Saint_clark Posted 12 February, 2010 Share Posted 12 February, 2010 they are drawing up a statement, they have no say whatsoever in money going in and out. they are not an administrator. But it makes the "outgoings" column a little larger Link to comment Share on other sites More sharing options...
stevegrant Posted 12 February, 2010 Share Posted 12 February, 2010 And what is vantis's part in all this. If they are over seeing the books surely they would have had some input? As Chez says, that's not their remit. The Premier League could (and should) have imposed another embargo while they get this statement prepared, but that would involve them actually growing a pair first. Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 Is there anything to stop Vantis (besides the complexity of the accounts obviously) getting a move on and delivering it to the court early? After all its to be delivery BY that date not ON that date. Not going to happen but would be funny if it did! Link to comment Share on other sites More sharing options...
stevegrant Posted 12 February, 2010 Share Posted 12 February, 2010 Is there anything to stop Vantis (besides the complexity of the accounts obviously) getting a move on and delivering it to the court early? After all its to be delivery BY that date not ON that date. Not going to happen but would be funny if it did! Accountants in "not squeezing as much money out of its client" shocker - can't see it, personally Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 Accountants in "not squeezing as much money out of its client" shocker - can't see it, personally Who knows with Agent Orange in charge? Maybe they settled for a fixed price. Link to comment Share on other sites More sharing options...
sussexsaint Posted 12 February, 2010 Share Posted 12 February, 2010 Can anything happen between the submission of the statement and the court hearing? Link to comment Share on other sites More sharing options...
Joensuu Posted 12 February, 2010 Share Posted 12 February, 2010 I can't believe anyone is taking Storrie's nonsense seriously! No quotes or facts at all. The Premier League would be opening themsleves up to massive litigation issues if they bend the rules. Has Sky already paid next season's payments to the league? How else could the Premier League pay any of next season's money early? As Scudamore points out, the Premier League isn't a bank, it doesn't hold millions in reserve: the PL holds very little money as its role is to pay it out to its clubs, other football leagues and good causes. Link to comment Share on other sites More sharing options...
Joensuu Posted 12 February, 2010 Share Posted 12 February, 2010 Begovic relieved to leave pompey: http://news.bbc.co.uk/sport1/hi/football/teams/s/stoke_city/8512831.stm (wonder if he's as 'relieved' as Grant was?) Link to comment Share on other sites More sharing options...
Micky Posted 12 February, 2010 Share Posted 12 February, 2010 I shouldn't. No really. Oh alright then. Seems the Skates aren't the only ones that have bad luck choosing the right Arabic partner http://www.telegraph.co.uk/news/worldnews/middleeast/dubai/7205478/Groom-sues-in-laws-over-ugly-bride.html http://nz.news.yahoo.com/a/-/mp/6788912/groom-discovers-new-wife-has-a-beard/ I think you may have got there a little late with those 'exclusives' - GM gazumped you on this headliner - although to be fair he did credit you...! http://www.saintsweb.co.uk/forum/showthread.php?t=20162 Link to comment Share on other sites More sharing options...
Doctoroncall Posted 12 February, 2010 Share Posted 12 February, 2010 (edited) Can anything happen between the submission of the statement and the court hearing? They can lose a footy match to us ;-) The court hasn't imposed anything nor the PL (apart from signing only frees) so I would assume it's business as normal down the road, so that could mean anything from other creditors wanting to join the party to them signing players! Edited 12 February, 2010 by Doctoroncall Link to comment Share on other sites More sharing options...
Goalie66 Posted 12 February, 2010 Share Posted 12 February, 2010 This really is a total mystery to me. I honestly don't know what the outcome is going to be. As long as we beat them, I don't really care either. I'd rather see them relegated, then relegated again and again and again rather than them going out of existence, however when I hear news that they have been allowed to sign another player it really does make me want them to disappear. I certainly wouldn't lose any sleep over it if they went bust. Agree it is tountamount to a massive two fingers to the Court that they were so lucky to escape from this Wednesday and two fimngers to every one else that says it would be awful to see Pompey disappear. No it bloody would't !! Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 Can anything happen between the submission of the statement and the court hearing? Probably not but I guess my sort of point was that, assuming the report shows the gory details of there insolvency then they will be try hard to stop that report reaching the hands of HMRC who could then, one assumes, pass it on to other parties to prosecute pompey even if pompey found the money to pay off HMRC before the due date. Link to comment Share on other sites More sharing options...
Guided Missile Posted 12 February, 2010 Share Posted 12 February, 2010 In January, 2009, Equifax provided a league table of solvency, out of a total score of 100. Don't say no one was warned... The Equifax Table 98 Arsenal 93 Man United 71 West Brom 65 Tottenham 43 Blackburn 40 Manchester City 37 Sunderland 37 West Ham 26 Liverpool --------- CLUBS BELOW THIS LINE TECHNICALLY INSOLVENT 18 Everton 17 Stoke City 10 Chelsea 7 Middlesbrough 5 Newcastle 5 Bolton 2 Aston Villa 2 Wigan 2 Fulham 1 Hull 0 Portsmouth Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 http://www.skysports.com/story/0,19528,11661_5945196,00.html A poll conducted by Sky Sports News shows support from other Premier League chairmen to ensure Portsmouth's survival this season - but only if it doesn't give them a competitive advantage. Club sources say they would prefer Portsmouth to receive a 'parachute payment' only if the Pompey went into administration and was docked nine points as per Premier League rules. Link to comment Share on other sites More sharing options...
andysstuff Posted 12 February, 2010 Share Posted 12 February, 2010 http://www.skysports.com/story/0,19528,11661_5945196,00.html A poll conducted by Sky Sports News shows support from other Premier League chairmen to ensure Portsmouth's survival this season - but only if it doesn't give them a competitive advantage. Club sources say they would prefer Portsmouth to receive a 'parachute payment' only if the Pompey went into administration and was docked nine points as per Premier League rules. And, according to popular opinion on here, Admin is no longer an option while the WUO is going through the courts. Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 And, according to popular opinion on here, Admin is no longer an option while the WUO is going through the courts. I thought the opinion was that admin was still an option but it was unlikely that any of the creditors would put them into admin, and they can't do it themselves. Link to comment Share on other sites More sharing options...
Fowllyd Posted 12 February, 2010 Share Posted 12 February, 2010 Quite a lengthy piece in Da Noos today: http://www.portsmouth.co.uk/sport/Week-of-hard-work-ahead.6063502.jp I particularly liked these quotes from the man himself: 'Debts have been reduced dramatically and obviously we welcome the chance to talk things through with Vantis and then put the case forward in a few days' time.' Or, to put it another way: "We welcome the chance to discuss the working mechanism of the guillotine with Monsieur Robespierre". 'It's still a serious position but we have put a strong case up to the court and we will put an even stronger one up once we get all the figures together.' I read that as "On Wednesday we said please, then pretty please. Next time we'll be saying pretty please with brass knobs on. That'll do it." And there's plenty more where those came from... Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 In more hard to believe news: http://www.dailymail.co.uk/sport/football/article-1250531/Spurs-boss-Harry-Redknapp-shocked-Portsmouths-fall-grace.htmlTottenham boss Harry Redknapp admits he is stunned by Portsmouth's plight since leading them to FA Cup glory at Wembley.After all he had nothing to do with them living beyond their means for so long did he.... Link to comment Share on other sites More sharing options...
andysstuff Posted 12 February, 2010 Share Posted 12 February, 2010 I thought the opinion was that admin was still an option but it was unlikely that any of the creditors would put them into admin, and they can't do it themselves. Yeh, thinking again, maybe you are right. course, no one seems to be 100% certain, even the outside this gforum, with different people quoting different things in different places. Interesting times to say the least, and we will all be more knowledgeable at the end of this process. :-) Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 12 February, 2010 Share Posted 12 February, 2010 Quite a lengthy piece in Da Noos today: http://www.portsmouth.co.uk/sport/Week-of-hard-work-ahead.6063502.jp I particularly liked these quotes from the man himself: Or, to put it another way: "We welcome the chance to discuss the working mechanism of the guillotine with Monsieur Robespierre". I read that as "On Wednesday we said please, then pretty please. Next time we'll be saying pretty please with brass knobs on. That'll do it." And there's plenty more where those came from... I'm really looking forward to giving that twaaaaaaaaat some stick tomorrow. He really is the most odious creature ever to set foot on the football planet. Link to comment Share on other sites More sharing options...
Fowllyd Posted 12 February, 2010 Share Posted 12 February, 2010 I thought the opinion was that admin was still an option but it was unlikely that any of the creditors would put them into admin, and they can't do it themselves. I should think that, if HMRC and other creditors were paid and the winding up petition removed, Pompey would then be able to put themselves into administration. However, I still don't see it happening. SSN has presumably conducted a poll based on the rumour of early payment - but as far as anyone knows a rumour is all it is. And, if Pompey were reprieved and thus offered the chance to go into administration themselves, I bet they still wouldn't do it anyway! Link to comment Share on other sites More sharing options...
Fowllyd Posted 12 February, 2010 Share Posted 12 February, 2010 I'm really looking forward to giving that twaaaaaaaaat some stick tomorrow. He really is the most odious creature ever to set foot on the football planet. Actually, I think we should be singing his name till it echoes all around St Mary's, if only to show that satire is alive and well. Link to comment Share on other sites More sharing options...
Foxstone Posted 12 February, 2010 Share Posted 12 February, 2010 I'm really looking forward to giving that twaaaaaaaaat some stick tomorrow. He really is the most odious creature ever to set foot on the football planet. He sure is: I know we have been saddled with our fair share of blithering idiots, but at least they were fundamentally honest blithering idiots. Storrie has no scruples at all ! Link to comment Share on other sites More sharing options...
Deano6 Posted 12 February, 2010 Share Posted 12 February, 2010 I think, taking off my Pompey-hating hat, the best outcome may be them to receive this money, but have to take a points deduction/automatic relegation, as the Sky poll suggests. It's only because of this 'bail out' that they're not in admin (/ wound up) which would, in normal course of events lead to such a penalty. If there is a mechanism where they can be saved from liquidation with minimal disruption (ie they would get paid this in 2 months anyway, it's not a strict handout) then go for it, but they should be treated the same way as a club who had gone into admin. Otherwise it's just another loophole like we tried. Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 I think, taking off my Pompey-hating hat, the best outcome may be them to receive this money, but have to take a points deduction/automatic relegation, as the Sky poll suggests. It's only because of this 'bail out' that they're not in admin (/ wound up) which would, in normal course of events lead to such a penalty. If there is a mechanism where they can be saved from liquidation with minimal disruption (ie they would get paid this in 2 months anyway, it's not a strict handout) then go for it, but they should be treated the same way as a club who had gone into admin. Otherwise it's just another loophole like we tried. It would still be a loophole as by not going into admin they would lose the likely much larger penalties that would come with them exiting admin, assuming they failed to agree a CVA with HMRC. Anyway the advanced payment would only cover their tax debt and they have very little money to get to the end of the season and still a mountain of debt. Link to comment Share on other sites More sharing options...
daveygwyatt Posted 12 February, 2010 Share Posted 12 February, 2010 anyone seen the i didnt see it coming quote from rednapp on portsmouth news... will he ever accept his part in any team he manages financial troubles Link to comment Share on other sites More sharing options...
Doctoroncall Posted 12 February, 2010 Share Posted 12 February, 2010 Actually, I think we should be singing his name till it echoes all around St Mary's, if only to show that satire is alive and well. I can hear it now... "there's only one Storrie Teller, one Stor-rie Tell-er, etc" Link to comment Share on other sites More sharing options...
Channon's Sideburns Posted 12 February, 2010 Share Posted 12 February, 2010 I can hear it now... "there's only one Storrie Teller, one Stor-rie Tell-er, etc" Good call Doctor, I'm convinced.... Link to comment Share on other sites More sharing options...
Gingeletiss Posted 12 February, 2010 Share Posted 12 February, 2010 In more hard to believe news: http://www.dailymail.co.uk/sport/football/article-1250531/Spurs-boss-Harry-Redknapp-shocked-Portsmouths-fall-grace.htmlTottenham boss Harry Redknapp admits he is stunned by Portsmouth's plight since leading them to FA Cup glory at Wembley.After all he had nothing to do with them living beyond their means for so long did he.... You should see the SSN loop, he started to say the same, and point out that Poopey wages weren't that high, then remembered himself (i.e. what he said under oath), and then changed his story by claiming he had nothing to do with the wages. I hope the CPS, were watching;) Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 You should see the SSN loop, he started to say the same, and point out that Poopey wages weren't that high, then remembered himself (i.e. what he said under oath), and then changed his story by claiming he had nothing to do with the wages. I hope the CPS, were watching;) How exactly is 90% of income on wages 'Not that high'? Link to comment Share on other sites More sharing options...
daveygwyatt Posted 12 February, 2010 Share Posted 12 February, 2010 rednapp, what a c**k you certainly wouldnt trust him with your credit card. Link to comment Share on other sites More sharing options...
EastleighSoulBoy Posted 12 February, 2010 Share Posted 12 February, 2010 Quite a lengthy piece in Da Noos today: http://www.portsmouth.co.uk/sport/Week-of-hard-work-ahead.6063502.jp I particularly liked these quotes from the man himself: Or, to put it another way: "We welcome the chance to discuss the working mechanism of the guillotine with Monsieur Robespierre". I read that as "On Wednesday we said please, then pretty please. Next time we'll be saying pretty please with brass knobs on. That'll do it." And there's plenty more where those came from... Was PS specially flown in from Hayling Island to give this interview? He's obviously got 'an arrangement' with UK Customs to clear him rapidly, or is Hayling Island part of the E.U. now? Link to comment Share on other sites More sharing options...
saintalan Posted 12 February, 2010 Share Posted 12 February, 2010 And, according to popular opinion on here, Admin is no longer an option while the WUO is going through the courts. Is the judge/recorder allowed to put them into admin instead of the wind up? Link to comment Share on other sites More sharing options...
ribbo Posted 12 February, 2010 Share Posted 12 February, 2010 In January, 2009, Equifax provided a league table of solvency, out of a total score of 100. Don't say no one was warned... The Equifax Table 98 Arsenal 93 Man United 71 West Brom 65 Tottenham 43 Blackburn 40 Manchester City 37 Sunderland 37 West Ham 26 Liverpool --------- CLUBS BELOW THIS LINE TECHNICALLY INSOLVENT 18 Everton 17 Stoke City 10 Chelsea 7 Middlesbrough 5 Newcastle 5 Bolton 2 Aston Villa 2 Wigan 2 Fulham 1 Hull 0 Portsmouth poor form GM, if you look at the article http://www.equifax.co.uk/About-us/Press_releases/2009/PREMIERSHIP_CREDIT_CRUNCH.html it has an asterisk by portsmouth that explains : No accounts filed for Portsmouth Football Club at Companies House, so automatically given zero points and insolvency rating. Link to comment Share on other sites More sharing options...
Guided Missile Posted 12 February, 2010 Share Posted 12 February, 2010 No accounts filed for Portsmouth Football Club at Companies House, so automatically given zero points and insolvency rating. Accounts that are really bad are filed late, or not at all. That's why Pompey scored zero. It's not an anomally, FFS, it's because Equifax assumes the accounts are bad and they are very rarely wrong, as the last few weeks have demonstrated.... Link to comment Share on other sites More sharing options...
pedg Posted 12 February, 2010 Share Posted 12 February, 2010 Accounts that are really bad are filed late, or not at all. That's why Pompey scored zero. It's not an anomally, FFS, it's because Equifax assumes the accounts are bad and they are very rarely wrong, as the last few weeks have demonstrated.... Plus if they waited for pompey to submit their accounts they might never get their report out. Link to comment Share on other sites More sharing options...
Guided Missile Posted 12 February, 2010 Share Posted 12 February, 2010 Plus if they waited for pompey to submit their accounts they might never get their report out. Here's another company that were late filing their accounts: http://www.saintsweb.co.uk/forum/showthread.php?t=9698 Link to comment Share on other sites More sharing options...
Foxy Posted 12 February, 2010 Share Posted 12 February, 2010 Skates return to court on 1st March - just in from Sky Link to comment Share on other sites More sharing options...
Gingeletiss Posted 12 February, 2010 Share Posted 12 February, 2010 Ferk me, they're fallen over themselves to help them. SSN, new date for court, Monday 1st March.:mad: Link to comment Share on other sites More sharing options...
Winchester Red Posted 12 February, 2010 Share Posted 12 February, 2010 Sh1t - that means if we get a draw we have to play the replay, rather than them being put out of their misery first Link to comment Share on other sites More sharing options...
Um Bongo Posted 12 February, 2010 Share Posted 12 February, 2010 Why the **** have they got a new date? Link to comment Share on other sites More sharing options...
View From The Top Posted 12 February, 2010 Share Posted 12 February, 2010 The paperwork has to be in next week regardless and it's that paperwork that decides their fate. The judge had requested the next available court date and I guess that's it. Link to comment Share on other sites More sharing options...
Matthew Le God Posted 12 February, 2010 Share Posted 12 February, 2010 February's wages will have come and gone by then. Interesting to see if they are paid or not. Link to comment Share on other sites More sharing options...
saint si Posted 12 February, 2010 Share Posted 12 February, 2010 Interesting timing... according to Companies House, their accounts are due to be filed on the 28th Feb... so will be available for all to see... Go here and search on company 03747237 http://wck2.companieshouse.gov.uk/f409b8d693a80c4f84b67fe89ea12518/wcframe?name=accessCompanyInfo Link to comment Share on other sites More sharing options...
saint_mears Posted 12 February, 2010 Share Posted 12 February, 2010 Here's another company that were late filing their accounts: http://www.saintsweb.co.uk/forum/showthread.php?t=9698 But i doubt he was going to use money from that source more likely one of his isle of man accounts. Merlion housing was a minor minor business amongst his portfolio. Link to comment Share on other sites More sharing options...
sussexsaint Posted 12 February, 2010 Share Posted 12 February, 2010 February's wages will have come and gone by then. Interesting to see if they are paid or not. exactly my thought - if wages not paid on the day they go to court will tell it all really Link to comment Share on other sites More sharing options...
rallyboy Posted 12 February, 2010 Share Posted 12 February, 2010 my understanding was that on that date they're still being judged on what state the business is in next Wednesday, the seven day deadline - is that right? The rest is just down to finding time to hear the case meaning further promises of phantom owners will count for nowt. Maybe the court hopes they just go pop in the meantime - the wages day will tell us much...and let's not imagine that date when accounts are due is a coincidence, the taxman is a clever bloke and he's offering them much rope.... Storrie will take this as a reprieve and won't bother about it until that morning. Panic ye not my pretties, they're still fatally wounded, they are just struggling to find a free slot at the Crem now. Link to comment Share on other sites More sharing options...
Chin Strain Posted 12 February, 2010 Share Posted 12 February, 2010 2 weeks to pay day...tick, tock, tick, tock. I would rather it had been next week, but I can't believe anyone will buy them if you gave them 10 years to find a nutcase willing to burn money Link to comment Share on other sites More sharing options...
Crab Lungs Posted 12 February, 2010 Share Posted 12 February, 2010 If I get the chance this evening, I will be creating one, final comic strip for all of your amusement Link to comment Share on other sites More sharing options...
Weston Saint Posted 12 February, 2010 Share Posted 12 February, 2010 When Vantis report next Wednesday, if it is to confirm they are trading insolvent, they will apply for Administration. The Directors have to or face a charge of trading whilst insolvent. Administration will give time for any new prospective owners to carry out their own Due Diligence. The courts will give them permission on Admin Link to comment Share on other sites More sharing options...
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