3rd winding up order due

[Holy Joe]

In business ALL debt is significant. Administration would mean an independant audit of accounts and an 'auditor' placed at the forefront to lead the club forward. The first thing any club does in administration is ensure payment to HMRC - everyone else is after the taxman! Still would hate it to happen to us, but can we carry on the way we are?

I don't think ALL debt is significant - debt that is due or soon to be is significant - hence accounts split out current and long term debt. The vast majority of our debt is not due and is not costing us any cash to service - therefore I'd argue this debt is currently not significant. I don't think the taxman is a priority payment anymore in admin.

 

[Beefy]

That's right. The taxman isn't a preferential creditor anymore.

 

[Gt Yarmouth Shrimper]

That's right. The taxman isn't a preferential creditor anymore.

Which is why they are getting so stroppy with late payers now

 

[Norfolkshrimp]

Are you kidding me - most of the on-going financial crisis is due to bad commercial real estate lending - any Irish or Icelandic bank would've bent over backwards to finance this.

They didn't end of. Not even an argument to be had here. RM blamed the banks then came out with some BS that he had secured alternative funding blah blah blah.

It ain't gonna happen, simples.

 

[Norfolkshrimp]

I don't think ALL debt is significant - debt that is due or soon to be is significant - hence accounts split out current and long term debt. The vast majority of our debt is not due and is not costing us any cash to service - therefore I'd argue this debt is currently not significant. I don't think the taxman is a priority payment anymore in admin.

It's ALL very significant when it ****s your credit rating and ruins what little credibility he may have had left. Are the numerous debts to small local businesses not significant in the sense that they have caused serious problems for the companies concerned ?

It appears we don't pay anybody on time. You're right the vast majority of our debt isn't due, it's way way overdue.

 

[Beefy]

But the debt we're talking is the debt on the book which is Directors loans and has nothing to do with credit ratings.

 

[Gt Yarmouth Shrimper]

It's ALL very significant when it ****s your credit rating and ruins what little credibility he may have had left. Are the numerous debts to small local businesses not significant in the sense that they have caused serious problems for the companies concerned ?

It appears we don't pay anybody on time. You're right the vast majority of our debt isn't due, it's way way overdue.

I would have presumed that these debts have caused problems for the SMEs involved, but administration, which has been alluded to on this thread, would have meant they would receive very little or nothing at all.

 

[Norfolkshrimp]

But the debt we're talking is the debt on the book which is Directors loans and has nothing to do with credit ratings.

I'm talking about all the debt including what's owed to several other companies that have nothing to do with RM's companies or the book.

How many CCJ's do we have against our name now ?

 

[Beefy]

I'm talking about all the debt including what's owed to several other companies that have nothing to do with RM's companies or the book.

How many CCJ's do we have against our name now ?

But I was clearly referring to the paper debt to RM and other Directors which I was saying wasn't significant and therefore we don't really benefit hugely from getting it written off in an Administration. You then waded in saying it is significiant because it hinders our credit rating. Which isn't true.

 

[Billy is the best]

I'm talking about all the debt including what's owed to several other companies that have nothing to do with RM's companies or the book.

How many CCJ's do we have against our name now ?

Martin Dawn PLC 2 unsatisfied CCJ cost £1225
Roots Hall Ltd 1 CCJ cost £44487
Southend united 3 CCJ cost £49306
South East Leisure No CCJ but Credit rating suspended
Soccer Stadium PLC No CCJ yet (but are they trading?
For interest i also checked Plymouth Argyle, They have no CCJ against them.
Our credit rating is non exsistant.

 

[Norfolkshrimp]

But I was clearly referring to the paper debt to RM and other Directors which I was saying wasn't significant and therefore we don't really benefit hugely from getting it written off in an Administration. You then waded in saying it is significiant because it hinders our credit rating. Which isn't true.

I was replying to the poster MattE so unless you have two id's on the zone I wasn't answering you was I ?

 

[Smiffy]

Martin Dawn PLC 2 unsatisfied CCJ cost £1225
Roots Hall Ltd 1 CCJ cost £44487
Southend united 3 CCJ cost £49306
South East Leisure No CCJ but Credit rating suspended
Soccer Stadium PLC No CCJ yet (but are they trading?
For interest i also checked Plymouth Argyle, They have no CCJ against them.
Our credit rating is non exsistant.

Nice one.

Do we know who the creditors are for each of those as well?

 

[Billy is the best]

Nice one.

Do we know who the creditors are for each of those as well?

Unfortunately not. although i could find the case numbers. These CCJ are all from last year. Another interesting fact is that in September last year a CCJ taken out on Martin Dawn where paid off together with Southend United tax bill, presumably from the same pot of money.
Are any of Rons companies registered in the UK generating any income?

 

[Cricko]

Unfortunately not. although i could find the case numbers. These CCJ are all from last year. Another interesting fact is that in September last year a CCJ taken out on Martin Dawn where paid off together with Southend United tax bill, presumably from the same pot of money.
Are any of Rons companies registered in the UK generating any income?

Yes lot's of it from some football club, allegedly of course..

As I stated yesterday I expect the winding up order issued against MD to vanish at the same time the HMRC one against the club does.

 

[Beefy]

I was replying to the poster MattE so unless you have two id's on the zone I wasn't answering you was I ?

Yes you were. Again, you're mixing up debts with debt.

The thing is that we have a lot of debts (ie bills which need paying) but not much significant debt. Administration would wipe out the paper debt, but wouldn't leave us any more capable of paying our next wagebill or next VAT bill.

In business ALL debt is significant.?

I don't think ALL debt is significant - debt that is due or soon to be is significant - hence accounts split out current and long term debt. The vast majority of our debt is not due and is not costing us any cash to service - therefore I'd argue this debt is currently not significant. I don't think the taxman is a priority payment anymore in admin.

It's ALL very significant when it ****s your credit rating and ruins what little credibility he may have had left. Are the numerous debts to small local businesses not significant in the sense that they have caused serious problems for the companies concerned ?

It appears we don't pay anybody on time. You're right the vast majority of our debt isn't due, it's way way overdue.

 

[Norfolkshrimp]

Yes you were. Again, you're mixing up debts with debt.

Don't tell me who I was replying to. It wasn't you it was MattE.

 

[Billy is the best]

Yes lot's of it from some football club, allegedly of course..

As I stated yesterday I expect the winding up order issued against MD to vanish at the same time the HMRC one does against the club.

I agree. MD debts will probably be cleared at the same time as the winding up orders are lifted. We can only monitor the UK based companies and not those based overseas in the British Virgin Isles.

 

[Beefy]

Don't tell me who I was replying to. It wasn't you it was MattE.

Jesus Christ, MattE was referring to the point that I brought up, which was that the debt on our books isn't significant in terms of our current problems. You just either don't read things properly or you're too blinkered by your agenda to take anything in.

 

[Norfolkshrimp]

Yes lot's of it from some football club, allegedly of course..

As I stated yesterday I expect the winding up order issued against MD to vanish at the same time the HMRC one against the club does.

This the one reason I would welcome administration. I want someone to come in and tear apart this web of crooked **** once and for all.

 

[Norfolkshrimp]

Jesus Christ, MattE was referring to the point that I brought up, which was that the debt on our books isn't significant in terms of our current problems. You just either don't read things properly or you're too blinkered by your agenda to take anything in.

Agenda ? Grow up i'm just an ordinary supporter of over 30 years who doesn't make excuses for RM's actions unlike some.