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Winding Up Petitions

So are we being wound up today along with Macclesfield Town, Bury, and Billericay Town?

ROLLS BUILDING
COURT 1
Before DEPUTY INSOLVENCY AND COMPANIES COURT JUDGE ADDY QC


Wednesday 4 December 2019
Robed


At 10:30 AM

2. CR-2019-000810 MACCLESFIELD TOWN FOOTBALL CLUB,LIMITED
24. CR-2019-005844 BURY FOOTBALL CLUB COMPANY LIMITED(THE)
58. CR-2019-006939 BILLERICAY TOWN FOOTBALL CLUB LIMITED

Not before 11:00 AM

127. CR-2019-007096 THE SOUTHEND UNITED FOOTBALL CLUB LIMITED

Companies Court Winding up list
 
Bury update

Bury have been given another extension after a winding-up petition brought by HM Revenue & Customs was adjourned by the High Court. Bury to appear back in court 18th December 2019.

Link
 
Macclesfield Town update

Macclesfield Town former manager Sol Campbell has backed a bid from HM Revenue & Customs to wind up the League Two club. The High Court was told on Wednesday that the 45-year-old, who now manages Southend, is owed £182,000 by the club. Macclesfield's latest appearance came two weeks after an adjournment to establish whether a £180,000 tax debt - not the money claimed by Campbell - had been paid.

A winding-up petition issued over an unpaid tax bill was eventually adjourned for an eighth time. The financially-troubled club will now appear again before the court over their debts on 18th. December 2019.

Link
 
In view of Campbell going after Macclesfield for unpaid salary I hope Martin is taking note and making sure he gets paid on time.
 
Billericay Town update

Billericay Town said:
Billericay Town FC Club Statement – 4th December 2019

Earlier today, we were contacted by a couple of media sources for comment as the club appeared on the ‘Companies Court winding up list’. On investigation, this was an ‘unadvertised’ procedure relating to a debt from before the current consortium took control.

The club are in the process of dealing with all the creditors from that period and are comfortable that everything necessary is being done to resolve these past issues.

Billericay Town FC is stable and moving forward in the right direction both on and off the field,

Thank you for your continued support.

Link
 
Let's also be clear here. The countless winding up petitions don't make a jot of difference. They don't cost us a penny since we always represent ourselves in court and have paid anything due by the court date.

The only potential issue is that with each winding up petition we are put under a transfer embargo, but whilst the transfer window is shut that isn't an issue. So long as Ron makes sure we're up to date when we want/need to sign players then it won't impact us at all. Even that isn't definite. My understanding is that we were actually under an embargo when we signed Humphrys, but Ron found some loophole round that.

Anyone who thinks we're the only club in financial dire straits is rather naive. Most clubs owe each other money for various transfers etc. The generally accepted way of dealing with it is to raise a complaint with the FA the day before the money is paid. That way the FA are informed, and the offending club are put under an embargo for 1 day! All clubs generally look out for each other in that respect.

Our issue is that the money isn't owed to an organisation willing to play by football's (rather odd) conventions. We owe money to HMRC, and over the years they have become rightly fed up with football clubs owing them millions. They have no time for football clubs since football rules state that monies owed to eachother take precedence over any other debts. Therefore HMRC are duty bound to protect themselves against a club going to the wall owing them money.

Ron plays the game, and in doing so drags the name of the club through the mud. To us fans, and fans of other clubs that looks awful. I personally hate it. However, within football I would imagine that it makes no difference. I also doubt any agent or player will worry about that, so long as they know the playing staff are paid on time...
We should change our name to Google United and pay no tax at all. Simples.
 
We should change our name to Google United and pay no tax at all. Simples.
Or get some Yanks to buy the club and keep the debt but by paying it off they can charge huge interest on the loan, make the books to show no profit and then pay no tax.
Any and many clubs seem to be run this way with a big debt solving tax (other than VAT) payments, and just employees paye to be paid.
 
The court hearing still has to go ahead, even it’s been paid.

Yep, more wasting of tax payers money. HMRC should take a long, hard look at themselves - if it's been settled why do you have to go through the expense of a court appearance?
 
Yep, more wasting of tax payers money. HMRC should take a long, hard look at themselves - if it's been settled why do you have to go through the expense of a court appearance?

So should SUFC.

I have a friend (Chartered Accountant) who works in distressed debt. He and his partners buy failing businesses, turn them around and sell them on for a profit. We're not talking small businesses either: when we were on holiday with him and his family a few years ago they were in talks to buy a Spanish airline.

A few weeks ago I was out for a drink with him and he was telling me about one of the businesses they currently own where they had a massive cash flow issue. I asked him how HMRC are to deal with. He told me that they're very understanding and go out of their way to help out. He said that he spends a lot of time talking to them on behalf of all the companies he buys (don't forget they're all failing businesses). So long as you speak to them, explain the situation and put together a proper repayment plan then they couldn't be more helpful. I then contrasted that with SUFC and his answer was simple. Don't mess them around and they won't mess you around.
 
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Though I agree with you London Blue, it only takes one person who wants to make an example of a "company" due to constant abuse of the system and the pack of cards will come tumbling down

You are correct they would prefer the monies on time but know the system and how companies can work around it, but like everything in life whether you are a President of USA or Africa's richest woman in the world, the past will catch up with you

Whether you are found guilty is another thing
 
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