SUFC: The Future SUFC up for sale

[Murkey_Mouse]

If the new owners had their way it would have been done sooner but with Ron in the drivers sear things are already taking longer than hoped!

Ron not in driving seat anymore, after we almost had players walking out & the club getting thrown out of National League set up on Friday.

 

[fbm]

There's nothing happening today, is there? I thought the NL deadline had been extended.

 

[Fred]

‘10.30 or as soon as thereafter’

 

[Fred]

In front of Judge Prentis, The Rolls Building, Room 9.

 

[dusterman]

In front of Judge Prentis, The Rolls Building, Room 9.

I don’t understand what this court stuff is about. I get the validation order last week but who is trying to wind us up or throw is out, is it the National League who are pushing this or someone else? I thought HMRC deft was adjourned.

If someone can clarify if they can, be much appreciated.

 

[Smiffy]

 

[Ron Manager]

Yeah, what’s the deal with this? Have I missed something? Quite possible that I have, this thread is near impossible to keep up to date with.

 

[tommy tucker]

Ok why are we back in court is it july already have i missed the full month of june

 

[Blues ‘n’ twos]

I doubt the National League will want/push for our expulsion, our away support has probably kept some of their clubs solvent

 

[C'mon you Shrimpers]

The judge wants to see the National League letter saying it has changed the June deadline. Our barrister is also going to provide confidential information on the sale process and detail on how money from a sale would be handled. Hopefully all this is in hand or we are ****ed as the judge seems to believe that we are insolvent.

 

[Snowy]

Never know, this maybe the first step to confirm new ownership, pay the debt and have the Embargo removed.

Here's hoping.

 

[SS9_Shrimper]

Yeah, what’s the deal with this? Have I missed something? Quite possible that I have, this thread is near impossible to keep up to date with.

Court hearing to unfreeze bank accounts last week, as National league were pushing for all creditors to be paid to keep league status.

Prior to this the National League must have agreed an extended deadline for us to get up to date, but court date still stood. I believe the judge on Wednesday, despite the promise of a letter from the National League, insisted that we at a minimum must have wages paid and accounts published by end of play Wednesday.

Court date today should just be to present the letter to the judge as evidence of later deadline to pay all creditors.

 

[Ron Manager]

Court hearing to unfreeze bank accounts last week, as National league were pushing for all creditors to be paid to keep league status.

Prior to this the National League must have agreed an extended deadline for us to get up to date, but court date still stood. I believe the judge on Friday, despite the promise of a letter from the National League, insisted that we at a minimum must have wages paid and accounts published by end of play Friday.

Court date today should just be to present the letter to the judge as evidence of later deadline to pay all creditors.

Thanks a lot.

This is all a bit stressful isn’t it?

 

[CanveyCastle]

Never know, this maybe the first step to confirm new ownership, pay the debt and have the Embargo removed.

Here's hoping.

That's a bloody big hope.

 

[Smiffy]

Will be interesting to see how long we are granted by the judge to clear "football creditors" arrears. Suspect it will be in-line with the WUP (12th July)?

Can't imagine the NL will be willing to wait much longer than that to see if we have the ability to start and finish the season. They are I believe under increasing pressure from clubs & individuals to throw the book at us. Although I believe we have officially until July 22nd to prove our case to the NL.

As long as the takeover is complete and arrears settled prior to the next hearing, there is no cause for alarm. With Ron exiting, I have complete faith in the new guys to deliver and then some.

 

[tommy tucker]

So its the National leauge who are doing this If this goes ahead then i guess the take over wont happen Just hope i am wrong on this .The club needs the take over to go ahead to survive .

 

[mattytheshrimper]

The legal stuff goes well over my head but I can't help but think if we get as far as actually starting in the next season, we'll be starting with a points deduction. Is that likely?

 

[Yorkshire Blue]

Lawyers in big firms are expected to work weekends and even pull all-nighters for no extra pay. However, I doubt very much this deal is big enough to warrant that. I would be surprised if they've done anything over the weekend.

Anyone know what law firms are acting for seller and purchaser?

PMs open if you don’t want it made public.

There's nothing happening today, is there? I thought the NL deadline had been extended.

I believe it was expected to be extended and the hearing sounded like being just checking it had been done (presumably on the basis that if he hadn’t we’d go bust?) but the reporting on it seems very vague.

 

[Yorkshire Blue]

Thanks a lot.

This is all a bit stressful isn’t it?

No, this is procedural. If we get taken over by mid-July we’ll be fine (assuming new owners good for the money) and people seem to think we’ll be taken over this week.

Personally I don’t expect it to be that soon but I do expect it to be before mid-July.

 

[Ron Manager]

No, this is procedural. If we get taken over by mid-July we’ll be fine (assuming new owners good for the money) and people seem to think we’ll be taken over this week.

Personally I don’t expect it to be that soon but I do expect it to be before mid-July.

I get that. But it’s still stressful to a point because we don’t KNOW things with complete certainty.

And I get why that’s the case, but it’s still a worry until we get the outcome confirmed.