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Sale of Southend United to Justin Rees and his consortium

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Avl1983 said:
As bad as it looks I agree, I can't see us being wound up, Ron will somehow pay it if there's no sale. Another 10 points off I suppose but that's probably why he's appealing it, if he was to win then he can continue to kick the can down the road as long as he wants.
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As I posted after the latest adjournment there are two issues that are running parallel

1) As we all know there is the WUO which my guess needs to be settled in full . It’s not just about HMRCs £220k it also now has at least another £600k linked to it . Yes linked debts could be withdrawn but Emersons I guess won’t believe anything save money in the bank.

Before I get to 2) I have been away for a few days does anyone have any update re the August wages ?

2) You the have the debts that the NL mentioned and that is HMRC debts out of court alongside any football creditors

I can’t think how RM thinks , none of us can, but at this point in time with him having secured his debts I can’t see why he would want to pump anymore money in. What would be in for him ?
 
Avl1983 said:
I get what you're saying but it doesn't make any sense to start the season and start paying wages etc if he's just going to let it die! Just my opinion, if you can make sense of it all you're a better man than me!
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I get what you are saying but the Rat is a law unto himself.

I really hope you are right and the club is sold but just can't see it
 
leeblue said:
My source has been spot on throughout.
Also look at the evidence, no deal done.
Trust/firth asking government for special funding, this doesn't exactly smack of successful takeover imminent.
Ron literally doesn't care.
He'd take the winding up.
He was only too happy to take 10 points off.
I'd urge all those boycotting to get to the hall this month. Say goodbye.
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I can't believe he 'literally doesn't care'. If he takes us into liquidation, he would get driven out of town and forever be known as the chairman who took us under. I think that would hurt him on his narcissistic, 'I'm the saviour of the club' level. On one of the zoom calls he said 'Save our Southend? I thought that's what I've been doing for the past 20 years'.

For this reason, I think he will concede on his terms at the last minute to get the deal done.

I may well be wrong and you may be right, but my gut feeling is we survive this.
 
davewebbsbrain said:
I get what you are saying but the Rat is a law unto himself.

I really hope you are right and the club is sold but just can't see it
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As I say I completely get your viewpoint it just makes no logical sense to let it die, yet he played a massive gamble last time and somehow we got away with it.

I think he assumed making a small (£80k) payment on the day would show he was making progress but the court rightfully wasn't impressed so hopefully this time with the warning we would be wound up he'll put his hand into his pocket in the virgin islands and clear the debt.
 
Avl1983 said:
As I say I completely get your viewpoint it just makes no logical sense to let it die, yet he played a massive gamble last time and somehow we got away with it.

I think he assumed making a small (£80k) payment on the day would show he was making progress but the court rightfully wasn't impressed so hopefully this time with the warning we would be wound up he'll put his hand into his pocket in the virgin islands and clear the debt.
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I don’t think he paid 80k

The NL gave it directly to them rather than the club
 
Ah I didn't know that, I thought Martin had stated in court he'd paid that amount. The man is unbelievable.
 
Avl1983 said:
I get what you're saying but it doesn't make any sense to start the season and start paying wages etc if he's just going to let it die! Just my opinion, if you can make sense of it all you're a better man than me!
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even ron knows to sell a football team/club it has to actually be operating.
 
Have the Trust held talks with Emersons and PG Site Services?

They are apparently larger creditors than HMRC but their involvement suggests that they support the club and are understandably fed up with Ron. Might they be interested in a debt for equity swap? Given that one of the biggest impediments in any deal seems to be the debt that will be inherited, getting some of those creditors to join the consortium could be a way to move pass this obstacle.
 
TJC said:
Nice idea but with what? councils are declaring bankrupcy. Not sure they would have the funds to do that without a significant and quick return for that investment.
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Perhaps the council with the help of two local MPS have already put in for a government grant to purchase RH, i dont know if its possible ,just a thought .
 
Now wouldn't it be nice for the trust And Firth get government help to save our club And get the rat Martin struck off from owning any football club That would include Fossetts Farm
 
leeblue said:
My source has been spot on throughout.
Also look at the evidence, no deal done.
Trust/firth asking government for special funding, this doesn't exactly smack of successful takeover imminent.
Ron literally doesn't care.
He'd take the winding up.
He was only too happy to take 10 points off.
I'd urge all those boycotting to get to the hall this month. Say goodbye.
Click to expand...
Didn't you claim the aussie had pulled out just before the last hearing....?
 
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