Insolvency Expert to help Pompey fans Take over bid

Antony Fanshawe, insolvency expert at Begbies Traynor, is hoped to be able to seal the deal for fans of Pompey to take over the club. He will use his 30yrs of experience in the insolvency industry to pull together the strands to form a successful bid for the Pompey Supporters Trust, along with the administrator Trevor Birch.

According to the trust, talks are continuing with 5 ‘high net worth individuals’, all lifelong Pompey supporters. Mr Fanshawe has appealed to fans and businesses in Portsmouth to get behind the bid.

Mr Fanshawe is said to be delighted to be involved with the bid and is keen to help the trust see what they can do.

Antony Fanshawe qualified as a chartered accountant with PriceWaterhouseCoopers in 1980. He set up ‘Fanshawe Lofts’ in 1990 – a corporate finance and recovery business in the South of the country, which later merged with Begbies Traynor in 2008.

Meanwhile, Pomey’s former owner, Balram Chainrai, is looking to reveal CVA proposals in the next few days.

Pompey exiting administration through this method would mean avoiding points penalties next season.

Barclays bank makes £2.45 billion profit

In the first #quarter of this year #Barclays made a #profit of around £2.45 billion which is well ahead of their expectations.

#Barclays took a £300m hit to cover payment protection mis-selling claims, which has become a major cost in recent moths for most #banks.

In a bid to deal with the problem, it set aside a £1.3 billion cushion after a rise in #PPI claims.

It said the unexpected success were largely down to the UK's retail #banking division and Barclaycard, which both performed well.

Barclays chief executive Bob Diamond has been criticised over his £17.7 million pay package for 2011, which is expected to come under increased scrutiny at the bank's annual meeting on Friday despite recent moves to subdue a #shareholder rebellion.

Insolvency Practitioners Panel:

Jameson Smith & Co have a great panel of Insolvency Practitioners to choose from. We like to provide our clients with the very highest standard of insolvency solutions at a fee that suits. While an Insolvency Practitioner is not always required and would not usually be the first port of call for a Director we have the very best of the bunch working with us! 

Reliability is never an issue with our Insolvency Practitioners and if a Director needs to put a company into liquidation or is considering a Company Voluntary Arrangement to help a company trade they can be sure that we will conduct the entire process sensitively and effectively, using some of the very best Insolvency Practitioners in the UK!

For more information about insolvency solutions call us today.

Quarter 3 Company Administrations Up:

The amount of administrations carried out for limited companies is on the rise according to the London Gazette this week with an increase of 7.8 per cent. Cases in London remained the same as last quarter and the North East has seen the largest change in percentage with a 46.2 per cent increase. The Midlands saw a rise of 24.7 per cent.

Statistics from the London Gazette suggest the construction industry were the hit the hardest out of all the sectors. The retail industry and the services industry followed not far behind.

Other sectors included during the last quarter are 50 property companies, 67 from manufacturing, 60 from leisure and hospitality, 26 from healthcare and 55 from the Telecoms, media and technology industry. 

Company Administration can be a viable solution depending on the insolvency situation involved. If you would like to know more about administration or other insolvency solutions available contact us on 08000 747 757.

First Quartile Limited Complete Pre-Pack Administration:

A marketing company (First Quartile Limited) to brands such as JP Morgan, AXA & Prudential has finished a Pre-Pack Administration and is to be sold to a London-based agency.

MacIntyre Hudson were appointed as Administrators earlier this month.

A Pre-Pack Administration can be a much cleaner process as it gets rid of the retrospective liabilities attached to the legal entity, allowing for a clean start going forward.

To find out more about insolvency solutions and some of the services available to your company contact us.