Court case adjourned for another 14 days

[Selsey Bill]

PORTPIN say tomorrow’s scheduled hearing over Fratton Park’s valuation has been adjourned.

Pompey administrators PKF and Portpin representatives were due in court tomorrow for a hearing to determine a date for a full valuation hearing.

However a spokesman for Portpin, the firm of the club’s former owner Balram Chainrai, confirmed to The News the case had been adjourned for 14 days.

He said: ‘I was told late yesterday that the case has been adjourned for 14 days.’

The valuation of Fratton Park is the last remaining hurdle for the Pompey Supporters’ Trust in their attempt to take over the club.

The trust values the ground at £2.75m while Portpin, which has a charge over Fratton Park, is seeking around £11m.

The News has made attempts to contact PKF this afternoon.

[Lost in Transportation]

bl**dy PKF!

[Pompski!]

Isn't it about time someone did a "Brighton Pier" on Fratton Park?

[HappyHour@TheBreweryOfLife]

Are we still going with 'It's because there are out-of-court discussions going on'?

[RubiconCSL]

Well I certainly hope those rich dudes propping the club up at the moment know what this is all about. If they get fed up covering the day to day running costs, we really will be stuffed.

[Selsey Bill]

Bearing in mind this adjourned case is only the hearing to determine a date for a full valuation hearing, does this suggest that the two parties are trying to come to an agreement over the valuation to out of court?

[Locky_McLockface]

Bearing in mind this adjourned case is only the hearing to determine a date for a full valuation hearing, does this suggest that the two parties are trying to come to an agreement over the valuation to out of court?

That's the "glass-half-full" assessment.

The "glass-half-empty" assessment is that the PST don't have the funds to go with the business plan.

[JenniTalia]

Bearing in mind this adjourned case is only the hearing to determine a date for a full valuation hearing, does this suggest that the two parties are trying to come to an agreement over the valuation to out of court?

Then surely it would be better to set a firm Court date to focus the minds of all those involved?

[Lost in Transportation]

Bearing in mind this adjourned case is only the hearing to determine a date for a full valuation hearing, does this suggest that the two parties are trying to come to an agreement over the valuation to out of court?

Unfortunately it doesn't - this is a Portpin versus PKF issue. The PST bid is costed and on the table. The valuation is about what amount Portpin get if PKF are allowed to sell Fratton Park with the charge set aside. That's not the only factor that Portpin and PKF are fighting over though.

[Lost in Transportation]

The "glass-half-empty" assessment is that the PST don't have the funds to go with the business plan.

This isn't a PST issue (at the moment).

[Locky_McLockface]

The "glass-half-empty" assessment is that the PST don't have the funds to go with the business plan.

This isn't a PST issue (at the moment).

No but assuming Trevor would be aware that the Trust don't have the money, or that it is his opinion that they don't, further adjournments, in order to buy the Trust a bit more time, would be in his interest.

[Lost in Transportation]

The "glass-half-empty" assessment is that the PST don't have the funds to go with the business plan.

This isn't a PST issue (at the moment).

No but assuming Trevor would be aware that the Trust don't have the money, or that it is his opinion that they don't, further adjournments, in order to buy the Trust a bit more time, would be in his interest.

That's a long way out as I'm understanding the situation. The essential issue is that PKF are between a rock and a hard place regarding the two options on the table (sell to the Trust or liquidate the company). Portpin are exploiting that to maximise their position and PKF are attempting to find some safe ground that protects their fees.

[No Shot Sherlock]

Oh yes, PKF's fees. No half glass there. Their cup runneth over whatever happens

[Lost in Transportation]

Oh yes, PKF's fees. No half glass there. Their cup runneth over whatever happens

There are risks to their fees - that's part of the problem.

[Lindford Saint]

Oh yes, PKF's fees. No half glass there. Their cup runneth over whatever happens

There are risks to their fees - that's part of the problem.

Is it the risk that they won't get enough for the office Easter vacation to Necker Island?