HMRC in Court to Block UHY from Portsmouth Appointment
HM REVENUE & CUSTOMS is today in court attempting to stop UHY Hacker Young administrators from taking the possible Portsmouth FC appointment.
The proposed administration, which is due in the next few days, would be the second administration for the championship side - after UHY were appointed to the first in 2010.
The taxman has confirmed to Accountancy Age that a court hearing is taking place today, in an attempt by HMRC to block UHY administrators' from taking the administration appointment.
Andrew Andronikou, Peter Kubik and Michael Kiely, partners at UHY Hacker Young, were appointed joint administrators to Portsmouth FC two years ago.
At the end of last year Andronikou and Kubik were appointed administrators to the club's parent company Convers Sports Initiative.
Yesterday Andronikou confirmed to BBC Radio Solent that the club had recommended UHY Hacker Young to handle the proposed administration.
In 2010 Portsmouth administrators achieved a Company Voluntary Arrangement (CVA) to rescue the club following its collapse. As part of the CVA they transferred the business of football, such as players, managers and the League membership, to another company. The administrators, who became the supervisors, also agreed to repay creditors a percentage of their debt over a contracted period of time.
The original shell business was liquidated with Baker Tilly partners Geoff-Carton Kelly and David Hudson appointed in March 2011.