Stewart’s Law to ask court to dismiss WUP proceedings - settlement reached with SUFC

[Spaceman Spiff]

 

[Streaky]

Really Really good news!!!!!!!

Now get that embargo removed you f*ckwits of a league

 

[Supershrimper]

Should read COSU rather than Southend. Sounds like Ron has agreed to pay something as current owner.

These COSU guys are going to have goodwill for years once the takeover goes through.

 

[Avl1983]

How does that work with PG Site Services as they had joined the petition as well?

 

[Danshrimper]

Assuming we still need to either pay or reach a similar agreement with PG Site Services for the WUP to be dismissed. Has it been said how much we owe them?

 

[Napster]

Is PG the only other one in the party or have others joined since?

 

[Big_Nath]

How does that work with PG Site Services as they had joined the petition as well?

Get Ron to promise them an exclusive contract for his new housing development.. oh wait a minute

 

[Leeboy]

someone showing some sense and a bit of decency at last

 

[SeldomSeenShrimper]

Still under embargo because of the Bond, right?

 

[Jay_SUFC]

Still under embargo because of the Bond, right?

If the WUP is dismissed then how can the National League demand a Bond as what would the reason for it be?

 

[SeldomSeenShrimper]

If the WUP is dismissed then how can the National League demand a Bond as what would the reason for it be?

That's a good question to ask

 

[Jay_SUFC]

Actually just read the NL statement again and it mentions proof of funds for the forth coming season - does that mean they've asked every club for this!!!

 

[C'mon you Shrimpers]

I don't mind admitting I'm getting emotional. JR et al I salute you

 

[Blue Streak]

If the WUP is dismissed then how can the National League demand a Bond as what would the reason for it be?

That the vice chairman despises us and always has ?

 

[tommy tucker]

Tom as a member of the 10 Can you please get PG site services to drop there case for the WUO Then maybe the embargo can be lifted And kevin can get on with the season .

 

[Wickford Blue]

Actually just read the NL statement again and it mentions proof of funds for the forth coming season - does that mean they've asked every club for this!!!

That is a point I made earlier about this would not stand up if challenged I reckon! If they ask us they must ask everyone for a £1,000,000 Bond!

 

[Avl1983]

If the WUP is dismissed then how can the National League demand a Bond as what would the reason for it be?

The bond is to satisfy the National League we can make it through the season, totally separate from the embargo/WUP. The bond will not be needed if the club is sold to COSU, if the club remains in Rons hands we need to pay the £1 million bond.

The WUP sounds as though Stewarts are happy but we haven't yet cleared PG Site Services, if we can settle with them then we just need the WUP officially to be dismissed and then the embargo should be lifted I would imagine. but the bond is separate.

 

[southendkid]

Actually just read the NL statement again and it mentions proof of funds for the forth coming season - does that mean they've asked every club for this!!!

They haven't, but they'll point to the fact they did a very similar thing to Wrexham in 2011. That bond was only £250k (just under £400k when you account for inflation) but I'm not sure if our balance sheet is worse than Wrexham's was:

Wrexham FC asked to provide £250k guarantee to Football Conference

Wrexham FC have been asked by the Football Conference to provide a £250,000 bond or bank guarantee by Monday, as well as proof that all players and staff have been paid.

www.dailypost.co.uk

 

[Mr. Benedict]

Still under embargo because of the Bond, right?

I think the two issues are separate so the WUP being removed should release the embargo. But the NL make things up as they go along so I wouldn't be surprised if they kept our feet to the fire for a little longer.

 

[Tommy2holes]

They haven't, but they'll point to the fact they did a very similar thing to Wrexham in 2011. That bond was only £250k (just under £400k when you account for inflation) but I'm not sure if our balance sheet is worse than Wrexham's was:

Wrexham FC asked to provide £250k guarantee to Football Conference

Wrexham FC have been asked by the Football Conference to provide a £250,000 bond or bank guarantee by Monday, as well as proof that all players and staff have been paid.

www.dailypost.co.uk

So inflation is 300%