David Sullivan has reiterated his fears that Portsmouth will "cease to exist" within the next six to 12 months following their return to the High Court to answer further questions posed by Her Majesty's Revenue & Customs.

GettyImagesPortsmouth are now in administration

• Revenue demands Pompey probe

High Court judge Mr Justice Norris said on Tuesday there is a "shadow cast over the appointment of Pompey's administrators" after HMRC questioned the voluntary administration entered into by the club. Portsmouth's case has been adjourned until March 15.

On the eve of the Premier League's shareholders meeting on Thursday, the West Ham co-owner is more convinced than ever that Pompey are in real danger of going bust. Sullivan revealed last week he was deeply concerned that one or both of Pompey or Crystal Palace will cease to exist within nine to 12 months, and developments in the past few days have heightened his fears.

Sullivan told Soccernet: "Yes, I still believe this will happen in the next 12 months, maybe even sooner. One or both of these clubs will cease to exist.

"The attitude of the Revenue this week to Pompey has surprised me - they have been particularly difficult toward them, yet in the recession they have been generally accommodating to keep businesses alive.

"It might well be that they have been knocked by football clubs in the past and now they are making a stand. But it baffles me, because if Pompey are liquidated, the players, which are the club's only assets at the moment, would become free agents and they would have no assets at all."

West Ham have most to lose if Portsmouth go bust now as they would drop four points in the battle against relegation, and co-owner David Gold will attend Thursday's meeting of chairman and chief executives.

Despite all the speculation about advancing TV monies and parachute payments, the Premier League is yet to be convinced or indeed make any such decision regarding how best to help Portsmouth.

Balu Chainrai, the current owner, has told the courts that he will fund the club for the next two months and pay wages, but the Premier League would be loath to set a precedent that would make it easier for clubs to fall into administration, thinking the League will bail them out.

Sullivan said: "When this last came up three weeks ago, a lot of clubs were thinking it might be a good idea [to help Portsmouth]. But Burnley, for example, might have thought it was okay then but, having just lost, might not think so now!

"However, I would be in favour of anything that buys them some time. You never know, if they find a new owner, they might survive. Anything is possible."