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First Wizard

If Southend go bust?

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We will lose 6 points and Leeds would only be 2 points behind us and not 7.

On Anglia lunchtime news, Steve Tilson said they and the players still hadn''t been paid, and, add the Col Who claim to this could we lose out big time?

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[quote user="First Wizard"]

We will lose 6 points and Leeds would only be 2 points behind us and not 7.

On Anglia lunchtime news, Steve Tilson said they and the players still hadn''t been paid, and, add the Col Who claim to this could we lose out big time?

[/quote]not gonna happen!!!

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...but as I said in another post; Leeds could be 3 points ahead of us now and they would still fluff it up so who cares?

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They won''t kick Southend out this late in the season, they will wait until the summer. Col who''s claim won''t lead to a points deduction and people should worrying.

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[quote user="city-till-i-die"][quote user="First Wizard"]

We will lose 6 points and Leeds would only be 2 points behind us and not 7.

On Anglia lunchtime news, Steve Tilson said they and the players still hadn''t been paid, and, add the Col Who claim to this could we lose out big time?

[/quote]not gonna happen!!![/quote]Err? thats contary to the media and demo''s at Southend. We''re talking Kings Lynn here, before the season ends.

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[quote user="First Wizard"]

We will lose 6 points and Leeds would only be 2 points behind us and not 7.

On Anglia lunchtime news, Steve Tilson said they and the players still hadn''t been paid, and, add the Col Who claim to this could we lose out big time?

[/quote]

I just can''t see it happening Wiz,they will get until the end of the season i''m sure.

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I think it''s very possible Southend could be wound up before the end of the season. They have til April to pay up on unpaid taxes and if they don''t then I''m sure they will be wound up, they only narrowly survived in the last hearing. Still by that date we could be quite comfortable and not concerned but we could also be ruing the mismanagement of Southend [:|] Here''s snippet from a blog on the BBC about the winding up court:[quote]

...It''s in these surroundings that football clubs are fighting for their

lives. There is some sympathy, but precious little is left for ailing

football clubs.

The HMRC''s barrister,

Matthew Smith, has heard it all before. So too Mrs Registrar Derrett,

possessed of a businesslike manner, bordering on the brusque, and when

merited a chiding tone. She runs a tight ship - don''t mess.

Southend,

said the HMRC''s man, were a "habitual defaulter", "plainly insolvent"

and "must be wound up today". He accused them of playing for time by

previously claiming they would contest their VAT bill, but failing to

put a case together.

There followed a moment of drama as Southend''s brief produced a

sealed letter, hot off the press, setting out sources of future funds.

There followed a pause as its contents were digested then dismissed

by the HMRC.

It cut little ice with registrar Derrett either, who concluded that: "On

the face of the evidence, this company is insolvent."

Southend''s survival hinged on the argument that it''s in the midst of a

negotiation with a major retailer to redevelop the ground and its

surroundings.

"It''s only the retail development that makes me hesitate," said the

Registrar, pondering on whether to pull the trigger, but instead opting

for the stay of execution.

Southend

United fans, your club has 35 days to pay up in full.

[/quote]

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Yes, and we are also talking about the football league, your stupid if you think they would allow a club to leave the league this late in the season

they''ve been give 30 days which takes us to mid-April ,less than 3 weeks before the season ends. It simply won''t happen before the end of the season.Fact

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I reckon they will limp along and survive the season Wiz but if they don''t I wouldn''t panic just yet. Leeds will indeed be just 2 points ahead but we would also have a game in hand on them. Unlike Leeds, games in hand actually mean something because were playing well.

Secondly and more importantly the chasing pack dont gain much on us. Charlton have won both against them so are in the same position. Millwall only got 4 points so would gain 2 points on us. Thus our advantage over 3rd place is cut by only a point.

Remember getting promoted is all that matters still. We can focus on the title afterwards.

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In fact Wiz Leeds would still be four points behind and we would have a game in hand. Relax mate, we''ll be fine!

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Portsmouth are still in business, presumably Southend would just go in to adinistration like them. Anyway, Leeds play Southend a few days before their next court hearing, so it will all even itself out.

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[quote user="First Wizard"]We will lose 6 points and Leeds would only be 2 points behind us and not 7.

On Anglia lunchtime news, Steve Tilson said they and the players still hadn''t been paid, and, add the Col Who claim to this could we lose out big time?[/quote]You''re not as good as you used to be. The young Wiz would have added "and if we lose our last ten games"............

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[quote user="tom1902"]Yes, and we are also talking about the football league, your stupid if you think they would allow a club to leave the league this late in the season

they''ve been give 30 days which takes us to mid-April ,less than 3 weeks before the season ends. It simply won''t happen before the end of the season.Fact[/quote]

And where does your FACT come from

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[quote user="tom1902"]Yes, and we are also talking about the football league, your stupid if you think they would allow a club to leave the league this late in the season

they''ve been give 30 days which takes us to mid-April ,less than 3 weeks before the season ends. It simply won''t happen before the end of the season.Fact[/quote]Saying "Fact" does not make it so, remember the Football League does not wind up clubs, it''s the HMRC that''s in charge and if they say that Southend is to be wound up before ALL games have been played then the football league have no option but to follow the rules and null and void all points obtained against them as far as I see it.

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Chester were wound up.  I believe Farsley Celtic in the Conference North fell victim to it too just last week.

Judging by the Southend forums their last game will be on the 13th April if they do get wound up.

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[quote user="Graham Humphrey"]

Chester were wound up.  I believe Farsley Celtic in the Conference North fell victim to it too just last week.

Judging by the Southend forums their last game will be on the 13th April if they do get wound up.

[/quote]

The arguement Southend have is over quantum - they have paid what their advisors calculate is the amount due whereas the revenue are now stating a different figure. My sources tell me that they have the funds available but that they are arguing over teh calculations. The revenue are getting heavy handed and not responding to queries over the calculation and attempting to bully southend into paying an amount that has not been properly explained so southend are digging their heals in. - http://news.bbc.co.uk/sport1/low/football/teams/s/southend_utd/8507587.stm

There will be lots of water under the bridge before this one is resolved either way.

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[quote user="RUDOLPH HUCKER"]Did Chester''s previous opponents lose the points, Graham?[/quote]

Yep - all their results were expunged so the table was readjusted to account for that.

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[quote user="city4eva"][quote user="tom1902"]Yes, and we are also talking about the football league, your stupid if you think they would allow a club to leave the league this late in the season they''ve been give 30 days which takes us to mid-April ,less than 3 weeks before the season ends. It simply won''t happen before the end of the season.Fact[/quote] And where does your FACT come from[/quote]

If anything, I think they will just go into admin at end of season with a points deduction in the same manner as Luton did and so did others.Lets hope the football league will pull together on this one like they have for Pompey, or Maybe Cowling offer them help, then snap up players off them in the summer for nothing, and on that note could we be in for any of thier players   

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I think having most of the season being played by then the more likely factor would be they treat it like Southend are unable to field a team and their opponents get 3pts.Your talking by the end of April and by then most of the positions in the table will pretty much already be sorted appart from possibly 6th and the last relegation spot.People go on about how clubs like us struggle with the money we get in gates etc but how does a club that size over-spend? Its not like they had the money to gamble with in the first place. However it is yet another reason why the FA and FIFA need to sort out the current game and get to grips with player wages etc.

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What stops clubs just biting the bullet and going into administration? Surely that would be better than ceasing to exist. Why didn''t Chester or Kings Lynn do that?

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[quote user="Notts Canary"]What stops clubs just biting the bullet and going into administration? Surely that would be better than ceasing to exist. Why didn''t Chester or Kings Lynn do that?
[/quote]

It really depends upon whether there is actually anything to save. Administration you are trying to save something (IE administer it) whilst you are trying to find new investment or buyers. Liquidation you are getting rid of something. If debts are so vast there is no chance of recovery then you would liquidate but in administration you can then look to get more investment or come to a creditors voluntary arrangement (which the binners did) under which you make an arrangement to pay so many pence in the pound to creditors. Some creditors prefer that as it means they get something rather than nothing.

The reason that the revenue seem to be getting heavier these days is that they are no longer a preferred creditor. It used to be as a preferred creditor they got paid before everyone else but now they rank with all other creditors

 

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It is if we pay that for an emergency loan . . . there are ways and means. Pick a half decent first teamer and take him on loan and pay them £100k - where is the problem?

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Haven''t they already paid £2m and are just quibbling over the rest of the amount due? I''m sure it will get paid, hope so as none of us want to see any clubs go out of business.

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Are you saying that if Southend go into liquidation we and everyone else that has played them would lose the points they won against them but people who haven''t played them get 3 points? If so this is the biggest bullsh!t rule i have ever heard.

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