hutch Posted 14 January, 2013 Share Posted 14 January, 2013 Postponed, not withdrawn. Suspended, not postponed. Link to comment Share on other sites More sharing options...
Joe Kirkup Posted 14 January, 2013 Share Posted 14 January, 2013 Hatch, Clapham, Torres, Gemmell, Trousres Joe K, Steve G, are we convening at the George tomorrow lunchtime as previously planned? Not going to make tomorrow. Hopefully will make the hearing where judge agrees to liquidation though Link to comment Share on other sites More sharing options...
Chez Posted 14 January, 2013 Share Posted 14 January, 2013 Will the £800,000 loan from the HNW `fans' be added to the debt that the club carries with them when they possibly come out of the administration? Link to comment Share on other sites More sharing options...
Faz Posted 14 January, 2013 Share Posted 14 January, 2013 So their grand plan to create a sutainable business model starts with £3m of debt they probably can't service. Link to comment Share on other sites More sharing options...
badgerx16 Posted 14 January, 2013 Share Posted 14 January, 2013 So their grand plan to create a sutainable business model starts with £3m of debt they probably can't service. The first step towards their next admin ? Link to comment Share on other sites More sharing options...
Gemmel Posted 14 January, 2013 Share Posted 14 January, 2013 Will the £800,000 loan from the HNW `fans' be added to the debt that the club carries with them when they possibly come out of the administration? I would have thought so. They said if the club was liquidated, they wouldn't get any money back - Suggesting that if they do take over they will get it back. Link to comment Share on other sites More sharing options...
andysstuff Posted 14 January, 2013 Share Posted 14 January, 2013 (edited) Will the £800,000 loan from the HNW `fans' be added to the debt that the club carries with them when they possibly come out of the administration? I seem to remember being assured that this wasn't a loan but a donation to keep the club going. Edit: yep Micah Hall assured me on 14 dec that HNW Injection of £1M (now only £800k?) was put I. With zero return. Now whether he means zero return or zero interest is a moot point. Edited 14 January, 2013 by andysstuff T Link to comment Share on other sites More sharing options...
rallyboy Posted 14 January, 2013 Share Posted 14 January, 2013 If the club was liquidated, Chinny would do 'okay', and the PDT would be alright with the world's firstest and bestest-ever phoenix club. Whereas the big losers would be the HNWI's and the council, if they are dim enough to bung a few million down a black hole. It'll be a brave councillor who stands up and supports that motion, or stands against it - in fact we could be in for the first ever silent council debate. The Trust in particular is looking to shift the exposure onto other parties, as an organisation they have little to lose - and along with Chinny they would be much better off with liquidation wiping out football debts etc. Whereas your big-hearted local businessman and the council are being invited to form an orderly queue to be taken into Jimmy Savile's dressing room for special treatment. And all this to fool a judge. Again. My money is on him being fooled. Link to comment Share on other sites More sharing options...
Minsk Posted 14 January, 2013 Share Posted 14 January, 2013 Suspended, not postponed. Ah yes, that's the word, suspended. Thought postponed was wrong but be couldn't be bothered to look back through the thread and check. Thanks. Link to comment Share on other sites More sharing options...
TopGun Posted 14 January, 2013 Share Posted 14 January, 2013 I realise that not much is likely to happen at the High Court tomorrow but it's still interesting to note the pST's silence this time around. Before the last scheduled court date, they were 'giving it large' and proclaiming how they were going to hang Chainrai out to dry etc. Much more circumspect now. Link to comment Share on other sites More sharing options...
OldNick Posted 14 January, 2013 Share Posted 14 January, 2013 Looks like our favourite spoof twitter account's been pulled no more mad rambling tweets about the blue few. Ohthank god for that, i wasn't sure who was talking the most sense and also who was the professional journalist Link to comment Share on other sites More sharing options...
dubai_phil Posted 14 January, 2013 Share Posted 14 January, 2013 Oh no DISASTER...... We could have just gifted the phew ammunition to knock us with for the next 100 years... Their revenge for fat in the pipes http://www.dailymail.co.uk/sport/football/article-2262042/Rodents-Man-United-Chelseas-date-turkey--Premier-Leagues-CLEAN-table.html We have an empty soap dispenser.... A gap in the floor... And a dirty ceiling. OMG Southampton - instructed to clean one of their ceilings, refill a soap dispenser and sort out a gap in a floor which provided potential access for pests Read more: http://www.dailymail.co.uk/sport/football/article-2262042/Rodents-Man-United-Chelseas-date-turkey--Premier-Leagues-CLEAN-table.html#ixzz2HxmT9z48 Follow us: @MailOnline on Twitter | DailyMail on Facebook Still, at least we weren't selling out of date food or under cooked Turkey (just playing like some in our early season games) and we weren't infested by Rodents like ManUre Link to comment Share on other sites More sharing options...
Chopper71 Posted 14 January, 2013 Share Posted 14 January, 2013 They make it too easy for us!! - Represent Pompey In the Changing Room. The title could suggested that you could take along your boots for a game: http://www.portsmouthfc.co.uk/LatestNews/news/Represent-Pompey-In-The-Changing-Room-4052.aspx I think this phrase must be a joke: 'Each Football League club will be represented by approximately 200 fans, so act quickly to ensure you are one of them.' Link to comment Share on other sites More sharing options...
Gemmel Posted 14 January, 2013 Share Posted 14 January, 2013 The original terms The Portsmouth City Council have agreed to loan the Pompey Supporter’s Trust £1.45m in order for them to continue to edge closer to the takeover of Portsmouth Football Club. Councillors voted unanimously to back the PST (Pompey Supporter’s Trust) with the main bulk of that loan going towards the purchase of Fratton Park. The option approved (option two) was proposed as follows: Make budgetary provision for £1.45m of loan support to the PST for a 12-month period ending 31 August 2013, which shall be conditional upon: i) The Club owned and operated by the PST being deemed to be the “Relegated Club” and that transfer of membership of the Football League is obtained ii) The business and assets of the Club are acquired for £7.68m and that this consideration for the acquisition includes provision for the full and final settlement of the Football creditors iii) The Club owned and operated by PST obtaining all rights to the £11.7m of parachute payments iv) Obtaining a first legal charge over Fratton Park v) That no other legal charges are made against the income or assets of the Club beyond those set out in the PST Business Plan received on 1st August 2012 without prior consent of the City Council vi) That the City Council must obtain an assignment of unencumbered parachute payments (preferable) of a sum sufficient to repay the loan from the proper body entitled to provide it or alternatively that an investor guarantee is provided by the PST for the full £1.45m vii) A “subscription” agreement (or equivalent) for each of the Fan Share Scheme, High Net Worth Investors and Associate Director Scheme is in place which is satisfactory to the City Solicitor setting out the conditions of the investment and disinvestment into the Club and which does not allow any disinvestment until such time as the loan to the City Council has been repaid viii) Proof of funds from the Fan Share Scheme, High Net Worth Investors and Associate Director Scheme for the sum agreed in recommendation 2.3 has been demonstrated to the satisfaction of the S151 Officer and which are subject to the subscription agreement (or equivalent) set out in vii) above ix) A suitably skilled and experienced Chief Executive is appointed to the Club by the PS Link to comment Share on other sites More sharing options...
sussexsaint Posted 14 January, 2013 Share Posted 14 January, 2013 The original terms iii) The Club owned and operated by PST obtaining all rights to the £11.7m of parachute payments Whoops Link to comment Share on other sites More sharing options...
bridge too far Posted 14 January, 2013 Share Posted 14 January, 2013 This is a bit of a bummer too, isn't it? vi) That the City Council must obtain an assignment of unencumbered parachute payments (preferable) of a sum sufficient to repay the loan from the proper body entitled to provide it or alternatively that an investor guarantee is provided by the PST for the full £1.45m Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 I've heard a rumour that politicians are prone to u-turns.... In other words...are those terms and conditions worth the (toilet) paper they're printed on? Link to comment Share on other sites More sharing options...
buctootim Posted 14 January, 2013 Share Posted 14 January, 2013 I've heard a rumour that politicians are prone to u-turns.... In other words...are those terms and conditions worth the (toilet) paper they're printed on? That loan agreement was drawn up by the CEO / CFO and was pretty watertight. The politicans may have now overruled him. Link to comment Share on other sites More sharing options...
Gemmel Posted 14 January, 2013 Share Posted 14 January, 2013 http://fansonline.net/portsmouth/mb/view.php?id=476311 In an article that announces the pdt have got extra funding and an 85 post thread....... Not one of them asks where the money is coming from. One poster says it is the council, but they don't even pick up on that. It's the not caring where the money came from, that got them into this mess in the first place. Link to comment Share on other sites More sharing options...
sussexsaint Posted 14 January, 2013 Share Posted 14 January, 2013 It's the not caring where the money came from, that got them into this mess in the first place. exactly and on more than one occsaion Link to comment Share on other sites More sharing options...
hypochondriac Posted 14 January, 2013 Share Posted 14 January, 2013 http://fansonline.net/portsmouth/mb/view.php?id=476311 In an article that announces the pdt have got extra funding and an 85 post thread....... Not one of them asks where the money is coming from. One poster says it is the council, but they don't even pick up on that. It's the not caring where the money came from, that got them into this mess in the first place. Erm sorry to have to do this but the third comment asks where it is from... Link to comment Share on other sites More sharing options...
hutch Posted 14 January, 2013 Share Posted 14 January, 2013 Erm sorry to have to do this but the third comment asks where it is from... ...and the next 50 or so replies, including the PDT big guns & board members, berate anybody who dares to question rather than give any answers. Link to comment Share on other sites More sharing options...
johnnyboy Posted 14 January, 2013 Share Posted 14 January, 2013 BBC Solent Sport@solentsport #pompey high court case has been adjourned until 31st January, there'll be no hearing now tomorrow Link to comment Share on other sites More sharing options...
Edmonton Saint Posted 14 January, 2013 Share Posted 14 January, 2013 #pompey high court case has been adjourned until 31st January, there'll be no hearing now tomorrow Link to comment Share on other sites More sharing options...
Tokyo-Saint Posted 14 January, 2013 Share Posted 14 January, 2013 @pn_Emma_Judd: Judge has agreed to adjourn #Pompey high court case (PKF Vs Portpin) until January 31. More soon at http://t.co/DVufBvud In other news, David Connelly says playing for Pompey is one of the highlights of his career. At 35 he would play anywhere that pays him and say they were the best team in the world as soon as the cheque clears... Oh! Link to comment Share on other sites More sharing options...
Gemmel Posted 14 January, 2013 Share Posted 14 January, 2013 SO if the judge has agreed to adjourn.....Who made the request. Pretty sure it won't have been Chinny. Link to comment Share on other sites More sharing options...
sussexsaint Posted 14 January, 2013 Share Posted 14 January, 2013 End of the TF window then, jolly good Link to comment Share on other sites More sharing options...
Dangermouth Posted 14 January, 2013 Share Posted 14 January, 2013 My understanding from the post on the P*mpey website is that it was PKF. So that's the transfer window gone then Unless they have a load of deals lined up ready to be faxed through at 21:59 or whatever time they have to be in by. Link to comment Share on other sites More sharing options...
hypochondriac Posted 14 January, 2013 Share Posted 14 January, 2013 Must be close to an out of court settlement. Link to comment Share on other sites More sharing options...
Faz Posted 14 January, 2013 Share Posted 14 January, 2013 End of the TF window then, jolly good And close to the 1st anniversary of the Administration. Hmmmm. Link to comment Share on other sites More sharing options...
dvaughanwilliams Posted 14 January, 2013 Share Posted 14 January, 2013 And this is just the hearing to confirm that the trust case is no longer fundamentally flawed and to set another date for the proper hearing. Toaster on standby. Link to comment Share on other sites More sharing options...
pedg Posted 14 January, 2013 Share Posted 14 January, 2013 Were they not saying that the court thing tomorrow was just to decide when to restart properly? Is the 31st that again or is it the case starting again properly then? Link to comment Share on other sites More sharing options...
TopGun Posted 14 January, 2013 Share Posted 14 January, 2013 Must be close to an out of court settlement. Very much doubt that. It's PKF playing for more time as they can't get a deal amongst their own fixed that will stand up to scrutiny. Link to comment Share on other sites More sharing options...
TopGun Posted 14 January, 2013 Share Posted 14 January, 2013 So it looks like the talks last week with the Council came to zilch as expected. Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 (edited) BBC Solent Sport@solentsport #pompey high court case has been adjourned until 31st January, there'll be no hearing now tomorrow Quelle surprise... ....as Pompey edge a little closer to the parachute payment date... #howconvenient Edited 14 January, 2013 by trousers Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 Were they not saying that the court thing tomorrow was just to decide when to restart properly? Is the 31st that again or is it the case starting again properly then? This is what I don't get (amongst many other things).....if tomorrow was simply a quick gathering to set a date for reconvening the main case then surely there's no need to defer yet again? Unless the Trust still don't have a pot to urinate in of course... Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 Phil! Oh Phil....where for art thou Phil? (we need an explanation as to what's occurring here) Link to comment Share on other sites More sharing options...
Kingsland Red Posted 14 January, 2013 Share Posted 14 January, 2013 http://www.portsmouth.co.uk/sport/pompey/pompey-high-court-hearing-is-adjourned-1-4680644 Link to comment Share on other sites More sharing options...
ottery st mary Posted 14 January, 2013 Share Posted 14 January, 2013 Still no guarantee that the case will go ahead on 31st Jan.......They is a busted flush.... Trading insolvently throughout M'Lud:D Link to comment Share on other sites More sharing options...
pedg Posted 14 January, 2013 Share Posted 14 January, 2013 This is what I don't get (amongst many other things).....if tomorrow was simply a quick gathering to set a date for reconvening the main case then surely there's no need to defer yet again? Unless the Trust still don't have a pot to urinate in of course... But still not clear if the 31st is a deferral of the short meeting to decide on a date to resume or it is the resumption? Maybe PKF said to Chinny, "Can we try again on the 31st?", Chinny says yes and its then rubber stamped by the judge? Alternatively in the judges interest to get them to reach a decision without him so maybe they just pushed back the decide a date meeting a bit more to hope they can. Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 http://www.bbc.co.uk/sport/0/football/21014917 Since the original hearing in December, property developer Stuart Robinson has resolved his issues with PKF and has also exchanged contracts to buy the land surrounding Fratton Park.That land is seen as vital to the club's future and, if Robinson takes control of Fratton Park, it will finally allow the total redevelopment of the ground. Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 Joseph Barton @Joey7Barton Redknapp is a manager that needs backing in the transfer market. Always signs good players. Look at players he brought to Spurs/Pompey etc Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 But still not clear if the 31st is a deferral of the short meeting to decide on a date to resume or it is the resumption? Maybe PKF said to Chinny, "Can we try again on the 31st?", Chinny says yes and its then rubber stamped by the judge? Alternatively in the judges interest to get them to reach a decision without him so maybe they just pushed back the decide a date meeting a bit more to hope they can. Obviously take this with a pinch of salt given the intrepid source... Neil Allen @pn_neil_allen I am informed January 31 is a date to set the valuation hearing. Effectively tomorrow’s hearing has simply been put back two weeks. #Pompey Link to comment Share on other sites More sharing options...
ottery st mary Posted 14 January, 2013 Share Posted 14 January, 2013 (edited) Is it actually true that Robinson has exchanged contracts re land all around Fratton? Has he actually resolved his problems? Suggest he is still trying to resolve his lack of funds.. There is doubt re reporting here:rolleyes: Much ado about nothing at the moment... Still not enough readies on show by about 5 million;) Edited 14 January, 2013 by ottery st mary Link to comment Share on other sites More sharing options...
andysstuff Posted 14 January, 2013 Share Posted 14 January, 2013 (edited) @allthingsmartin: I own my own football club with 1000 other people in Lewes. Only £30 The more the merrier! http://t.co/NxXFdiMs http://t.co/8C1o7b57 Another community club chalks up 1000 members Edited 14 January, 2013 by andysstuff Link to comment Share on other sites More sharing options...
pedg Posted 14 January, 2013 Share Posted 14 January, 2013 Obviously take this with a pinch of salt given the intrepid source... Neil Allen @pn_neil_allen I am informed January 31 is a date to set the valuation hearing. Effectively tomorrow’s hearing has simply been put back two weeks. #Pompey Both sides keen to delay too much costly court time till after the next parachute payment perhaps? Link to comment Share on other sites More sharing options...
Gemmel Posted 14 January, 2013 Share Posted 14 January, 2013 Some of the pdt guys are saying that the 31st will replace today and then a hearing date will be set for after that. So that suggests that pkf/robinson/council etc etc. are ready again. I am pretty sure they will have to pay costs to date, which ever way the judge goes. Link to comment Share on other sites More sharing options...
trousers Posted 14 January, 2013 Share Posted 14 January, 2013 http://www.portsmouth.co.uk/sport/pompey/pompey-fans-trust-welcomes-high-court-adjournment-1-4680644 FANS hoping to take over Pompey say the latest delay in a court case to establish the value of Fratton Park will strengthen their hand. The hearing, which was due on Tuesday to determine details over the proposed sale of Fratton Park, will now take place on Thursday, January 31. The Pompey Supporters’ Trust has welcomed the news as it allows its bid to buy the club more time to be completed. Trust chairman Ashley Brown said: ‘Our original wish was to buy Fratton Park ourselves and we are optimistic that we will be able to achieve this, which of course is what the fans want. ‘However, the single most important thing our supporters can do to help achieve this objective is to convert their pledges or buy a share if they have not yet done so, either as individuals or in syndicates. ‘All money is held in an escrow account and will only be used should the bid proceed, as we all hope it will. The more cash we can raise before the final court hearing, the better our chances of success. It is as simple as that.’ Link to comment Share on other sites More sharing options...
dvaughanwilliams Posted 14 January, 2013 Share Posted 14 January, 2013 The Pompey Supporters’ Trust has welcomed the news as it allows its bid to buy the club more time to be completed. Great news! The club remains in limbo for a further 2 weeks. Link to comment Share on other sites More sharing options...
ottery st mary Posted 14 January, 2013 Share Posted 14 January, 2013 (edited) So still trying hard to get more pledges... Recent events show that the so called wealthy boyz have insufficient funds to bankroll the club anymore.. Mr Brown states IF(should) the bid proceeds as we HOPE it will....... Did I miss the positivity in his statement or get the wording mixed up? Edited 14 January, 2013 by ottery st mary Link to comment Share on other sites More sharing options...
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