3rd winding up order due

[weststander]

My first hope is that an administrator would dig hard and go back to the start of RM's involvement and nail the ****er

My second hope is that a new owner willing to take us on may come along because how do we know there isn't someone willing to but that RM won't let go ?

If he only gets 10p in the pound on his paper debts the club owe him that's him finished ????

Ron wont have to let go, as he is the major creditor of the club and should the club enter administration he is in a position to refuse offers that arent acceptable to him i.e. anything from anyone else. Much as Ken Bates did with Leeds, he will be in a position to make an offer that he will accept and even if other potential owners come forward and offer more, then he just refuses. What would also go against us is that this may take time and there would be the possibility of not only losing 10 points this season but another 15 at the start of next season if the CVA isnt agreed, so is it really the way we want it to go ? Plus as he has already written off a lot of the debt owed to him through his companies 10p in the £ shouldnt affect him at all.

 

[Gt Yarmouth Shrimper]

That's the problem, it's not a bleak future - it's a bleak present - we are almost bankrupt, under a transfer embargo, being taken to court again and cannot afford to pay players or staff - what do you suggest?

I love the fact we are doing so well on the pitch, it doesn't make a jot of difference if we cannot sort out our finances.

Can you, or anyone, confirm that as fact.

 

[MattLloyd]

Can you, or anyone, confirm that as fact.

Tara Brady

 

[MattLloyd]

Can you, or anyone, confirm that as fact.

The Football League

 

[Norfolkshrimp]

Ron wont have to let go, as he is the major creditor of the club and should the club enter administration he is in a position to refuse offers that arent acceptable to him i.e. anything from anyone else. Much as Ken Bates did with Leeds, he will be in a position to make an offer that he will accept and even if other potential owners come forward and offer more, then he just refuses. What would also go against us is that this may take time and there would be the possibility of not only losing 10 points this season but another 15 at the start of next season if the CVA isnt agreed, so is it really the way we want it to go ? Plus as he has already written off a lot of the debt owed to him through his companies 10p in the £ shouldnt affect him at all.

Is it a fact he has written off the rent etc. ? He says he has but is it actually in the published accounts or can he still go back on his word on this ?

 

[Firestorm]

Under related party transactions in the 2009 accounts there is the following

South Eastern Leisure UK ltd

South Eastern Leisure UK Ltd (SEL) is a parent undertaking the amount owed to SEL at the year end was £639,012 (2008 £ 950,308). This amount is included in creditors falling due within one year .
The Company leases the training ground from SEL and the Roots Hall Ground from South Eastern Leisure company Ltd (SEL Co) , a subsidiary company of SEL. Rent is charged amounting to £NIL (£2008 NIL)


The reason for the two seperate companies, one for each ground, would be down to the difference between the tax charged on selling a company and selling land (Stamp duty) , nearly all land/property owning companies have a company set up to own each individual propert / plot for this reason.

 

[Norfolkshrimp]

Under related party transactions in the 2009 accounts there is the following

South Eastern Leisure UK ltd

South Eastern Leisure UK Ltd (SEL) is a parent undertaking the amount owed to SEL at the year end was £639,012 (2008 £ 950,308). This amount is included in creditors falling due within one year .
The Company leases the training ground from SEL and the Roots Hall Ground from South Eastern Leisure company Ltd (SEL Co) , a subsidiary company of SEL. Rent is charged amounting to £NIL (£2008 NIL)


The reason for the two seperate companies, one for each ground, would be down to the difference between the tax charged on selling a company and selling land (Stamp duty) , nearly all land/property owning companies have a company set up to own each individual propert / plot for this reason.

Thanks very much for that.

So it's only 2010 that hasn't been written off yet ? Are there any outstanding debts to RM pre 2008 that are still owed ?

Sorry for all the questions just trying to get a clearer picture.

 

[OldBlueLady]

The Football League

Where is the proof? And as it goes I thought Tara denied it and it is purely assumption and speculation that we are under an embargo?

 

[EastStandBlue]

The Football League

The Football League wouldn't have confirmed that to you, as they don't disclose club information to members of the public.

 

[C'mon you Shrimpers]

on the 18/2/11 Tara Brady said, "We did miss a payment to HMRC but I would stress it's for a nominal fee. "Cash flow was tight and there were other priorities which included paying players, staff and insurances.

"At this stage we are not under a transfer embargo."

 

[C'mon you Shrimpers]

The Football League

not mentioned on their website or indeed anywhere else that I can see. Apart from this august website in fact.

 

[Firestorm]

Thanks very much for that.

So it's only 2010 that hasn't been written off yet ? Are there any outstanding debts to RM pre 2008 that are still owed ?

Sorry for all the questions just trying to get a clearer picture.

Personall I would interpret the phrase "Rent is charged amounting to nil " as an indication that the rent is still being charged but as an amount of £0 (therefore it can be easily raised should anyone wished as opposed to cotractually not charging Rent) . If Rent was being charged and subsequently written off i would expect to see a phrase similar to that in earlier accounts (not to hand at the moment) which said something along the lines of Rent is charged at xxxx but has not been persued.

The 2001/2 accounts had rent accurals of 1.2M

I can get the comments from the accounts between 2002 and 2007 later (they are in hard copy at home , I have the others on PDF at work)

 

[Shrimpersfan]

Now i am confused knew about the martin dawn
But the one that eluded to in my previous posts is not
Tonights one??? I was expecting 1 to come in on 21st of feb
So we shall see. But even if it people
Would probably die by martins side rather than see any bad in him
If the situation wasnt so serious it would be laughable
You guys are really starting to look silly with yor
Constant defending of this snake oil salesman

Would you visit him in the clink

For a minute then i thought we had shocking grammar on the zone ;-)

 

[MattLloyd]

on the 18/2/11 Tara Brady said, "We did miss a payment to HMRC but I would stress it's for a nominal fee. "Cash flow was tight and there were other priorities which included paying players, staff and insurances.

"At this stage we are not under a transfer embargo."

Are you all really this gullible?

Maybe you should be directing your questions at the Football League - or indeed our Finance Dept?

 

[Napster]

Are you all really this gullible?

Fact of the day: gullible's not in the English dictionary.

 

[C'mon you Shrimpers]

Are you all really this gullible?

Maybe you should be directing your questions at the Football League - or indeed our Finance Dept?

I think all anyone wants is proof rather than conjecture. And mind your manners!

 

[MattLloyd]

I think all anyone wants is proof rather than conjecture. And mind your manners!

Apologies if I sounded off hand!

I suppose just saying 'believe me' won't help either. So I will say, allegedly I believe that the club has been under a transfer emargo since last Tuesday due to non payment of players wages.

Whether you believe me or not is unimportant. But I know.

 

[C'mon you Shrimpers]

sorry if I was off hand too. Vainites as we used to say.
One of the points is if the FL does not come out and say there is an embargo then it should. It should be public knowledge. It's should not be a secret, it's a matter of fact. Fans ought to know. It makes little sense to keep it secret.
The second point is if we are under an embargo this would make Tara Brady a liar. No ifs buts and maybes, a liar. This is a serious charge of any Chief Executive especially one of his background which I understand is pretty good.

 

[MattLloyd]

sorry if I was off hand too. Vainites as we used to say.
One of the points is if the FL does not come out and say there is an embargo then it should. It should be public knowledge. It's should not be a secret, it's a matter of fact. Fans ought to know. It makes little sense to keep it secret.
The second point is if we are under an embargo this would make Tara Brady a liar. No ifs buts and maybes, a liar. This is a serious charge of any Chief Executive especially one of his background which I understand is pretty good.

Time will tell I suppose. If the Sainsburys money arrives this week and the players and staff all get paid, the Football League may rescind their embargo and everything's hunky dory. No one the wiser :winking:

 

[weststander]

Is it a fact he has written off the rent etc. ? He says he has but is it actually in the published accounts or can he still go back on his word on this ?

Although the debt is written off by his companies the amount is still outstanding, all that written off means is that it is uneconomical to pursue the debt. There are lots of debt collection agencies that purchase written off debts from companies and chase them for payment, i used to work for one.