Norwich law firm to probe Portsmouth football club finances
Howes Percival has been called in to assist with the investigation into the finances of Portsmouth football club.
The Norwich-based law firm has been instructed by insolvency practitioners Geoff Carton-Kelly and David Hudson of Baker Tilly Restructuring and Recovery LLP, the joint liquidators of Portsmouth, to assist with their investigations.
Geoff Carton-Kelly and David Hudson of Baker Tilly have instructed Nick Oliver, partner and head of Insolvency & Corporate Recovery at Howes Percival, and his team, following their recent appointment as joint liquidators.
Mr Oliver is a specialist in forensic insolvency investigations and fraud related insolvency issues. He is also currently assisting the trustee in bankruptcy of Asil Nadir.
He said, 'This is a high profile, complex case which has received worldwide media attention, primarily because Portsmouth was the first premiership football club to enter administration. The unsecured creditors are believed to amount to in excess of �83 million, with up to �35 million owed to HM Revenue & Customs.
You may also want to watch:
'The liquidators have identified significant issues that require detailed investigation.'
In December 2009, HMRC presented a winding-up petition against Portsmouth. In February 2010, insolvency practitioners from UHY Hacker Young LLP were appointed as administrators of the company. The company had amounted estimated debts of in excess of �83 million. The club was docked nine points as a result of the administration and was subsequently relegated to the Championship.
- 1 Man in 20s drowned in Bawsey Country Park lake
- 2 Amazing photos show storms over Norfolk – and there are more to come
- 3 Elderly man took his clothes off at Norwich park
- 4 Man, 20, who drowned at Bawsey Pits is named
- 5 'I can't carry it' - Shock as plant starts growing eight inches a day
- 6 Cat food brands recalled over link to fatal disease
- 7 School shut after ceiling tile falls on to class of children
- 8 See inside the 'tiny mobile homes' built from scratch for £95,000
- 9 Two Norfolk villages named among most beautiful to visit in England
- 10 Tributes to popular Tesco worker with 'sparkling personality'