrai. Link to comment Share on other sites More sharing options...
dvaughanwilliams Posted 14 December, 2012 Share Posted 14 December, 2012 I have no idea why the trust are celebrating this decision. At best it is *only* a PR disaster. It has made all parties look amateurish. If the developer's change in terms is only an increase in the "peppercorn" rent, that completely ruins the trust's business plan. If he's pulled out completely, they're dead in the water. Link to comment Share on other sites More sharing options...
Clapham Saint Posted 14 December, 2012 Share Posted 14 December, 2012 Micah Hall @blueballoo2000 The fight back starts here. The pst have overcome every obstacle - even yesterday's curveball. If you consider showing up at court having been left out of the loop by every other interested party and then going home without really having any idea what is going on as "overcoming" then yes. Um... well done. QUOTE=The Kraken;1554219]Dan Brett @DanBrett90 Trust are in doggish mood today - up for battle. Except for the fact that they are not involved in these proceedings and have no influence on the outcome what so ever... Link to comment Share on other sites More sharing options...
dvaughanwilliams Posted 14 December, 2012 Share Posted 14 December, 2012 So, the Trust could spend another 28 days sorting out the funding for a £2.75m purchase only for the judge to turn around and tell them they've been wasting their time because he doesn't agree with their valuation? All sounds a bit bonkers to me (but there again, this is the legal system we are dealing with here!) That is my understanding of the situation. The court can't make a decision in the abstract, only to confirm a deal that is ready to be implemented. Link to comment Share on other sites More sharing options...
St Marco Posted 14 December, 2012 Share Posted 14 December, 2012 Any other company and they would of been put down months ago. The only people that benefit from today are the admin team. They continue to rack up their fees for a further month and no doubt on that court day they will ask for even more time. Somebody needs to do the decent thing and take ol Blue behind the shead and end it once and for all.... However for us lot there is more fun to be had! Link to comment Share on other sites More sharing options...
Lazlo78 Posted 14 December, 2012 Share Posted 14 December, 2012 Masochists the lot, seeing that they are celebrating the extended agony! I would have thought that their first priority was to get this thing over with asap, but it appears not to be the case. Oh and Kraken: "love working with the PDT [...] pander to his every whim [...] stretch the whole [...] milking it for all it's worth" Is there a secret layer to your otherwise innocuous posting? Link to comment Share on other sites More sharing options...
Matthew Le God Posted 14 December, 2012 Share Posted 14 December, 2012 Nabil Hassan @NabilHassan79 Portpin say PKF have admitted mistake of overlooking a general 'floating charge'. Any idea on the implications of this? Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 @NabilHassan79: Ugly scenes outside High court with #pompey fans chanting "thieving bastards" at Deepak Chainrai and Brendon Guilfoyle. McInnes urging calm. Link to comment Share on other sites More sharing options...
Jimmy_D Posted 14 December, 2012 Share Posted 14 December, 2012 POL goons not best pleased with today's turn of events. Paying PKF £900 an hour for another month? I'll have some of that So at the very least, they need to convert one pledge every hour that Birch works between now and the rearranged court date, just to be able to turn up in exactly the same position they're in now... Link to comment Share on other sites More sharing options...
Clapham Saint Posted 14 December, 2012 Share Posted 14 December, 2012 The celebration of the adjournment just how little of the process Neil Allen et al understand of the process. The "win" for the PDT today was that Chinny's application to replace the administrator and restart the sale process was rejected. The adjournment itself is a pain in the **** as it means that yet more of their working capital is chipped away in administrators' and legal fees. It also means that should they be able to complete they will almost certainly have missed almost all of the transfer window. Link to comment Share on other sites More sharing options...
Lazlo78 Posted 14 December, 2012 Share Posted 14 December, 2012 When did they enter administration (1/2/12?) and is it 12 months they are allowed to be in that position? I know it's been asked a gazillion times in here, but I can't for the life of me remember the answer,,, Link to comment Share on other sites More sharing options...
solentstars Posted 14 December, 2012 Share Posted 14 December, 2012 taken from nick on the ui Couple of things seem to be coming out 1. PST is not in a financial position to buy the club or ground, issues with both amount raised through pledges and the property developers they are in bed with. 2. A number of their better players are not going to hang around in January, if the issue isnt settled till 15th January even if the trust can raise the money, they are unlikely to be able to convince anyone to leave the security of a contract and join them in January with such unrest. 3. a lot of pompey fans are unhappy with the trust in the lack of transparency Link to comment Share on other sites More sharing options...
Joey-deacons-left-nut Posted 14 December, 2012 Share Posted 14 December, 2012 Neil Allen@pn_neil_allen Uncomfortable scenes outside court with some #Pompey fans confronting Kushnir and D Chainrai and chasing them off down the road with flags. hahahahahha Link to comment Share on other sites More sharing options...
trousers Posted 14 December, 2012 Share Posted 14 December, 2012 @NabilHassan79: #pompey trust chairman Ashley Brown tells BBC Sport: "We're very pleased with that decision that is exactly the result we wanted." Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 @NabilHassan79: #pompey trust chairman Ashley Brown tells BBC Sport: "We're very pleased with that decision that is exactly the result we wanted." Considering yesterday the PDT didn't know what the f*ck was going on, I'll put that down to optimistic bluster and saying something for the sake of saying something. Link to comment Share on other sites More sharing options...
PhilippineSaint Posted 14 December, 2012 Share Posted 14 December, 2012 So who got the legal bills for today then? got to be some more money out of the coffers Link to comment Share on other sites More sharing options...
Wurzel Posted 14 December, 2012 Share Posted 14 December, 2012 Has anyone considered that the Judge maybe a firm believer in the Mayan calendar and simply thought "You want 28 more days? Ok, who gives a ****" Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 14 December, 2012 Share Posted 14 December, 2012 Well if that was a 'victory' for plucky pompey then they're in for shock when they finally lose. Where's that photo of the nuke being detonated over farton? Link to comment Share on other sites More sharing options...
The Kraken Posted 14 December, 2012 Share Posted 14 December, 2012 Its ok; a PDT spokesman has stepped forward on POL to ask the Fratton faithful for calm. Thanks Mick. I'll just add a plea for some calm. In the build up to this case we were all very confident, but in the blink of an eye things can change and I do know that Mick, Mark and Ash have been working solid on this for last 36 hours - Portpin were trying to wrestle back the Administration and that is blown out of the water. To use Ashley's analogy - we were 2-1 up and going into injury time and we have conceded an equaliser. We'd all prefer to have won today. But we are now into extra time and everything up to now has show we have the ability, passion and backing to score again and win. Some fans are moaning about the late equaliser and looking for blame, that is understandable - but I'd just ask you all to dust yourself down and not give up and fight for the win. This will end soon and I believe from today we can see this through once and for all. I think someone has been shopping at the Rupert Lowe Store of Analogies. Link to comment Share on other sites More sharing options...
Gemmel Posted 14 December, 2012 Share Posted 14 December, 2012 Nabil Hassan @NabilHassan79 A Brown says PST's business plan can survive without 'floating charge' money (£2m) but admits involvement of Stuart Robinson is uncertain. And they are celebrating ????????? Link to comment Share on other sites More sharing options...
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