Football RSS Feed Send your news, pictures & videos


Football All the latest news on Southampton FC

Portsmouth to ask for winding-up hearing to be delayed


POMPEY are requesting that the court date about their winding-up order be delayed.

The Premier League club, which was today taken over for the third time this season, outlined the intention in a statement.

Click below to see a video of today's headlines in sixty seconds

The statement read: "Balram Chainrai has exercised a clause in the security arrangement with Falcondrone Ltd to take a controlling interest in Portsmouth Football Club.

"Mr Chainrai wishes to stabilise the club’s situation until new owners for the club are found.

"The security arrangement with Falcondrone Ltd is based on documents drawn up by Fuglers law firm as part of the original draw down of the loan, depositing with Mr Chainrai the original share certificate and a signed but undated share transfer in favour of Mr Chainrai, which could be dated and exercised in the event of default on the terms of the loan agreement.

"Peter Storrie continues as the chief executive officer of the club and continues to run the club. Meanwhile new owners are being found for the long-term future of the club.

"The club will now apply to HMRC to adjourn next week's winding-up hearing to allow time for the club to be stabilised and new owners found.

"New directors will be appointed to the board and Daniel Azougy will no longer be involved with any part of the club.

"The importance and priority is to stabilise the business and give the players, staff and fans of Portsmouth FC confidence that the club will go forward."


Comments(25)

St Retford says...
4:50pm Thu 4 Feb 10

This is exactly what I said would happen in the other thread. Regardless of how the shares are jiggled around, it's still the same company and it still owes the same money to HMRC so Pompey should face them in court.

I'm guessing Chainrai has the resources to at least keep Pompey going in the short term but for how much longer will he pour good money after bad? No one is going to buy that club.

fred the red says...
4:51pm Thu 4 Feb 10

I for one hope the HMRC refuse this request. The situation has not changed sufficiently for there to be any real chance of the club getting itself sorted.
The only reason Hong Kong man has come in is to protect his loan.
I have to pay my income tax and VAT at the right time and so should Poopey.

"Pay up or close up" is the answer I hope HMRC gives him.

Totton Ric says...
5:14pm Thu 4 Feb 10

Lol Lol & more Lol, what a surprise there then, Buying Time springs to mind !!!!

Lone Ranger says...
5:26pm Thu 4 Feb 10

There are doubts about the legality of the takeover and the HMRC. On Virgin Media it says :- ...........Chainrai has taken the 90% shareholding from previous owner Ali Al Faraj after exercising a clause in the agreement relating to a £17million loan made by his company Portpin to the club.

Mark Jacob, the British lawyer appointed to the board by Al Faraj, is however contesting whether the takeover can go through, claiming that neither party has complied with the loan agreement
.
Still with further turmoil the HMRC can only do one thing...wind them up

UTS says...
5:34pm Thu 4 Feb 10

The entire situation has been one big con to decieve numerous parties. Portsmouth FC should be suspended from the premier league until a full foresenic enquiry has taken place on their accounts. The Premier league have been totally mugged off.

My View from the Hill says...
5:39pm Thu 4 Feb 10

So the Skates have been saved by a bloke who is owed £17 million by them, he won't invest any money, he has just asked the tax man to adjourn their winding up order, he has not even passed the league's fit and proper test.

Some saviour that is, the circus rumbles on and on and on, lets all sing together now:-
There is a circus in the town, in the town,
And Grant is the brothel hopping clown, hopping clown,
The tax man wants his money for the crown,
The Skates are still going down, going down.


COYR

saint Compo says...
6:01pm Thu 4 Feb 10

Let Pompey (or should it be Pimpey?) sink beneath the waves.

Ozmosis says...
6:33pm Thu 4 Feb 10

If I owed loads of people money, I'd be declared bankrupt. I fail to see why the HMRC will back off now. Let's not forget that plenty of other people are owed money by Pompey as well so, even if they do, others will take their place. The FA should do the decent thing as well - quite honestly not doing so is bringing the game into disrepute

normsted says...
6:35pm Thu 4 Feb 10

The best thing the FA can do and to save future embarassment is to pull the plug on this very sub-standard soap.
They have no money, they have no assets, They have no future.
How can they let this scandal go on ? How can they hold their heads up and say Portsmouth are an example of how we would like a premiershipclub to be run-its an absolute joke.
Now we have yet another mug stepping up and grabbing the land(fill) to try and recoup his losses, whats the point ?
Just wind it up,shut them down and walk away, its called a "face saving exercise".
Theres only one club in this country that can be held up as a shining example of how a football club should be run- yes no prizes its Southampton FC...............Pim
pey have become a disgrace and are the black sheep of british football.
Flush the toilet-get rid of them

Miltonroadend says...
8:59pm Thu 4 Feb 10

St Retford wrote:
This is exactly what I said would happen in the other thread. Regardless of how the shares are jiggled around, it's still the same company and it still owes the same money to HMRC so Pompey should face them in court. I'm guessing Chainrai has the resources to at least keep Pompey going in the short term but for how much longer will he pour good money after bad? No one is going to buy that club.
Too right!

Its ridiculous - Pompey owe the TAX PAYER ( you and me) Serious cash
this new guy exorcisin (lol) his rights means nothing to the amount owed!!

Court!

slugger says...
9:16pm Thu 4 Feb 10

HMRC...........just say NO !!!!!!

St. Curious Chimp says...
9:19pm Thu 4 Feb 10

..... absolutely ......... incredibly annoying and sooooo frustrating that this joke of a club will most probably get the hearing delayed and then get sorted, why oh why if the HMRC are called in and there is a hearing - then surely this pathetic club should go down the pan !!!! if this does'nt happen then whats the point of having the winding up petition on the 10th Feb 2010, i bet they get the adjournment because they are a so called premiership outfit ................... curiously disgusted with the whole situation, why should they be allowed more time, i thought the whole point of the HMRC when called in is to be unsympathetic to any situation !!!!

Bunman says...
9:31pm Thu 4 Feb 10

St. Curious Chimp wrote:
..... absolutely ......... incredibly annoying and sooooo frustrating that this joke of a club will most probably get the hearing delayed and then get sorted, why oh why if the HMRC are called in and there is a hearing - then surely this pathetic club should go down the pan !!!! if this does'nt happen then whats the point of having the winding up petition on the 10th Feb 2010, i bet they get the adjournment because they are a so called premiership outfit ................... curiously disgusted with the whole situation, why should they be allowed more time, i thought the whole point of the HMRC when called in is to be unsympathetic to any situation !!!!
and how does going down the pan help anyone? Bad for football (hopefully the lessons from this will help change the game (rules, role of the PL etc), bad for us and probably bad for you too! Been looking on this site since the draw to see what's going on at your end and the comments are quite readable! Just can't see why so called 'football fans' are so keen to see a football club go bust!

H0ckeyd says...
9:51pm Thu 4 Feb 10

no chance!!...I think Mr Taxman knows a "re-arranging of the deckchairs on the Titanic" scam when he see's one!

St. Curious Chimp says...
10:01pm Thu 4 Feb 10

Bunman wrote:
St. Curious Chimp wrote: ..... absolutely ......... incredibly annoying and sooooo frustrating that this joke of a club will most probably get the hearing delayed and then get sorted, why oh why if the HMRC are called in and there is a hearing - then surely this pathetic club should go down the pan !!!! if this does'nt happen then whats the point of having the winding up petition on the 10th Feb 2010, i bet they get the adjournment because they are a so called premiership outfit ................... curiously disgusted with the whole situation, why should they be allowed more time, i thought the whole point of the HMRC when called in is to be unsympathetic to any situation !!!!
and how does going down the pan help anyone? Bad for football (hopefully the lessons from this will help change the game (rules, role of the PL etc), bad for us and probably bad for you too! Been looking on this site since the draw to see what's going on at your end and the comments are quite readable! Just can't see why so called 'football fans' are so keen to see a football club go bust!
bunman, i have no sympathy or respect for the team you support, i, like so many have no feelings or sentiment toward your so called team, it has been run like a joke from the start if i have read right, so sorry if your a genuine football fan, i would not speak bad about the supporters but the club you support i would like to see no more of ...... the chimp

Costa Baz says...
10:20pm Thu 4 Feb 10

Bunman wrote:
St. Curious Chimp wrote: ..... absolutely ......... incredibly annoying and sooooo frustrating that this joke of a club will most probably get the hearing delayed and then get sorted, why oh why if the HMRC are called in and there is a hearing - then surely this pathetic club should go down the pan !!!! if this does'nt happen then whats the point of having the winding up petition on the 10th Feb 2010, i bet they get the adjournment because they are a so called premiership outfit ................... curiously disgusted with the whole situation, why should they be allowed more time, i thought the whole point of the HMRC when called in is to be unsympathetic to any situation !!!!
and how does going down the pan help anyone? Bad for football (hopefully the lessons from this will help change the game (rules, role of the PL etc), bad for us and probably bad for you too! Been looking on this site since the draw to see what's going on at your end and the comments are quite readable! Just can't see why so called 'football fans' are so keen to see a football club go bust!
Most of those wishing that your club will go bust are reacting to the bile and spite visited upon us, by Pompey supporters, when we were similarly placed last summer.
You may have been one of them?
Whether you were or not I don't care, but try asking the same question of your fellow supporters.
Also ask yourself why you have conveniently chosen to ignore the comments made by those Saints fans hoping you survive and have focussed on those wanting your club to end.

Ajvsaint says...
10:29pm Thu 4 Feb 10

Costa Baz wrote:
Bunman wrote:
St. Curious Chimp wrote: ..... absolutely ......... incredibly annoying and sooooo frustrating that this joke of a club will most probably get the hearing delayed and then get sorted, why oh why if the HMRC are called in and there is a hearing - then surely this pathetic club should go down the pan !!!! if this does'nt happen then whats the point of having the winding up petition on the 10th Feb 2010, i bet they get the adjournment because they are a so called premiership outfit ................... curiously disgusted with the whole situation, why should they be allowed more time, i thought the whole point of the HMRC when called in is to be unsympathetic to any situation !!!!
and how does going down the pan help anyone? Bad for football (hopefully the lessons from this will help change the game (rules, role of the PL etc), bad for us and probably bad for you too! Been looking on this site since the draw to see what's going on at your end and the comments are quite readable! Just can't see why so called 'football fans' are so keen to see a football club go bust!
Most of those wishing that your club will go bust are reacting to the bile and spite visited upon us, by Pompey supporters, when we were similarly placed last summer. You may have been one of them? Whether you were or not I don't care, but try asking the same question of your fellow supporters. Also ask yourself why you have conveniently chosen to ignore the comments made by those Saints fans hoping you survive and have focussed on those wanting your club to end.
Totally agree, it wasnt long ago that we were in danger of dissapearing and whilst there was some sympathy shown to us from down the road, there was also alot of real contempt shown by as you call them"so called football fans" mate what goes around comes around to us all. That having been said, local competition is healthy and I for one wish you guys the best and hope you still have a club next year.

saint elvis says...
10:02am Fri 5 Feb 10

Bunman wrote:
St. Curious Chimp wrote:
..... absolutely ......... incredibly annoying and sooooo frustrating that this joke of a club will most probably get the hearing delayed and then get sorted, why oh why if the HMRC are called in and there is a hearing - then surely this pathetic club should go down the pan !!!! if this does'nt happen then whats the point of having the winding up petition on the 10th Feb 2010, i bet they get the adjournment because they are a so called premiership outfit ................... curiously disgusted with the whole situation, why should they be allowed more time, i thought the whole point of the HMRC when called in is to be unsympathetic to any situation !!!!
and how does going down the pan help anyone? Bad for football (hopefully the lessons from this will help change the game (rules, role of the PL etc), bad for us and probably bad for you too! Been looking on this site since the draw to see what's going on at your end and the comments are quite readable! Just can't see why so called 'football fans' are so keen to see a football club go bust!
wrong site Bunman! this is a football and pie forum!

costa gaz says...
10:17am Fri 5 Feb 10

Q; how many pompey fans does it take to change a light bulb?
A; all three of them

E-M27 says...
10:43am Fri 5 Feb 10

I think fans from other teams who have alreay suffered what poo-pie are going through, should let the HMRC know how they feel and remind them that their clubs were not given any support or additional time before they were all forced into administration etc.
Southampton,Leeds,Lu
ton,Bournemouth,Crys
tal Palace,Notts County......and many more have all suffered the same fate and in some cases ie Luton Town virtually forced to the point of extinction
Add to that it is TAXES they owe and I am sure there are many people who's businesses and livelihoods have been ruined due to the normally stringent recovery methods used by the HMRC and leniancy was not given to them
Why should it be any different for a Football Club which at the end of the day is a business.
In this case this business has been run poorly and in many peoples eyes dishonestly, so why shuold it be treated any different from normal hard working people who in some cases have lost everything.
It will be yet another wet fish slapped across the faces (sorry, couldn't resist that one!) of people who have and are suffering similar circumstances
One rule for all has to be applied
Oh and COYR!!

News Fanatic says...
10:52am Fri 5 Feb 10

Did anyone see this?

Avram Grant’s wife Tzofit was apparently relaxed about the incident when talking to reporters yesterday.

She told the Daily Telegraph’s Gordon Rayner: "He’s the manager of Portsmouth. Do you know how tough that is? He’s a great manager stuck in a crappy team. He works hard, he needs two massages a day."

Papa_Lazarou says...
11:56am Fri 5 Feb 10

News Fanatic wrote:
Did anyone see this?

Avram Grant’s wife Tzofit was apparently relaxed about the incident when talking to reporters yesterday.

She told the Daily Telegraph’s Gordon Rayner: "He’s the manager of Portsmouth. Do you know how tough that is? He’s a great manager stuck in a crappy team. He works hard, he needs two massages a day."
To be fair to ol' Avram, its probably the closes he will get to a happy ending all season..

Bunman says...
1:08pm Fri 5 Feb 10

So there's no chance to rise above our idiots then? You're just as bad on that basis aren't you? Petty rivalries more important than the game obviously! I have mates that support your lot and it would've disappointed me had you gone out of business - if nothing else who else would we hate? The people who gob off on internet sites I would say tend to be the minority as it wasn't the sentiment I felt amongst our normal lot!

St. Curious Chimp says...
6:52pm Fri 5 Feb 10

Bunman, read the above post from E-M27 @ 10:43am, kinda sums it all up really for me, i too have good banter with some of your lot due to where i work, with the odd one or two exceptions, do you honestly think you'll go down Wednesday ?????? your support and your pathetic football Club will always be in the shadow of the Saints and you know it !!!!, your little club will need someone willing to take on a huge debt and as you have not got a nice Stadium/training facilities etc., there really is not much to hold onto - only Premiership status - thats looking more and more pathetic as the days and games go by, at the end of the day i have been where you are now, feeling down and frustrated at whats going on and clinging onto the hope of a saviour, it happened for us here at Saints - and believe me the good times are back - and if you have'nt noticed we are making headlines for the right reason as opposed to the team you support - the chimp, season ticket holder in the Chapel SMS - the Pride of the South, and if you have'nt gathered i am one happy Saint

voyager069 says...
9:59am Thu 11 Feb 10

DONT FORGET SCUMMERS WHATS GO'S AROUND COMES AROUND.....


Portsmouth Pompey to ask for winding-up hearing to be delayed

Most popular






Hampshire FA Respect the Ref
Get Adobe Flash player

Local Information

Enter your postcode, town or place name

House prices »   Schools »   Crime »   Hospitals »

Local Businesses