Winding Up Order Wednesday

[NZamba Legend]

Why would HMRC confirm this to a third party?

SUFC would have receipt of payment and they would show this to the EFL?

 

[Leo210856]

Far too many are getting hung up on the HMRC WUO and the links to the embargo.

Clubs in the EFL are required to make a report to the EFL HMRC debts and it on that report the EFLwill base its actions.

 

[TJC]

The point maybe not fully being grasped is that the difference is its not us asking the judge for adjournments its HMRC. They are asking because first they are seeing some payments and intent, secondly because probably they have representations from SBC and our project partners that progress is being made and the development is expected to happen. Under these circumstances HMRC will ask for the case to be adjourned- their goal is to get the money- and a judge will never deny an adjournment requested by HMRC in a case brought by HMRC. Of course all this was agreed prior.

So- nothing has changed...

We need funding that is conditional on planning approval at which point Ron has substantial assets/collateral to restructure the club finances.
HMRC see this progressing based on representations from other parties (they wont just believe Ron)
Payments on account help in showing good faith
Its not if but when, as it always has been.

So focus moves to two things given the 42 days
1. If it is paid in say 21 days before the window closes, and HMRC confirm the debt is settled, can/will EFL then lift the embargo (obviously a critical point for signings)
2. How do we make the most of the squad we have and, rather than roll over saying oh that's it we are down, make sure we aren't. A part of MM's attraction will be his belief that first and foremost you make the most of what you have- I believe he is good enough to keep us up and will do so. Just not with the game plan from Sat- but I suspect needs must and that approach will be discarded for another time.

This needs to be pinned or something. Its a great explanation and plausible. Doesn't detract from the fact we are in the s**t, but seems to be managed s**t

 

[kentblues]

SUFC would have receipt of payment and they would show this to the EFL?

Under EFL regulations every Club must provide written authority to the EFL and HMRC allowing HMRC to share the information to the EFL. Failure to provide such authority = suspension from the league. Hence EFL would be able to satisfy themselves any Default Event had been satisfied.

EFL Official Website - Section 4 - Clubs

www.efl.com

 

[BriggBlue]

so what, as fans, can we do about this? in the past other clubs have had collections at the turnstiles which obviously won't happen due to covid but is there anything we can be doing to help the club clear this debt? how much interest would there be in people pledging money to the trust if it was used implicitly for clearing this debt only? would the trust be receptive to this, more to the point would Ronald?

 

[yogi bear up the cagire]

The regulations don't mention court dates. The reason being the Default Event is the late payment irrespective of whether HMRC issues court proceedings or not. The end of that Default Event is when the debt is paid. So if we pay it and HMRC confirms same to the EFL by the EFL regulations the Default Event is ended and so should be the embargo?

Of course my trust in the EFL and regulations is somewhat limited hence I was and am very open to be told I am wrong. But it would be a case of secret regulations applying rather than the ones actually written down?

Oh sorry for those interested

EFL Official Website - Section 4 - Clubs

www.efl.com

May be interestring to see what happens over the next couple of week concerning bringing players in. If there are signs of some incoming then maybe we can hope that the debt could be settled just befor the transfer window closes?

 

[Chairman Trigg]

I do wonder what this will do for your players desire to perform well, what with the clubs financial clouds getting darker over the club and I would have thought the strong possibility of not getting paid on time. MM will have to be very convincing to keep them positive about better times ahead.

If Saturday was anything to go by he's not convinced anyone!

 

[kentblues]

May be interestring to see what happens over the next couple of week concerning bringing players in. If there are signs of some incoming then maybe we can hope that the debt could be settled just befor the transfer window closes?

That would be my interpretation and hope. But no warranties implied or given as they say...

 

[Westcliff DGS]

Yep they were

I don’t think the EFL did make any early payments in the end, certainly not from the advance of solidarity payments paid by the premier league

 

[Stuart W]

There doesn't seem much point in vilifying Ron. Yes, most of us wish the club was better run, but Ron is clearly trying to pay the debts. The situation has been exacerbated with COVID and there is no point calling on him to sell because he's going nowhere until Fossetts is sorted because he stands to gain too much.

The issue is cash flow and we do need to hear how he intends to pay this £491,000. If he is struggling, he needs to swallow his pride and say so because we have a strong fan base and trying to raise the money in 42 days should not be impossible. Talk to the Trust, who have some funds (although probably not anywhere near the amount required) and get the fans mobilised.

I suppose we should wait to hear what he has to say. The positive is that he has clearly been trying to pay and has whittled the debt down despite the lack of income coming into the club.

But none us really knows the financial situation the club is in right now. It looks bad, but we remain closer than ever to the FF golden goose (at least for Ron) so I am sure Ron just needs to buy time.

On the pitch though, the situation is very bleak indeed as a result of this.

Wait to hear what he has to say? Seriously? I think you hear more out of North Korea than you do out of the resident of Benfleet. Is he that stupid not to realise that by just COMMUNICATING with the fans he would at least command some respect? Not only that but it might motivate fans to get a fighting fund going...we would know what it would take to pay off the deficit.
But instead he tells us f all, remaining aloof and generating a mass of speculation, doom, gloom and despondency.
Ron, you are heading up s..t creek without a paddle, even though a paddle is there if you would acknowledge it.

 

[Leo210856]

I don’t think the EFL did make any early payments in the end, certainly not from the advance of solidarity payments paid by the premier league

Here’s what was reported in April

In a statement, the Premier League said: “Discussions also took place regarding financial relief for clubs in the short term and while there is no single solution, measures are to be put in place to immediately deal with the impact of falling cash flow.

“Critically, the League unanimously voted to advance funds of £125 million to the EFL and National League as it is aware of the severe difficulties clubs throughout the football pyramid are suffering at this time.”

 

[Jonny_Stokes]

I'll be honest. I've got to the point with Ron that I'd take administration a points deduction if it meant finding new owners who can actually Run a club.

The end is close....too many fans stood by and done nothing to stop Ron from killing this club. ?

Good job I’ve got a bit more class than you two, eh?

 

[Rob49]

Good job I’ve got a bit more class than you two, eh?

Leyton Orient fans must be congratulated in finally taking direct action against their former owner. It certainly sent a message to him and It is likely to helped get rid of him,

 

[Supershrimper]

so what, as fans, can we do about this? in the past other clubs have had collections at the turnstiles which obviously won't happen due to covid but is there anything we can be doing to help the club clear this debt? how much interest would there be in people pledging money to the trust if it was used implicitly for clearing this debt only? would the trust be receptive to this, more to the point would Ronald?

To clear the £493k debt your asking say ticket holders (of which around 1,400 have parted money this year) to pay another £352 to clear the debt.

If 10,000 people pledged £50 we'd have £500k. Enough to clear the debt and buy a few cans to celebrate in the park.

Really hope Ron has something up his sleeve with the council. They need to approve the planning sharpish when it goes back in and then Ron can crack on with building a stadium and flats to start earning the money.

Until that time comes it will just be a slow and painful deaf until the house of cards comes crashing down.

 

[Jonny_Stokes]

Best of luck with the future hearing. Obviously today’s result is considerably more worrying than in the past when he’s just paid it off, but you’re still in there. Going to be looking pretty bleak on and off the pitch for a while; I’d strongly suggest that you all get involved with the Shrimpers Trust, which should itself be moving to a war footing.

 

[londonblue]

Does this all mean we get to celebrate our embargo anniversary?

If so, happy anniversary everyone.

 

[Shrimpergonzo]

I have it on reasonably good authority that a statement from our glorious leader is being prepared....

 

[hlane17]

I have it on reasonably good authority that a statement from our glorious leader is being prepared....

Chris Phillips seems to believe so too...

 

[Leigh_Seasider]

Forgive me for not wanting to scroll through pages of Ron rage, but has the failure to pay in full today resulted in an extension of the embargo? I haven’t yet seen an EFL statement or do we take this as a given ..

 

[londonblue]

I have it on reasonably good authority that a statement from our glorious leader is being prepared....

Can't ****in' wait.