See there's the problem.
Mezcal for starters (Who are top of the pile I believe) are based in the British Virgin Isles?
Just seen this on a Grimsby forum. Details things quite well I think...
1] Sainsburys supplied a loan of £2.5m to the club to enable them to pay their recent debt to HMRC.
2] Sainsburys supplied a further loan of £3m to pay part of a £7.7m debt to the local council. The club still owes the other £4.7m.
3] Sainsburys also loaned the club a further £1.8m to pay other debts.
These are interest-bearing loans which, if not repaid, would lead to Sainsburys taking 76% of South Eastern Leisure Ltd. [prop. Ron Martin] and therefore a controlling interest in the club. Sainsburys would then be free to sell the company to whomever they wished.
4] Southend currently lease a 10 acre training ground from the council through South East Leisure Ltd. [prop. Ron Martin] and the council has agreed to sell this site to Roots Hall Ltd [prop. Ron Martin] but has not yet received the money. This site is a key part of the new stadium development and would also, therefore, become the property of Sainsburys should they take control of that company.
4] Roots Hall Ltd has also agreed to buy 2.3 acres of council land containing a number of properties around the Roots Hall site in order to allow the construction of Sainsburys new store to go ahead. The council has not yet received a penny of that money.
5] The 32 acre site which forms the balance of the new stadium development was purchased from the council for £1,76m in 2007 by Tribeca Property Southend [prop. Ron Martin]. This company is registered in the British Virgin Islands and is owned by another Britsh Virgin Islands company Mezcal Investments [prop. Ron Martin] .
6] Prospects College, which stands in a crucial position as it's site will form the entrance to the car park of the proposed superstore, has refused to have any dealings with any Ron Martin company and is negotiating the sale of its site directly with Sainsburys.
7] Sainsburys also own the land on which the club shop and the entrance to the Roots Hall ground are situated.This was sold to them for £578,000 by Roots Hall Ltd. in return for a £1.2m loan.
8] The club now have just 9 contracted first-team players, some of whom have not been paid recently.
9] A transfer embargo is in place as the club has not repaid a loan of £120,000 to the PFA used to pay outstanding wages last season and also owes loan fees to other clubs.
10] The club has 4 CCJs aginst it, any one of which could lead to a winding-up petition. These resulted from non-payment of money to Deloittes, who did the Fossets Farm feasibility study, a hospitality company. a loan company and a local conference venue - they did not pay for their Player of the Year function! These six-figure debts are in addition to money owed to various directors, past and present, and The Shrimpers Trust.
11] Martin Dawn plc [prop. Ron Martin] owns 50% of South Eastern Leisure UK [prop. Ron Martin] which owns 76% of the club's shares. Martin Dawn plc has debts of £7.6m and is facing a winding-up order from HMRC.The club pays Martin Dawn plc £60,000 per annum as a 'management fee' but what it does for this money has never been specified.
Between 2006 and 2009 Mr Martin took interest-free loans from Martin Dawn plc amounting to £4.7m.
12] Southend United owes £1m to South Eastern Leisure which in turn owes more than £3m to Martin Dawn. Mezcal Investments is owed £1m by Southend United, £3.58m by South Eastern Leisure UK Ltd. and £930,000 by Roots Hall Ltd. It is not known how these debts are linked to Ron Martin's other companies in the British Virgin islands, Cyprus and Jersey! In total, Ron Martin owns 29 companies - 12 of which are registered in this country. The 12 registered here are in debt to the tune of £22m!
