DCSIMG

Trust hopes for deal with Chainrai before Pompey High Court hearing

A General view of Fratton Park, home of Portsmouth Football Club. The 112 year old club are currently languishing at the foot of the Barclays Premiership and could be just two days away from entering administration. Her Majesty's Revenue and Customs have issued a winding up petition for unpaid taxes and the two sides will face each other in the High Court on Wednesday. PRESS ASSOCIATION Photo. Picture date: Monday February 8, 2010. Last week saw Hong Kong businessman Balram Chainrai becoming the club's fourth owner this season, a figure equalling their number of matches won in the league. See PA Story SOCCER Portsmouth. Photo credit should read: Chris Ison/PA Wire.

A General view of Fratton Park, home of Portsmouth Football Club. The 112 year old club are currently languishing at the foot of the Barclays Premiership and could be just two days away from entering administration. Her Majesty's Revenue and Customs have issued a winding up petition for unpaid taxes and the two sides will face each other in the High Court on Wednesday. PRESS ASSOCIATION Photo. Picture date: Monday February 8, 2010. Last week saw Hong Kong businessman Balram Chainrai becoming the club's fourth owner this season, a figure equalling their number of matches won in the league. See PA Story SOCCER Portsmouth. Photo credit should read: Chris Ison/PA Wire.

THE Pompey Supporters’ Trust hopes Balram Chainrai Portpin will agree a deal for Fratton Park before the case reaches the High Court next week.

Trust spokesman Colin Farmery said it was in ‘everyone’s interests’ to avoid the expensive court process.

It will be up to a judge to decide how much Fratton Park is worth following a two-day hearing at the High Court of Justice in London on December 13 and 14.

The trust has offered £2.75m to former owner Mr Chainrai’s company Portpin for the ground, which Portpin values at around £11m. So far, no agreement has been reached.

But Mr Farmery said: ‘We do hope it’s settled out of court – it’s in everyone’s interests.

‘Ultimately if it goes to court it’s going to be a more expensive process because courts are expensive things.’

Mr Farmery could not reveal how much the court hearing is likely to cost, but said the money would go back into the club if a deal is settled before next week.

He added: ‘We budgeted the money for the court case.

‘There has been no formal or informal contact over this and we would encourage Portpin, in effect, to settle out of court.

‘The only people that are going to benefit out of this are the lawyers.

‘It’s the administrator Trevor Birch’s decision to go to court. Ultimately we are a very significant interested party in the outcome, but it’s a question of hopefully Portpin seeing this whole saga would be better settled sooner rather than later.

‘This is nothing personal. It’s about business and Portpin – it’s not about Balu (Chainrai) or Levi (Kushnir).

‘At the moment our key focus is encouraging fans who have pledged to convert them.’

 

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