HMRC scuppers Pompey bid to exit administration
PORTSMOUTH face more months of uncertainty after the taxman blocked their attempt to come out of administration.
HM Revenue and Customs yesterday lodged an appeal at the High Court against Pompey’s proposed Company Voluntary Arrangement.
A hearing is not expected to be held before October, leaving the club hampered by a transfer embargo as they prepare for the new season.
HM Revenue and Customs is unhappy at Portsmouth administrator Andrew Andronikou’s offer to non-football creditors of 20p in the pound. In a statement it said it was appealing “on the grounds that: (a) The interests of HMRC have been or will be unfairly prejudiced by the taking of that decision; and (b) There were material irregularities in the way in which the votes of creditors were counted.”
Clubs in administration are subject to a transfer ban, although Portsmouth’s lean squad means they will be allowed to bolster their pool of players to 20. Portsmouth will not lose points for starting the season, which begins next month, in administration but could be penalised if any eventual CVA does not satisfy Football League rules.