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Portsmouth bank accounts frozenJanuary 30, 2012 « Mandaric paid money to 'special guy' Redknapp | 'Hurting' Panesar eyes improvement »
Portsmouth say their bank accounts have been frozen following the winding-up petition issued by HM Revenue & Customs.
Andrew Andronikou, the administrator of the club's parent company Convers Sports Initiatives, revealed last week they owe £1.6 million in unpaid tax.
However, Pompey are confident their accounts will be reactivated in the coming days so that staff wages can be paid.
A statement on the club's official website read: "Further to our recent update that a winding-up petition has been issued and publicised to Portsmouth Football Club, the club's bank accounts have been frozen, which is the normal process in these circumstances.
"The club is now seeking a validation order from the court in order to have its bank accounts unfrozen so that staff wages and suppliers can be paid.
"This is expected to take a few days and once obtained this will allow our bank accounts to be reactivated.
"Based on our current information we expect this process to be completed by the end of the week and would like to thank all our staff, fans and suppliers for their ongoing support."
Portsmouth's winding-up petition will be heard in court on February 20.