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Breaking News When will the takeover go through? Council / Citizen Housing agree new Heads of Terms 26 June

How so? (Sorry if it’s a stupid question)
Not stupid at all mate and maybe just tinfoil hat stuff but I assume that Stewarts law had come to an agreement with the consortium regarding repayment etc, then knowing that nothing had changed hit the club with a WUP, again knowing that ownership had not been resolved and Rat would not pay, coupled with the fact if SUFC does get wound up then they get nowt. All very odd. As posted above, promised more work?
 
I feel your pain @BEERMONSTER . You & I have shared many good times & also some bad days, but that was mainly Homer's driving making us sh*t ourselves. Some dear friends who we travelled the country with have left us far too early in life but we will always remember them through our common love for SUFC.
Although I lapsed in attending after the 2010 issues & the almost destruction of the club back then, better times could be just back around the corner under my favourite Kevin the Crab. 😇 I've seen how Liam has grown up intrinsically attached to the club & what it's meant to him.
There is only one route out of this in my view where COSU will have to pay the bill. No planning will be magically in place & we are further away from DD than we were when the judge last called Last Orders. Ratface won't pay & a guarantee/security from him is worthless so there is only one escape. I've met a few of the consortium & they are good guys with the right intentions but at the moment they are throwing money into a bottomless pit & I believe Ratface would keep that going as long as he can. This recent DD issue just gives him more excuse for can kicking.
My accountant's head says that this is the end & to be fair it's said that before but if I was the judge this time I can't see any other answer than "last one turn the lights out".
Thanks Hooly and I feel the same, it's down to COSU to pay the bill but what will give them assurance in the here and now that the 'bottomless pit' can be filled in? It's beyond me 😪
 
As we approach what potentially could be our darkest hour I feel sick to the stomach and I am filled with a fear and an apprehension that has only been surpassed as I sat by the bedsides of both my parents while they took their last breath. I will be 63 this September and 55 of those years I have been a Shrimper. I grew from boy to man, married, became a father, divorced, remarried, made wonderful friends with other Shrimpers, shared many a mile and a pint travelling the country with them and suffered the heartache of the passing of some far to soon.
Like many Southend United has been the catalyst for so many memories and yes you low life 🐀 I do F'ing love 'my' Club.
I am dreading the worst and praying for what ever positive outcome can be achieved at this late stage. I am desperate to not look into the eyes of my lad Liam and see the devastation that one man's actions will bring down on him. Liam is 30 now, born with quadriplegic cerebral palsy and I can't emphasise how much Southend United has been both a emotional and physical support to his development over the years, from mascot on his 5th birthday, attending Frankie Banks Soccer Schools to East Stand Season ticket holder, the club is moulded into him. I know many many others will share similar emotions and fears at this time so I apologise for this self indulgence outpouring of emotional thoughts but needed a way to let some anger and frustration 🫤 out! Thanks and defiantly I say I'm a Shrimper to I die!
Mate, the day Liam was mascot remains one of my best memories as a Southend United fan. Because supporting a club like ours isn’t filled with trophies and big European nights. It’s about PEOPLE.

And whatever happens that won’t ever die all the time those people are around still drawing breath.
 
I’m not familiar with insolvency procedures but does a party joining a petition have the opportunity to make written submissions?
I believe anyone joining the petition has equal rights.

For the petition to be withdrawn we would need to satisfy all creditors who have joined in the application to the court, not just the original petitioner, as any creditor with £750 or more outstanding can still take the action forward, even if the original petitioner has withdrawn.
 
You guys are really lucky that you have this consortium in the background, everything I have seen from them is exemplary and they have gone a million miles above and beyond any expectations of them.
To not only hang in there after months of trying to close this transaction but also pick up £millions of pounds of outlay on a business they don’t own is extraordinary.
The last part especially, I can’t think of any other possible prospective purchaser who would have done that.
The only hope for you guys is that they can see an end in sight through all the smoke and mirrors that is Ronald Martin, and that they hang in there with you.
If it still looks like muddy waters then the fear is that their heads will rule their hearts and that will cut their losses and run
 
In our town we have the very best of humanity in members of the consortium. And to our detriment we have the very worst of humanity in the shape of Ronald Martin.
 
So - the potential scenarios in my opinion -

1 - COSU pay ahead of the WUP and we rumble on
2 - It goes to the hearing and a judge possibly adjourns for whatever reason or winds us up

Ron won't put us in administration, of that I'm sure. There's no point. It would be better if we weren't around as a club.
 
Are we due a statement today from the COSU
I would guess that there's nothing useful they can say until they see how the events of today pan out. IF the council's independent advisers suggest the deal is very likely to pass DD, IF the rats haven't rowed back on what they agreed late on Friday and IF a sensible schedule for the DD to be completed is provided then they can make a decision and statement. If all the above is done and Heads of Terms signed today or tomorrow then I'm hoping they will stay onboard but of course security from Martin & Son is unlikely to be forthcoming so that would mean asking for an adjournment on Wednesday. The argument can be made that progress has been made as there would be evidence that this revised deal stands a very good chance of being completed ... eventually.
 
There’s a cabinet meeting at the council today. SUFC is NOT on the list. Absolutely ridiculous. Should be one of the first things they should be talking about!
 
You do wonder why they have gone down this route?
If no one pays it, and the club is wound up they don`t get paid.

The 🐀 has asset stripped everything out, so I don`t understand their stance.

I really urge the authorities to look into owners of football clubs, not just on initial purchase, fit and proper test, but an ongoing monitoring of how clubs are run and not being used as cash cows for greedy owners / property developers.

It has happened to far too many clubs, Blackpool, Charlton spring to mind, with these charlatan owners that cannot be removed, calling the shots.

Now I know that most clubs are run pretty well, but community assets should be exactly that and run accordingly.

In our case, a greedy property developer that is in so much debt, transferred companies into family member names, used people as cash cows to get his ill gotten gains, without ANY regulation or opposition at all. And I`d be amazed that if he was investigated they wouldn`t find anything untoward.

The mind boggles🤔
Much as I like your sentiment the most realistic outcome from such a situation would be the determination that we have too many professional football clubs in this country. The rich clubs only have their self interests at heart which pretty much explains why VAR came into the game. A regulator with teeth would change the Fair Play rules at the top (which are no such thing) and then make sure football clubs operate as businesses not playthings.
 
So - the potential scenarios in my opinion -

1 - COSU pay ahead of the WUP and we rumble on
2 - It goes to the hearing and a judge possibly adjourns for whatever reason or winds us up

Ron won't put us in administration, of that I'm sure. There's no point. It would be better if we weren't around as a club.
I may recall this incorrectly but I thought on one of the many earlier WUP threads that someone said that once a WUP had been issued you couldn’t opt for administration anyway?
 
I may recall this incorrectly but I thought on one of the many earlier WUP threads that someone said that once a WUP had been issued you couldn’t opt for administration anyway?
Administration can’t be the judgement of the court hearing for the WUP. It’s either cleared, adjourned, or liquidation.

But Ron could theoretically put us into administration before the court hearing on Wednesday if it looks like we are going to be liquidated.
 
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