Still not convinced we'll make it

[Here comes AFC]

Chainrai threatens to walk away from Pompey over adminstrator-fee dispute
By Priya Mistry
Published on Saturday 11 August 2012 13:46

BALRAM Chainrai has threatened to walk away from Pompey in a dispute over administration fees.

Mr Chainrai’s firm Portpin has been poised to take on Portsmouth Football Club again after the sale of Liam Lawrence was confirmed yesterday.

Discussions have been ongoing between Portpin and administrators PKF to finalise arrangements.

But the takeover is now in jeopardy because a deal on PKF fees – believed to be £1.8million – cannot be met.

Speaking to The News, Mr Chainrai said: ‘Me and my business partner Levi Kushnir are very depressed with the situation over the fact PKF have refused to do a compromise deal over their fees.

‘Because they are failing to do a compromise with fees, there’s no way to move forward and take the club out of administration.

‘We are waiting for them to follow through on this.

‘We will be waiting, but we won’t be waiting for long.’

Administrator Trevor Birch has not confirmed the amount, but said negotiations are taking place.

He said: ‘Over the past six weeks or so I have been striving – in very difficult circumstances – to fulfil the terms of the CVA with Portpin.

‘This is so the club can come out of administration before the new season starts and have the best opportunity to move forward in a positive manner – as all the fans and employees of the club want to see.

‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’

[Sam_Brown]

Chainrai threatens to walk away from Pompey over adminstrator-fee dispute
‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’

Well he's certainly got a sense of humour.

[Lost in Transportation]

Chainrai threatens to walk away from Pompey over adminstrator-fee dispute
‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’

Well he's certainly got a sense of humour.

What? Birch?

[Purbrook Chimes]

shows how things are going to be , he already doesn't want to pay anyone any money and it will continue until we're in the conference

[ddavis]

shows how things are going to be , he already doesn't want to pay anyone any money and it will continue until we're in the conference

Sigh. The trust would be haggling over those fees as well, what would you be saying then?

PKF have £450k of 'approved' fees. They want paying over £2m.

[Yeovil Saint]

shows how things are going to be , he already doesn't want to pay anyone any money and it will continue until we're in the conference

Sigh. The trust would be haggling over those fees as well, what would you be saying then?

PKF have £450k of 'approved' fees. They want paying over £2m.

Difference is that any money PST saved would go into the football club, any money Chainrai saves will go into his pocket.

[ddavis]

shows how things are going to be , he already doesn't want to pay anyone any money and it will continue until we're in the conference

Sigh. The trust would be haggling over those fees as well, what would you be saying then?

PKF have £450k of 'approved' fees. They want paying over £2m.

Difference is that any money PST saved would go into the football club, any money Chainrai saves will go into his pocket.

About as relevant as the colour of my undercrackers.

The initial point was suggesting Chainrai is demonstrating his lack of willing to spend money.
My point is that he's doing what ANY other buyer would do.

[Purbrook Chimes]

shows how things are going to be , he already doesn't want to pay anyone any money and it will continue until we're in the conference

Sigh. The trust would be haggling over those fees as well, what would you be saying then?

PKF have £450k of 'approved' fees. They want paying over £2m.

Difference is that any money PST saved would go into the football club, any money Chainrai saves will go into his pocket.

About as relevant as the colour of my undercrackers.

The initial point was suggesting Chainrai is demonstrating his lack of willing to spend money.
My point is that he's doing what ANY other buyer would do.

whilst you're right I'm afraid its nothing new , have the small creditors been paid yet?