Portsmouth were placed into administration for the second time in two years by a High Court judge on Friday.
Mr Justice Norris approved an application by directors at a High Court hearing in London after being told that the npower Championship club owed millions of pounds.
He said he was satisfied that Portsmouth was insolvent and hoped that the appointment of financial experts to manage affairs would allow the club to "stagger on" until a new buyer could be found. The High Court appointed PKF as administrators, overlooking Hacker Young who had previously undertaken the role for Portsmouth.
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