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To the court it goes!

Pompey's future continues to hang in the balance, after talks to stop the winding-up court action against us on Wednesday proved fruitless.

2-days of talks with HMRC broke down today, and it seems this happened earlier as had been 'reported' by TalkSport, and others, on Tuesday afternoon - something that was denied by the club.

So, now we await our fate...

We came back from the dead to snatch a WELL DESERVED point against Sunderland tonight, in what 'could' be seen as a 'turning point' in our season, but could it have all be in vain?

Maybe the courts will be kind to us, then again maybe not? But lets hope and pray they are kind to us - and if they are then let the fight goes on, and we WILL fight to the bitter end!

PLAY UP POMPEY!

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Writer: pompeyrug

Date:Tuesday February 9 2010

Time: 11:50PM

Your Comments

I used to be a Course Secretry at the University and one day I had to fill in a form for a student who had applied for a job. If I had answered in the affirmative for every question asked on the form, the result would have been that the person was an absolute *********. The job applied for? Yep, you got it - a Tax Inspector.

gandor1

Lap of the Gods time I fear ... Don't think there is gonna be much work done in Pompey tomorrow .. Fingers, toes and everything else that crosses.. crossed

Chix

Let's all try positive thinking and sway their minds ;-)

PFCblue

I find it quite bizarre, that the team that Pompey played in the infamous Fa Cup Final of 2008 was Cardiff -and they are facing a winding up order on the same day ! - I wonder what the odds of that were?

StuartM

O Bugger after a great game aswell where we were in high spirits. now gone down.

PompeyFcMad

If the Judge has any compassion in him he will give Pompy a stay of excution for 3 months (end of season). The players and manager do not deserve to be kicked in the b$%ls any more. Tonight Pompy deserved the win and the deserve the win tomorrow as well.

cookiebun

Lets hope our guys were just trying to put off as a better option but produce the money tomorrow and sort things out. PUP xx

spaniard

I don't see compassion as part of the judge's remit. I'm afraid he will look at the case solely on the facts and any legal precedent. It doesn't make financial sense for HMRC to wind us up at the first time of asking, but I worry that someone somewhere is trying to make a point and perhaps get their name in lights

UKTony

Someone somewhere must have the money to stop this. Any new investors could be waiting in the wings to pick up the pieces if administration is confirmed. Vultures the fecking lot of them!

bluedr

its a horrible, horrible feeling at the moment - feeling so powerless, which we are and just waiting...
my concerns are that 'if' people are waiting in the wings to take over then why not make themselves fully known now? what benefit would they get from picking us up dirt cheap when in admin? they can get us for nothing now so long as they take on debts - the only advantage, to them, if we are in admin is that they will see debts reduced by this...

pompeyrug

You just hope & prey that the judge will adjourn to give us some time to restructure the debt. To close any football team down is tragic for us it's unthinkable.

storagematt

I heard there's a fat lady gargling outside the court at the moment. Hope she as good at her job as the ref was last night.

Ihatemidweektvgames

You can't blame HMRC for this - the blame lies squarely with those who didn't pay. £7.5 million in unpaid taxes, VAT and NIC contributions...how the f**K was that ALLOWED to happen? However, it's a shame they feel they have to punish the club and its fans rather than go after the directors responsible for this fiasco.

ninjatim

Pompeyrug - I think you answered your own question there, what benefit do they get for picking us up after admin? I can think of about £60m reasons why. So they get a 9 point deduction when we're nearly down already so there's no real problem there. They wouldn't get the benefits of the parachute payments but they could pick up a championship club (with no Parachute payments) for peanuts. Say we've got £60m debt and we're getting £20m in parachutes over the next 2 years (which would go to the creditors) they could pay £20m and get a debt free Championship Club with their own ground. That would also mean that there would be £40m in the pot to go to the creditors meaning they'd get about 65-70p in the pound which would be quite a good return. I really wouldn't hold your breath. Gaydamak and Chanrai hold the keys to us staying out of admin not HMRC.

stooH

creditors would be lucky to get 65-70p in the £1 tho - so, just think about the local business that 'could' go bust as a result? do we then think that the local support will come for a club that has contributed so much to distruction of the local business? granted as a premier league club we have also added to it...
i do not know how things work but is this meeting not to FORCE us to be wound up, will they not be pushing harder for this to happen as opposed to forcing us into admin?

pompeyrug

That could be why HMRC turned down a 'deal' Rug. People are being very emotional on the News blog.

PFCblue

But if we're wound up the parachute payments wouldn't happen and HMRC would get sweet FA. (Pun). At best they'd get the ground sold which might bring in a few £££, administration would bring them in more, us getting sold prior to administration would be the best for everyone. Based on my earlier example if the club were sold for £10m in administration everyone would get about 50p in the pound. Don't forget that we're still a premier league club and a reasonable proposition at that price even in the Championship. As for the local businesses yes it would be tough but I think they'd rather get 50p in the pound than us get wound up and they get 10p. Obviously someone buying us prior to all this would be the best solution but it's a massive leap of faith and would need someone willing to plough in 60-100m and see no return for the best part of 10 years.

stooH

The hearing's started.

PFCblue

Now it's being reported that it's been delayed. wtf's going on?

PFCblue

It's happeneing and Pompey are going under, i fear . We owe taxman 11 million and HMRC are saying we are involvent Pompey are claiming 2 serious potential buyers for the club

yellowcheesemonkey

Case Adjourned!!! But no news of how long for

yellowcheesemonkey

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