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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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rallyboy

rallyboy

Posted
Posted

if Tony Soprano went round to my local pizza shop to collect debts, shot the bloke in the legs before chucking him out on the street I wouldn't think, 'mmm, new owner, that's the rosy future of the place secured'.

 

1.Chanrai needs to prove his legal claim to the whole set up.

2.He then needs to start clearing debts.

3.He also has to satisfy HMRC that he can clear their debt, by paying a significant sum next week.

 

 

If he fails to do any of these then he will look not like an owner but a loan shark who just wants his money back as soon as possible.

His priorities are obviously - his money, satisfying the other creditors (purely to make the club attractive), the welfare of the club - in that order.

 

If we follow that line of vague ifs and buts, one could suggest that rather than securing their future, he may have just taken the first step in pulling the plug on Pompey.

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ottery st mary

ottery st mary

Posted
Posted

What are ....Serious Fraud Office, Serious and Organised Crime Agency, City Of London Fraud Squad (Football Section)...EPL Corruption Squad, Hampshire Police Fraud Squad

and PC Farquar-Smythe-Jones..The Community Support Officer for Fratton and Milton doing about these horendous crimes in and around Portsmouth......

 

Looks to me as if The HMRC are the only interested party......OR are they.....

I expect CIA. FBI and our own MFI to be called in sooner than later......

 

Pass me another Bazooka..

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Jimmy Gabriel's Halo

Jimmy Gabriel's Halo

Posted
Posted
What are ....Serious Fraud Office, Serious and Organised Crime Agency, City Of London Fraud Squad (Football Section)...EPL Corruption Squad, Hampshire Police Fraud Squad

and PC Farquar-Smythe-Jones..The Community Support Officer for Fratton and Milton doing about these horendous crimes in and around Portsmouth......

 

Looks to me as if The HMRC are the only interested party......OR are they.....

I expect CIA. FBI and our own MFI to be called in sooner than later......

 

Pass me another Bazooka..

 

Not MFI as they went bust quite some time ago. However, your point is well made and one does wonder why earth some of these organisations you mention have been sitting around with their fingers up their ars*s for quite so long. Metaphorically speaking, of course.

 

Black, pot, kettle etc ??

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BigShadow

BigShadow

Posted
Posted

OK - Let's play 'What Happens Next?' - Heres my try.....

 

Chainrai claims ownership of the club. Jacobs and Al-Mirage dispute this so Chainrai seeks an injunction to prevent the current directors from taking any significant action until the courts can rule on the ownership issue.

 

PCFC apply for postponement of the HMRC hearing on the grounds that their directors are prevented from performing their duties by the injunction until the ownership issue is resolved.

 

Plausible? Possible?

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St Marco

St Marco

Posted
Posted
OK - Let's play 'What Happens Next?' - Heres my try.....

 

Chainrai claims ownership of the club. Jacobs and Al-Mirage dispute this so Chainrai seeks an injunction to prevent the current directors from taking any significant action until the courts can rule on the ownership issue.

 

PCFC apply for postponement of the HMRC hearing on the grounds that their directors are prevented from performing their duties by the injunction until the ownership issue is resolved.

 

Plausible? Possible?

 

Basically the HRMC want to shut Portsmouth down. They are doing the winding up order because they have not paid and won't pay. The petition is really a statement of saying "you have owed us xyz for xyz amount of time, you have until xyz to pay or we will have to go to court". A change of owner will not stop the case, unless he pays it. The HRMC's whole angle is to say the club/company should not be allowed to continue running because it hasen't met its legal commitments.

 

My boss who is far more intelligent then me (not that, that is difficult!). Thinks he will be selling the company on in the next couple of days for a knock down fee. He then get's something back and then bails. Leaving the 5th owner to face the music. He thinks he would not have taken this line of action if he did not have maybe something planned.

But regardless of who owns it the deadline will remain. Otherwise you could just chop and change your owner every few months and avoid paying tax.

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Mr Tickle

Mr Tickle

Posted
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:D

Notice that there is nothing OFFICIALLY announced about any takeover on the OFFICIAL Pompey web site. I wonder why?

 

Because they were down graded to the 'Bronze' website package after not paying their last bill. Therefore no web updates can be made unless they pay for a package upgrade. :D

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Saint_John

Saint_John

Posted
Posted

Can I remind everyone :-

 

(1) That Daddy is due in court in Israel this month (Feb 2010).

http://archive.globes.co.il/searchgl/Gaydamak%20ordered%20to%20attend%20February%20court%20hearing_h_hd_2L34nE3WqDrmnC30mDJ8tE3WpBcXqRMm0.html

 

 

(2) And while he has been back in Russia his Bank Accounts have been frozen.

http://www.complinet.com/global/news/news/article.html?ref=127834

(.... have been frozen, leaving him unable to deposit the money....")

 

 

(3) And last Sept money was removed from those FROZEN Bank Accounts when Chainrai & Kushnir sued Daddy (and almost the same amount was then loaned to the Skates later)

http://archive.globes.co.il/searchgl/Court%20orders%20Gaydamak%20to%20pay%20Kushnir,%20Chainrai%20$23m_h_hd_2L34nDZaqDbmnC30mDJ0mC34sBcXqRMm0.html

("...Gaydamak did not file a statement of defense in the lawsuit ...")

 

 

IMO the most important Court Case is the one due in Israel this month, if Daddy wins it and his Bank Accounts are unfrozen then I believe that Chainrai will be happy, and the STALLING and TIME WASTING that is going on in all the other cases will suddenly stop.

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Daren W

Daren W

Posted
Posted

So let me get this straight...

The man who was owed about £17 million by Gaydamak, paid about, funnily enough, £17 million in loans to the club...

Now an Arab no one has seen, and many believe doesn't exist, has apparently given the club to him for nothing...

 

Does anyone in English football look at some of the figures and the people involved with some of these clubs?? How can the above be anything less than Gaydamak finding a way of paying money back without paying money back???

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pedg

pedg

Posted
Posted
So let me get this straight...

The man who was owed about £17 million by Gaydamak, paid about, funnily enough, £17 million in loans to the club...

Now an Arab no one has seen, and many believe doesn't exist, has apparently given the club to him for nothing...

 

Does anyone in English football look at some of the figures and the people involved with some of these clubs?? How can the above be anything less than Gaydamak finding a way of paying money back without paying money back???

 

Think that 17 million is a coincidence. What might happen however is the Gady might write off 17M of what the club owe him so that Chainrai can increase the price of the club by 17M as the total price, including clearing debts would then be the same.

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Goalie66

Goalie66

Posted
Posted

I thought there are two companies with a winding up order and not just HMRC. Will they get the extension?

 

PCFC Statement

 

 

 

Balram Chainrai has exercised a clause in the security arrangement with Falcondrone Ltd to take a controlling interest in Portsmouth Football Club.

 

 

Mr Chainrai wishes to stabilise the club’s situation until new owners for the club are found.

 

 

The security arrangement with Falcondrone Ltd is based on documents drawn up by Fuglers law firm as part of the original draw down of the loan, depositing with Mr Chainrai the original share certificate and a signed but undated share transfer in favour of Mr Chainrai, which could be dated and exercised in the event of default on the terms of the loan agreement.

 

 

Peter Storrie continues as the chief executive officer of the club and continues to run the club. Meanwhile new owners are being found for the long-term future of the club.

 

 

The club will now apply to HMRC to adjourn next week's winding-up hearing to allow time for the club to be stabilised and new owners found.

 

 

New directors will be appointed to the board and Daniel Azougy will no longer be involved with any part of the club.

 

 

The importance and priority is to stabilise the business and give the players, staff and fans of Portsmouth FC confidence that the club will go forward

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Guan 2.0

Guan 2.0

Posted
Posted
I thought there are two companies with a winding up order and not just HMRC. Will they get the extension?

 

PCFC Statement

 

 

 

Balram Chainrai has exercised a clause in the security arrangement with Falcondrone Ltd to take a controlling interest in Portsmouth Football Club.

 

 

Mr Chainrai wishes to stabilise the club’s situation until new owners for the club are found.

 

 

The security arrangement with Falcondrone Ltd is based on documents drawn up by Fuglers law firm as part of the original draw down of the loan, depositing with Mr Chainrai the original share certificate and a signed but undated share transfer in favour of Mr Chainrai, which could be dated and exercised in the event of default on the terms of the loan agreement.

 

 

Peter Storrie continues as the chief executive officer of the club and continues to run the club. Meanwhile new owners are being found for the long-term future of the club.

 

 

The club will now apply to HMRC to adjourn next week's winding-up hearing to allow time for the club to be stabilised and new owners found.

 

 

New directors will be appointed to the board and Daniel Azougy will no longer be involved with any part of the club.

 

 

The importance and priority is to stabilise the business and give the players, staff and fans of Portsmouth FC confidence that the club will go forward

 

Translation: "Can we break the rules even further? We might be able to give you money and everything. It's just that in the likely event that we can't, we want to have passed the liability onto some easy mark".

 

Hard to tell whether HMRC will go for this, seeing as Pompey have only payed up when being forced to thus far, and even then fought it at every stage...

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sunrise

sunrise

Posted
Posted
i feel another caption competition coming on

 

gaydamak_1571726c.jpg

 

SG: "So whats this I keep hearing about brown envelopes"

MM: "I better not say too much in case a certain someone get a bit too twitchy"

 

Or

 

SG "Who's the tosser who keeps ringing that bloody bell?"

MM: "Don't worry about him, he's here on the care in the community scheme"

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pedg

pedg

Posted
Posted

Todays guardian fiver....

 

ANY PORTSMOUTH IN A STORM

 

A high court judge has lifted a so-called "super injunction" obtained by the Fiver in what has been hailed as a major step towards continuing the media culture of having to take amusing "sideways looks" at the demise of Portsmouth Football Club.

Mr Justice Gavelbasher decided he should lift the temporary gagging order he had granted, which prevented the tea-timely football email from reporting which shadowy Johnny Foreigner owns the south coast club today, how much money they owe, whether or not their website has been shut down, how late they are paying their wages this month, how many games David James can play before triggering that clause in his contract, how annoying the clanging noise being made by That Bloke With The Bell is and how distraught that poor girl must have felt when she saw, y'know, walk in and unbuckle his belt.

The injunction – self-imposed after the Fiver felt its will to live ebb away in the wake of its last story about Portsmouth – had been heavily criticised by assorted media outlets who felt it was unfair that the Fiver was exempt from reporting on the Premier League club's meltdown when they still had to. Big Paper drew attention to concerns about the case and the judge today decided that freedom of speech, however unwanted, should take precedence over the Fiver's sanity. Sources close to the Fiver say it is "in bits" after hearing that the injunction had been lifted.

"This couldn't have happened at a worse time for the Fiver," revealed a close friend of the Fiver, that the Fiver has just made up. "Portsmouth feature prominently in the news today, what with, y'know, and a company owned by a guy called Balram Chainrai having seized control of the debt-ridden club in lieu of a £17m loan he gave to its previous owner Ali al-Faraj earlier this season that was secured against the club's stadium, future television revenue and Faraj's 90% stake in the club."

The source added that the Fiver will now be forced to sit slumped in a chair staring into the middle distance for several minutes, trying to figure out if having their club owned by somebody who was financially reckless enough to loan it £17m a few months ago is a good or a bad thing for Pompey fans. "The Fiver hates having to have opinions about things it doesn't understand, which is just about everything," it revealed.

Sky Sports News, which is also reported to be under considerable mental strain at having to give regular hourly updates on the chaos surrounding Portsmouth, have reacted to the news of Justice Gavelbasher's decision by running a completely pointless feature explaining who can jump highest out of Everton midfielder Tim Cahill, a salmon and a gazelle. It's a gazelle.

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pedg

pedg

Posted
Posted
http://www.skysports.com/story/0,19528,11095_5918277,00.html

what a surprise, they are stalling for time.

 

"The importance and priority is to stabilise the business and give the players, staff and fans of Portsmouth FC confidence that the club will go forward."

 

Strangely I would have thought that settling the outstand bills would be better at bringing stability than constantly trying to avoid them?

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mcjwills

mcjwills

Posted
Posted
let me guess... get teh tax date ajourned until further notice, get the club to limp on whilst putting minimal if any funds in, take the nice £25m parachute payment and dissapear into the ether...

 

Joey, how could you think such a thing, you cynic, we all know that Chanrai to get his 17 million back is going to invest at least 150 million on a new ground, training facillities, paying off a 28 million loan to gaydamak.

 

He is going to put in minimal monies, let them get relegated, and sell what ever is left of the players in the close season, add that to the £25m parachute payment and then do a runner. :)

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Saint_John

Saint_John

Posted
Posted

There has just been a very good "Special Report" on BBC South Today pointing out the links between Daddy; Junior and all the other questionable characters involved.

 

 

PLEASE PLEASE PLEASE BBC SOUTH TODAY put the 3 min Special Report on the web for others outside the area to see it !!

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