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Pompey Takeover Saga

Fitzhugh Fella

By Fitzhugh Fella,
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redkeith

redkeith

Posted
Posted

Disappointed but not surprised. There is a growing industry in the UK and US that exists to exploit the gap between the letter of the law and the spirit of the law. AA and the whole of the Skates senior management structure are just more of the same.

 

It will be interesting now, to see what Chanrai does, and how quickly he can run off with his share of the parachute money.

 

After that, there is the small issue of meeting the terms of the CVA -

 

- So far only £5M of the 15 required has been raised in transfers.

- The attendance and ST prediction was also ambitious

- Ben Haim has gone on loan to West Ham, who wanted him to take a pay cut, so I am sure the skates will be paying a share of his salary.

- Nugent and Utaka are still on the books, at £30k plus a week, with image rights on top!

 

On top of this, we may find out soon what the FL may have in store for them in terms of a transfer embargo and then there are other issues such as outstanding tax evasion charges, the unlicensed agent in the CVA, and anything else that is uncovered if the forensic accountants can finally get to work.

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Wes Tender

Wes Tender

Posted
Posted
Deduct it from the £37m (HMRC's view) or from the £24m (AA's view)....?

 

It will obviously have to be deducted from the £24 million, as had the work-experience level judge accepted that the debt was £37, even an imbecile such as he would have had to have accepted that HMRC would have had enough votes to have overuled the CVA.

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Trader

Trader

Posted
Posted (edited)

Football in this country are now bullet-proof with this judgment - and they will know it.

 

Stand by for more nonsense - especially from the Premier League.

 

A chance to start the clean-up has been missed.

 

I've already bought my Saints season ticket, but although its nothing to do with Saints I really feel that I cannot support this tower of sh*t that football has become with my money any more.

 

This may be my last season ticket.

Edited by Trader
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Shrek

Shrek

Posted
Posted

Incredible.

 

http://www.guardian.co.uk/football/2010/aug/05/hmrc-fail-block-portsmouth-administration

 

"HMRC is naturally disappointed not to have won this appeal and we can confirm that we do not intend to appeal."Our aim when pursuing debt of any kind is to achieve a fair outcome for the taxpayer and we will take this forward in the wider context of the football industry through separate and outstanding legal proceedings over the status of the so-called football creditors rule.

"This is an important and complex judgment and until we have had the opportunity to study it in detail we can't comment further."

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Joesaint

Joesaint

Posted
Posted
I'm not calling the skates anymore just CHEATS now thread required I feel to spread the message. Would love to play them with all our fans calling them cheats, in fact I feel every club shoud do it.

 

sorry wrote that too fast I am really angery, new thread required to give them a new name; CHEATS

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qwertySFC

qwertySFC

Posted
Posted

Irrespective of the outcome, the vast majority of right thinking people know this outcome is a sham. Publicly they have been dragged through the mud, PL accusing them of not being honest, negative national coverage of the case plus the fact the could not conjure up the balls to argue their case with any reasonable facts more on a begging bowl pleading crocodile tears don't liquidate us.

 

IMHO, more is yet to come out of this in relation to the pending court cases for those accused in other matters regarding that club. The Judge didn't have the balls to make the right decision , maybe a level of car parking fines punishment is more suited. Let them have their moment of victory, however, they may have won a battle but the struggle goes on and who knows what is around the corner with SG laying his rightful claim to the land surrounding the club, this may be disappointing now , but their future is not bright , they can bask in the knowledge that they cheated so many tax payers in the country when at a time when local services are being cut to the bone , schools budgets being reduced and hospitals laying off 600 people , I'm sure they take huge pleasure and satisfaction in their decisions to rip so many people off , if that brings them joy so be it, It's distasteful that they act in such a way and I am sure "The best fans" in the world will be just so proud of that record , if this was SFC as a fan for over 40years I wouldn't **** on them if they were on fire and feel ashamed that the club could act in such a way. Best of British to them, what comes around ..............

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View From The Top

View From The Top

Posted
Posted
you're right, but on the other hand it should have ended a long time a go! As I said a few pages back, Pompey are an unflushable turd.

 

It should have ended in liquidation, but it didn't.

 

Thankfully we still have months of enjoyment to come but no doubt Nick will inform us all that they are going back up as champions.

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Trader

Trader

Posted
Posted
Irrespective of the outcome, the vast majority of right thinking people know this outcome is a sham. Publicly they have been dragged through the mud, PL accusing them of not being honest, negative national coverage of the case plus the fact the could not conjure up the balls to argue their case with any reasonable facts more on a begging bowl pleading crocodile tears don't liquidate us.

 

IMHO, more is yet to come out of this in relation to the pending court cases for those accused in other matters regarding that club. The Judge didn't have the balls to make the right decision , maybe a level of car parking fines punishment is more suited. Let them have their moment of victory, however, they may have won a battle but the struggle goes on and who knows what is around the corner with SG laying his rightful claim to the land surrounding the club, this may be disappointing now , but their future is not bright , they can bask in the knowledge that they cheated so many tax payers in the country when at a time when local services are being cut to the bone , schools budgets being reduced and hospitals laying off 600 people , I'm sure they take huge pleasure and satisfaction in their decisions to rip so many people off , if that brings them joy so be it, It's distasteful that they act in such a way and I am sure "The best fans" in the world will be just so proud of that record , if this was SFC as a fan for over 40years I wouldn't **** on them if they were on fire and feel ashamed that the club could act in such a way. Best of British to them, what comes around ..............

 

Nah, it's the end of the game - they have got away with it - and have given all clubs wanting to go down that path a blueprint of how to get away with it.

 

A precedent has now been set and HMRC will not want to get their nose bloodied yet again.

 

As I said earlier, football is now bullet-proof and will now really go on the rampage.

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Chez

Chez

Posted
Posted

maybe its a blessing that the skates won this case and are now regarded nationally as the cheats that got away with it. Better that than a liquidated club that is reborn (as AFC Wimbledon was) to be widely supported by the footballing community (as AFC Wimbledon is).

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Sour Mash

Sour Mash

Posted
Posted (edited)
Exactly, this is one of the things I've thought all along, why do posters on this thread have so much faith in HMRC? Wouldn't put it past them at all to f**k up.

 

Said it all along, why were so many on here confident at the HMRC's legal ability? Not unlike a big, public, bureaucratic organisation to stuff up something like this. Hopefully we'll hear a bit less from the "experts" on here and fingers crossed for many more years of suffering for the blue few.

Edited by Sour Mash
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Sour Mash

Sour Mash

Posted
Posted
maybe its a blessing that the skates won this case and are now regarded nationally as the cheats that got away with it. Better that than a liquidated club that is reborn (as AFC Wimbledon was) to be widely supported by the footballing community (as AFC Wimbledon is).

 

Kind of agree with that, they'd have loved being a "martyr" and becoming some sort of "peoples club", hopefully they'll now rot for years, rather than being able to rise from the ashes as a new "phoenix" type club.

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trousers

trousers

Posted
Posted
Nah, it's the end of the game - they have got away with it - and have given all clubs wanting to go down that path a blueprint of how to get away with it.

 

A precedent has now been set and HMRC will not want to get their nose bloodied yet again.

 

As I said earlier, football is now bullet-proof and will now really go on the rampage.

 

This

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Foxstone

Foxstone

Posted
Posted

Afraid thats It for this installment.

 

They won on a technicality and because of an incompetent HMRC brief..

 

But they will be regarded in a much less favourable light by the footballing world, and there is fun and games to go with servicing their CVA obligations and the Chanrai v Gaydamak scenario might be entertaining.

 

Lets move on and support our much more honourable club! I'm sure the next time we will meet them on the pitch we will thrash them anyway

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Viking Warrior

Viking Warrior

Posted
Posted

Alpine is right , The judiciary are at fault and so weak willed. Play the victim card and you will always win.

lets see how much huntley gets as compensation. He should get the same QC on to his case the slimy cheats used.

 

So is it true I can screw the HMRC by having my image rights in an off shore account.

also what about the charity and the small caterer who is only getting 20p in the pound when these prima donna stars are going to get the full whack

Sol bloody campbell and co I hope yur all pleased with yourself how about donating your windful to charity.

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angelman

angelman

Posted
Posted

So what is Chainrai going to do with it? OK there are some parachute payments left to come, but footballing debts of, what, £50m, no squad and a **** ground, still doesn't add up to much. The embargo is still in place until all footballing debts are paid off. In order to do that Chainrai will have to dig deep, which while he may loan the money to the company (no doubt with a decent interest rate), will he be prepared to do it? I still don't see why anyone would buy the club with it's secured debt, as well as the unsecured debt, as there is nothing to buy.

 

It will be interesting to see what Chainrai does. I suppose he can pay off all the debt, ship in lots of overpaid players (mercenary pieces of **** that they are) and get promoted. That would be galling but I really can't see that happening. Promotion from the Championship isn't that easy and there is no squad in place yet. Having been told that they were trading while insolvent months ago, I am not quite sure that I really understand how they have got to this position. I hope that the Tax Payers Alliance might have something to say about this.

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S-Clarke

S-Clarke

Posted
Posted

****s. That's all there is to say.

 

watch them now go out of admin, start buying players and win promotion.

 

For all the utter ******** that they have done over the last few years, they have just been given help and support all the way. Sick

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JackFrost

JackFrost

Posted
Posted
So... how likely is it that they will pay the PAYE and NI on the next month's wage bill? What's to stop them holiding up two fingers to HMRC? (again)

 

If they don't won't that break the CVA, meaning that HMRC can drag them back to court again?

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Whitey Grandad

Whitey Grandad

Posted
Posted
If they don't won't that break the CVA, meaning that HMRC can drag them back to court again?

 

I'm not clear what happens regards regualr tax payments and other outgoings when a company is in administration. Presumably it gets difficult to obtain any form of credit, but if you don't pay you taxes what redress is there for HMRC?

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View From The Top

View From The Top

Posted
Posted
****s. That's all there is to say.

 

watch them now go out of admin, start buying players and win promotion.

 

For all the utter ******** that they have done over the last few years, they have just been given help and support all the way. Sick

 

FFS. This DOES NOT mean the embargo is going to be lifted.

 

They still have to raise £15m from player sales to service the CVA.

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trousers

trousers

Posted
Posted
Having been told that they were trading while insolvent months ago, I am not quite sure that I really understand how they have got to this position

 

That's the bit I'm not understanding either.

 

The case that was brought to the court by HMRC always had a fairly narrow remit in the general scheme of things. (i.e. Challenging the nitty gritty of the CVA) whereas the 'bigger picture' misdemeanour is surely the perceived wisdom that they were trading whilst insolvent? In other words, they were breaking the law of the land - pure and simple?

 

Which begs the question....who's responsibility is it to report this overriding 'crime'? The government? The office of fair trading? Company's House?

 

Or is it, if we (the general public) perceive it to be the case that we have perceived a corporate crime are we duty bound to pop down to the local nick to report said crime?

 

How does it work? How does a company that is perceived to be trading whilst insolvent get called to account?

 

Perhaps this trial has been a smokescreen for the 'real' misdemeanour ?

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OldNick

OldNick

Posted
Posted
If they don't won't that break the CVA, meaning that HMRC can drag them back to court again?

 

I tell you if that QC for the HMRC had Hitler and all his cronies in the dock about war crimes, they would walk away with their reputations untouched.

So don't hold your breath for any future court appearances.

Let them get htier teeth into real wrongdoers, an old widowed lady who has filled her tax return in incorrectly for example.

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Wibble

Wibble

Posted
Posted

I doubt this circus is done yet, we have the tax evasion cases to look forward to still.

 

The transfer embargo wont be lifted overnight either.

 

 

On a side note they showed this really ugly skate who looked like Wurzel Gummidge ( wearing his bad hat wearing head) playing the trumpet outside the courts on both SSN and Meridian Tonight - I nearly fell on the floor when I realised it was a female - Jeez TCWTB has some serious competition from the TTWTT - The Tranny with The Trumpet.

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