News Opinion Technology, Media and Telecommunications Opinion: The ins and outs of the football creditor rule By The Lawyer 28 February 2010 00:00 17 December 2015 09:35 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Anonymous 30 November 2011 at 20:12 Um … no formal insolvency procedure at Portsmouth? Correct me if I am wrong by all means … but was there not a winding-up petition presented in December 2009, an administration (administrators appointed in February 2010), a CVA (challenged, unsuccessfully, in August 2010) and finally a winding-up order on the original petition following exit from administration at the beginning of 2011? That looks like quite a lot of formal insolvency procedures to me! Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.