Portpin 'demands clarity' on Portsmouth

Started by Shola Sholaz, Feb 23, 2013, 12:04 AM

Shola Sholaz

Portsmouth's former owner Portpin has asked the Football League to clarify its position on considering new bids for the club.
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The League said it would not consider offers other than that of the Pompey Supporters' Trust (PST) after this week rejecting a bid fronted by football financier Keith Harris.
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But Portpin, led by Balram Chainrai, claims the League's stance is unlawful.
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And in a statement it suggests the Harris bid is better for creditors.
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The PST's takeover is dependent on gaining control of Fratton Park, which is owned by Portpin.
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The two sides have been unable to agree on a fee for the ground, with the valuation set to be determine
in the High Court before 19 April.
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"There are now at least two offers for the club, one from the Supporters' Trust and one from a consortium which includes Keith Harris, an legally they must both be considered on their merit"
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Portpin statement
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Portpin claims the Harris bid would mean it received £6.3m for the stadium, as opposed to the £3m currently being offered by the PST.
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It claims ruling out consideration of other offers "unlawfully limits the ability of the administrator to fulfil its role in securing the best terms for creditors".
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And Portpin has warned that if alternative bids are not considered, the League "will leave itself exposed to legal action for damages from creditors which could amount to millions of pounds".
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A spokesman for Portpin said: "We have made clear that we are agnostic as to the source of the solution for Portsmouth Football Club and welcome whichever bid offers both the best deal for the creditors of the club and provides the highest degree of certainty for the supporters in bringing Portsmouth out of administration."