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SUFC: The Future SUFC up for sale

Our hopes and visions for the rebirth of Southend United, plus any plans published by the consortium for discussion
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tommy tucker said:
Nope But when He went to court to ask for a large sum To pay off the debts so the club can play in the national league this season. Also he told the judge that the clubs problems are coming to an end .
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Thats not quite what happened or what was said.

He asked for authority to pay £300k to football creditors. The court it’s seems to have said yep you can pay it. We know £52k is said came from the PL but no idea where the rest will be coming from.

As to saying the club’s problem are coming to an end. I fully understand why that’s how people are assuming what he meant but read again what he actually said “ I’m sorry I keep coming before you, but it is coming to an end.”

I still am confused why there was need to have this hearing based on the fact that in early June all the bank accounts were unfrozen by order of the court but it’s the fact that it was openly said that the club is insolvent for me further confuses matters
 
West Stand said:
Thats not quite what happened or what was said.

He asked for authority to pay £300k to football creditors. The court it’s seems to have said yep you can pay it. We know £52k is said came from the PL but no idea where the rest will be coming from.

As to saying the club’s problem are coming to an end. I fully understand why that’s how people are assuming what he meant but read again what he actually said “ I’m sorry I keep coming before you, but it is coming to an end.”

I still am confused why there was need to have this hearing based on the fact that in early June all the bank accounts were unfrozen by order of the court but it’s the fact that it was openly said that the club is insolvent for me further confuses matters
Click to expand...
Under a WUP there is a strict order for paying creditors. HMRC would take precedence over the football creditors and so in order to pay off the football creditors to satisfy NL when he couldn't cover them and HMRC he needed a court judgement to do so.
 
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