A good week for Echo financial investigations, if not for Shrimper supporters
When it rains and all that, though this isn't your average summer shower, more like a hurricane, and to Shrimper supporters it's could do more damage than the minor storm whipping up in the Gulf of Mexico!
After reporting that next Thursday, July 8th HMRC plan to take Southend United and it's chairman Ron Martin back to the High Court in London over unpaid tax, the local paper had reported today that a financial company plans to do the same, but over unpaid debts, just over a week later.
The date for this high court hearing is Wednesday, July 14th.
Anyway, the Echo's claims are as follows:
Since Feb 2009 the Echo can reveal the club has diverted all money it has received from season ticket sales, £1 to £1.5 Million according to the club, to paying off debts to financial loan Company Charterhouse Finance.....the club has also being using another mainstay of it's income a £640k a season basic award payment from the FA to pay off debts to the firm since 2008.
The Echo can also reveal Ron Martin borrowed money from Charterhouse Commercial Finance against land he owns at Ferry Road, Benfleet, where he unsuccessfully tried to develop 30 homes in the mid 90's.
There has been no official word from the club so these remain allegations, while poor old Ron, after his 'several operations' and the carry on cleaner episode, has just got the last statement posted, and is probably still working out how he can rebuke the failure to repay the Trust's loan!
From us, well we can only wait and see how this plays out.
Is Sainsbury's the fairy godmother, or even the consortium, who knows?
It's still doubtful Chairman Ron will pull out, unless pushed.
Anyway, give your view on the present financial situation via an S24 poll here:
www.southendunited-mad.co.uk/polls/voting_polls.asp
(Remembering that over 90% of you wanted Ron out last time!)
Shrimperzone has a decent thread going on here:
www.shrimperzone.com/vb/showthread.php?61557-Charterhouse-issue-winding-up-order
And for the news of Her Majesty's Taxman's very own winding-up order, go here:
www.southendunited-mad.co.uk/news/tmnw/
blues_back_in_the_high_court_
martin_will_ensure_that_the_entire_sum_is_settled_before_the_hearing
_534347/index.shtml
For the failure to repay the £60k owed to the Shrimpers Trust, here:
www.southendunited-mad.co.uk/feat/edz3/
southend_united_fc_still_to_repay_shrimpers_trust_loan
no_word_from_chairman_534358/index.shtml
Enjoy!