SUFC: The Future SUFC up for sale

[Silver]

I wonder if he will be representing himslf again on the 23rd or has he paid his legal team?
I think he will also need to be very aware that he has a wage bill coming up at the end of this month as well and, I suspect, the NL will be keeping a close eye on that potential stumbling block for us getting the embargo lifted.

 

[kevst183]

payment plan by now.. Both of which i don't think have been done as both would involve a substantial payment.

I believe the water companies are in the process of going to court against us unless we pay but that of course takes time, which atm keeps the water at RH on, well that and the van parked over the shut off valve.

 

[CornishShrimper]

I've never for a moment thought that RM doesn't have the money to pay if he could, he's just leaving it until he has no other choice but to do so, which it appears we have now reached. He needs the asset of Southend United FC to be viable, not because it itself holds any value but because his entire plan revolves around it and that's where the value is for him.

All the doom-mongers here seem to fail to understand that he will not let the club die. Not for any love of it but because to him it IS, in fact, worth a lot of money.

 

[Barry.C]

From what Boy Wonder has clearly laid out Football Creditors solely relate to Football, including staff etc. So i assume that does not include Water Authorities, Solicitors or anyone else not directly related to the Football Club side of things

Im still a bit confused about those parties that adjoined the WUP, which info suggested included PG Site Services and ? Solicitors and ? NP Power

Again info here if
accurate suggested the latter parties, one of which Tom is a NED, had withdrawn? So whilst a lot of supposition ,it seems these debts are no longer pressing. PG must have got most of their large loan paid back somehow ,and I think it was said NP Power were signed up tor a repayment plan

Would this mean we " just" need to pay the £250k plus subsequent add ons to clear the football creditor debt and if done, enable the embargo to be lifted

However iI assume it is possible we have other debts still to pay?

Have I got this right?

 

[Billy Bests boot laces]

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.

I guess no one has a clue, what the total amount is apart from 'the roach'?.

 

[Holy Joe]

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.

NL I agree with, they seem to have clearly set their stall out.

Court - liquidation is obviously a scenario - but I'm not sure it would be favourite in the event of non payment

 

[Holy Joe]

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

Not sure the league stance would be a consideration for the court. They're not owed money.

HMRC have objected to every adjournment for some time haven't they?

 

[Shrimper]

An adjournement means a point deduction. I don't see them giving one though, they've been fobbed off twice and if they see little progress they won't be happy

 

[flangejackrabbit]

Tom is a NED

bit harsh?

 

[borientater]

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

And what difference will this make ?

 

[annie1954]

An adjournement means a point deduction. I don't see them giving one though, they've been fobbed off twice and if they see little progress they won't be happy

I don’t think after last time when people had special meetings with the national league to help the club this is it ,no more second chance ron knows this pay up in full or the 10 points deduction comes in

 

[TJC]

I've never for a moment thought that RM doesn't have the money to pay if he could, he's just leaving it until he has no other choice but to do so, which it appears we have now reached. He needs the asset of Southend United FC to be viable, not because it itself holds any value but because his entire plan revolves around it and that's where the value is for him.

All the doom-mongers here seem to fail to understand that he will not let the club die. Not for any love of it but because to him it IS, in fact, worth a lot of money.

I do agree he needs to keep the club alive/(barely) viable, but not being privy to any info, the question has to be does he have the resources/funds to do so? If he does have the funds, why would he defer until the last minute racking up additional court costs and interest?
Perhaps his capital is tied up in investments that yield better returns than the interest applied by HMRC? Only then would it make sense to me.

 

[Jai]

I do agree he needs to keep the club alive/(barely) viable, but not being privy to any info, the question has to be does he have the resources/funds to do so? If he does have the funds, why would he defer until the last minute racking up additional court costs and interest?
Perhaps his capital is tied up in investments that yield better returns than the interest applied by HMRC? Only then would it make sense to me.

Simple. He's trying to get someone else to pay it so he doesn't have to.

Hence protracted sale negotiations. He's trying to hospital pass as much of his debt as possible to someone else, and unsurprisingly any buyer is not particularly willing to entertain this.

 

[TJC]

Simple. He's trying to get someone else to pay it so he doesn't have to.

Hence protracted sale negotiations. He's trying to hospital pass as much of his debt as possible to someone else, and unsurprisingly any buyer is not particularly willing to entertain this.

Wonder when the penny will drop with him? Sell a club with bigger debts = lower offer price. In addition, damaging the clubs league status and ****ing staff and player so they want to leave also must drive down the price anyone is willing to pay.
Surely its in his interest to have a fully functional club with a real chance of progression that trying to palm off a crippled club.

 

[fbm]

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

I'll bet they do for us...

 

[ColinMorrisWalksOnWater]

Wonder when the penny will drop with him? Sell a club with bigger debts = lower offer price. In addition, damaging the clubs league status and ****ing staff and player so they want to leave also must drive down the price anyone is willing to pay.
Surely its in his interest to have a fully functional club with a real chance of progression that trying to palm off a crippled club.

All perfectly logical. That's the first mistake when dealing with the rat, he doesn't do logic, it's all to do with his ego!

 

[TJC]

All perfectly logical. That's the first mistake when dealing with the rat, he doesn't do logic, it's all to do with his ego!

I guess that makes sense. He does seem to like a fight. Like when he challanged the players to take him to court. He lost (Kacsper) but enjoyed the moment of power and challange perhaps?
Can only image what hes like at pay parking and speeding fines. Sees it as a david and goliath affair

 

[Suffolk Blue]

Wonder when the penny will drop with him? Sell a club with bigger debts = lower offer price. In addition, damaging the clubs league status and ****ing staff and player so they want to leave also must drive down the price anyone is willing to pay.
Surely its in his interest to have a fully functional club with a real chance of progression that trying to palm off a crippled club.

I'm not in the camp that believes Ron doesn't know what he's doing with all of this.

I guess we'll find out how bright/stupid he is when this saga comes to an end (one way or another).

 

[Shrimper]

Wonder when the penny will drop with him? Sell a club with bigger debts = lower offer price. In addition, damaging the clubs league status and ****ing staff and player so they want to leave also must drive down the price anyone is willing to pay.
Surely its in his interest to have a fully functional club with a real chance of progression that trying to palm off a crippled club.

The penny will drop when it's too late

 

[annie1954]

I'm not in the camp that believes Ron doesn't know what he's doing with all of this.

I guess we'll find out how bright/stupid he is when this saga comes to an end (one way or another).

That man knows what he’s doing I’m sure making money is his life ron martin does things the Ron martin way doesn’t bother him what others think he got his future well planned