‘Change in terms’ threatens quick resolution in Pompey case

An impression of what a substation at Lovedean could look like. Credit: Siemens

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The High Court hearing that will decide Pompey’s future was told today that there were issues with a company involved in the proposed deal.

Almost immediately after the start of proceedings, Mr Justice Sales has agreed to halt proceedings for an hour for representatives of PKF and Portpin to discuss issues related to an application to adjourn the case for 28 days.

The issue relates to REL Ltd, believed to be a company of property developer Stuart Robinson, who plans to buy Fratton Park to enable to Pompey Supporters Trust to take over the club.

Katherine Holland QC, representing administrators PKF, said: ‘The position is quite simple as late afternoon there was a change in the terms of the proposed transaction with REL.’

It is currently unclear what the changes to the transaction are and what the position of REL is.

She continued: ‘This has the consequence that I cannot advance this today on evidence as it currently stands.’

She said administrators PKF need to ‘take stock’ of this situation and proposed an adjournment of 28 days.

Mr Justice Sales questioned where a potential adjournment would leave the club in the meantime.

Richard Sheldon, representing Portpin, said: ‘The news of the arrangement only came through yesterday evening but my colleagues here have not been fully told about the reasons it.

‘My colleagues are very concerned about the future of the club.

‘My clients do not want to see the club liquidated.’

Mr Sheldon’s comments drew laughter from some sections of the public area, filled with some Pompey fans.

After the adjournment, the judge returned to court to announce that the hearing would resume at 2pm tomorrow.