Pompey win latest survival battle

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Portsmouth have won the latest round of their survival battle after the tax authorities failed in an appeal over the club's Company Voluntary Agreement.

The proposed agreement would help the club to come out of administration by organising payment to its debtors.

HM Revenue & Customs (HMRC) wanted it blocked, calling it "unfair and seriously flawed" as it gave preference to football creditors.

Portsmouth's lawyers said the club faced extinction if it lost the case.
 

cg010169

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I've got mixed feeling's about this. Don't like the idea of any club being on the point of extinction, as the effect it has on fans and surrounding area's are massive.
But if the figures are true that they owed over £20 million then maybe it should of been aloud to happen as what example does this set now. The clubs can do what they like and seems they are getting away with it. I think if the HM Revenue & Customs had won, alot of premiership clubs would of been looking over their shoulder with how they deal with the "image rights" issues as they could of found themselfs in the same boat
 

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Her Majesty's Revenue and Customs has lost its High Court judgement against cash-strapped Championship club Portsmouth.

The tax office, which has since said that it will not appeal, was attempting to block proposals to help the Fratton Park side out of administration.

HMRC was seeking an order which would block a proposed Company Voluntary Agreement (CVA) put together by the club's administrators.

But the High Court has ruled in favour of the administrators, with Mr Justice Mann saying: "I propose to find in favour of the company administrators and dismiss the application of HMRC."
No appeal

Pompey chief executive David Lampitt told his club's official website: "We're delighted and relieved at the outcome announced today in the High Court.

"We will wait to see the detailed findings and whether HMRC decide to appeal.

"However, it's obviously a massive step forward in the process towards getting this great club back on its feet.

"I would like to give my personal thanks to all those who have supported us through this difficult period, in particular our fans, commercial partners and Portsmouth City Council.

"The result is a huge relief to the staff here whose loyalty has been unswerving and whose hard work has held the club together."

HMRC said later in a statement: "HMRC is naturally disappointed not to have won this appeal and we can confirm that we do not intend to appeal.

"Our aim when pursuing debt of any kind is to achieve a fair outcome for the taxpayer and we will take this forward in the wider context of the football industry through separate and outstanding legal proceedings over the status of the so-called Football Creditors Rule.

"This is an important and complex judgment and until we have had the opportunity to study it in detail we can't comment further."
 

Colin

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To be honest i think its a disgrace was listening on radio on way home, the taxman(basically the taxpayer!) will get 20p to the £ however the players will get 100% of what they are owed with JOHN UTAKA getting £1m for image rights!!!! who the f£ck is buying john utaka tat to the tune of 1m!!!!
 

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First of all let me say how relieved I am for the Pompey fans that HMRC have not been able to put them out of business.

I still feel though that Porstmouth Football Club should be made to pay the full amount to HMRC.
 

harry127

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Great set of fans, one of the most passionate in the league but sadly there have seemed to be some crooks and incompitents running the club over the past few yrs. Feel sorry for the folk who are owed money and are un likely to see any recompence.
 
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