Chainrai threatens to walk away from Pompey over administrator-fee dispute

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BALRAM Chainrai has threatened to walk away from Pompey in a dispute over administration fees.

Mr Chainrai’s firm Portpin has been poised to take on Portsmouth Football Club again after the sale of Liam Lawrence was confirmed yesterday.

Discussions have been ongoing between Portpin and administrators PKF to finalise arrangements.

But the takeover is now in jeopardy because a deal on PKF fees – believed to be £1.8million – cannot be met.

Speaking to The News, Mr Chainrai said: ‘Me and my business partner Levi Kushnir are very depressed with the situation over the fact PKF have refused to do a compromise deal over their fees.

‘Because they are failing to do a compromise with fees, there’s no way to move forward and take the club out of administration.

‘We are waiting for them to follow through on this.

‘We will be waiting, but we won’t be waiting for long.’

Administrator Trevor Birch has not confirmed the amount, but said negotiations are taking place.

He said: ‘Over the past six weeks or so I have been striving – in very difficult circumstances – to fulfil the terms of the CVA with Portpin.

‘This is so the club can come out of administration before the new season starts and have the best opportunity to move forward in a positive manner – as all the fans and employees of the club want to see.

‘At such a critical stage it is inappropriate to conduct confidential negotiations through the media and therefore until matters are finalised, one way or another, I do not intend to make any comments.’

As reported previously in The News, that between February 17 – when PKF took over as administrators – to June, it had amassed fees of more than £700,000.

A creditors’ committee meeting gave the authority for PKF to take the first £425,000 out of the club in its current state, of which the firm has taken £200,000.

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