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.

Debt Management Firms Under Fire:

Three debt management firms have been targeted by the Office of Fair Trading as their standards have not been met.

What was once known as the 'UK Insolvency Helpline' can no longer trade on using this name. Money Advice Direct has been told by the Office of Fair Trading that it can no longer trade under the 'UK Insolvency Helpline' name as it could confuse potentials clients in regards to the commercial nature of the business.

Two other firms have also been targeted by the OFT.

The Director of Consumer Credit at the Office of Fair Trading has announced that if debt management companies do not meet their standards the OFT will take action against them.