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Winding Up Order Wednesday

Shrimperjohn

Newbie⭐
Joined
Mar 31, 2013
Messages
453
So who are those in the know that will speculate on the outcome on Weds. it’s in my mind one of the most important day’s in our long history.
 
We have had so many that have been paid a discharged that we have become complacent.

This is a big deal and I hope Ron has prepared.
 
There’s three potential outcomes

1 - Ron pays the debt in full

2 - We defer again, meaning the embargo stays in place

3 - We fold

I’m relatively confident it won’t be number three.

It’s a coin flip between the other two.
 
There’s three potential outcomes

1 - Ron pays the debt in full

2 - We defer again, meaning the embargo stays in place

3 - We fold

I’m relatively confident it won’t be number three.

It’s a coin flip between the other two.
It is possible to defer again? Surely there’s only so many times we can do that.
 
So who are those in the know that will speculate on the outcome on Weds. it’s in my mind one of the most important day’s in our long history.

If our legal defence is anything like the defence that played against Harrogate my bet is that the club will be wound up on Wednesday, Ron will receive the death penalty commuted to life imprisonment and every Southend fan will get six points on their driving licence and made to sign the sex offenders register.
 
It is possible to defer again? Surely there’s only so many times we can do that.

If HMRC accept it, then yes.

They don’t necessarily want to put us out of business, they just want their money... if that means the wait goes on, then so be it.
 
If Ron pulls this off again i think whenever he takes his seat in Roots Hall he should have his on walk on music

 
It is possible to defer again? Surely there’s only so many times we can do that.

Due to covid there may be exceptional circumstances. However having an embargo continue will likely relegate us. Just would be a prolonged painful death.

Ron has season ticket money so there is no excuse unless he wants to fold the club and bank it himself. Wouldn't put it past him!
 
You would think so, but as far as HMRC are concerned they will want to recover the debt, or as much of it as they can. The winding up process would be costly for them and they would have to consider whether they would recover very much. It could be a better option for them to keep the order in place and just keep extending it.
 
If our legal defence is anything like the defence that played against Harrogate my bet is that the club will be wound up on Wednesday, Ron will receive the death penalty commuted to life imprisonment and every Southend fan will get six points on their driving licence and made to sign the sex offenders register.
Jesus that is a little extreme don't you think? Six points?
 
If we are wound up HMRC get zero. No meaningful assets to be first in line for
They also have SBC and Homes England all on board for a £300m project that funds a club restructuring
They will extend if they have too
However, after Sat Ron probably understands we need out of the embargo now
Problem is as it always has been - nothing has changed- it’s not if but when the £££ are available and that isn’t in Ron’s control..
 
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I don’t think ST money or any transfer fees received have to much relevance on ability to pay the debt as it’s the only income the club have had and meanwhile every day bills such as salaries and future income tax payments to HMRC are racking up. The only way he can pay what’s owed is surely out of his own pocket. I can’t see much money being available to recruit quality if the embargo is lifted as any spare money in the pot surely has to be earmarked to pay off the next set of salaries and bills
 
To be honest, non league football is harder to get out of, ask Wrexham and Chesterfield FC. He better pay it off on Wednesday or else!!
 
As previously shared by the regular contributor from other side of the Essex divide, their chairman did outline in a statement what allowances were being made to clubs for them to shore up their finances, two of which were:
...2. The Taxman has allowed us all to defer PAYE payments.
3. The VAT man has allowed us all to defer VAT payments....
Maybe the wolf won't be at the door for the rest of the season if Ron can pay off HMRC before the hearing and thus there won't be the prospect of another immediate embargo?
 
As previously shared by the regular contributor from other side of the Essex divide, their chairman did outline in a statement what allowances were being made to clubs for them to shore up their finances, two of which were:
...2. The Taxman has allowed us all to defer PAYE payments.
3. The VAT man has allowed us all to defer VAT payments....
Maybe the wolf won't be at the door for the rest of the season if Ron can pay off HMRC before the hearing and thus there won't be the prospect of another immediate embargo?
He have two more days to sort his s*** out!!
 
Due to covid there may be exceptional circumstances. However having an embargo continue will likely relegate us. Just would be a prolonged painful death.

Ron has season ticket money so there is no excuse unless he wants to fold the club and bank it himself. Wouldn't put it past him!

The season ticket sales doesn't cover the amount owed. It's maybe a third of the sum.
 
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