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When will the takeover go through? The Waiting Game...

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Liam AAS said:
That's so strange. He has never mentioned it. He hasn't mentioned the esimated value of the charges, he hasn't mentioned the additional charges from CBRE on Thames Plaza ltd and other entities owned by Jack Martin and he certainly hasn't drafted a letter to go to Tim Perkin, CBRE's head of loan recovery.

I wonder if that is enough sarcasm now
Click to expand...
Apologies. It was late and I didn't read your post as sarcasm. That's on me.

Still good to know the appropriate response from a trust representative was sarcasm in this instance.
 
There seems some confusion about what was expected by the end of this week. It wasn’t just items 1 and 2. Significant positive results re 1 and 2 may allow a little leeway on 3 but what was said is below:

For COSU to continue funding the Club and complete the takeover, including reaching payment agreements with the creditors on the winding up petition, we have communicated to the Council and the Martins that we require the following three things:

1. A revised set of terms for the property contract that all parties are committed to closing.

2. An updated scope and realistic timeline for the remaining council due diligence work.

3. An agreement with the Martins to provide security for the further funds COSU will need to inject prior to the takeover.

We see no reason why these criteria cannot be met next week if all parties act reasonably and with focus.

If we reach an agreement, COSU will work with creditors and the league to lift the embargo and release season tickets.

While the situation is outside of our control, COSU wants to assure Southend fans that we are doing as much as possible to prepare for the new season in parallel so that if the deal does complete, we will hit the ground running.
 
SunSea&Shrimpers said:
6pm is my guess when the statement from SCC comes out. That way IF it is positive we can all have a nice relaxing weekend and start looking forward to going to that first game of the season. May I just add with the squad we have atm we’re HMS p**s the league anyway. Danny Waldron will be banging in goals for us 25+ imo.
Click to expand...
I wouldn't be surprised if we don't hear anything until Monday
 
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