BusinessBusiness RecoveryPompey administrator investigate mystery payments

Pompey administrator investigate mystery payments

Portsmouth insolvency practitioner unveils £1.5m in unexplained payments

Administrators of Portsmouth FC are investigating unexplained payments from
the club, totaling £1.5m during the current season.

The payments are alleged to have taken place during the four month ownership
of Ali Al Faraj, the
Daily
Telegraph
reported.

The alleged payments were made between October 2009 and the end of January,
the same time a winding up order was petitioned by HMRC over a £7m unpaid tax
bill.

Andrew Andronikou confirmed he is investigating the details leading up to the
administration of Portsmouth.

News of the investigation comes days after Andronikou, a partner at
UHY Hacker Young, was
forced to make 85 staff redundant.

The club is expected to appear in the High Court next week where it is
expected HMRC, will drop its challenge against the appointment of Andronikou as
administrator.

Further reading:

Portsmouth
administrators investigate missing millions

HMRC
to drop Andronikou challenge as Portsmouth administrator

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