League withholds cash for Pompey after Lampitt claim
Posted: Wed May 30, 2012 12:47 pm
FORMER Pompey chief executive David Lampitt is claiming cash from the club – leading to the Football League holding back vital payments.
The club’s administrators PKF confirmed Mr Lampitt and former executives John Redgate and Nick Byrom have made football creditors claims to the Football League over monies still owed to them.
The firm confirmed the football authority is holding back payments to the club to settle the claims under the football creditors rule, but would not disclose how much is owed to them due to ‘confidentiality’ issues.
Under the ruling, football creditors are required to be paid in full when a club is placed into administration, while other creditors – such as local businesses – are paid a fraction of what they are owed through a Company Voluntary Arrangement (CVA).
The High Court last week rejected an attempt by HMRC to abolish the rule, declaring it lawful.
A PKF spokesman said: ‘We are able to confirm that the three directors have submitted claims under the football creditors rule.
‘The Football League is netting off amounts in its payments to Portsmouth Football Club as a result of the claims.’
The club’s administrators PKF confirmed Mr Lampitt and former executives John Redgate and Nick Byrom have made football creditors claims to the Football League over monies still owed to them.
The firm confirmed the football authority is holding back payments to the club to settle the claims under the football creditors rule, but would not disclose how much is owed to them due to ‘confidentiality’ issues.
Under the ruling, football creditors are required to be paid in full when a club is placed into administration, while other creditors – such as local businesses – are paid a fraction of what they are owed through a Company Voluntary Arrangement (CVA).
The High Court last week rejected an attempt by HMRC to abolish the rule, declaring it lawful.
A PKF spokesman said: ‘We are able to confirm that the three directors have submitted claims under the football creditors rule.
‘The Football League is netting off amounts in its payments to Portsmouth Football Club as a result of the claims.’