PKF ADMINISTRATORS to Portsmouth FC have again announced that a court date to decide the future of the club has been pushed back.
The future of the club rests on its sale to the Pompey Supporters Trust (PST). A court date has been set to resolve a dispute on the valuation of the club’s grounds which will determine whether or not PST will be able to buy Portsmouth FC out of administration.
A court date which was set for 31 January has now been adjourned until 14 February.
Papers were filed in November with a court date originally set for 13 and 14 of December. However, the courts pushed that date back until 15 January. It was then postponed again until 31 January, with the date now standing as 14 February.
Portsmouth FC entered administration for the second time in two years on 17 February last year, with PKF partners Trevor Birch, Ian Gould and Bryan Jackson appointed.
At the time of the original filing, Birch said the hearing was “critical in deciding the future” of the club. If the court agrees with the valuation of PST, it can be sold as a going concern, which is now the only option outside of liquidation.
“This court case is the culmination of months of hard work behind the scenes in trying to resolve the complex issues which this administration has posed. We will continue to work closely with the PST to finalise our case,” Birch said at the time.
Usually an administration is only for 12 months. However, the administrators have also announced that they have received court approval to extend that period a further six months to 17 August.
FRP Advisory sells business and assets of Harland Machine Systems Limited to Accraply Europe Limited
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016