New twist in Pompey creditor saga

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Portsmouth creditors have been offered potentially 99 pence in the pound - a figure far in excess of the one on the table from the administrator.

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thats a good deal i would accept if i was a pompey director
 
Could they not just offer £1 per every pound?! Would make life a lot easier
 
I think they should accept 99 pence, it is a far valuation of Portsmouth.
 
Alex said:
Could they not just offer £1 per every pound?! Would make life a lot easier
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Not really, adhere:

In all cases, 99pence in the pound is paid:



If you £1, you save 1p
If you owe £10, you save 10p
If you owe £100, you save £1.
If you owe £1000, you save £10.


And so on.



And with Pompey reported to owe £120million depending what you read, that means theysave £1,200,000, while their creditors lose very little of what they're entitled to. So tbh it makes a rather vast difference. (H)




Ride The Walrus said:
I don't understand this
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This 99pence in the pound means:

For every £1 Portsmouth owe to a creditor, they have offered to pay 99pence of it, and write off the other 1p as bad debts, ie call it quits.




SuperDude said:
I think they should accept 99 pence, it is a far valuation of Portsmouth.
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No-one is trying to buy the club, this is the figure that Portsmouth are offering to pay their creditors. And please don't tell me that was a joke....
 
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It's a big jump from that 20p to a £1 offer, but if it works and we can survive by it then go for it.

SuperDude said:
I think they should accept 99 pence, it is a far valuation of Portsmouth.
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Troll. Troll. Troll.
 
Max said:
It's a big jump from that 20p to a £1 offer, but if it works and we can survive by it then go for it.


Troll. Troll. Troll.
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I meant 99 pence in the pound, stop trying to stir up trouble.
 
SuperDude said:
I meant 99 pence in the pound, stop trying to stir up trouble.
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Shut up, get on topic. Nothing to say on topic? Get off the thread.


*Thinks of Billy and his 'facepalm'.*


And hopefully so Max, don't think the administrators would offer it if they couldn't afford to....
 
SuperDude said:
My name is Andrew not Chris. I am sure Portsmouth will be just fine.
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He was reffering to Christophermcl (sp).

And now we know you're name, one step closer to me finding you. (6)
 
christophermcl said:
Why would (Newcastle fan) Chris thank you? For saying that Max, one of the most liked and most-active users on the forum, always stirs up trouble? Sure.... ;)
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You joking? Max! :P

Nah, we all love Max. oO)

Anyway, is this a good deal for Pompey? Still a bit confused. XD
 
Well put it this way Chris, it's better than £1 to the £1. :)
 
I don't see why Pompey wouldn't accept this
 
Because Pompey are run by donkeys, their chairmen have as much business acumen as George Osborne and they spent money like a death door himmler with an expensive bucket list.

Oh, and for every pound Pompey take they spend a fiver LOL.
 
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