We are at a cross roads ....

[Smiffy]

Of course it is not for me to confirm we have not paid players...but if you want me to assure you we are skint and bouncing chq's about...that I can confirm 100%

Oh dear, oh dear.

This is big news if correct and surely deserves a thread of its own...

 

[EastStandBlue]

Of course it is not for me to confirm we have not paid players...but if you want me to assure you we are skint and bouncing chq's about...that I can confirm 100%

What kind of cheques are we talking about? large amounts? small amounts? petty cash?

 

[Smiffy]

What kind of cheques are we talking about? large amounts? small amounts? petty cash?

That's neither here nor there.

IF we are bouncing cheques, regardless of the amount, that is very worrying indeed.

Just when you thought we was over the worst. It appears that groundhog day could be about to strike sooner rather than later.

:thumbdown::darkcloud:

 

[Cricko]

What kind of cheques are we talking about? large amounts? small amounts? petty cash?

Why would you write a chq for Petty Cash?....I am reliably informed RM still owes huge bills to suppliers....He has as Fact bounced chq's to previous management teams and now wants to meet them and make sure they don't talk to the press...as of course now he has again broken the contract regardless of gardening leave and would not want the expose in the Echo once more.

 

[Interpol Shrimper]

This is big news if correct and surely deserves a thread of its own...

Good point and maybe the bigger question at hand is really will I hit 20,000 posts before it all comes out how Ron has gambled and failed with our, er sorry I meant HIS, club once again? :winking:

 

[EastStandBlue]

That's neither here nor there.

IF we are bouncing cheques, regardless of the amount, that is very worrying indeed.

Just when you thought we was over the worst. It appears that groundhog day could be about to strike sooner rather than later.

:thumbdown::darkcloud:

Well, the amount can generally tell what kind of trouble we're in and the severity. Poor cash flow isn't exactly something we're completely alien to, so if we're bouncing cheques used to pay previous ST's compensation then it's not as big a problem as us bouncing cheques for a menial amount used to pay for a delivery of some kind. It's still a problem, don't get me wrong, but it's a varying degree of trouble.

 

[Smiffy]

Well, the amount can generally tell what kind of trouble we're in and the severity. Poor cash flow isn't exactly something we're completely alien to, so if we're bouncing cheques used to pay previous ST's compensation then it's not as big a problem as us bouncing cheques for a menial amount used to pay for a delivery of some kind. It's still a problem, don't get me wrong, but it's a varying degree of trouble.

Yes I can see your point.

But, it does not matter if it is £100 or £100,000. All unpaid debts can lead to court action, if not settled in timely fashion. If we were to go infront of the High Court again, that would be curtains.

The flip side to it is, that it is a lot harder to find the money for a £100,000 bill than it is for a £100 bill. If it is the bigger bills we are struggling with again, then we are well and truly ****ed when the next HMRC bill lands on the RH doormat. Assuming the Sainsbury credit facility is now reading £0 of course...

All that said though, as I alluded to above. Any supplier or company or person who has not been paid what they are owed, can take us to court, regardless of the amount. The longer this list get's, the darker the clouds will become over our club.

 

[superblue24]

I'm beginning to think that administration might be our best bet to get rid of RM if what has been said is true.

Sinking further and further into debt.......And pulling us down with him.

 

[Up the Shrimpers]

I'm beginning to think that administration might be our best bet to get rid of RM if what has been said is true.

Sinking further and further into debt.......And pulling us down with him.

And going down as well. A 10 point deduction would probably be enough to see us relegated.

 

[Interpol Shrimper]

I'm beginning to think that administration might be our best bet to get rid of RM if what has been said is true.

In retrospect, this probably was true about 12-15 months ago.
I'd say it might not be now.
As said elsewhere today, if we go to the wall RM goes with us & he will cling on as long as he personally can to prevent this happening to his other business interests.

Anybody know the latest on if HMRC are still after Martin Dawn plc (I won't go as far as suggesting elements of the £5m advance were used to prop up a sister company of SUFC as I've no physical proof that might be the case).

 

[Smiffy]

And going down as well. A 10 point deduction would probably be enough to see us relegated.

That will be the least of our worries, if we go infront of a High Court Judge again this season...

 

[EastStandBlue]

I'm beginning to think that administration might be our best bet to get rid of RM if what has been said is true.

Sinking further and further into debt.......And pulling us down with him.

We'd more than likely go to the wall with RM as the club's largest creditor, leaving us still at his mercy.

Administration should have been all those years ago before Martin Dawn were even on the scene.

 

[Up the Shrimpers]

That will be the least of our worries, if we go infront of a High Court Judge again this season...

Ah but if we go into Administration and RM is ousted as Chairman then the 'Consortium' are there ready and waiting to bail us out of trouble!

 

[EastStandBlue]

Ah but if we go into Administration and RM is ousted as Chairman then the 'Consortium' are there ready and waiting to bail us out of trouble!

That's what Leeds fans thought, just before Ken Bates bought the club back at a knockdown price.

 

[Smiffy]

We'd more than likely go to the wall with RM as the club's largest creditor, leaving us still at his mercy.

Administration should have been all those years ago before Martin Dawn were even on the scene.

True.

I think we have passed the point of no return with regards to Admin.

Make no mistake. After our numerous trips to court over the last year or so. Any repeat trip which involves the non-payment of debts again, will finish us.

I just hope those that are allegedly owed sums of money, do not take legal action...

 

[Fairport]

I'm beginning to think that administration might be our best bet to get rid of RM if what has been said is true.

Sinking further and further into debt.......And pulling us down with him.

Agree, administration could well be the best bet. So many clubs have gone down this route and lived to fight another day without the huge debts on their backs. If it meant the end of Ron Martin's reign then yes, it would be worth the ten point deduction. Most clubs that have gone into administration have found buyers and got the show back on the road. It has always been difficult for whoever owns SUFC as basically losses from the last 20 years have still not been wiped out. In many ways, life has been unfair to clubs like ours, especially when Southampton went into administration, wiped out most of their debts and then forked out 1million for Lambert a few weeks later!

 

[Smiffy]

Agree, administration could well be the best bet. So many clubs have gone down this route and lived to fight another day without the huge debts on their backs. If it meant the end of Ron Martin's reign then yes, it would be worth the ten point deduction. Most clubs that have gone into administration have found buyers and got the show back on the road. It has always been difficult for whoever owns SUFC as basically losses from the last 20 years have still not been wiped out. In many ways, life has been unfair to clubs like ours, especially when Southampton went into administration, wiped out most of their debts and then forked out 1million for Lambert a few weeks later!

With our track record, I fear this won't even be an option if we end up in the High Court again anytime soon...

 

[C'mon you Shrimpers]

I cannot believe that after the castigation (rightly) of RM and him not paying his debts that people are actually advocating administration which basically gets you out of paying your debts. Extraordinary.

 

[Interpol Shrimper]

I cannot believe that after the castigation (rightly) of RM and him not paying his debts that people are actually advocating administration which basically gets you out of paying your debts. Extraordinary.

Especially when various elements of that situation would mirror what happened with Bates at Leeds and people on here were quick to slate them for "working" the system for their own personal gain.

 

[TITSUP]

.
Any supplier or company or person who has not been paid what they are owed, can take us to court, regardless of the amount. The longer this list get's, the darker the clouds will become over our club.

Three or four years back, I was told that most local suppliers would only deal in cash as they would not trust a club cheque!!