Pay Up Pompey,Pompey Pay Up!

[Power to people]

HMRC have confirmed that they accept Andronikou as the administrator, I assuem this means that the court case has now been cancelled and he can get on with selling pompey to Diamandis

[Batch]

I guess they'll be 9 points lighter soon then

[Power to people]

This made me laugh......I'm sure he done all this at Swindon as well with his mate Diamandis who gives him some business

Pompey's administrator is to investigate payments made between the club and a London law firm which employed former director Mark Jacob.
Andrew Andronikou said he has two members of staff investigating transactions between Pompey and law firm Fuglers between October last year and January.

He said the payments were 'unexplained' and that he was duty bound to investigate them

Full story:

http://www.portsmouth.co.uk/frattonlatest/Administrator-to-probe-Pompey-payments.6147409.jp?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+FrattonLatest+%28The+News+-+Fratton+Latest%29

[pauld]

HMRC have confirmed that they accept Andronikou as the administrator, I assuem this means that the court case has now been cancelled

As I understand it, the court hearing will proceed but HMRC will formally drop their challenge to the administration order at that hearing. Guardian reporting today it's not so much they accept the original administration order (or Chainrai's ownership, presumably) as that they see no financial benefit in pursuing a point of principle. And as they're legally bound to get best value for the taxpayer, they can't proceed on principle alone.

Rumours on Pompey sites today that Storries finally walked (or been pushed)

[Nemo]

BBC reporting now that Storrie has gone.

[jonny72]

Guardian reporting today it's not so much they accept the original administration order (or Chainrai's ownership, presumably) as that they see no financial benefit in pursuing a point of principle. And as they're legally bound to get best value for the taxpayer, they can't proceed on principle alone.

My understanding of HMRC is that getting back as much of the money they are owed is seldom their priority.

There are two reasons for this. Firstly, if a business is running up more debt they want to shut it down before it can run up even more debt to them. Secondly, they want to send out a message to other businesses that they have to pay their bills on time or they will shut them down. In the long term both of these points will actually mean more value for the tax payer.

Besides, I know for a fact they will have a business wound up even when they won't get back enough money to cover the costs incurred in winding it up and when there are other options presented to them which will give a better return. HMRC is all about principle and you really don't want to fuck with them.

[pauld]

My understanding of HMRC is that getting back as much of the money they are owed is seldom their priority.

There are two reasons for this. Firstly, if a business is running up more debt they want to shut it down before it can run up even more debt to them. Secondly, they want to send out a message to other businesses that they have to pay their bills on time or they will shut them down. In the long term both of these points will actually mean more value for the tax payer.

Besides, I know for a fact they will have a business wound up even when they won't get back enough money to cover the costs incurred in winding it up and when there are other options presented to them which will give a better return. HMRC is all about principle and you really don't want to fuck with them.

I wasn't suggesting anyone would want to fuck with HMRC! I was paraphrasing (perhaps badly) what was in the Guardian's Digger column, which has clearly come from a briefing, probably from within HMRC to give an unofficial spin on why they're backing down on what was a very bullish stance re the administration order. How true it is, is another matter. Nonetheless, it does seem to point to HMRC having more confidence they will actually recover some of the debt they're owed which points to them having been shown some kind of information indicating Pompey will be a viable business going forward. Which has to be good news for Portsmouth fans, I'd have thought.

[jonny72]

I would imagine that the only reason HMRC have backed down is because they knew they wouldn't win.

[suttonred]

BBC reporting now that Storrie has gone.

But staying on in a consultancy role. Any bets the invoices will total what he would have  earned anyway?

[pauld]

Nationals starting to push at the door of what's been going on down there:
http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/7423568/Portsmouth-administrators-investigate-missing-millions.html

And from the looks of this (which IS very thoroughly researched), this could just be the tip of the iceberg:

http://fansonline.net/pompey-fans/article.php?id=174

[mexico red]

fuck me sounds like a film! does this mean storie is sleeping with the fishes?

[pauld]

fuck me sounds like a film! does this mean storie is sleeping with the fishes?

I think the fishes knocked him back

[pauld]

New owners in the offing?

http://www.telegraph.co.uk/sport/football/leagues/premierleague/portsmouth/7437654/Portsmouth-fans-set-to-eye-new-owner-Rob-Lloyd-with-caution.html

Hope for their sake this guy's more Andrew Fitton than Jim Little.

Meanwhile, the News of the Screws coverage provides a splendid opportunity for a caption competition:
[url width=516 height=350]http://www.newsoftheworld.co.uk/multimedia/archive/00099/AndrewAndronikou_516_99393a.jpg[/url]
AAAARRGGGGHHH! I spy Busy-Bodies!

[pauld]

[url width=516 height=350]http://www.newsoftheworld.co.uk/multimedia/archive/00099/AndrewAndronikou_516_99393a.jpg[/url]
Fucking hell! Just remembered, I completely forgot to sign off Swindon's CVA!

[Simon Pieman]

Fuck, is that Narkis over there?