Portsmouth Admin

[Dirk Gently]

Also, if a club entering the Football League from the other end (i.e. the Blue Square) were in administration during the close season would the FL have any obligation to accept them as members?

No they don't.

In fact, there is a specific rule in the FL rule book that says teams in administration are NOT allowed into the FL; obviously designed for the scenario where a team is promoted from the Conference and conveniently forgotton about/ignored in the case of a team getting relegated from the Premier League.

There's a certain amount of hypocrisy here, since basket-case clsbs coming from the FL into the Conference get far more leniency in the rules than clubs already in the conference - compare and contract the chances Chester City got with the treatment handed out to Salisbury.

[wolsey]

Published Date: 15 July 2010
By David Hurley
...

It is also unhappy Pompey's administrators have reduced HMRC's claim from £37m to £24m.

This bit gets me. How can the administrators determine how much is owed to HMRC? Surely that is down to HMRC and/or the courts to decide?

They dispute (without any real justification) that the fine that HMRC have levied for non payment of VAT is justified (Despite the penalty regime being written into the relevant VAT legislation)

Sums Mr Dodgy Administrator up to a tee - let's forget the idea of accruing for any known possible/probable liabilities and instead go for the "Trust me - it's OK everything will be fine" message to the fans and the management that he is serving.

[URZZZZZZZZ]

Sonko's signed for them now. How?

[CMRoyal]

Sonko's signed for them now. How?

Loan. Still to be ratified though.

[Wycombe Royal]

Sonko's signed for them now. How?

Loan. Still to be ratified though.

They apparently are being allowed to sign players to give them a maximum squad size of 20. Loans and frees only I believe and each signing has to be ratified.......

[Barry the bird boggler]

Well there's a surprise the FL have a transfer embargo that has loopholes

[TFF]

http://news.bbc.co.uk/sport1/hi/footbal ... 839169.stm

Portsmouth should have their fate decided before the start of the season after a court agreed to speed up HM's Revenue and Customs' appeal process.

HMRC lodged papers on Monday in an attempt to prevent the club coming out of administration.

Pompey chief executive David Lampitt told BBC Radio Solent: "We've been in court to seek an expedited process.

"I understand the court has agreed to that, which means we should have the hearing before the season's start."

Lampitt continued: "I'm yet to hear about the date for that hearing, but we should know within the next 24 hours."

The ruling comes after Pompey saw a Company Voluntary Agreement (CVA) approved last month which would mean unsecured creditors would be repaid 20p in the pound, but HMRC appealed against the decision.

They claimed that the amount of money that they are owed is sufficient to allow them to block the CVA, and thwart the club's attempts to escape administration.

Andrew Andronikou, the club's administrator, said he had expected HMRC to appeal against the decision and had feared that the case may not have been heard until October or November.

That would have meant the club would have remained under a transfer embargo for the first two months of the season.

But this latest ruling should now ensure that the club will hear its fate before the start of the Championship season on 7 August.

"We have been trying to get the appeal process heard as quickly as possible," continued Lampitt.

"Obviously we believe that it's firmly in everyone's interests for that to happen, but in particular for the future of the club."

For a CVA to be agreed, it must win the support of those owed at least 75% of the unsecured debt. The vote on 17 June saw the agreement win 81.3% of the vote.

But HMRC argues that £13m of debt was left out of the original calculations; if the £13m figure is included, says the HMRC, it would then have more than the 25% of the debt it needs to block the CVA.

[Row Z Royal]

What's this other £13m? Just a tax bill?

[Royal Rother]

Penalties for late / non / incorrect submissions it seems.

[PieEater]

Penalties that are the law and that everyone else pays if they are late. So Pompey should be ok then.

[Barry the bird boggler]

I see Pompey have applied to the court to have this case expedited and heard before 7th August....

Let's hope the HMRC have a watertight case.

[Ian Royal]

HMRC have basically applied a penalty of an amount = to the actual debt (which apparently they are able to do) Pompey appear to be ignoring this and setting their own penalty fine from HMRC, conveniently below the level at which HMRC has a 25% share of debt.

When I say Pompey, I do of course mean the completely and utterly independent and stirling example of an Administrator who has never done anything dodgy, at all. Ever. Honest.

[6ft Kerplunk]

I see Portsmouth are keeping a tight rein on finances this season by heading off to the states for their pre-season tour. Much cheaper to take the remaing senior players and kids there than playing some local friendlies. Or it will look that way once the Administrator has done the accounts.

[gazzer, loyal royal]

I see Portsmouth are keeping a tight rein on finances this season by heading off to the states for their pre-season tour. Much cheaper to take the remaing senior players and kids there than playing some local friendlies. Or it will look that way once the Administrator has done the accounts.

this hasn't been paid for by the club

[6ft Kerplunk]

They don't actually pay for anything do they, just buy stuff on the credit card and ignore the bills.

[Dirk Gently]

From talking to a group of Pompey fans this weekend it appears that at least some of the disputed sum is for tax on payment for "image rights" - HMRC see this as a test case, and if they win with Pompey the sums they'll be able to claim from PL clubs will be phenomenal.

[Silver Fox]

That's exactly what it is, 'twas all in last Sunday's (18th!) NotW

[Who Moved The Goalposts?]

From talking to a group of Pompey fans this weekend it appears that at least some of the disputed sum is for tax on payment for "image rights" - HMRC see this as a test case, and if they win with Pompey the sums they'll be able to claim from PL clubs will be phenomenal.

But haven't they already won a test case on this a couple of years back when they got Arsenal to pay several million?

[Stranded]

Hearing scheduled for the 3rd August.

[Geekins]

Hearing scheduled for the 3rd August.

Typical - Before the new season so they could get away without a points deduction