Again, rather flawed as he tore the contracts up some 6 months or so
after receiving and spending most of the money.
I have gone through the figures many times over the last 5 years, including the post you actually replied to and every time you raise the 5 million we received.
We did have liabilities and spent half of the money well before we were relegated.
Read this :
http://www.echo-news.co.uk/news/8312868.Sainsbury_s_puts___5m_cap_on_its_Blues_bailout/
Here is a nice easy to read couple of paragraphs to highlight it
Evidence drawn up by the club to defend the administration application detailed how Sainsbury’s has agreed to lend a maximum of £5,071,711 to Roots Hall Limited, which owns the current ground and will in turn lend cash to the club.
However, the document showed nearly £3million of this had already been used since November (2009), clearing earlier tax debts. Another £240,000 is due to be spent by next week (Aug 2010) clearing another tax bill and the Charterhouse debt, meaning the club has about £1.8million left from Sainsbury’s to deal with debts and taxes over the next 12 months.
We didnt receive 5 million in one go, most of it was received well before we were relegated, we paid the tax bill in November 2009, per this article :
http://www.southendstandard.co.uk/news/7986523.Blues_backed_by___3m_Sainsbury___s_guarantee/http://www.southendstandard.co.uk/news/7986523.Blues_backed_by___3m_Sainsbury___s_guarantee/
So Ron went to court over these debts just as a ruse? The justice system and HMRC submitted winding up orders just for Ron as part of his fabrication? . Hmmn...
You ask why HMRC didnt bury him, simple, because we paid the bills using the money we got. Its all there in black and white.
We never received 5 million in one go, we never had 5 million sitting in our bank account. It really is that simple.
