Pompey now owe £138m

[sten_super]

Interesting stuff here - Good news for Portsmouth … Guardian finds missing £4m | Football | The Guardian

... in an article bizarrely called 'good news' for Pompey. Quite a few paragraphs down it mentions that HMRC's claim is now £35m - which is more than the 25% they need to block the CVA. Interesting times.

Excellent news. Should mean that HMRC can block the CVA and Pompey will start next season on -15.

 

[Easy 10]

So in essence, Androniku listed Canterbury Europe as a creditor that is owed £2m by Pompey
When in reality, Canterbury Europe went into administration last year owing Pompey £1.8m



I wonder how many more little administrative "slips" like that one have happened to boost the overall declared debt beyond the 25% threshold HMRC needed in order to block the CVA ? There should be an independent audit of every single penny of that debt report put together by Androniku before ANYTHING is agreed.

Crooked and rotten to the core, the lot of em.

 

[hans kraay fan club]

So in essence, Androniku listed Canterbury Europe as a creditor that is owed £2m by Pompey
When in reality, Canterbury Europe went into administration last year owing Pompey £1.8m



I wonder how many more little administrative "slips" like that one have happened to boost the overall declared debt beyond the 25% threshold HMRC needed in order to block the CVA ? There should be an independent audit of every single penny of that debt report put together by Androniku before ANYTHING is agreed.

Crooked and rotten to the core, the lot of em.

Indeed. Starting with whatever sum Andy himself is claiming. The little c*nt.

 

[Dick Knights Mumm]

This does have its amusing side - the administrator is bumping the debts up, but the Inland Revenue debt is managing to keep within 25%.

I wonder if the club can just pay off enough of the Inland Revenue debt to reduce it to below 25% just before the meeting.

 

[itszamora]

Excellent news. Should mean that HMRC can block the CVA and Pompey will start next season on -15.

According to things I've read, not agreeing a CVA is likely to mean liquidation.

 

[Tom Hark Preston Park]

Why on earth would any suppliers of goods and/or services to Pompey keep on doing so? They are nailed on to be royally shafted. Surely they have to insist on cash up front?

 

[Buzzer]

So in essence, Androniku listed Canterbury Europe as a creditor that is owed £2m by Pompey
When in reality, Canterbury Europe went into administration last year owing Pompey £1.8m



I wonder how many more little administrative "slips" like that one have happened to boost the overall declared debt beyond the 25% threshold HMRC needed in order to block the CVA ? There should be an independent audit of every single penny of that debt report put together by Androniku before ANYTHING is agreed.

Crooked and rotten to the core, the lot of em.

In fairness to the Pompey scum, this is quite plausible. Reading the article and knowing a little bit about how the shirt suppliers work it could just be an oversight that the administrators were unaware of.

Pompey owe £1.99m to Canterbury Europe (CE) , that's clear. But CE may well have had a shirt licensing based arrangement with Pompey whereby a percentage of shirt sales goes back to the club. Now this kind of deal is often done on trust with reliance placed on the auditors to ensure that the money owed is actually paid. So CE owe a total of £3.8M making a net £1.8M owed to the chav pikeys. Now, someone at Pompey SHOULD have had an inkling that the money was owed. It's bad but may not be criminal, just negligence.

That's my take on it, anyway.

 

[k2bluesky]

Hope they get totally stuffed by Chelsea today, the way they have lived beyond their means for so long and are now treating the small suppliers to 20p in the £ while paying their multi-millionaire players is a disgrace, hope they drop to div 2 and remind themselves what the game should be about.