SUFC: The Future SUFC up for sale

[Yorkshire Blue]

What I mean is there is currently a water tank in the car park supplying water to the portable toilets.

The plan was to instal portaloos and a mobile kitchenette (see Anna Firth story https://www.echo-news.co.uk/sport/23707223.southend-united-bought-fans-suggests-mp-anna-firth/) don’t think they’d be connected to mains water.

 

[Paddypel]

Got this from an old mate yesterday who used to be on SZ:FWIW I make him right.:-

"Best case scenario we will lose 10 points next week - worst case we won't be around. Can't see that doing much for the morale of the players"

I mean, there isn't any actual evidence other than rumour to suggest either of these scenarios won't happen.

 

[Tangled up in Blue]

Inside info or just doom-mongering?

Certainly not inside info (thought this guy watches our games from the DB) and normally sees all our matches home & away.Think he's just as ****ed off as most of us are with all the off the pitch goings on.

 

[BoyWonder2]

I mean, there isn't any actual evidence other than rumour to suggest either of these scenarios won't happen.

There isn’t any actual evidence, other than rumour, to suggest either of those scenarios will happen.

 

[borientater]

There isn’t any actual evidence, other than rumour, to suggest either of those scenarios will happen.

Is there any that suggests they won’t ?

 

[danbowen]

@Smiffy @Medway Blue i know you cant give us too many details of what you know but can you say if you are still confident the Eastleigh game could still/is likely to be a party atmosphere?

 

[Paddypel]

There isn’t any actual evidence, other than rumour, to suggest either of those scenarios will happen.

No but either will happen by default if a takeover doesn't go through or RM finds some offshore funds.

 

[Suffolk Blue]

I'll repeat what I posted before.

There's no way he settles the debts that he has done so far, only to let the club be wound up because he can't pay the HMRC.

That's not to say that his actions might mean we get a 10 point penalty, but as that would diminish the value of the club, I don't think he'll let that happen either.

 

[flangejackrabbit]

which atm keeps the water at RH on, well that and the van parked over the shut off valve.

By any chance did someone hear of the water co turning up at B&L, then rush down RH to optimise the parking before they could get there?

 

[TJC]

Just trying to keep up here.
So next week, we have to settle WUP in full plus any since accumulated HMRC/football related debts to:

A) Avoid bing wound up
B) Avoid a 10 point deduction
C) A & B being enough to finally lift the embargo (not we will have funds to sign anyone)

The next option is to avoid being wound up by just paying WUP debts which will result in:

A) Not being wound up
B) Deducted 10 points
C) Embargo firmly still in place
D) Reduce value/attaction for anyone interested in buying/investing

Final option of not paying any of it or at least not the ful WUP resulting in one of:

A) Wound up (guess no chance of adjournment, although have been surprised the last 2 times)
B) Going into administration (has to happen before court date?)
C) Phoenix club




Have I got that right?

 

[West Stand]

Its also a requirement of the league for clubs to notify them if they miss HMRC payments - so if clubs are 'honest' the league shouldn't have to rely on HMRC notifications

It's not just HMRC though... it's ALL football related debt. There's evidence that old debts (water etc) have or are being paid, which is good. I think the main issue now is the wages of the players and staff. They have to be paid on time.
Going forward, HMRC tend to use WUP's as reminder notices, so if the NL are going to use the issue of the petition as the trigger for a points deduction, we are going to have to be very careful.

The clubs have to report any arrears to HMRC that aren’t included in a TTP arrangement in tandem HMRC and the league authorities re delinquent clubs.

Of course it is possible that a club doesn’t keep the league in the loop but should the club not be open and honest with their submissions then the consequences would be severe.

HMRC don’t use a WUO as a reminder the likelihood is that they will have validated debt if needed by way of quantifying the debt under the relevant taxes regulation which in itself contains final reminders in respect of PAYE/NIC and VAT through either inspection or the issuing of what I think was called DN1P

You then would have Statutory Demands but continued failure to pay would probably lead to a WUO and as we know that reeeks all sort of havoc

 

[West Stand]

Just trying to keep up here.
So next week, we have to settle WUP in full plus any since accumulated HMRC/football related debts to:

A) Avoid bing wound up
B) Avoid a 10 point deduction
C) A & B being enough to finally lift the embargo (not we will have funds to sign anyone)

The next option is to avoid being wound up by just paying WUP debts which will result in:

A) Not being wound up
B) Deducted 10 points
C) Embargo firmly still in place
D) Reduce value/attaction for anyone interested in buying/investing

Final option of not paying any of it or at least not the ful WUP resulting in one of:

A) Wound up (guess no chance of adjournment, although have been surprised the last 2 times)
B) Going into administration (has to happen before court date?)
C) Phoenix club




Have I got that right?

It’s near enough correct.

What we know is that to avoid a 10 point deduction all football creditors and the HMRC debt, both included in the WUO and any that has accumulated since the WUO was issued has to be paid in full by 23/8. If that happens it’s probable the embargo will be lifted but ther3 is still the little matter of outstanding accounts which in itself has led to embargos elsewhere

It is possible that if the WUO isn’t cleared that it could be adjourned further but will entail -10points

Administarion is a possibility just as a CVA is but if an Insolvency event isn’t entered into voluntarily and the debt under the WUO isn’t paid then I doubt any extension would be granted which inevitably would see a Credititos Liquidation follow

 

[Holy Joe]

Administarion is a possibility just as a CVA is but if an Insolvency event isn’t entered into voluntarily and the debt under the WUO isn’t paid then I doubt any extension would be granted which inevitably would see a Credititos Liquidation follow

Why do you doubt another adjournment is possible? I'm no expert but based on our, and other clubs histories, I'd suggest another adjournment more than possible - as long as Ron can still demonstrate a sale is likely (doesn't have to be with same party as any evidence previously provided -just that a buyer is currently in negotiations)

 

[WestyReturns]

I'll repeat what I posted before.

There's no way he settles the debts that he has done so far, only to let the club be wound up because he can't pay the HMRC.

That's not to say that his actions might mean we get a 10 point penalty, but as that would diminish the value of the club, I don't think he'll let that happen either.

You'd think he'd want to pay it off sooner. HMRC charge interest on monies owed without the thought of penalties on late payments added.

 

[West Stand]

Why do you doubt another adjournment is possible? I'm no expert but based on our, and other clubs histories, I'd suggest another adjournment more than possible - as long as Ron can still demonstrate a sale is likely (doesn't have to be with same party as any evidence previously provided -just that a buyer is currently in negotiations)

Simply because the league have themselves said enough is enough but also , and probably more important, is that HMRC let it be known quite clearly that promises after promise have been made and they constantly turn out to be no more than broken promises . I can’t remember the exact words but at the last hearing they said the papers that RM produced by way of evidence weren’t worth the paper they were written on( or words to that effect)

At some point the courts were always going to say no more and without proof of funds as opposed to fingers crossed I just can’t see the courts not enforcing

 

[Cricko]

There IMO will not be any excuse the courts will allow this time around, let alone the NL.

Monies have to be paid or else we are ****ed. There is no other scenario about this.

 

[Rob1920]

It never ceases to amaze me how we’ve never had a points deduction (so far..). We must be the worst run club in the top 5 divisions and have been for probably the last 5 years. Players & staff continually not paid on time, creditors queuing up at the door, embargo after embargo, court hearing after court hearing mainly with HMRC, I mean what does a club have to do to get docked points! I reckon Ron must have some dirt on some high up people..

 

[wakes123]

Why do you doubt another adjournment is possible? I'm no expert but based on our, and other clubs histories, I'd suggest another adjournment more than possible - as long as Ron can still demonstrate a sale is likely (doesn't have to be with same party as any evidence previously provided -just that a buyer is currently in negotiations)

I don't think so. Ron has lied to them before, I don't think they will allow it again. If they do adjourn it, they are mugs tbh.

 

[Leeboy]

I don't think so. Ron has lied to them before, I don't think they will allow it again. If they do adjourn it, they are mugs tbh.

even if it does get adjourned, we still have to pay on the 23rd regardless to avoid the 10 point deduction.

 

[Mr Browns Ghost]

Who’s going to the hearing next week ? Let’s get even more than last time