Portsmouth given Winding up Order

platypus · 30 Dec 2009 at 15:33

Looks like HMRC might claim the first premiership casualty.

http://www.timesonline.co.uk/tol/sport/football/premier_league/portsmouth/article6971646.ece.

I wonder what this means for other clubs, and if there might be stricter restrictions placed on the clubs with large unserviceable debts?

platypus · 18 Feb 2010 at 13:33

How the hell have they managed to get a stay of execution until the 1st of March?!

platypus · 26 Feb 2010 at 10:28

So into administration. How this can be allowed to go on I don't know. Any other business would have been wound up a long time ago.

platypus · 26 Feb 2010 at 16:34

By all accounts HMRC are cracking down on football clubs. Good.

platypus · 3 Mar 2010 at 11:19

leaskovski said:
I saw the news this morning about this, and they said basically the reason that the tax man is taking them into court is because they arent happy about being put to the bottom of the pile when it comes to the money being dished out due to them putting themselves into administration, as the creditors come first. Well something like that.

Yep in cases like this HMRC always comes last.

platypus · 16 Mar 2010 at 15:58

Well I'm not sure what's happening now, but HMRC have dropped their challenge.

http://news.bbc.co.uk/1/hi/business/8570134.stm

platypus · 17 Mar 2010 at 11:22

HMRC should have pushed them to the wall.