SUFC: The Future SUFC up for sale

[kentblues]

A company can’t be sold if it’s in liquidation.

They would have to get the winding up order rescinded by satisfying the creditors at which point a sale could proceed (as it would be as if the winding up order never happened).

 

[dusterman]

If we limp on under one of Martin’s cronies finances and he drags us down further into the mire then the protests will ramp up surely?

 

[Sudbury_Shrimpers]

It’s possible but the water company turning the water off suggests there isn’t currently any money.

There is an offer on the table from Kimura and still waiting, so what is his problem.

I am sure RM will have Hell unleashed from all directions by angry fans tomorrow afternoon.

 

[West Stand]

Think I am right in saying the OR has powers under the Company Directors Disqualification Act 1986 to disqualify a director for a period of time from holding office with any company. Moreover, I believe the OR/Government has powers in some extreme cases not only to disqualify directors but custodial sentences can be imposed down the line to the worst offenders where malfeasance has been demonstrated.

Save a members voluntary liquidation in insolvency/liquidation the conduct of directors and in some circumstances responsible employees can and often is investigated.

You are right that directors can be held to account and sanctioned accordingly. I haven’t heard of any directors being given custodial sentences for financial matters ( I have for health and safety failures) the norm is disqualification and whilst that can clip ex directors wings I have come across instances where those individuals continue to snub their noses at authority and continue to carry on trading as a director just not named as one.

 

[The Original Tribal Chief]

If we limp on under one of Martin’s cronies finances and he drags us down further into the mire then the protests will ramp up surely?

Who knows? Quite a few posters think protesting is beneath them.

 

[Mr. Benedict]

Then they can finance the entire gig out of their own pocket. A full and comprehensive boycott should be the only way if this happens.

If it ends up as, effectively, more Ron via some of his mates then I predict we will end up in a similar situation to now in the medium term.

I for one won't step foot inside Roots Hall again until he and his shady mates are gone from our club for good.

 

[Boreham Shrimper]

If we limp on under one of Martin’s cronies finances and he drags us down further into the mire then the protests will ramp up surely?

I for one won’t be attending Roots Hall as long as Ron or any of his affiliated entities is anything to do with the club and I imagine many will do the same.

 

[fbm]

It's cutting your nose off to spite your face and it's exactly the sort of behaviour we would expect from Ron himself.

Yes, I know what it is and whilst we might expect Ron to do it, I can't see why anyone on here would want to do it.

 

[Linda Loan Shark]

Looks like we are kicking the can down the steeet again if Ron is just going to get an investment from his mate.

I felt a glimmer of hope with Kimura and now its looking increasingly unlikely they will be buying our club it feels like we are back to square one

 

[Liam AAS]

I for one won’t be attending Roots Hall as long as Ron or any of his affiliated entities is anything to do with the club and I imagine many will do the same.

I think this is bang on. Many people won't protest, but they won't attend now until he's gone.

 

[dusterman]

Who knows? Quite a few posters think protesting is beneath them.

It will be the straw that breaks the camel’s back IMO. The fact he’s played us for mugs for the millionth time and completely played a legitimate buyer who has the connections to give us hope. All my opinion, but you can sense the growing discontent and if I’m considering it in this scenario, and leaving my family at home, while I traipse my sorry *** to Essex Way then I believe hundreds more will too.

 

[loz]

Save a members voluntary liquidation in insolvency/liquidation the conduct of directors and in some circumstances responsible employees can and often is investigated.

You are right that directors can be held to account and sanctioned accordingly. I haven’t heard of any directors being given custodial sentences for financial matters ( I have for health and safety failures) the norm is disqualification and whilst that can clip ex directors wings I have come across instances where those individuals continue to snub their noses at authority and continue to carry on trading as a director just not named as one.

Insolvency service have got some recent custodial sentences for fraud as well but you're right that disqualification the norm. Ron's given up a few of his directorships hasn't he..

 

[kentblues]

No. They are very sensible people.

Hopefully sensible and very very well funded, and not needing to do a DD process as we are timed out. Unless they have secretly done a DD process without a single club source finding out and tipping off one of the ITKs.

Of course this option would be better than more Ron or out of business. But it’s hard to evaluate a buyer when no-one knows who they are, and therefore how real they are and what their plans would be. And in the circumstances you can understand whilst it difficult to rely on them as a plan B

 

[class]

All my opinion, but you can sense the growing discontent and if I’m considering it in this scenario, and leaving my family at home, while I traipse my sorry *** to Essex Way then I believe hundreds more will too.

Yep, I'm in the same boat myself!!

 

[The Original Tribal Chief]

No. They are very sensible people.

Maybe. But they are not particularly rich people. That’s the problem.

 

[Target man]

Anyone just refreshing shrimpzone and Twitter tonight?

It's like watching deadline day hoping for news when you know nothing is happening.

 

[Liam AAS]

Maybe. But they are not particularly rich people. That’s the problem.

They literally loan cash to businesses.

 

[Beefy]

We did it for Bloomfield Road in 2014 (five years before the Oyston's were eventually ousted). We still maintain it to this day.

Edit to add - there should be guidance about the procedure to follow and the paperwork you need to complete on the local council website.

This is very interesting

 

[The Original Tribal Chief]

They literally loan cash to businesses.

I’ve loaned money to people. Doesn’t make me rich.

Out of interest, who are you talking about? If it’s Kimura, then you’re right, but I don’t think you’re talking about them, right?

 

[Bluegoose]

I don't know Ron, but as someone who owned a company or two over the years. His aim now is to maximize his return from a sale. Let's face it the club been a money pit for as long as I can remember which is 50 odd years. Can anyone estimate what he's paid into the club over the last 25 years for context.