UK time is: 00:52:59
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Not as secure as he thought?

The 17m stranglehold that Balram Chainrai has over Portsmouth Football Club 'might' not be as secure as was claimed?

Many fans have questioned just how valid his debenture is with the new administrator Trevor Birch, talking to The News today, saying that 'some doubts' could be put to this: 'that will be reviewed by me for its validity.

'We'll have lawyers that will look at it and examine the transactions and we will see where it goes from there.

'There are aspects of it which might raise doubts.'

This comes just days after Admin Andy put forward a complaint about PKF taking over the administration of PFC from UHY Hacker and Young.

He was claiming a 'conflict of interest', something you would surely have to question about him and his firm anyway?

Regarding this issue Birch said: 'HMRC approached me to be Portsmouth's administrator. We are satisfied there is no conflict and now want to do our best to sort out the problems at the club.'

It will be interesting to see what does now happen regarding Chainrai and his 'secured' 17m?

On one hand it would, you would think, make the selling of the club a lot easier because his secured status would not be there.

Although on the other hand what would be the ramifications for PFC if it was proven that his 17m is not as secure as it had previously been said it was, and was used as such in our last administration process?

'If', and it is a big if, it is proven that Chainrai is not as secured in his money as claimed it opens up a whole new can of worms...

PLAY UP POMPEY!

Click here to make your prediction: Pompey v Leeds.

Join the Vital Pompey Debate

Vital Pompey on: facebook Vital Pompey on: twitter

Join the Vital Pompey Forum Debate

Frippy's Virtual Bookies - here.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: pompeyrug Mail feedback, articles or suggestions

Date:Wednesday February 22 2012

Time: 9:37AM

Your Comments

All good news as far I am concerned. Always thought how can BC wash his hands off the debt yet still be owed money. This poisonous strangle hold has to broken for us to move forward, no matter what the penalty. There always has to be a Pompey.
storagematt
Staff were told this afternoon that Mr Lampitt had left along with his fellow board members John Redgate and Nick Byrom.
storagematt
I wouldn't count your chickens just yet Mat; I think Birch is just threatening to fend off a formal complaint from UHY about interest confliction. If the debenture goes to court Pompey will be plunged further into the mire and could well see an additional points deduction and accounts frozen again. I also think HMRC would have disputed the debenture if they thought they could. Long way to go in this one yet and the only winner are the administrators legal fee's
Russellm
I think Birch is trying to get Chan to drop to pay off Birch's preffered client which is HMRC; I wouldn't be surprised to see the TB ( gonna have fun eith them initials) doubts being assuaged if chan pays Pompeys outstanding tax bills.
Russellm
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Portsmouth Articles

Another Pompey win (Wednesday July 23 2014)

AA not 'actively pursuing anyone' (Tuesday July 22 2014)

On this day in history...22nd July (Tuesday July 22 2014)

Pompey's key to success (Monday July 21 2014)

Pompey crush Rocks (Saturday July 19 2014)

On this day in history...19th July (Saturday July 19 2014)

Archived Portsmouth Articles

List All Vital Pompey Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. pompeyrug 106
2. PFCblue 49
3. mslorna48 48
4. Lemmi 40
5. eastneydave 29
6. Emsworthianblue 22
7. pompeyloyal 12
8. Et_tu_Pompeii 10
9. storagematt 7
10. NZ_Portsmuff 7

League Results (view all)

Latest Results

League Table (view table)

Team P W D L GD Pts
14. Northampton 0 0 0 0 0 0
15. Oxford 0 0 0 0 0 0
16. Plymouth 0 0 0 0 0 0
17. Portsmouth 0 0 0 0 0 0
18. Shrewsbury 0 0 0 0 0 0
19. Southend 0 0 0 0 0 0
20. Stevenage 0 0 0 0 0 0

Breaking League News

Accrington 2-2 Blackburn
Accrington : 23/07/2014 22:46:00
City pay for mistakes
York : 23/07/2014 21:23:00
Bennett & Sercs Talk Brazil
Exeter : 23/07/2014 21:19:00
Howell - Friendly Defeats Won't Phase Us
Dag & Red : 23/07/2014 21:11:00
Cobblers Draw With Blades
Northampton : 23/07/2014 20:57:00

Current Site Poll (view all polls)

AA says we are done but are we still short in...
Suggested By:  pompeyrug
Defence 50%
Midfield 0%
Attack 25%
In AA we trust! 25%