Andronikou: business as usual despite hurdle

PORTSMOUTH administrator Andrew Andronikou insists it is business as usual at the club despite another legal hurdle being placed in their path.

A High Court judge yesterday ordered a hearing to be convened in a fortnight’s time to ascertain whether the administrator was validly appointed.

Mr Justice Norris insisted the “shadow over the appointment should be removed”.

He also directed Portsmouth to provide evidence of “each and every sum” which Portpin – the company of Hong Kong businessman Balram Chainrai, who has a controlling interest in the club – lent to the club and also “full particulars” of any money paid to Portpin and Chainrai by the club.

Andronikou said that was, specifically, a matter for Portsmouth the company and his job of selling the club would continue unaffected.

“They have asked for some information to substantiate the chargeholder’s debt, which we have got anyway,” he said.

“The company have to provide the information so I am just getting on with what I have to do.

“HMRC have a right to ask questions and we have answers so we are moving on as normal. We are all very relaxed. It doesn’t affect things whatsoever.’’

Andronikou had a meeting scheduled with the Premier League yesterday, at which he hoped to persuade them to waive the nine-point deduction for entering administration, but that was postponed in light of the High Court hearing.

The Premier League are now considering the comments of the judge before deciding how to proceed.

Portsmouth went into administration on Friday with estimated debts of £78 million (€85.7m), including an outstanding tax bill of £12.1m (€13.3m).

Gregory Mitchell QC, told the High Court HMRC wanted to know how a “succession of owners of the club have allowed such enormous debts to accrue”.

“How is it possible that this once-great club has become insolvent with liabilities exceeding assets by a figure of £65m?” he said.

“If this club can be rescued by a process of administration, then that is to be welcomed by all, including HMRC.”

However, Mitchell said HMRC’s support for the plans to rescue the club were qualified by concerns.

“Have these administrators been validly appointed?” he asked, pointing out if they had not they could not act for the club. “The question of validity is a fundamental issue and that has to be determined one way or the other as quickly as possible.’’

Simon Barker QC, representing Portsmouth, said Portpin were providing £15m (€16.5m) to keep Portsmouth afloat until the end of the season.

The administration must continue, he said, to allow a purchaser to refund the club.

“There is no reason to impugn the conduct of these administrators at all,” said Barker.

“There is no reason the court should have any doubts about their appointment and independence.’’