Pay Up Pompey,Pompey Pay Up!

[Power to people]

I'm sure that AA was only doing the right thing and keeping another from the dole queue

[pauld]

Bumpity-bump

AA still shit-hot on the paperwork, Pompey fans dead impressed:

http://www.fansonline.net/portsmouth/mb/view.php?id=304973

[ghanimah]

The warnings from the Swindon fans are unfolding before our very eyes.

Oh yes indeedy

[Nemo]

His approach to paperwork sounds a lot like mine

"This? Oh, I'll do it later" and putting it in a pile.

[Gethimout]

His approach to paperwork sounds a lot like mine

"This? Oh, I'll do it later" and putting it in a pile.

AKA - i'll file it away in B.I.N!

[ghanimah]

It's not going well...

PORTSMOUTH could go out of business by next Monday after the Football League refused to sanction the club’s move out of administration.

Administrator Andrew Andronikou delivered a severe warning that the surprise decision, taken at the league’s monthly board meeting, has pushed the Championship outfit to the brink of extinction.

The league have refused to lift the administration restrictions until Portpin, the company owned by prospective purchaser Balram Chainrai, have given up their security, believed to be in the region of £15million.

Chainrai is the only potential buyer and, if he pulls out, the doors at Fratton Park could be slammed shut forever soon after tomorrow’s home game against Watford.

http://www.dailyexpress.co.uk/posts/view/205484/Pompey-are-on-the-brink-of-administration-again/#

[pauld]

More sabre-rattling from Andronikou. The irony is, if they'd had a proper administrator who shut his yap and got on with the job of saving the business and protecting creditor's interests (instead of a discredited former owner), they'd be in CVA under new ownership by now and able to get on with the process of rebuilding. And they wouldn't need to still be paying AA that £1.5m pa in fees. That makes Winston Bogarde look like good value

[Phil_S]

If & When their Trust start saying or doing things they will no doubt be labeled busybodies

[Barry Scott]

What I don't understand is he is supposedly some sort of professional and aware of what his job is. I know very little about it, but surely it's regulated and his employers, being quite large can't be completely stupid, so how is he still in a job and allowed to go on with this celebrity-quest/publicity-exercise that we more commonly refer to as administration?

I hate him so much and am shocked at how this man is allowed to use football clubs as some sort of publicity vehicle for the after dinner speech circuit. Did nobody see what he did here? Does nobody see what he's doing there? Is nobody monitoring this joker?

I can only imagine he must be amazing behind the scenes, because to me all he does is act like the focal point he believes he is while trying to make everyone aware that he's some sort of administration jesus.

[Batch]

Andronikou would make a great politician. Promises the world, delivers nothing. Costs a fortune to employ.

[pauld]

What I don't understand is he is supposedly some sort of professional and aware of what his job is. I know very little about it, but surely it's regulated

Not so's you'd notice. It's nominally under the supervision of the court that appointed him, but pretty much the only recourse creditors have is to go back to the court. Doing that is pretty expensive and runs the risk of collapsing the administration/CVA (depending on what stage you're at) so he can do what he did here to several creditors "Shut your fucking yap or you'll get nothing" (I'm paraphrasing but not by much). Good insolvency practitioners of which there are many (including our own Brighton red I believe) rightly get considerable latitude to rescue failing businesses, sadly the flipside is that there's very little to protect creditors from the machinations of those who think this is carte blanche to do what the fuck they like.

and his employers, being quite large can't be completely stupid, so how is he still in a job and allowed to go on with this celebrity-quest/publicity-exercise that we more commonly refer to as administration?

As for his employers, they're raking in £1.5m in fees from his tomfoolery so from their point of view he's doing a great job. Same as he did with us when he outstayed his welcome by two years by fucking about over signing off our CVA - Hacker Young were picking up fees for that all the time.

I can only imagine he must be amazing behind the scenes

Apparently not. Speaking to those who've dealt with him, he's even less professional in private. Difficult to believe, I know

[pauld]

If & When their Trust start saying or doing things they will no doubt be labeled busybodies

That happened months ago.

[Summerof69]

Pompey fans should be thankful that the other Greek, a certain Diamond Mike, hasn't turned up to act as consultant/general manager/programme printer (delete as appropiate).

[ghanimah]

Pompey fans should be thankful that the other Greek, a certain Diamond Mike, hasn't turned up to act as consultant/general manager/programme printer (delete as appropiate).

Yet...

[Samdy Gray]

You wait, they'll be turning out in DGI kits soon...