High Court hearing v Charterhouse 14/07/2010

[Kestrel]

The odd thing about all of this is that last week the clubs Financial Director told the high court that monies were already put aside to pay Charterhouse and clear this debt....How come then at the court today CH did not just say the debt is paid.

simply put, it doesn't appear to have been paid . . . cue more ******** for us poor fans to endure

 

[Jam_Man]

There is two ways of looking at this, one positively and one negatively!

The first, is that Charterhouse have been told "look, we will pay you by Aug 2nd, we have x funds coming in, and your debt will be settled" etc

The second is that we are royally ******, and rather than wind us up, Chaterhouse are looking for the administration route so they get 10p in the £ or something.

I would say we need a club statement, but they're not worth anyone's time any more.

We were told the money would be paid today, why wouldnt it be if we had it as we were meant to have ?

This just raises so many more questions, why would Charterhouse want it delayed. ?

 

[Medway Blue]

The odd thing about all of this is that last week the clubs Financial Director told the high court that monies were already put aside to pay Charterhouse and clear this debt....How come then at the court today CH did not just say the debt is paid.

There is something very, very strange afoot here. I can't understand people looking at the situation and thiking 'it's ok, RM is the only man who can take us forward, he'll get us out of this eventually'. Something odd is going on and I don't like it.

 

[Smiffy]

The odd thing about all of this is that last week the clubs Financial Director told the high court that monies were already put aside to pay Charterhouse and clear this debt....How come then at the court today CH did not just say the debt is paid.

Yep and Ron said the same in his Vlog did he not? Something about TV monies?

I cannot imagine Charterhouse turned down any offer to pay in full what is owed, if indeed SUFC did even make the offer. If we didn't why not? We were told it was sorted. Nobody can gloss over that.

I think we could possibly owe them more than the reported £140,000, this is just one repayment we have defaulted on.

 

[Jam_Man]

Being honest, my view is its 20/80% in favour of the second.

They must realise we are (probably) going into administration and knowing we cannot pay today, hoping for a Xp in the £ deal in a month.

Would they be the next biggest debt though?

1) Ron Martin
2) HMRC
3) Charterhouse??

Trying to remain hopeful though and that Sainsburys and Martin have got this all figured out.

Until then, its all worrying hearsay and conjecture...

Surely they would then only get x in the pound for the money they could have got today.

That doesnt make sense.

 

[Napster]

I can offer another explanation. Ron has negotiated with Charterhouse about the monies owed. This has not been finalised. Hence the adjournment - giving Ron the time to pay the agreed amount, rather than just giving in and paying the first figure.

Just a suggestion.

 

[Cricko]

I guess we could always think RM has asked CH to postpone the court case today as money has not arrived yet from Sainsbury's and they have done him a favour....Or is my name Smiffy.

 

[C C Csiders]

Does anybody seriously think we will be kicking-off on 7 August against Stockport?

 

[Ulysses]

Yeah but you and me will probably be playing centre midfield!

 

[Kestrel]

I can offer another explanation. Ron has negotiated with Charterhouse about the monies owed. This has not been finalised. Hence the adjournment - giving Ron the time to pay the agreed amount, rather than just giving in and paying the first figure.

Just a suggestion.

fair point, but then why raise the issue of the HMRC Administration Audit ?

 

[Smiffy]

Either way, I think any chance of coming out of Embargo in time for K.O. has just decreased even further.

 

[Onion_Bag_Dave]

THIS IS A ****ING FOOTBALL CLUB!

Not a ****ing toy!

All rationality has gone for me, and I just want this ****er out, he IS NOT the only person that can take us forward, he is an inept useless ****ing idiot.

Get out Ron, It is time to sack yourself, nobody wants you here, we are football fans, we want somebody who can run our football club, not somebody who is looking into the future alone.

I'LL SAY IT AGAIN, IT IS A FOOTBALL CLUB, WE NEED FOOTBALLERS, **** OFF! ****!

Had enough.

 

[Yorkshire Blue]

The odd thing about all of this is that last week the clubs Financial Director told the high court that monies were already put aside to pay Charterhouse and clear this debt....How come then at the court today CH did not just say the debt is paid.

I'd like to hear an insolvency expert's take on it. There may be some legal issues regarding not prioritising one creditor over the other, were HMRC to be successful in putting the club into administration next week. It may be that Charterhouse are just taking a position to protect themselves in case the club is put into administration.

 

[Smiffy]

Can someone please explain why there is now an independent audit of SUFC's accounts?

Asking the club to provide a detailed plan proving financial security going forward is one thing.

But an Audit? That's one step away from being placed in Administration, is it not?

 

[Cricko]

Either way, I think any chance of coming out of Embargo in time for K.O. has just decreased even further.

I make you right mate....Even if RM is diverting all his pennies towards the PFA to try to get it lifted they are now to embroiled into the whole messy picture to even consider lifting it.

 

[shrimperton]

THIS IS A ****ING FOOTBALL CLUB!

Not a ****ing toy!

All rationality has gone for me, and I just want this ****er out, he IS NOT the only person that can take us forward, he is an inept useless ****ing idiot.

Get out Ron, It is time to sack yourself, nobody wants you here, we are football fans, we want somebody who can run our football club, not somebody who is looking into the future alone.

I'LL SAY IT AGAIN, IT IS A FOOTBALL CLUB, WE NEED FOOTBALLERS, **** OFF! ****!

Had enough.

Completely agree, **** off ron you have turned us into a complete joke, you have brough upon us the worst time in this clubs history!!!

 

[Cricko]

I'd like to hear an insolvency expert's take on it. There may be some legal issues regarding not prioritising one creditor over the other, were HMRC to be successful in putting the club into administration next week. It may be that Charterhouse are just taking a position to protect themselves in case the club is put into administration.

So what you are saying Matt is things today do not sound positive at all?

 

[Beefy]

Yep and Ron said the same in his Vlog did he not? Something about TV monies?

I cannot imagine Charterhouse turned down any offer to pay in full what is owed, if indeed SUFC did even make the offer. If we didn't why not? We were told it was sorted. Nobody can gloss over that.

I think we could possibly owe them more than the reported £140,000, this is just one repayment we have defaulted on.

I would guess that you're right and we owe them a lot more than the 140k. We may well have been able to pay the amount from the Winding Up petition today but Charterhouse want to keep proceedingsgoing pending the result of the HMRC petition.

 

[Lord Football]

This is extremely worrying.

My understanding of the situation is, that with just 7 or so players, the FL will ask us to guarantee our "golden share". That may cost us anything between 10 and 17 points (the Leeds scenario). If we are unable to guarantee we can field a side against Stockport, the FL will remove us from the competition before we start.

We clearly cannot make any guarantees until the PFA debt has been cleared AND HMRC have been paid and that cannot be until 2nd August.

In a best case scenario, we will need to bring a number of new players in a four day window.

Of course, we may go into Administration on 2nd August. This obviously brings us a 10 point deduction, but also the requirement to clear our assets out. As far as I can see our assets are 7 players and a new management team. I believe whilst in Admin we cannot purchase any players. So, unless the consortium or another body come in on 2nd August and clear all the debts and take us out of administration immediately, and then buy enough players to field a side, we are dead.

All in all, it ain't good.

 

[Kestrel]

nice reporting on the official site . . . brief and to the point with little subtance and no mention of the HMRC audit . . . . enough of this crap, stop ****ing about and tell the fans the truth IN FULL or get the **** out of our club now Martin !!