Pre-Match Thread HMRC v SUFC - FINAL hearing on 1st March. DISMISSED

[geoffmundo]

42 days is not that long, given that in early October we were only a couple of weeks away from receiving Bridging finance? We can only hope that any conditions (or provisos) that the finance company insist on can be met relatively quickly and that all the Credit approvals are already agreed and not subject to approval...

The other takeaway point for me (apart from whats been said in the previous 5/6 pages) is that I thought from recent club statement at the end of December that we were working closely with HMRC regarding the status of the clubs financial recovery progress......which to me would seem very sensible, to head off and avoid any surprises arising in court, no?

 

[TJC]

Incredible to think we are at the mercy of one loan company. They can really screw Ron now and get what ever terms they want.
If their 'internal process' decides not to lend, we are toast!

 

[Whispering Bob]

Why bother- get into an argument that it’s plenty of time if the judge/HMRC weren’t so lazy- a rabbit hole best left alone. But the report from the court says submitted 17th

Fair enough.

 

[sufc4life21]

How much is the tax debt? If he wants 5 mill loan, the debt to hmrc must be pretty high. This looks pretty bleak for Southend! with no hope of takeover and just relying on bent owner to save them. These type of stories tend to end 1 way, not in good way.

 

[Shrimper]

It sounds like Ron is close to getting the financing. The club has to keep the fans in the loop though. It cannot go silent, we need to know if/when we get the finance

 

[Crawliano]

All I've had in my head is Ron Martin running about like Ian Beale just before he was declared bankrupt being told to do one by everyone he's ****ed off at some point all day. FWIW I genuinely think that it's not going to end up with Ron crying in the back of his accountant's car on the way to court and that things are going to (just about) be ok.

I'm not at mercy to say who the club is (It's 100% not SUFC), but I've been doing work with one recently who are looking to secure finance against a heap of conditions so have some experience with the process.

If it puts anyone's minds at rest, getting to the stage that the club were at today in court, should mean a lot (maybe not all, mind) of the lenders' concerns have been put to bed, I've lost weeks of my life having to go back and review work that's been put together to answer a question that I've already been asked in a slightly different way because another "what if?" has come up.

 

[Blues4LifeDan]

I think it's always easy to look at it from a point of view that involves Ron Martin's actions.

However, I think we should look at it from a judge's point of view. If the majority of the fans were the judge, there would be no sense of being impartial and the majority wouldn't believe Ron and his promises, understandably. Therefore, the club would be wound up there and then.

The judge is impartial though, and looks at the facts. I'm inclined to believe that he must have been privy to some concrete evidence which supports that what Ron is promising is actually true. Judge's don't just accept that the defendant is being truful just based on a whim. Substantial evidence would have to be brought to the fore in order for the judge to be convinced to adjourn. In fact, it's Ron's failings and misdemeanors that make me even more certain that things must be in place. Ron has an awful history across the board and a judge would never let this be adjourned if things weren't in place further down the line.

I'm not that fussed about the embargo to be honest, if it means our future is secured after March the 1st. Our squad is more than sufficient to compete for the playoffs if we keep our players. Additions aren't really necessary. Yes Blondy's loan is due up soon but Colin isn't too far away from fitness, with Arnie not far behind. It's the payment of wages/or lack of, that still worries me. Hopefully this will be sorted too.

I'm personally trying to be positive. Focussing on the training pitches being built, the promise of £5m coming in (judge has given Ron the benefit of the doubt) and a team that's working wonders. Hopefully things that are all going in the right direction.

Stay positive everyone.

UTB!

 

[mattytheshrimper]

Lets pretend for a moment that Ron gets the bridging loan and HMRC are happy for the time being at least. We then move training grounds in the spring leaving Boots & Laces ready for development. Do we even have the building contractors in place to start building as I assume time will be of the essence. I remember reading on here that we needed to go out to tender (again) but I'm not sure if that's just for the stadium or the property development too? I'm also assuming that houses are getting started first, I haven't read all of the plans.

 

[Jai]

Indeed, perhaps a few quid in donations from somewhere would help with attendance at such events I would guess.

Be fascinated to hear what Dudderidge in particular would say about an independent regulator, given that he has trousered thousands in donations from Ron. An independent regulator would be the death knell for Ron and the saviour of his city's football club. I guess it would be a straight decision - does he care more about money, or the club?

 

[basilrobbie]

I asked CP about the lack of coverage and investigative journalism from the Echo and was told there isn’t enough staff. Found that staggering considering the importance to the City and some of the stories that they do cover.

Our local paper didn't cover our court case in any depth either. We had to do it ourselves. Nearly thirty days worth in total, and it is hard work.

 

[WestyReturns]

It sounds like Ron is close to getting the financing. The club has to keep the fans in the loop though. It cannot go silent, we need to know if/when we get the finance

Doesn't sound like it to me. He's drowning in debt and is using hopeful statements of intent to bide for time. Ron's so deluded he believes his own lies.

 

[WestyReturns]

I'd love to know what Gary Locketts stance on all this is? He's a director of the club so is liable to the club trading when insolvent.

 

[Crawliano]

Doesn't sound like it to me. He's drowning in debt and is using hopeful statements of intent to bide for time. Ron's so deluded he believes his own lies.

You don't get any lender of this nature to give you a letter intending to give you money just on spinning a few lines.

This isn't them doing a quick Equifax check and deciding whether to give him a credit card with a £5k credit limit. There's going to be business analysts over every inch of his projections asking question after question to ensure that their money is going to come back and then some.

This transcends Ron.

 

[Smiffy]

Just a reminder of the current situation as of today:

The Shrimpers remain in a transfer embargo due to the winding up petition, meaning boss Kevin Maher has been unable to add to his squad since the end of September. Staff at the club are also still waiting to be paid their salaries for December.

Blues back in court as fans fear for future of club

SOUTHEND United are back in court today – with fans fearing for the future of the football club.

www.echo-news.co.uk

 

[Supershrimper]

Be fascinated to hear what Dudderidge in particular would say about an independent regulator, given that he has trousered thousands in donations from Ron. An independent regulator would be the death knell for Ron and the saviour of his city's football club. I guess it would be a straight decision - does he care more about money, or the club?

I was going to refer to my previous post regarding this in another thread but it appears to have been deleted along with the thread. Ron has given a grand total of £5k.

£2k to the Conservative party (Rochford and Southend East) in 2017
£3k to James Duddridge in 2019

Its very well laid out for all to see (until this post gets deleted) on the Electoral Commissions website with all funds declared promptly.

Search - The Electoral Commission

 

[kentblues]

Just a reminder of the current situation as of today:

The Shrimpers remain in a transfer embargo due to the winding up petition, meaning boss Kevin Maher has been unable to add to his squad since the end of September. Staff at the club are also still waiting to be paid their salaries for December.

Blues back in court as fans fear for future of club

SOUTHEND United are back in court today – with fans fearing for the future of the football club.

www.echo-news.co.uk

That really is lazy in the Echo- says staff are waiting Dec salaries as if all are. It’s some staff are waiting (presumably still are but we don’t know). Is it so hard to get right. Of course that is still completely unacceptable. But no doubt will keep the Echo off the Xmas card list…

 

[rigsby]

Fair play to the MP's to go up in person to support the club and not just send a letter.

Two ways of looking at that.

A) Its good to see them support their club. We have moved on from the days of Southend Councillors openly stating they don't want football in the town. Which is the reason Vic threatened the Basildon move and run up too many debts as the years ticked by.
Also about 7 years ago some Rochford Councillors boasted they didn't like Ron and would do their best to block the stadium.

B) Now the project involves nearly 2000 houses is the only reason MP's are taking an interest. The football club is way down the list.
It solves a lot of personnel headaches for them. That amount could be spread over 30 different sites and that means 30 different NIMBY groups pestering their local MP's.

Either way the longterm outcome will be good for us fans. The faster we see houses the faster we get a new owner.

 

[Supershrimper]

That really is lazy in the Echo- says staff are waiting Dec salaries as if all are. It’s some staff are waiting (presumably still are but we don’t know). Is it so hard to get right. Of course that is still completely unacceptable. But no doubt will keep the Echo off the Xmas card list…

I do sometimes wonder if a lot of their articles are completed using ctrl + c and ctrl + v from past articles.

 

[Shrimperstrust]

Trust Statement - 18th January 2023

The Shrimpers Trust understands Southend United Football Club have been granted an adjournment in respect of outstanding monies owed to HMRC.

On 1st October 2022, when a Time To Pay agreement was cancelled by HMRC, Club owner Ron Martin declared it would be "weeks not months" before bridging finance was secured to discharge the debt in full.

On 31st December 2022, Chief Executive Tom Lawrence confirmed that bridging finance was the short-term solution to the club's current financial issues, and that it would be used to pay off the HMRC debt, resulting in the winding-up petition being dismissed.
Now, on 18th January 2023, that bridging finance still does not appear to have been finalised. The debt to HMRC is still to be discharged. A winding-up petition remains in place, with the next court date on 1st March 2023 marked "final", together with a National League embargo.

In our statement following the club's previous appearance at the High Court, we requested that Ron Martin sorts out the mess that threatens the existence of our football club. Head Coach Kevin Maher echoed those sentiments in a recent interview with BBC Essex, calling on the chairman to produce in the same way his squad have.

Kevin and his coaching team, and the hardworking staff throughout the football club, deserve better. On the pitch, we are firmly in the play-off picture with eyes fixed on a return to the EFL, as well as being possibly just three wins from an FA Trophy final at Wembley.

That is remarkable, but this progress on the pitch risks being threatened, not just because there is currently no prospect of any essential signings in the event of injuries to key players, but because there is unrest amongst supporters about the ownership of the club.
The Shrimpers Trust calls upon Ron Martin to urgently confirm when bridging finance is now to be expected, and how the club will be able to function until work begins on the new stadium at Fossetts Farm.

We expect all salaries to be paid on time. We expect outstanding monies to suppliers to be resolved. We expect loans to be returned and the club's accounts to be filed. If these expectations cannot be met, then bridging finance is not the solution.

We are disappointed that the can has been kicked down the road. The dark clouds continue to gather over Roots Hall. We need genuine hope that on-field delivery will be matched off it by the owner.

If you have any questions for the Trust please feel free to contact us via our website, http://www.shrimperstrust.co.uk or by email on info@shrimperstrust.co.uk

The Shrimpers Trust Board

 

[gpd]

Nice of them to remember that the club exists

To be fair Anna Firth attends regularly and mentions the team in her social media each game. Not sure if "the other one" does anything.