Breaking News WUP Court Hearing - 4th October- Case Dismissed.

[shrimperjon]

Tweet above has been shared - but it's now been confirmed that the appeal was refused yesterday and the 10 point deduction remains in place (no surprise there).

I do, however, stand corrected and it is in fact a further 10 point deduction if we enter administration (https://s3.eu-west-1.amazonaws.com/files.pitchero.com/leagues/13676_1691057466.pdf) - not that it eases the pain much.

https://x.com/londonshrimper/status/1704176408895885740?s=20

Just to clarify a few points from my Tweet:

• The case involving nPower is at Chelmsford Magistrates' Court on 3 October 2023 at 10am - not the Crown Court, as someone said above, or in the High Court, as the Echo are reporting.
• When I tweeted "will not be at High Court on 4 Oct, but would not say why" - this is about the club, not specifically Ron (perhaps could have been worded better on my part, but restricted to a character limit).
• Ron was certain about the court hearing not going ahead 4 October 2023 - which suggests either the money owed will be settled in full, he hopes to have some sort of deal done with HMRC and the other creditors, or he is content for us to enter administration.
• I fear the latter, and Justin Rees' statement (https://www.shrimperzone.com/forums/threads/justin-rees-statement-20th-september.116191/) the following day noted "As such, it has been our strong preference to avoid Administration, however this is of course not within our control." For me, the fact he is addressing administration makes it seem that this is inevitable and he is making clear that this is not his fault, hence mention of the two bids this week that have failed.

Been told Sky Sports News mentioned the toy rat protests during the game the other night. Also great that ITV News highlighted the protests and current situation at the club last night - we need as much national exposure as we can get at present. ITV will continue to monitor the situation.

A few people jumped on my back 3 or so months ago when I tweeted "Little reported by Chris Phillips & the Echo.". I made it clear that I wasn't knocking Chris or his efforts. His footballing reporting is great. However, there had been little pressure or exposure of Ron Martin at the time by the Echo. The front page today, though, is excellent, albeit too late.

The protests need to be ramped up. Two home games left before 4 October, one of which is a Tuesday night game the day before. This Saturday is key. Hopefully something else is on the horizon, in addition to the march, which will again bring us some much-needed coverage.

If we enter administration then the consequences are ghastly:

• 10 point deduction (almost certainty for relegation to the NL South, but you never know with these boys)
• The hope would be to generate a better return for creditors than they would get in a liquidation and try to rebalance the books so to speak
• The club would first need to pay in full the salaries of all players and management, as well as the league and other clubs for any transfer fees not yet paid (understand Altrincham are still waiting to be paid in full for Dan Mooney)
• The accountants put in charge then try and secure the best deals on all the monies owed to the creditors - this is preferential for them as they'd get less if we were liquidated
• HMRC would obviously only then be paid a fraction of what it is owed
• Likely that our most valuable assets would be sold to assist with this, i.e. our best players
• The club cannot be in administration for more than 18 months
• Liquidation is a threat - if the accountants find that the club does not own enough assets to pay the creditors then we will be liquidated and closed down (look at Chester, Darlington, Bury, etc.)
• Administration is not necessarily the end though (look at Southampton, Huddersfield, Derby, Stockport, etc.)

If we do enter administration the protests need to be like never before.

I am told that Justin Rees is still working away on a negotiations, but Ron is yet to accept anything on the table.

Also been told that there was someone from another group at the game on Tuesday night possibly interested in buying the club, but that is no where near as advanced as the Australian consortium.

Just praying for this mess to come to an end. The players, management staff and fans do not deserve this.

#MartinOut

Great work mate

 

[West Stand]

Administration and another 10 point deduction. That’s 20 point deficit.

Based on last season we’d have escaped relegation by 1 point.

If we can keep the players we currently have, find a buyer and get a few more faces in then I’d be confident we’ll survive in the NL. Won’t be that simple sadly.

Entering any type of Insolvency event of which Administration is one brings with it an immediate embargo.

Any player for which a fee could be generated and that could mean players leaving on a loan. Its not a given but it’s possible if not enough funds are generated to pay bills as the come in then players could be made redundant and that brings all sorts of complications.

Reflect back to that statement from Scunthorpes chairman don’t just look at the wages look at other costs such as travel and you will see how much money will need to be generated to convince any administrator that the club could trade .

There won’t be any EFL parachute money, there won’t be any discounts when it comes to Business Rates, Insurances and so on. It’s going to be a massive challenge and as kentblues states EFL clubs can’t buy any players so the market for any players will be small.

ST holders create an interesting dilemma when it comes to an Administration and whilst I haven’t seen any comment this season on the bank drip feeding cash as the games were played but if they are doing that this season that will help

 

[cerbera45]

So EOn are really planning to send bailiffs in? The dirty no good b@st@rds!

FRANKFURT, July 27 (Reuters) - E.ON (EONGn.DE), Europe's largest energy networks operator, on Thursday reported a 64% rise in adjusted net profit during the first six months of the year, citing a stabilisation in energy markets, and it raised its forecasts for 2023.

The profit increase and upgrade in outlook underscore a broader sector recovery from last year's energy crisis in the wake of the Ukraine war.

Adjusted net profit was 2.3 billion euros ($2.53 billion) in the first six months of the year, up from 1.4 billion a year earlier, E.ON reported in an unscheduled release.

https://www.reuters.com/business/en...orecasts-energy-markets-stabilise-2023-07-27/

I used to work for E.On - until they decided to get rid of us to save money.

 

[Redbridge Blue]

So how is the outcome of the court dates of 3rd and 4th October likely to play out.

As I understand it from other posts, the court case on the 3rd is to facilitate the power suppliers gaining access to disconnect the electricity at RH. We have a game against Oxford City that evening so presumably that would be in jeopardy. Can it be rearranged with the consent of the National League?

On the basis again of posts I have read, RM has said that he will not allow the club to be wound up on the 4th which suggests that without a deal he will put the club into administration. Will he do this before the 3rd when the hearing takes place to disconnect the electricity supply. If he does put the club into administration what impact, if any, will that have on the power supply companies’ case? Can they still proceed or is this case frozen bearing in mind that the case apparently revolves around access for disconnection?

If the power company are able to proceed on the 3rd, with the club in administration, then how can any administrator keep the business operating without any electricity supply? Presumably the debt owed to the power company would become part of any future payments to creditors. However, if the electricity has been disconnected by the power company do they have an obligation to reinstate it if the club is in administration.

From what I have read creditors can't take legal action against a company in administration to recover outstanding amounts so from the point of view of stopping the power companies’ action to obtain access, it would seem to me that RM will have to take us into administration before the 3rd.

If I am correct then to ensure he does not run out of time for the above to play out, it might well be the case that administration takes place this coming week. That way he may be able to frustrate electricity being disconnected which could otherwise force any administrator to conclude that the club was unable to continue trading.

I am no expert on these matters so it would be good to hear what others think.

 

[Holy Joe]

So how is the outcome of the court dates of 3rd and 4th October likely to play out.

As I understand it from other posts, the court case on the 3rd is to facilitate the power suppliers gaining access to disconnect the electricity at RH. We have a game against Oxford City that evening so presumably that would be in jeopardy. Can it be rearranged with the consent of the National League?

On the basis again of posts I have read, RM has said that he will not allow the club to be wound up on the 4th which suggests that without a deal he will put the club into administration. Will he do this before the 3rd when the hearing takes place to disconnect the electricity supply. If he does put the club into administration what impact, if any, will that have on the power supply companies’ case? Can they still proceed or is this case frozen bearing in mind that the case apparently revolves around access for disconnection?

If the power company are able to proceed on the 3rd, with the club in administration, then how can any administrator keep the business operating without any electricity supply? Presumably the debt owed to the power company would become part of any future payments to creditors. However, if the electricity has been disconnected by the power company do they have an obligation to reinstate it if the club is in administration.

From what I have read creditors can't take legal action against a company in administration to recover outstanding amounts so from the point of view of stopping the power companies’ action to obtain access, it would seem to me that RM will have to take us into administration before the 3rd.

If I am correct then to ensure he does not run out of time for the above to play out, it might well be the case that administration takes place this coming week. That way he may be able to frustrate electricity being disconnected which could otherwise force any administrator to conclude that the club was unable to continue trading.

I am no expert on these matters so it would be good to hear what others think.

Logic would say, if you're going to go into admin and everything is lined up to do it, go into admin before wages are due - end of this week

 

[Cricko]

So how is the outcome of the court dates of 3rd and 4th October likely to play out.

As I understand it from other posts, the court case on the 3rd is to facilitate the power suppliers gaining access to disconnect the electricity at RH. We have a game against Oxford City that evening so presumably that would be in jeopardy. Can it be rearranged with the consent of the National League?

On the basis again of posts I have read, RM has said that he will not allow the club to be wound up on the 4th which suggests that without a deal he will put the club into administration. Will he do this before the 3rd when the hearing takes place to disconnect the electricity supply. If he does put the club into administration what impact, if any, will that have on the power supply companies’ case? Can they still proceed or is this case frozen bearing in mind that the case apparently revolves around access for disconnection?

If the power company are able to proceed on the 3rd, with the club in administration, then how can any administrator keep the business operating without any electricity supply? Presumably the debt owed to the power company would become part of any future payments to creditors. However, if the electricity has been disconnected by the power company do they have an obligation to reinstate it if the club is in administration.

From what I have read creditors can't take legal action against a company in administration to recover outstanding amounts so from the point of view of stopping the power companies’ action to obtain access, it would seem to me that RM will have to take us into administration before the 3rd.

If I am correct then to ensure he does not run out of time for the above to play out, it might well be the case that administration takes place this coming week. That way he may be able to frustrate electricity being disconnected which could otherwise force any administrator to conclude that the club was unable to continue trading.

I am no expert on these matters so it would be good to hear what others think.

Good post. Personally I see the only road will be admin. He has not got the money to pay the bills and any chance of somebody else saving us IMO, there is not enough time. I do expect to see some action this week.

I would of course love to be proved wrong.

 

[Shrimpergonzo]

Good post. Personally I see the only road will be admin. He has not got the money to pay the bills and any chance of somebody else saving us IMO, there is not enough time. I do expect to see some action this week.

I would of course love to be proved wrong.

… but not about the “action this week” bit, eh?!

 

[cerbera45]

Here we are edging towards the 4th October precipice.

 

[Floval Flyer]

The dates are key and seem to be a major issue if the E.On court case predates the 4th October as I understand. It means that E.On can legally cut the power off, if the other way round the club, I’d put into admission then any money owed to creditors or suppliers would be frozen.

FAQ’s for companies in administration

Answers to the most frequently asked questions on companies in administration for employees, customers and suppliers.

www.pwc.co.uk

Question is, what happens if E.On cannot access RH due to a large crowd blocking their entry?

Would the game v Oxford still go ahead if a mod stopped E.on from cutting off the leccy?

And also assume that if we then go into administration on 4th E.on have no option other than to wait for their money with the rest of the supply base?

What a freakin’ mess

 

[Fairport]

I would think NPower would still have to give the club 7 days to pay even if they are successful in getting a warrant to enter the premises.

 

[Floval Flyer]

I would think NPower would still have to give the club 7 days to pay even if they are successful in getting a warrant to enter the premises.

I understand the court case is to gain access, not to seek payment as it’s gone beyond that.

(FWIW I believe it’s E.On BTW?)

 

[Shrimper]

I would think NPower would still have to give the club 7 days to pay even if they are successful in getting a warrant to enter the premises.

I think they were going to cut it last time if the case had been heard

 

[Billy Bests boot laces]

Question is, what happens if E.On cannot access RH due to a large crowd blocking their entry?

Would the game v Oxford still go ahead if a mod stopped E.on from cutting off the leccy?

Probably depends on what time the court case is heard during the day?. Last weeks one was adjourned because of a loony feeding pigeons FFS!, which probably was to our advantage.
And whether or not notice has to be given before disconnecting?.

 

[Redbridge Blue]

Probably depends on what time the court case is heard during the day?. Last weeks one was adjourned because of a loony feeding pigeons FFS!, which probably was to our advantage.
And whether or not notice has to be given before disconnecting?.

Strange that how the case couldn't go ahead ............... If I didn't know better I would say it was arranged!!!!

 

[Billy Bests boot laces]

Strange that how the case couldn't go ahead ............... If I didn't know better I would say it was arranged!!!!

Maybe 'The Rat' knew the Pigeon feeding person, & gave them bags of bread crumbs to drag the case out?.

 

[in the know]

He wouldve charged for them.... Tuppence a bag?

 

[cerbera45]

I understand the court case is to gain access, not to seek payment as it’s gone beyond that.

(FWIW I believe it’s E.On BTW?)

nPower was acquired by E.On a little while back

 

[West Stand]

I would think NPower would still have to give the club 7 days to pay even if they are successful in getting a warrant to enter the premises.

No they have already given 7 day’s notice if they get a warrant they are only required to give 24 hours

 

[Redbridge Blue]

No they have already given 7 day’s notice if they get a warrant they are only required to give 24 hours

I thought someone has said that bailiffs were waiting around for the conclusion of the last court date with the intention of forcing entrance to disconnect. If this is correct then it may not be that we will have 24 hours notice.

 

[Shrimper]

Is it £1m we owe them? Seem to remember seeing that somewhere