dune Posted 10 February, 2010 Share Posted 10 February, 2010 If the latter happens someone else would get a bye!! That's not right, what if Pompey had got the final and went out of business a week before? No final? Link to comment Share on other sites More sharing options...
gaz Posted 10 February, 2010 Share Posted 10 February, 2010 Surely the court can't go by what is going to happen (club sale), but only by what has actually happened? Otherwise anyone could say they are buying the winning ticket in the lottery next week. Link to comment Share on other sites More sharing options...
Joensuu Posted 10 February, 2010 Share Posted 10 February, 2010 If the latter happens someone else would get a bye!! When's the next round's draw made? Immeadiately after the game? Or later? Won't that be the cut off point for us getting a by? Link to comment Share on other sites More sharing options...
hutch Posted 10 February, 2010 Share Posted 10 February, 2010 OK, so who had "Adjourned for 7 days" in the what will happen sweepstake? I did. About 6 weeks ago. Link to comment Share on other sites More sharing options...
Red Alert Posted 10 February, 2010 Share Posted 10 February, 2010 Are they going to be playing for the replay against us now? Need all the extra pennies a sell-out at fratton would bring. Link to comment Share on other sites More sharing options...
pedg Posted 10 February, 2010 Share Posted 10 February, 2010 Sometimes used as the basis for criminal prosecutions. ie if statement of affairs shows they were fooked in November but continued to trade until February the directors can be prosecuted. So who writes this report? Is it someone neutral they have to bring in to do it or do they produce it in-house? Link to comment Share on other sites More sharing options...
Under Weststand Posted 10 February, 2010 Share Posted 10 February, 2010 If the latter happens someone else would get a bye!! But as the court have agreed that the club are trading insolvently, we would then have grounds to sue the FA for allowing Portsmouth to play the game whilst being insolvent. Link to comment Share on other sites More sharing options...
JonnyLove Posted 10 February, 2010 Share Posted 10 February, 2010 So still going on then. Court cases are fun are they not. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 10 February, 2010 Share Posted 10 February, 2010 When's the next round's draw made? Immeadiately after the game? Or later? Won't that be the cut off point for us getting a by? It would be on Sunday. If Saints lose then they will be out and the team drawn against Pompey would get a bye to the next round if Pompey go bust. Link to comment Share on other sites More sharing options...
Chez Posted 10 February, 2010 Share Posted 10 February, 2010 "A document showing a company's assets and liabilities at a certain date. A statement of affairs is usually prepared when a company is about to go bankrupt." so they do not need to pay within 9 days, they just need to add up all their debts and creditors and provide a bank statement. Link to comment Share on other sites More sharing options...
Joensuu Posted 10 February, 2010 Share Posted 10 February, 2010 Are they going to be playing for the replay against us now? Need all the extra pennies a sell-out at fratton would bring. Would replays be after the 19th? Link to comment Share on other sites More sharing options...
RedArmy Posted 10 February, 2010 Share Posted 10 February, 2010 Delaying the inevitable. They haven't got 11m quid today, tomorrow and they won't have it next friday. Who in their right mind is going to buy a club thats got 11m debt, a winding up order, and the only way the club is going is down. Nobodys going to throw that kind of monry away, they arent a profitable business. plus, they still owe gayboy some money dont they? Link to comment Share on other sites More sharing options...
Danish Saint Posted 10 February, 2010 Share Posted 10 February, 2010 This is actually the best outcome, as we get to put the final nail in their coffin, football wise. Poopey now has 9 days to pay up or shut up. No spin or story from their directors can wriggle around the fact that if no new owner has come forward before next Friday, it's game over! Link to comment Share on other sites More sharing options...
buctootim Posted 10 February, 2010 Share Posted 10 February, 2010 So who writes this report? Is it someone neutral they have to bring in to do it or do they produce it in-house? External accountant. Doesnt stop the directors lying to the accountant though if they are comfortably resident elsewhere - not that Pompey have anyone disreputable involved in the club of course. http://www.bizhelp24.com/accounting/bankruptcy/statement-of-affairs.html Link to comment Share on other sites More sharing options...
warsash saint Posted 10 February, 2010 Share Posted 10 February, 2010 Are they going to be playing for the replay against us now? Need all the extra pennies a sell-out at fratton would bring. If a draw then I think Davis should boot the ball in his own net in 92 minute Link to comment Share on other sites More sharing options...
gaz Posted 10 February, 2010 Share Posted 10 February, 2010 Right, whats the info on ''the bidders''? Who what, where and why? Link to comment Share on other sites More sharing options...
Chez Posted 10 February, 2010 Share Posted 10 February, 2010 can they go into administration before 19th to avoid reappearing in court? Link to comment Share on other sites More sharing options...
Red Alert Posted 10 February, 2010 Share Posted 10 February, 2010 If they have serious bidders to buy the club, surely they could get some kind of statement to testify that from one of them. Take that to show the judge and things would have been very smooth indeed. As they did not do that, makes me think that these last minute bidders is just another way of stalling for time, when clearly they are fooked anyway. Link to comment Share on other sites More sharing options...
TopGun Posted 10 February, 2010 Share Posted 10 February, 2010 On http://www.portsmouth.co.uk/newshome/Pompey-handed-high-court-lifeline.6060141.jp?CommentPage=2&CommentPageLength=10#comments Fratton man,London 10/02/2010 13:21:59 This is pure discrimination by HMRC not allowing us 28 days.Can we not protest through the european courts ? LMFAO! Link to comment Share on other sites More sharing options...
warsash saint Posted 10 February, 2010 Share Posted 10 February, 2010 Right, whats the info on ''the bidders''? Who what, where and why? So you ACTUALLY think they have some bidders ? Link to comment Share on other sites More sharing options...
dubai_phil Posted 10 February, 2010 Share Posted 10 February, 2010 Fancy a hack if you are over for the final BTW? That sounds like the start of a plan! Link to comment Share on other sites More sharing options...
hypochondriac Posted 10 February, 2010 Share Posted 10 February, 2010 Can they still go into admin if they need to? Tht seems like the best option at the moment! Link to comment Share on other sites More sharing options...
Barry the Badger Posted 10 February, 2010 Share Posted 10 February, 2010 On http://www.portsmouth.co.uk/newshome/Pompey-handed-high-court-lifeline.6060141.jp?CommentPage=2&CommentPageLength=10#comments Fratton man,London 10/02/2010 13:21:59 This is pure discrimination by HMRC not allowing us 28 days.Can we not protest through the european courts ? LMFAO! To be fair they are just angry and clutching at straws as a lot of us were last spring/summer. Still funny as hell though. Link to comment Share on other sites More sharing options...
Gingeletiss Posted 10 February, 2010 Share Posted 10 February, 2010 so they do not need to pay within 9 days, they just need to add up all their debts and creditors and provide a bank statement. That's a laugh:D, they don't have a bank account, if this thread is to be believed:rolleyes: Link to comment Share on other sites More sharing options...
hypochondriac Posted 10 February, 2010 Share Posted 10 February, 2010 Clapham Saint we need answers! Link to comment Share on other sites More sharing options...
Islander Posted 10 February, 2010 Share Posted 10 February, 2010 If a draw then I think Davis should boot the ball in his own net in 92 minute No need - any replay would be the week after so we would get a bye if the get wound up next week Link to comment Share on other sites More sharing options...
slickmick Posted 10 February, 2010 Share Posted 10 February, 2010 Jammy ****s, have we got a bunch of pussies running HRMC or what. Not HMRC, they wanted them liquidated. The judge is the pussie. They will go into admin before Friday. Why oh why have they fallen for this crap, they have had months to prove they have a serious buyer. Link to comment Share on other sites More sharing options...
Barry the Badger Posted 10 February, 2010 Share Posted 10 February, 2010 Can they still go into admin if they need to? Tht seems like the best option at the moment! I think I remember reading that clubs can no longer put themselves into admin. Link to comment Share on other sites More sharing options...
shurlock Posted 10 February, 2010 Share Posted 10 February, 2010 Sky Sport are reporting Pompey have said there have been two serious offers for the club and pay of the debts. . wacko jacko and tyrekicker lynam - back from the dead? Link to comment Share on other sites More sharing options...
Gorgiesaint Posted 10 February, 2010 Share Posted 10 February, 2010 Are they going to be playing for the replay against us now? Need all the extra pennies a sell-out at fratton would bring. Now that would be funny, they play for a draw only for Rickie to stick in a last minute free kick!! Has the judge stated anywhere what will happen if they don't have a buyer? Oh and its my birthday on the 19th - guess what I want!!!! Link to comment Share on other sites More sharing options...
Under Weststand Posted 10 February, 2010 Share Posted 10 February, 2010 I may be reading this wrong, but in my opinion they now not only have to come up with 11.5-million by next Friday. But also have to prove that they are not insolvent & trading illegally. The judge has given them enough rope to hang themselves. Just given them enough time for the Saints to rub a little salt in the wound before the light are turned out Link to comment Share on other sites More sharing options...
JonnyLove Posted 10 February, 2010 Share Posted 10 February, 2010 How the hell did they manage to get a nine day extension. The Jammie gits. Mind you they won't be about much after that so still at least we get to play them. Have they paid use for their ticket allocations yet. Also Can we not ask for a WUO if owed more than £750? That would be funny. And another note are they not in court again with another WUO in relation to the Basingstoke firm? Link to comment Share on other sites More sharing options...
saintbletch Posted 10 February, 2010 Share Posted 10 February, 2010 I did. About 6 weeks ago. Did you add that due the courts being busy at the moment they'd actually get a 9 day adjournment? If not then technically it's a roll-over. Link to comment Share on other sites More sharing options...
shurlock Posted 10 February, 2010 Share Posted 10 February, 2010 Not HMRC, they wanted them liquidated. The judge is the pussie. They will go into admin before Friday. Why oh why have they fallen for this crap, they have had months to prove they have a serious buyer. If you consider pompey wanted the case adjourned for 28 days; and they've only got 7, its not a terrible result. Hopefully the courts massive caseload doesn't stop them being back in court next Friday. Link to comment Share on other sites More sharing options...
slickmick Posted 10 February, 2010 Share Posted 10 February, 2010 If they have serious bidders to buy the club, surely they could get some kind of statement to testify that from one of them. Take that to show the judge and things would have been very smooth indeed. As they did not do that, makes me think that these last minute bidders is just another way of stalling for time, when clearly they are fooked anyway. Exactly. They have fallen for ****ney ******** blagging bull****. Link to comment Share on other sites More sharing options...
pedg Posted 10 February, 2010 Share Posted 10 February, 2010 so they do not need to pay within 9 days, they just need to add up all their debts and creditors and provide a bank statement. I expect that the statement is to cover the judge so if in 9 days they are still insolvent, even if some money came in, she would wind them up then and there. That's if they get to that stage as if they get new enough money they could pay of HMRC and the order would be cancelled or if they don't get new money they will know there can be no more adjournments so would go into receivership if they could. Link to comment Share on other sites More sharing options...
buctootim Posted 10 February, 2010 Share Posted 10 February, 2010 I may be reading this wrong, but in my opinion they now not only have to come up with 11.5-million by next Friday. But also have to prove that they are not insolvent & trading illegally. The judge has given them enough rope to hang themselves. Just given them enough time for the Saints to rub a little salt in the wound before the light are turned out All hinges on whether they can show they have sufficient new investment lined up to restore them to solvency. Up to registrar to decide how credible offers are and a reasonable timeframe for completion. Dont think vague expressions of interest would be sufficient for them though - have to be real, concrete and provable. Link to comment Share on other sites More sharing options...
JonnyLove Posted 10 February, 2010 Share Posted 10 February, 2010 Can someone not email the judge a list of their debtors listed from here a fair few pages ago. Be interesting to see what Smuffs statement is like compared to that one we knocked up. Link to comment Share on other sites More sharing options...
Arizona Posted 10 February, 2010 Share Posted 10 February, 2010 HCDAJFPFC. Link to comment Share on other sites More sharing options...
shurlock Posted 10 February, 2010 Share Posted 10 February, 2010 All hinges on whether they can show they have sufficient new investment lined up to restore them to solvency. Up to registrar to decide how credible offers are and a reasonable timeframe for completion. Dont think vague expressions of interest would be sufficient for them though - have to be real, concrete and provable. Skates are responding that they have proof of future income, including ongoing TV money and if they go down a substantial parachute payment. Don't think its a silly argument. Link to comment Share on other sites More sharing options...
hutch Posted 10 February, 2010 Share Posted 10 February, 2010 Did you add that due the courts being busy at the moment they'd actually get a 9 day adjournment? If not then technically it's a roll-over. I believe I said 7 or 14 days. I haven't gone back to find it. Link to comment Share on other sites More sharing options...
JonnyLove Posted 10 February, 2010 Share Posted 10 February, 2010 Just a thought. How amazing will it be if Saturdays game is their last ever match and we beat them. I think that moment would stay in every saints fan until the end of time. Link to comment Share on other sites More sharing options...
Under Weststand Posted 10 February, 2010 Share Posted 10 February, 2010 Can they legally go into administration now they've been declared Insolvent? I would have thought that that avenue is now denied them. Anyone know for sure? Link to comment Share on other sites More sharing options...
Thorpe-le-Saint Posted 10 February, 2010 Share Posted 10 February, 2010 Excellent peice on the Today Show frm earlier... http://news.bbc.co.uk/today/hi/today/newsid_8507000/8507637.stm?ls Link to comment Share on other sites More sharing options...
bridge too far Posted 10 February, 2010 Share Posted 10 February, 2010 Skates are responding that they have proof of future income, including ongoing TV money and if they go down a substantial parachute payment. Don't think its a silly argument. But - in 9 days time - they will still be insolvent. Their liabilities will still far outweigh their assets. They might as well offer a Euromillions ticket as proof of future income. It's the here and now that matters, surely :smt102 Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 10 February, 2010 Share Posted 10 February, 2010 How the hell did they manage to get a nine day extension. The Jammie gits. Mind you they won't be about much after that so still at least we get to play them. Have they paid use for their ticket allocations yet. Also Can we not ask for a WUO if owed more than £750? That would be funny. And another note are they not in court again with another WUO in relation to the Basingstoke firm? Pompey get 45% of the gate profits which is presumably more than they would get for their share of the tickets so we only hand over the extra. By that time this may be to an administrator, or receiver. Link to comment Share on other sites More sharing options...
saintalan Posted 10 February, 2010 Share Posted 10 February, 2010 Skates are responding that they have proof of future income, including ongoing TV money and if they go down a substantial parachute payment. Don't think its a silly argument. It would be up to them to get a loan to cover that, there is no way now that the HMRC wants to loan it to them! Link to comment Share on other sites More sharing options...
buctootim Posted 10 February, 2010 Share Posted 10 February, 2010 Skates are responding that they have proof of future income, including ongoing TV money and if they go down a substantial parachute payment. Don't think its a silly argument. Still have to pay off HMRC; show that your income will exceed expenditure going forward and still have sufficient left over to agree repayment schedules with the remaining creditors so that they dont issue petitions of their own. Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 10 February, 2010 Share Posted 10 February, 2010 Skates are responding that they have proof of future income, including ongoing TV money and if they go down a substantial parachute payment. Don't think its a silly argument. Their liabilities over that period exceed their expected income. Link to comment Share on other sites More sharing options...
pedg Posted 10 February, 2010 Share Posted 10 February, 2010 Skates are responding that they have proof of future income, including ongoing TV money and if they go down a substantial parachute payment. Don't think its a silly argument. Yes it is a silly argument as they need that money to pay their on going costs such as the wage bill (and the electricity bill haha). If they give all that money to HMRC what are they going to use to pay those. The look at all the money coming in and please ignore all the money going out argument is silly. Link to comment Share on other sites More sharing options...
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