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The anxious wait goes on

Yep, the anxious wait to find out what the future of Portsmouth Football Club will be goes on and we will not find out what the outcome is until later this afternoon now!

Sky sports news is reporting that the case has been adjourned until 2pm...

I think finger nails will have been chewed down to the fingers by now, so by the time we know the outcome of whatever is happening we would have chewed halfway down our arm!

A cash offer was this morning rejected though.

UPDATE

Sky sports news now saying Portsmouth high court case decision imminent.

UPDATE

The latest breaking news from sky sports is that Pompey have told the high court that we have received TWO serious offers to buy the club and clear our debts

HMRC has also told the high court that the club is insolvent...

UPDATE

HMRC say that we owe them £11.5m, not £7.5m!

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Writer: pompeyrug

Date:Wednesday February 10 2010

Time: 12:03PM

Your Comments

Cardiff & SouthendsCases have been adjoured for 28 days!

PompeyFcMad

They apparantly rejected the cash offer because we had no plan as to how & when we would settle the balance.

storagematt

Cardiff and Southend owed alot less than us plus Cardiff payed some money yesterday. I don't understand why the inland revenue accepted part payment from Cardiff but turned us down. Got everything crossed that it gets adjourned for 28 days and we get the money.

moley2

Mad does that mean that we can win another 28 days? I think that by then we will have our next owner.

Pompey Malta

This is such a killer. How long should such a hearing take?

sneakay

If it gets adjourned would the Irish/American consortium who are supposedly interested pay the bill?

moley2

Probably all done for the media Sneakay!

moley2

Judge having a nice boozy lunch somewhere I expect

hammersmithblue

Now being reported it's to be held at 1.00pm

PFCblue

Let us hope. If this goes our way, I am sure that we will have a new owner, the players will be settled and the battle for survival goes on.... and then we pull off another great escape!

Pompey Malta

Sky Sports News says the decision is imminent

moley2

whatever the outcome just get it over with stop twisting the knife into the fans.

Steve C

WTF - I am soooooooo on tenter hooks .. been in a fould mood all day.. I just want this over .. if they are gonna kill us off then just get on with it .. this is torture !

Chix

Just incase you guys aren't aware, 'The NEWS' is blogging live from inside the court room: http://www.portsmouth.co.uk/custompages/custompage.aspx?pageid=81654

frattonchorus

We are insolvent apparently

moley2

Apparently Cardiff paid £1M and have 28 days to find another £1.5M. PUP

NorfolknBlue

The news blog is slower then pie eating lambert!!!

pompeymart1965

if we can PROVE that these 'serious offers' are on the table, even with us currently being insolvent then we would not be wound up, would we?

pompeyrug

Well looking quickly here and other blogs etc there are fans all around the world waiting on this decision. There are certainly some majot arguments going on.

eastneydave

The payment plan is simple. Say we pay what we can afford now, they withdraw the winding up order we start selling season ticets which will just about pay the wages (hopefully) for the next few months. And we agree to pay the rest with parachute payments in August.

stooH

Who knows Rug, but I think it's got to the point where unless the money is on the table they won't be interested.

moley2

why hasnt chainrai paid off the £7.5m to then be refunded from the 'would be' new owners...

pompeyrug

11.5 mil WTF!!!!!!!!!!!!!!

moley2

Fark me 11.5 million the customs want now- 4 mill interest in a few weeks *****e

pompeymart1965

I keep writing things and then deleting. We must stay positive, we have to get 28 days, it would be daft in the light of two new buyers. We've owed the money for ages, 28 days won't hurt.

gandor1

HMRC say we owe 11.5 million.

JASON R

Who the hell wants to watch the bloody Scottish FA CUP draw!!!! I can't handle this anymore. I swear they will go for an advert break to add to the tension just before the decision is announced!!!!!

moley2

I saw that 11.5 .. but thought we paid £4m of that .. hence why £7.5 was being quoted

chix

True Gandor. They either get nothing today or nothing in 28 days........ or maybe the full amount by then if they really are serious offers!

pastyman72

It's been adjourned ... not sure for how long !

chix

Yeah,there will be an advert for a loan!!!!!! Maybe we could apply?

pompeymart1965

Nigel Hood, representing Pompey, told the High Court: 'Two offers have been received from serious purchasers for the club to buy the club and pay off the debt.'

chix

Order was for £7.4m though.

eastneydave

It has been adjourned for seven days.

chix

What about cash for gold, we could turn Peter storrie upside down and see what he has!

moley2

At least we can play Scummers now .. roll on NEXT Wednesday ... not !

chix

Repeat It has been adjourned for seven days I'm going for a fag ..

chix

If these offers are serious then surely we have nothing to worry about do we?

moley2

I hate to say it but this just feels like a stay of execution. I think the fag idea was the best one today Chix. Gonna join ya!

pastyman72

Statement of affairs have to be provided in seven to nine days. Earliest court appearance 19 February

eastneydave

19 Feb .. that's next .. Friday ?

chix

What I want to know is why have these serious offers only come in on the day we could have potentially been liquidated?

moley2

had an article up on this within minutes of it breaking - http://www.portsmouth.vitalfootball.co.uk/article.asp?a=187781...
move the talk into that one now :-)

pompeyrug

If they 'really' exist at all.. in fairness though moley they have been touted around for about 10 days now

chix

eye eye skipper..

chix

According to Storrie on the Quay tonight, the reason for the discrepancy between 11m and 4m is that we are disputing 7m of the money. As far as I can recall, the 7m is the VAT that we have been charged for our foreign transfers, and Pompey are disputing that. Our major problem is that we will be creating a precedent if we win, cos it will open the floodgates for all clubs to claim back the VAT they have paid on their foreign transfers. So HMRC are going to fight it tooth and nail. Don't quote me, but this is how I understand it. Storrie let it be understood (but never actually said) that we had offered to pay the 4m yesterday but that HMRC weren't having any of it.

Gandor1

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