Pompey Takeover Saga

[Shrek]

Surely the CVA doesn't start until the club has an owner? And they can't have an owner until they are out of admin. And the FL hasn't allowed them to come out of admin yet lol

[PaulSaint]

Havent the FL already issued minus 2 point deductions to clubs who have gone into admin for a second time e.g. Luton, Leeds? At the very least PFC should get the same?

 

[tony13579]

What about use of an unregistered agent?

[Gemmel]

I was thinking I had read it doesnt start until they actually exit Admin but wasnt sure. So when will the 1st payment be due if they were to come out of admin in this month?

 

Payments for the CVA start 9 months after it was agreed.

From a points deduction persepctive, the key date in all of this is whether that date is when is was agreed or when it was ratified (After the court case)

[Wibble]

I guess their reply was quick and covered all points raised in a fullfilling manner.

 

EDIT: Just realised that was your reply!!!!!

 

No, you were correct first time, that reply was indeed from the FL - I'm guessing that they have a set reply ready that covers it all.

[saintjay77]

Payments for the CVA start 9 months after it was agreed.

From a points deduction persepctive, the key date in all of this is whether that date is when is was agreed or when it was ratified (After the court case)

 

OK, I cant remember what month they got the CVA agreed but if that is the date the 9 months starts from and for arguments sake lets say we are now 9 months further on, how can they make a payment when they are not yet out of admin? Does that 1st payment just get rolled back until they actually exit Admin?

 

So if they come out of admin in Dec and that is 3 months after the 1st payment was due, they just pay it then and all is back on track? Or would creditors be able to come back at them as soon as that 9 month deadline is due and they fail to pay?

[saintjay77]

No, you were correct first time, that reply was indeed from the FL - I'm guessing that they have a set reply ready that covers it all.

 

Yeah I thought you had coppied the reply they had sent out months ago to someone elses questions. As soon as I posted my sarky dig at the FL I realised it was the same reply but to your questions!! So while the reply was as crap as I expected my Sarkyness was as usful as a chocolate tea-pot.

[andysstuff]

Payments for the CVA start 9 months after it was agreed.

From a points deduction persepctive, the key date in all of this is whether that date is when is was agreed or when it was ratified (After the court case)

I thought the first payment was nine months after exiting admin?

[saintjay77]

What about use of an unregistered agent?

 

 

Yeah that goes into the same pot as the Tax evasion cases. Points for this Administration are going to be pretty hard to come by. It has to fail and they have to survive a future liquidation attempt to get more points for any Administration now.

 

- Points for the other cases are possible but all have to be proved 1st. 3 people being charged for the Tax evasion should give the HMRC better odds to make something stick. Proving the unregistered agent IMO might get swept under the carpet by the powers that be as the FA dont seen to have the backbone to let a club fail.

 

It was the FA or Prem I think that persuaded the other Prem clubs to let Pompey get help as the other clubs by then wanted to let them fold back then.

[Gemmel]

OK, I cant remember what month they got the CVA agreed but if that is the date the 9 months starts from and for arguments sake lets say we are now 9 months further on, how can they make a payment when they are not yet out of admin? Does that 1st payment just get rolled back until they actually exit Admin?

 

So if they come out of admin in Dec and that is 3 months after the 1st payment was due, they just pay it then and all is back on track? Or would creditors be able to come back at them as soon as that 9 month deadline is due and they fail to pay?

 

I think March is when the first payment is due and yes, if they missed that payment then creditors probably could follow the process through to liquidation. The reality is that is the only payment that that holds any issues, as by the time the next payment is due, the old company will have been wound up and the new company simply taken on the CVA as a debt.... Which if they missed, wouldnt wind them up, it just means the whole process could start again.

 

Old loose lip andriod let it slip that the club wouldnt technically be out of adminsitration, until the company was killed off. Which puts a very interesting slant on it for points deductions. Of course he has since changed his mind, but there might just be something in..... It would be heartbreaking if they survived only to be relegated by a points deduction.

[buctootim]

At risk of ignoring the points made in 33,000 previous posts, I still dont get why the £48 million in parachute payments isnt ringfenced for the creditors, whilst Pompey are made to play using whatever resources they can generate themselves.

[Saint_John]

I posted the following last week saying I had sent an email to the FA about the ".. I done him FIRST with an elbow..." quotes on Radio Solent.

 

You can also hear him say some of those words on BBC Radio Solent

http://www.bbc.co.uk/iplayer/console/p00b8fxz/Julian_Clegg_04_10_2010

(between 49:50 and 50:33)

 

I've sent a question to the FA asking them why he hasn't been charged !

 

but after :- 2 Bank Accounts (remember Luton); Dan Azougy; Unlicenced Agent (Chris LeBesque) plus all those other characters in the directors box at Wembley I expect the FA will just turn a blind eye and say something about the CHEATS FC playing by different rules.

 

The FA have finally replied with

Dear John,

 

Thank you for your email.

 

The matter was reviewed and the footage examined. It was concluded that there was insufficient evidence to warrant a charge of violent conduct.

 

Kind regards

 

So a cheat fc player says on the radio " I done him FIRST with an elbow" and the FA says ".. insufficient evidence".

 

WHAT A JOKE THE FA ARE.

[benjii]

At risk of ignoring the points made in 33,000 previous posts, I still dont get why the £48 million in parachute payments isnt ringfenced for the creditors, whilst Pompey are made to play using whatever resources they can generate themselves.

 

Well, I think that was the point that the alternative CVA the other firm prepared was trying to get at. It does slightly ignore one commercial reality though which is that if that £48m was ringfenced no one would be interested in owning PFC.

[rallyboy]

.......so without a new owner is AA using extended admin as a safe harbour protecting the company from any further liquidation attempts, until the new company takes on the debt and is safe from liquidation itself?

 

A gap between the two events would be an opportunity for a unpaid creditor to pounce and push for the death sentence, but all the time they delay the start of cva every unpaid debt is in limbo?

 

Does a cva-approval for a cva that fails to proceed have a time limit before it runs out and it has to go back to court, or is that far too much to hope for?!

[Gemmel]

.......so without a new owner is AA using extended admin as a safe harbour protecting the company from any further liquidation attempts, until the new company takes on the debt and is safe from liquidation itself?

 

A gap between the two events would be an opportunity for a unpaid creditor to pounce and push for the death sentence, but all the time they delay the start of cva every unpaid debt is in limbo?

 

Does a cva-approval for a cva that fails to proceed have a time limit before it runs out and it has to go back to court, or is that far too much to hope for?!

 

Its a bit heavy but worth a read, about androids previous expereince of when the CVA is not workable.... Indeed this was his own CVA

 

I wonder how long it will be before we hear those magic words "Restructuring the CVA"

 

http://www.twohundredpercent.net/?p=5438

[Clapham Saint]

Until the administration ends all losses incurred are costs of the administration. If AA fails to raise enough funds to cover them by selling the assets then he becomes personally liable.

 

After the club is sold to a new company the running costs are costs to be covered by the new company. Those incurred prior to the sale will remain as costs of the administration.

 

I haven't had the heart to read all of the CVA documentation (I know, I know, I really should), however I beleive that the payments to creditors were based up x pence in the pound less costs.

 

Hmmm...

[Sevvy]

Until the administration ends all losses incurred are costs of the administration. If AA fails to raise enough funds to cover them by selling the assets then he becomes personally liable.

 

After the club is sold to a new company the running costs are costs to be covered by the new company. Those incurred prior to the sale will remain as costs of the administration.

 

I haven't had the heart to read all of the CVA documentation (I know, I know, I really should), however I beleive that the payments to creditors were based up x pence in the pound less costs.

 

Hmmm...

 

They will be lucky to see 1p then

[Clapham Saint]

AA seems to get away with things all the time and must be thought of as sucessful

otherwise the company he works for would have let him go ages ago ?

Could these other financial people be a tiny bit jealous ?

Genuine questions, I am not trying to stir things.

 

Well, has your opinion of insolvency practitioners gone up or down as a result of AA's performance. This makes the bitter taste twice as bad for me.

[tony13579]

If I were in the very small subset of bussiness owners wishing to shake off my huge debts I would have a high opinion of them

costing £1.5m to shake off £60m..... bargin

[benjii]

I posted the following last week saying I had sent an email to the FA about the ".. I done him FIRST with an elbow..." quotes on Radio Solent.

 

 

 

The FA have finally replied with

 

 

So a cheat fc player says on the radio " I done him FIRST with an elbow" and the FA says ".. insufficient evidence".

 

WHAT A JOKE THE FA ARE.

 

I received the same email.

 

I've replied suggesting a charge of Bringing the Game Into Disrepute might be more appropriate.

[rallyboy]

I thought the precedent was set by Roy Keane admitting deliberate violence against an opponent in his book, I believe he was charged.

 

Mokoena has clearly bought the game into disrepute and is so 'honest' he will no doubt plead guilty.

On legal matters, how's the European appeal going?

[Dark Munster]

I think the standard reply is

 

That was mine a few weeks ago when I asked for them to explain a transfer embargo to me

 

Mr Clarke,

 

 

I would be grateful if you could clear up how a transfer embargo works please.

 

I merely ask because I am slightly confused by the fact that Portsmouth Football Club, despite supposedly being under a Transfer Embargo imposed by The Football League, seem to be carrying on regardless.

 

Only this week we have quotes from their manager, who, after revealing they are offering new contracts to 2 players, says;

 

"I need him in that 20, so if I have to sacrifice someone else it's what I've got to do.

 

'It might be a loan out or there might be other things you can do to vacate spaces.'

 

This was a direct quote from The Portsmouth News

 

Now this is not an isolated example of blatant flouting of said embargo as the Administrator, who incidently seems to be a hell of a lot more interested in football matters than he is in his job of administrator, has many times been reported as talking about new contracts and players they tried to buy.

 

I know you will probably reply about having a set amount of players to fulfil their fixtures but that is not what I am talking about here, they are sending players out on loan and then replacing them with others, surely even an idiot can see it's rule bending to suit.

 

Seems "special dispensation" gets around all the set rules.

 

Portsmouth Football Club are a perfect example of how to run up huge amounts of unserviceable debts and then wipe them out by playing the Administation card, it is a disgrace and they are making a mockery of your League.

 

Why should other clubs work within their budgets if nothing is done to punish the blatant cheating of PFC?

 

 

 

Regards

Nice letter. Shite reply from them.

[Dark Munster]

I think it sums up to the same thing.

 

A club is not alloud to start 2 consecutive seasons in Administration.

 

Kind of forces there hand to come out with the CVA agreed or not before the 2nd season starts. With it and the FL happy, they get there golden share. Without it they have to bargain with the FL to get there golden share in exchange for points penalty's or brown envelopes or something.

 

I think in Cheats FC's case it is pretty clear which of the two is more likely.

 

Cheating, lying bastards.

[Saint_John]

I received the same email.

 

I've replied suggesting a charge of Bringing the Game Into Disrepute might be more appropriate.

 

I have also replied to the FA.

 

I have mentioning the Roy Keane charge (thanks rallyboy)

http://www.thefa.com/TheFA/Disciplinary/NewsAndFeatures/2002/23452

plus a few other issues (Daniel Azougy; Mark Jacob's use of Fuglers; Chris Le Besque) etc.

[Gemmel]

What a shame that would be. Although it might just create one of those spaces that Cotterill keeps going on about.

 

http://www.portsmouth.co.uk/sport/Lampitt-Lawrence-is-going-nowhere.6576263.jp

[Corporate Ho]

I thought the precedent was set by Roy Keane admitting deliberate violence against an opponent in his book, I believe he was charged.

 

Mokoena has clearly bought the game into disrepute and is so 'honest' he will no doubt plead guilty.

On legal matters, how's the European appeal going?

 

**** me you ****s are pathetic

[Colinjb]

**** me you ****s are pathetic

 

As pathetic as your bank balance?

 

I take it the stadium plans, signing of Kaka and employement of Maradona are all going to plan? With all this in the works I wouldn't worry too much about Liam Lawrence wanting out.

[Kingsbridge Saint]

What a shame that would be. Although it might just create one of those spaces that Cotterill keeps going on about.

 

http://www.portsmouth.co.uk/sport/Lampitt-Lawrence-is-going-nowhere.6576263.jp

 

Hope Lawrence breaks his leg, the ****.

[washsaint]

Dear Lord.....not often I would agree with Skates, but not having read this thread for a long time would it not be humane to put it down? SOme of the stuff on here does not reflect well...who gives a monkey's t**s about what Skates players get up to andf wishing broken legs on a player is just not on.

[Colinjb]

Dear Lord.....not often I would agree with Skates, but not having read this thread for a long time would it not be humane to put it down? SOme of the stuff on here does not reflect well...who gives a monkey's t**s about what Skates players get up to andf wishing broken legs on a player is just not on.

 

No, this story still has a great deal of distance left to run. The sums behind how they run still don't add up, the amout they are getting away with is still mind boggling and Karma still hasn't taken it's final bite.

 

The leg breaking comment was out of order, but beyond that keep it going!

[suewhistle]

Nice letter. Shite reply from them.

 

Best if any such letters are also copied to all the chairmen of the clubs in the same division..

[Wes Tender]

Dear Lord.....not often I would agree with Skates, but not having read this thread for a long time would it not be humane to put it down? SOme of the stuff on here does not reflect well...who gives a monkey's t**s about what Skates players get up to andf wishing broken legs on a player is just not on.

 

Surely as long as there are people wanting to contribute to the thread and those who wish to read it, then why should the thread be closed? There's still plenty more potential for twists and turns to come and anyway, the reason the Skates have suggested that the thread be closed has more to do with the embarassment they suffer at us having a good laugh at them and their tragicomedic situation.

[Gemmel]

**** me you ****s are pathetic

 

Now now Corpy, no need for such bitterness. Rallyboy was merely pointing out the process and precendent set in situation similar to that of mokoena. Although in this case it earnt you a point, which is tantamount to cheating, but I'm sure they will you keep it. Not sure about the other 12 for tax evasion, but I guess you'll have to cross that bridge when you get to it.

 

Just as a matter of interest how is the European appeal going? I see that Andriod included something about it in his interim report, saying he wasnt sure whether you would continue to pursue the matter through the courts or not,

[Tamesaint]

Surely as long as there are people wanting to contribute to the thread and those who wish to read it, then why should the thread be closed? There's still plenty more potential for twists and turns to come and anyway, the reason the Skates have suggested that the thread be closed has more to do with the embarassment they suffer at us having a good laugh at them and their tragicomedic situation.

 

I agree. After all how else would we be assured that Corp Ho was still alive unless he came on here for his usual rant every couple of weeks against us.

[rallyboy]

methinks Ho doesn't like this thread anymore, he started going off it when one or two of his great ITK claims amounted to diddly squat and his street cred hit zero - and it's still flatlining.

There are ways to behave on an opposition site, humble and self-effacing are quite cool - but blind arrogance and denial is always hilarious.

 

 

Do carry on everyone, it makes me chuckle, and this thread should continue all the time AA's golden goose keeps smearing omlettes all over his little chubby face.

[toofarnorth]

Dear Lord.....not often I would agree with Skates, but not having read this thread for a long time would it not be humane to put it down? SOme of the stuff on here does not reflect well...who gives a monkey's t**s about what Skates players get up to andf wishing broken legs on a player is just not on.

 

If this thread was closed, another would soon take its place as this is still an ongoing matter.

[OldNick]

there will be egg on our faces when the Chinese consortium takes over.....ohh

[Colinjb]

I agree. After all how else would we be assured that Corp Ho was still alive unless he came on here for his usual rant every couple of weeks against us.

 

He does make us laugh so. Shame he cannot share his wisdom more often with us.

[Clapham Saint]

He does make us laugh so. Shame he cannot share his wisdom more often with us.

 

Has his gardening leave finished yet?

[holepuncture]

Milan (theres only one) Mandaric

 

Peter 'a level you wouldnt believe' Storrie - Alexandre 'Gunny' Gadymack - Sasha Gadymack - Andrew Andronikou

 

Dr Sulamain Al Fahim © - Ali Al Faraj - Marc Jacobs - Danny Azougy

 

Avram Grant - Balooo Chainrai

(Subs: Tony Adams, Levis Kushnier, Terry the builder, Local 'Your having a laugh mush' skate, Ahmed Al Faraj, Justice 'fingers crossed Mann)

 

(Manager: Harold 'tax evasion' Reknapp)

 

My all time Pompey Takeover Saga XI

 

Its a great team, real slippery and slimey, ideal for the DFCSB's.

 

Storrie and AA greasing up the flanks, Grant and Baloo keeping the poopey spirit alive.

 

The Gadymacks providing the ammunition in defence.

 

The good doctor and azougy wide off the mark on the wings

 

Al Faraj providing a visible presence in midfield alongside his trusted team mate Jacobs.

 

What a stunning line up!

[rallyboy]

not sure about the subs bench but if anyone needs pulling off at half time Uncle Avram can organise that at Horton Heath.

 

I can see the Gaydamaks being a fiercesome Maginot-style defensive line, behind their line of lumpy grass outside the box where kids will lose their limbs - the war crimes tribunal's answer to the Chuckle Brothers.

Quite a line up but maybe short on pace?

Though I would imagine Storrie will show an astonishing burst when they find the real accounts.

 

I take it in true blue tradition none of these players will be correctly registered, they'll be obtained by mysteriously buying out their contracts elsewhere and will arrive on a bus that will be driven straight through an embargo?

[Gorgiesaint]

What a shame that would be. Although it might just create one of those spaces that Cotterill keeps going on about.

 

http://www.portsmouth.co.uk/sport/Lampitt-Lawrence-is-going-nowhere.6576263.jp

 

'Somebody tipped me off about this rumour yesterday afternoon and I laughed.

 

'In fact, I nearly called Dan Ashworth, who is the technical director at West Brom to see if there was any truth in it.'

 

So Lampitt was worried enough then, he's obviously been taking lessons from AA in how talk absolute b*******s

 

'It doesn't matter anyway because Liam will be signing for us in January permanently, I can reassure the fans of that. He's our player, he's been first class – and long may that continue.'

 

Um sorry David, if he ain't signed for you then he ain't your player - let's just wait & see where he is at the start of February!

Edited 12 October, 2010 by Gorgiesaint

[Corporate Ho]

Now now Corpy, no need for such bitterness. Rallyboy was merely pointing out the process and precendent set in situation similar to that of mokoena. Although in this case it earnt you a point, which is tantamount to cheating, but I'm sure they will you keep it. Not sure about the other 12 for tax evasion, but I guess you'll have to cross that bridge when you get to it.

 

Just as a matter of interest how is the European appeal going? I see that Andriod included something about it in his interim report, saying he wasnt sure whether you would continue to pursue the matter through the courts or not,

 

Why would you think mentioning Andronikou's talk of a european appeal would rile me? Pompey supporters think he's a complete **** who's only there to advance Chainrai's claim to grab as much as he can. Which is what makes me laugh with you silly tarts going on about the "cheats" at Fratton, because although you keep aiming it at the club the people who are doing what you're complaining about are Andronikou and Chainrai (and his bum boy Kushnir), NOT the club itself or the fans. But your bitterness over the media's constant praise of our support and our winning a trophy is so apparent on this thread it's laughable.

 

By the way, if any of you sanctimonious old women were really offended by players bringing the game into disrepute can I ask why you haven't contacted the FA/ FL about a certain glassing incident in your faultless little town last weekend?

 

Give it up girls, whatever the outcome for PFC you're making yourselves look like a bunch of screaming, hysterical queens.

 

PS: Whoever it was asked, the garden leave finished 7 months ago. I'm typing this on a work laptop so if Baj or Granty wanted to compare the ISP with posts I made pre - March please feel free

[Tamesaint]

 

PS: Whoever it was asked, the garden leave finished 7 months ago. I'm typing this on a work laptop

 

Is that the machine that you normally use to type in the orders for Big Macs and Chicken Nuggets??

[Micky]

Ho if you honestly believe that a measure of support, be it by the press or any other agency, is taken from the amount of noise fans make at games then you are sadly mistaken. First and foremost it is the number of bums on seats, you know, those who are willing to dip into their pockets, pay their money and attend the games week in and week out.

 

I have absolutely no bitterness whatsoever about the medias 'praise' of your fans - the only thing I look at in any match report concerning the fans is the attendance figure. Our attendance figures are quite good - could be better, but they are not bad.

[chocco boxo]

When are they going bust?

[Jimmy_D]

Why would you think mentioning Andronikou's talk of a european appeal would rile me? Pompey supporters think he's a complete **** who's only there to advance Chainrai's claim to grab as much as he can. Which is what makes me laugh with you silly tarts going on about the "cheats" at Fratton, because although you keep aiming it at the club the people who are doing what you're complaining about are Andronikou and Chainrai (and his bum boy Kushnir), NOT the club itself or the fans. But your bitterness over the media's constant praise of our support and our winning a trophy is so apparent on this thread it's laughable.

 

By the way, if any of you sanctimonious old women were really offended by players bringing the game into disrepute can I ask why you haven't contacted the FA/ FL about a certain glassing incident in your faultless little town last weekend?

 

Give it up girls, whatever the outcome for PFC you're making yourselves look like a bunch of screaming, hysterical queens.

 

PS: Whoever it was asked, the garden leave finished 7 months ago. I'm typing this on a work laptop so if Baj or Granty wanted to compare the ISP with posts I made pre - March please feel free

 

Maybe because the police are already fully aware of the incident and are investigating in due course?

 

Also see the main board for a discussion on whether he should play for us with that hanging over him.

 

Also, you do realise that the 'praise' of your support is condescending right? Something along the lines of 'awww look at that little club there... their ground makes quite a lot of noise considering the support is ****.'

 

Also, I'm interested to hear what you think would be cheating by the club. One of your players attacking someone on the pitch maybe? Or players on the pitch that the club can't afford? Where do you actually draw the line, make the distinction that magically makes the club clean?

 

And don't bother coming back with what Saints did, we were lucky and some people lost out because of that, I accept that, these are questions about your opinion of Pompey, not Saints.

[Colinjb]

screaming, hysterical queens.

 

The perfect example of 'takes one to know one.'

 

God bless you Corpy.... lets face it, someone has to.

[NickG]

what crowd do they need for cva?

 

last two league games were 13,700 and 14,400

[slickmick]

what crowd do they need for cva?

 

last two league games were 13,700 and 14,400

 

 

65,000