Breaking News Court Case Adjourned

[Berrichonne shrimper]

All efforts to get rid of ron should now stop,close all the groups and put away the banners,no need to protest march or get angry.
Let ron do all the work for us,just as he did with HPC,bye ronnie the walls are closing in.

 

[Firestorm]

It's all much of a muchness these days they are so intertwined...If SUFC have paid some monies towards the project re: Deloittes CCJ and that is only one figure we are sure of, I don't know how you can separate them anymore...Do you honestly think all the monies RM/Sainsburys are putting in to save the club are for the benefit of SUFC....Of course they are not it is all to save the long term project and the whole redevelopment.

The original statement was "We are unable to even run the club on a day to day basis. How we are meant to have funding in place for a 70 million pound development I have no idea..."

I was just pointing out that the "We" refered to in the unable to run a club comment will have nothing to do with finding funding for the development.

"If SUFC have paid some monies towards the project re: Deloittes CCJ" , If SUFC have paid these monies , why is there a CCJ and why is it on listed on the how much money will RM need thread.

That indicates to me that SUFC have NOT paid the money and that in order to pay this the money will probably come from an RM company,

Sainsbury's have lent/ paid the money to an RM company, That company has , in turn lent it to another company SUFC Ltd in order to keep that company trading because it is in the interests of all that SUFC Ltd is kept trading.

As you say , they are all in it for the long yerm project and long may it continue, as it is this long term interest which is bailing out a short (ish ??) tem cash flow problem

 

[united we stand]

I heard the BBC Essex reporters talk from the court house.
In lay mans terms, HMRC have had enough, definitely of Southend, probably Ron Martin. Southend are incontrovertibly insolvent and persistent defaulters.
HMRC played hardball and tried very hard to get Southend put into administration.

Southend said they always settled their tax bill in the end and quoted the massive amount paid last time.
The current tax bill of £238,710 was settled, but HMRC said Southend defaulted on another VAT bill that was due yesterday.

HMRC said what is the point giving Southend another chance, they will just be back here again and again.


Southend basically said that they are in negotiations to secure more money from Sainsbury's over the Roots Hall plot, and then all debts will be settled.
They also said Southend are in a much better trading position now than in previous court appearances.

The judge asked for proof of the last two points above.
Southend did not have proof with them.

The Judge wants to see the proof before deciding whether to put Southend into administration on August 2nd.




On a seperate note, Southend mentioned the amount that was due 186K from the Nicky Bailey transfer, that they were not relying on for the court case today.

this post should be a sticky!

• We actually paid the money - good news (it also explains why Ron thought he would be OK going on holiday.
• It gives the context to why we mentioned the Bailey Money
• The club has to explain its buisness plan- this is what most of us have wanted
• The business plan will be assesed by people who (i assume) have a better grasp of these things than most of us

roll on 2nd August.

 

[Jam_Man]

SUFC will not be securing the finances for FF though.

That will be the company arranging the build, SEL, RHL, Metzcal, MD , Tribeca ...one of them

I know, but my concern isnt whether Southend United can fund it, but whether any of the companies can.

When the football club has needed money for the day to day running and has been unable to fund itself Ron Martins company put money in.

However they clearly are unable to now which begs the question if they cant do that, how can they secure funding.

It doesnt matter whether its the club, SEL, Ron Martin himself, the whole organisation looks bankrupt right now, even Martin Dawn are up for tax payment issues.

If Ron Martin cant afford to run Southend United and has to go cap in hand to Sainsburys for SUFC bills where is he going to get the money for the stadium?!

 

[westie]

We have to look at this objectively, without our United hats on. This beloved Club of ours is clearly in financial crisis.

How many more times will SUFC be allowed to default on its financial commitments?

Wages are NOT being paid on time. Taxes are NOT being paid on time. HMRC are determined to put the Club into Administration and it seems to me the Courts' patience is running out.

"Robbing Peter to pay Paul" is no way to run this or any other business. I don't believe Ron Martin has anything to offer this Club and sadly, Administration seems to be the only outcome.

 

[A Century United]

We have to look at this objectively, without our United hats on. This beloved Club of ours is clearly in financial crisis.

How many more times will SUFC be allowed to default on its financial commitments?

Wages are NOT being paid on time. Taxes are NOT being paid on time. HMRC are determined to put the Club into Administration and it seems to me the Courts' patience is running out.

"Robbing Peter to pay Paul" is no way to run this or any other business. I don't believe Ron Martin has anything to offer this Club and sadly, Administration seems to be the only outcome.

Any "objective" assesment that fails to mention the role that it seems Sainsbury's have chosen to play in this soap-opera isn't terribly objective.

 

[Csboy]

We have to look at this objectively, without our United hats on. This beloved Club of ours is clearly in financial crisis.

How many more times will SUFC be allowed to default on its financial commitments?

Wages are NOT being paid on time. Taxes are NOT being paid on time. HMRC are determined to put the Club into Administration and it seems to me the Courts' patience is running out.

"Robbing Peter to pay Paul" is no way to run this or any other business. I don't believe Ron Martin has anything to offer this Club and sadly, Administration seems to be the only outcome.

Good post totally agree with you. I am afraid I have lost all hope in the new ground being built or Ron Martin delivering anything other than killing the club. I hope I am wrong but I see some very dark times ahead and we could be in real danger of the club ceasing to exist at all unless we get some fresh investors in and get Martin out of the club before he ruins it completly.

 

[McNasty]

Good post totally agree with you. I am afraid I have lost all hope in the new ground being built or Ron Martin delivering anything other than killing the club. I hope I am wrong but I see some very dark times ahead and we could be in real danger of the club ceasing to exist at all unless we get some fresh investors in and get Martin out of the club before he ruins it completly.

Surely if Sainsburys are now promising to pay the bills things should be looking brighter.

 

[THE SEVENTIES NORTH BANK]

Surely if Sainsburys are now promising to pay the bills things should be looking brighter.

The only trouble with this is that statement came from the club to avoid administration, and as we know, they are economical with the truth. For all we know Sainsbury's may have only promised to pay any bills to stop Southend going into administration.

If they are going to pay all bills, then surely that should start within the next few days. We shall see. Lets all pray.

 

[Interpol Shrimper]

The only trouble with this is that statement came from the club to avoid administration, and as we know, they are economical with the truth. For all we know Sainsbury's may have only promised to pay any bills to stop Southend going into administration.

If they are going to pay all bills, then surely that should start within the next few days. We shall see. Lets all pray.

By economical with the truth do you mean lie pathalogically?