Pay Up Pompey,Pompey Pay Up!

[jonny72]

When Sky asked Andronikou about it he said he thought HMRC were just "crossing their i's and dotting their t's".

[Oaksey Moonraker]

When Sky asked Andronikou about it he said he thought HMRC were just "crossing their i's and dotting their t's".

And he's 'not unduly worried'. Sound Familiar?

[suttonred]

I've just read they think they  might not get docked points, and hope to sell some players and then have them loaned back by the buying teams. They really are in la la land.

[alanmayes]

It is understood HMRC objects to the club's move into voluntary administration and will seek to have the club wound up.

Reports suggest that HMRC has questioned whether Balram Chainrai had the legal right to put the club into administration.

Andrew Andronikou, the administrator in charge of the stricken Barclays Premier League club, was informed of the latest development today.

Despite uncertainty over the nature of HMRC's objection, Andronikou is confident Portsmouth will continue down the route of administration as planned.

'We're having to go to court to show that the debenture is valid,' he said.

[RedRag]

Remember a great game at the CG around 1977 when Chris Kamara made his home debut against Pompey. Scored a diving header in the Bank in a 3-1 win.
My first real experience of trouble at football having boarded the train at Didcot full of Pompey.
When Kammy's goal went in the Pompey fans didn't just stand and clap.............they were nuts in them days.
I

There sure were some sparky contests - I always remember being slightly shocked that Kammy was the victim of racist chanting from the Pompey fans - not shocked by the racism in those days to be honest (never liked it) but by the fact they could make monkey noises at a player who had done well for them.

 Could be fun to be playing them again sooner than we might have imagined

[Bogus Dave]

have they been docked points yet?

[alanmayes]

There sure were some sparky contests - I always remember being slightly shocked that Kammy was the victim of racist chanting from the Pompey fans - not shocked by the racism in those days to be honest (never liked it) but by the fact they could make monkey noises at a player who had done well for them.

I can't remember another Town player ever getting such abuse from his former teams fans.
It seemed to be open house with their racist abuse of Kammy.

The monkey chants were bad enough,but if you think it was bad when we played them at
the CG,it was far worse down at Fratton Park.Kammy had to put up with both the monkey
and N***** chants.It was really nasty.

Fortunately,when we played them again in the League Cup in 87, it had disappeared.

[jonny72]

have they been docked points yet?

No, they've postponed a decision until after the court hearing tomorrow.

[pauld]

I've just read they think they  might not get docked points, and hope to sell some players and then have them loaned back by the buying teams. They really are in la la land.

That's not "they" though, that's all Andronikou.

One assumes HMRC are challenging not so much the fact of administration as the voluntary administration - i.e. HMRC want to appoint their own administrator. Shocking to think they don't seem to have faith in Mr Andronikou to do a stand-up job for them after the sterling job he did for all the creditors here

[jonny72]

Based on the experts Sky have wheeled out the consensus is that no one knows what grounds HMRC are challenging it on, let alone what will happen though it is unlikely they'll be wound up on the spot. They also thought that HMRC are really, really pissed as this is an unusual step for them to take and shows they're going to do everything they can to get their own way.

I wonder if they will go as nuclear with other clubs that owe them money, or if they're going to town as its a PL team.

[pauld]

Based on the experts Sky have wheeled out the consensus is that no one knows what grounds HMRC are challenging it on

On the grounds of legal validity:

HMRC is expected to argue that Portsmouth owner Balram Chainrai did not have the power to tip the club into administration, a move that has left him as a preferred creditor who may recoup much of the £17million-£20million he lent the club.

http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/7346808/Portsmouths-administration-challenged-in-court.html

What's uncertain is what their desired outcome is - whether they want to get rid of the administration order altogether or impose their own (and so get the right to appoint their own administrator).

[jonny72]

They just did a piece on Cattermole (or whatever his name is) who is looking to buy Pompey, on Sky. He reckons he gave Pompey proof of funds to the tune of €200m. An executive from Pompey said it was from a financial institution that no one had heard of so they asked for more proof and a meeting. Instead of a meeting Cattermole sent along a representative who apparently was only 22 years old. When Pompey asked to meet at his office the kid said I don't have an office, we'll have to meet at my dad's house. Priceless.

[pauld]

They just did a piece on Cattermole (or whatever his name is) who is looking to buy Pompey, on Sky. He reckons he gave Pompey proof of funds to the tune of €200m. An executive from Pompey said it was from a financial institution that no one had heard of so they asked for more proof and a meeting. Instead of a meeting Cattermole sent along a representative who apparently was only 22 years old. When Pompey asked to meet at his office the kid said I don't have an office, we'll have to meet at my dad's house. Priceless.

Assuming any of its true of course - bear in mind they clearly don't want to sell to the guy, so there'll be a load of spin here, especially where Phil Hall (the poor man's Max Clifford) is involved. Although the New Zealand Securities Commission seem to think Cattermole is dodgy as fuck - they put out an official warning that no-one should invest in his company as it's basically a pyramid scheme and unlawful in NZ.

[RobertT]

If nothing else, this move by HMRC suggests that exiting via a CVA seems a bit unlikely right now, which would cause a further points penalty at the start of their Championship season in August.  If they are not careful they could slide right through to our league pretty sharpish.

[Batch]

Consensus on the radio was that the administration being sanctioned was a formality, and this was the HMRC firing an opening salvo in a bid to challenge the 'football debts first' ruling.  They didn't elaborate on what the likely course of events would be though.