HMRC successful in blocking UHY administrators to Portsmouth FC

by Rachael Singh

More from this author

17 Feb 2012

  • Comments
Portsmouth FC badge

HMRC was successful in blocking UHY Hacker Young administrators from taking the Portsmouth FC adminsitration.

The club entered administration today with HMRC in court petitioning to halt UHY administrators' appointment to the collapsed club.

PKF administrators, led by the firm's head of insovlency Trevor Birch have now taken the appointment.

This is the second formal insolvency process for the championship side - after administrators Andrew Andronikou, Peter Kubik and Michael Kiely were appointed in 2010.

At the end of last year Andronikou and Kubik were appointed administrators to the club's parent company Convers Sports Initiative (CSI).

Yesterday Andronikou confirmed to BBC Radio Solent that the club had recommended UHY Hacker Young to handle the proposed administration.

Birch, Ian Gould and Bryan Jackson, partners at PKF, were today appointed joint administrators to Portsmouth FC.

A spokesman for the taxman said: HMRC is pleased that the courts agreed with our view that the creditors of any business have a right to expect that the administrator in these circumstances is completely independent.

"HMRC felt strongly that the appointment of Hacker Young as administrators to Portsmouth FC, whilst at the same time being administrators for the parent company CSI and its previous roles with the various Portsmouth Football Clubs, would present issues of conflict.

"This is why we suggested the appointment of PFK whose knowledge of the football industry and lack of previous connections to Portsmouth FC should re assure creditors"


Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.