Source: FOOTYMAD
Man the barricades; July 14th arrives and the embargo stays for Shrimpers
It's Bastille Day in France and we could learn a thing or two from across the Channel about revolutions as Blues chairman Ron Martin stays in Crete and another court appearance comes and goes and the club still can't sign anyone. How long will the Shrimpers faithful put up with the rubbish from Ron Martin?So it goes on; another day in court, another adjournment, and remember Paul Sturrock and his assistant have signed nothing, and will not do so until the transfer embargo is lifted.However, bills are still not being paid on time, this was a 'formality' according to Ron, if Sainsbury's are willing to 'bail' us out, let's just pay the £140k to Charterhouse if that's what we owe them?Certianly the audit the club has to present to the High Court on Monday, August 2nd to prove it's solvency will decide if we still have a football club in Southend in something like it's present form. Has Ron told porkies, surely not? From Ron's videofest part two; Friday, July 2nd)Ron Martin expects the transfer embargo to be lifted in the 'first 14 days of July'.It just gets more ridiculous by the day, and there's meant to be a pre-season friendly at Dartford on Friday with less than a full team in training!To say we are cutting it fine to start the league programme on August 7th is an understatement, and even if we do it could be with a minus 20 points next to our name!We can only hope and pray that we get out of this mess, but in gay Français, especially on this day, they would know what to do with our estemmed Chairman.But would Ron's head fit?A full discussion is continuing on Shrimperzone at:www.shrimperzone.com/vb/showthread.php?61955-High-Court-hearing-v-Charterhouse-14-07-2010You can vote in the S24 poll on the current situation here:www.southendunited-mad.co.uk/polls/loadpoll.asp?pollid=9255News of Wednesday's winding-up audit here:www.southendunited-mad.co.uk/news/tmnw/charterhouse_apply_to_ajourn_windingup_petition_against_southend_united__now_august_11_537353/index.shtmlThen there's this blog from http://www.guardian.co.uk/football/2...nance-fabregas this morning and we print the relevant paragraph here:Football clubs "don't get wound up", Ron Martin assured Southend United fans in an interview published on his club's website in April. But then he remembered that, of course, yes, some do. "I know Chester City did, but they probably didn't have any assets," he said.So what is the difference between Chester and Southend? Well, not much, according to a letter from Martin himself to HM Revenue & Customs. The chairman was writing in response to the taxman's preparations to apply for a court order for Southend's administration over a £238,710 debt (their third set of insolvency proceedings in 12 months)."If the club goes into liquidation HMRC will get nothing, because its only value is as a football club." With the freehold to the Roots Hall ground not in Southend's hands but those of an arms-length company, with only 10 first‑team players on the books and the club labouring under a transfer embargo, even that "value as a football club" is currently questionable.(Thanks to the Guardian for the printing of this section of the article.)
