The £14.2M is the amount Chainrai was owed according to the creditors list the last time Pompey were in administration in 2010, he then bought the club out of administration and sold it to CSI whilst keeping ownership of the Fratton Park himself. We won't know for sure how much he's owed now...
A business in administration cannot trade on an insolvent basis - ie the court appointed Administrators can't run up debts that are not covered. It's only the pre-administration debts that are ring-fenced, any PAYE, VAT etc etc incurred subsequently have to be paid.
Sorry for some low key pedantry but I think you may mean "second" here; this is now the third time Pompey have been in Administration since Dec 1998.
Is the wedding list out yet - John Lewis, Debenhams..........?
So you're saying the deal, even including the "saving" on Wilson's salary at Pompey, was cash negative for the club? If this is true then the Administrators could have something to answer for after all - assuming anyone's interested that is (didn't HMRC challenge his impartiality last time?)...
Fratton Park is owned by Balram Chainrai, their former owner who sold the club in to Convers Sports Initiatives last year; the surrounding ground/area is still owned by Alexandre Gaydamak who bought the club from Mandaric in 2006.
It's got nothing directly to do with Chainrai's position as landlord.
1) If either he or Gaydamak are owed money by the club the they are probably secured creditors - ie the loan(s) are secured against whatever assets Pompey still have. Secured creditors are first in the queue to be paid if...