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

[Petejames]

It is all very strange … I heard by a really reliable friend that works in this big company that has agreed this bridging loan it was signed off and a deal done in November….

 

[Supershrimper]

So if its agreed, is Ron waiting until the last minute (so to speak) to draw it down for the reasons that have spoken of before?

I'd imagine if you owed someone money and you had the means to pay it, but those means were built in with high interest you'd wait until the last possible moment to draw down on it.

That being said, you would think he would draw down on some to pay staff salaries, wages, St Johns etc.

 

[Rob1920]

As others have said, the debt to St John’s is peanuts to some of the people involved with the club. Why no one has paid that is beyond me..

 

[NZamba Legend]

It is all very strange … I heard by a really reliable friend that works in this big company that has agreed this bridging loan it was signed off and a deal done in November….

I remember people saying that on here too. Just shows you it's not just 'pessimistic' rumours that should be dismissed out of hand.

 

[Medway Blue]

So if its agreed, is Ron waiting until the last minute (so to speak) to draw it down for the reasons that have spoken of before?

Quite probably. I struggle to understand why that can't be communicated though. Still ****, and **** for the people waiting to be paid especially, but at least gives some hope that we will make it beyond the end of the month. Then we can turn attention to getting him to commit to a succession/exit plan and timetable.

 

[Napster]

It is all very strange … I heard by a really reliable friend that works in this big company that has agreed this bridging loan it was signed off and a deal done in November….

and yet, I've heard very recently the exact opposite from someone reliable.

 

[Medway Blue]

It is all very strange … I heard by a really reliable friend that works in this big company that has agreed this bridging loan it was signed off and a deal done in November….

Yeah, it is strange. I had heard (not sure how true) that it had been agreed on the side of the lender but that Martin was waiting to sign-off on it as he had other irons in the fire (external investment for a slice of the pie, etc.), but I was under the impression that these were recent developments. If the loan had been agreed on the side of the lender as far back as November then that opens up a whole other can of worms and poses another list of questions that will probably never be answered truthfully and transparently.

As others have said, the debt to St John’s is peanuts to some of the people involved with the club. Why no one has paid that is beyond me..

He owes money to all three Directors. I can understand them not being willing to lend him any more.

 

[Tampa Blue]

and yet, I've heard very recently the exact opposite from someone reliable.

I heard that it was approved 'in principle' with the o/s issue regarding the valuation of the collateral it was secured against to be agreed

 

[Tampa Blue]

He owes money to all three Directors. I can understand them not being willing to lend him any more.

I believe that Tara Brady was able to recover what he had lent the narcissist but only just before that went to court.

I guess he had little or no affiliation with the Club.

 

[Cricko]

I believe that Tara Brady was able to recover what he had lent the narcissist but only just before that went to court.

I guess he had little or no affiliation with the Club.

Tara loved this club and the fans (who he mixed with frequently) he just wasn't prepared to put up with RM's ways anymore. Yes he eventually got his money back. He is a big cheese at Microsoft these days.

 

[Tampa Blue]

Tara loved this club and the fans (who he mixed with frequently) he just wasn't prepared to put up with RM's ways anymore. Yes he eventually got his money back. He is a big cheese at Microsoft these days.

The rumour I heard that the difference was that it was a personal loan directly to RM and not one of his myriad of companies.

If the narcissist defaulted on that then it would have been a personal bankruptcy.

 

[Blue Yonder]

I guess if we’re saving 1-1.5k per day interest for several weeks and draw it at the last minute it saves a boat load of money a proportion of which divied up on top of back wages is something of a sweetener/compensation. Not sure why you couldn’t explain this more openly so not sure it is the case.

EDIT... also when it would take a couple of weeks just to save enough to pay St Johns ambulance and given the overall size of the project hardly seems worth it so I don't see this theory (delaying draw down of an already approved loan) unless there is some onerous set up fee he wants to avoid at altogether and another long term source of money is close.

 

[Blue43]

Heard earlier on the radio a staff member at the club is seeking possible legal action over the non payment of wages, so guessing some staff members have finally had enough!

 

[Callum]

Heard earlier on the radio a staff member at the club is seeking possible legal action over the non payment of wages, so guessing some staff members have finally had enough!

We might not not have a team left

 

[kentblues]

Yeah, it is strange. I had heard (not sure how true) that it had been agreed on the side of the lender but that Martin was waiting to sign-off on it as he had other irons in the fire (external investment for a slice of the pie, etc.), but I was under the impression that these were recent developments. If the loan had been agreed on the side of the lender as far back as November then that opens up a whole other can of worms and poses another list of questions that will probably never be answered truthfully and transparently.

A land deal was held up due to planning refusal- resubmitted/appealed but he is looking to sell to developer at a discount now (or was). Also talk of an "investor"....personally given nonpayment of wages, St. Johns et al I think the other irons scenario is now more likely with the loan as a back stop. Generating all this pain just to avoid a months interest is I think unlikely..

 

[Jai]

A land deal was held up due to planning refusal- resubmitted/appealed but he is looking to sell to developer at a discount now (or was). Also talk of an "investor"....personally given nonpayment of wages, St. Johns et al I think the other irons scenario is now more likely with the loan as a back stop. Generating all this pain just to avoid a months interest is I think unlikely..

True, although don't forget it's not pain for Ron Martin. He is a sociopath, he doesn't give a monkeys about anyone else.

 

[CC51DAS]

A land deal was held up due to planning refusal- resubmitted/appealed but he is looking to sell to developer at a discount now (or was). Also talk of an "investor"....personally given nonpayment of wages, St. Johns et al I think the other irons scenario is now more likely with the loan as a back stop. Generating all this pain just to avoid a months interest is I think unlikely..

Yep, sounds the most rational explanation. Do you know the exact location of the land by any chance ?

 

[in the know]

If hes schizophrenic too, at least we'd have a 50% chance there might be money coming soon.

 

[pottster]

Heard earlier on the radio a staff member at the club is seeking possible legal action over the non payment of wages, so guessing some staff members have finally had enough!

It's only a matter of time, I'm surprised it taken this long. Its certainly a case of unfair dismissal, and the courts take a dim view of these things.

 

[kentblues]

Yep, sounds the most rational explanation. Do you know the exact location of the land by any chance ?

No..