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Birch said they would attempt to fight the punishment and would meet with the Football League to try and reverse the decision - coming to an agreement with previous creditors would be one way of trying to do this.
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Brown says Pompey are still feeling the legacy of previous owners but the club are ahead of schedule in their payments to former creditors and players.
The vast majority of Greece's debts are historic commitments made to creditors by previous governments, sometimes in very dubious circumstances.
It might also involve toning down a previous deal that private creditors should be singled out if debtors cannot meet their obligations.
We've already had to change our way of life because of previous deals with international creditors.
Although the bailout package is much tougher than the Greek people could have imagined when they resoundingly rejected a previous offer from the creditors in a referendum on July 5, most want to keep the euro.
But the proposals have strayed far from Mr Tsipras's original demands, and are believed to be more in line with a document of suggestions presented to Greece by creditors at a previous meeting.
But this time Syriza, Greece's new ruling party, has alienated its creditors, making the previous solution (a co-ordinated default, coupled with a bail-out) harder to achieve.
He also revealed that money owed to creditors under any previous agreements will now be even more diminished than first promised.
Portsmouth have issued an "urgent plea" for creditors from the previous time they were in administration to contact them as they try to fight penalties imposed on them by the Football League.
There is universal anger over creditor-treatment given previous fiscal effort; and an acceptance that the country is near-bankrupt".
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