Stewarts Law LLP/PG Site v SUFC - 26 June 2024 - DISMISSED WITH COSTS

[JD]

Have PG inadvertently given us the timeline?

Love how PG Skips have stolen the potentially thunderous announcement with this statement!

Justin will be furious, and ripping up the payment plan as we speak!

 

[dusterman]

Love how PG Skips have stolen the potentially thunderous announcement with this statement!

He sounds salty as **** so probably.

 

[Holy Joe]

Interesting that they got security as well. Would they have been able to enforce security with the club still in existence - if so shame they didn't go down that route.

 

[BEERMONSTER]

I know they have not enamoured themselves to a lot of Shrimpers, dodgy social media and WUP situations taken into account, but arguably PG not as big a villain as some feel it could be argued!

 

[Shrimp and two veg]

I know they have not enamoured themselves to a lot of Shrimpers, dodgy social media and WUP situations taken into account, but arguably PG not as big a villain as some feel it could be argued!

Apparently they saved the club from extinction !

 

[Shrimper]

Will wait for an official statement but promising

 

[Che's Left Foot]

Have PG inadvertently given us the timeline?

big if true

 

[Westcliff Shrimper]

Interesting that they got security as well. Would they have been able to enforce security with the club still in existence - if so shame they didn't go down that route.

Sounds to me that it was external security over assets not within the tangled web of the SUFC ownership "group".

Maybe buildings and/or land owned by Ratty Junior elsewhere? Very much doubt the Roots Hall site could have anymore charges over it based on previous posts.

 

[tommy tucker]

Ok so the leauge punshid us with yet another embargo .They was dam quick to do that .So now the debt has been cleared .They should remove it just as quick .But i bet they dont .

 

[Evening Echo]

PG Site Services agreed to a financial settlement with the custodians of Southend United today “in the best interest of the club’s future.”

Read more on this story


Help with Echo links

 

[SeaSideDoughnut]

Goodger added: “Unfortunately Ron Martin, through no direct fault of his own, was unable to raise the funding to refinance the club.

He lost me for a second there. I thought this was all a mess of Ron's making.

 

[Somerset Ex-TTB]

Ok so the leauge punshid us with yet another embargo .They was dam quick to do that .So now the debt has been cleared .They should remove it just as quick .But i bet they dont .

Actually they took 5 months to do it, as the WUP was first raised in February

 

[Hooly]

“Unfortunately Ron Martin, through no direct fault of his own, was unable to raise the funding to refinance the club."

WTF!!!

 

[Richard Hearn]

“Unfortunately Ron Martin, through no direct fault of his own, was unable to raise the funding to refinance the club."

WTF!!!

Yes, that's correct. He (the Fuhrer) told me at the time that it was all your fault.

 

[BEERMONSTER]

“Unfortunately Ron Martin, through no direct fault of his own, was unable to raise the funding to refinance the club."

WTF!!!

That's like saying Adolf Hitler failed to invade England in 1939 through no fault of his own!

 

[WestyReturns]

“Unfortunately Ron Martin, through no direct fault of his own, was unable to raise the funding to refinance the club."

WTF!!!

This is beyond comical

 

[Yorkshire Blue]

Ok so the leauge punshid us with yet another embargo .They was dam quick to do that .So now the debt has been cleared .They should remove it just as quick .But i bet they dont .

Not until the Club “provide the League with detailed, objective and independent evidence that the Club has sufficient funds to meet its financial obligations for the forthcoming National League season”

 

[BILLERICAY BLUE]

Not until the Club “provide the League with detailed, objective and independent evidence that the Club has sufficient funds to meet its financial obligations for the forthcoming National League season”

Or the club is transferred into the ownership of COSU, which would then negate the above...

 

[Seaside Shrimper]

Not until the Club “provide the League with detailed, objective and independent evidence that the Club has sufficient funds to meet its financial obligations for the forthcoming National League season”

This is taken from the NL Embargo Regulations

2. In the event of an Embargo being imposed pursuant to any breaches of the FRI regulations then the Embargo will not be lifted until 7 days after full compliance by the Embargoed Club with the FRI regulations in force from time to time

Does this mean it is going to take them a week to lift the embargo?

 

[Yorkshire Blue]

Or the club is transferred into the ownership of COSU, which would then negate the above...

I think as part of the ownership approval process the Consortium basically need to provide this anyway. The condition for the takeover is qualified as being “concluded to the satisfaction of the League and the FA”

This is taken from the NL Embargo Regulations

2. In the event of an Embargo being imposed pursuant to any breaches of the FRI regulations then the Embargo will not be lifted until 7 days after full compliance by the Embargoed Club with the FRI regulations in force from time to time

Does this mean it is going to take them a week to lift the embargo?

What’s FRI regulations in this context?

Such a rule would seem sensible though to limit owners like Ron gaming the system.