EFL Winding Up Petitions List

[RyanioBirdio]

Grim reading going back to the start of this thread.

Oxford United - 14 March 2018 (HMRC)
Oxford United - 7 November 2018 (HMRC)
Oxford United - 11 Jan 2019 (HMRC)
Oxford United - 3 April 2019 (HMRC)

Four winding up petitions in Tiger’s first 13 months, while the word at the time was that moving funds into the UK was proving difficult. Not that anybody truly knows where the money was coming from or exactly who it belonged to. Has whoever was ultimately putting that money in been paid off and sent away by Bakrie and co?

Now you look at Reading, where both Tiger and Pairoj (who I believe both still own chunks of the club to this day) have been involved, and you see what could well have happened to us if our current majority owners hadn’t turned up when they did to start bankrolling things.

 

[MarkG]

Grim reading going back to the start of this thread.

Oxford United - 14 March 2018 (HMRC)
Oxford United - 7 November 2018 (HMRC)
Oxford United - 11 Jan 2019 (HMRC)
Oxford United - 3 April 2019 (HMRC)

Four winding up petitions in Tiger’s first 13 months, while the word at the time was that moving funds into the UK was proving difficult. Not that anybody truly knows where the money was coming from or exactly who it belonged to. Has whoever was ultimately putting that money in been paid off and sent away by Bakrie and co?

Now you look at Reading, where both Tiger and Pairoj (who I believe both still own chunks of the club to this day) have been involved, and you see what could well have happened to us if our current majority owners hadn’t turned up when they did to start bankrolling things.

My concern is that our currrent ownership group were convinced that the Stratfield Brake would go ahead with all of the surrounding hotels, the leisure facilities and ice rink for them to make some money. They then found out that what would be easily done in the far East was not so easy in England, and now find themselves offered the Triangle on a long lease and all the conditions attached. Would be very easy for them to walk away.

Back to your question, I havn't looked at the holding company on the Singapore companies house for a while. In particular I don't think last time i looked there was much to see apart from shareholdings.

 

[holdsteady]

My concern is that our currrent ownership group were convinced that the Stratfield Brake would go ahead with all of the surrounding hotels, the leisure facilities and ice rink for them to make some money. They then found out that what would be easily done in the far East was not so easy in England, and now find themselves offered the Triangle on a long lease and all the conditions attached. Would be very easy for them to walk away.

Back to your question, I havn't looked at the holding company on the Singapore companies house for a while. In particular I don't think last time i looked there was much to see apart from shareholdings.

Why would they not have walked away already? Why carry on bankrolling us for the last year if that’s the case?

 

[Paul Cannell]

Yes. I think that if they were going to walk away because the cash ROI wasn't working, they would have done it before now.

So what's it all about?

 

[MarkG]

Yes. I think that if they were going to walk away because the cash ROI wasn't working, they would have done it before now.

So what's it all about?

Perhaps they are planning for a load of barber shops and nail salons around the ground?

Presumably they think they can still get a good return / have a successful club even on the small triangle.

I wonder if they may be in cahoots with Kassam as it would suit him very much to realise the land value at Grenoble Road.
[see latest stadium accounts with valuation as investment property, and transfer of car parks to a different company]
To achieve this needs the club out and at a new ground, so the back story of "renewal of lease is not a possibility" perhaps works for everyone, and there is perhaps an agreement to share the land value from Grenoble Road?

Anyway, the shareholding in Oxford Investment Holding haven't changed, and the last set of accounts filed were at Dec 2021, so are from before the Indonesian takeover, and I'm not going to pay to see if there are any notes on who is owed money that out of date.

 

[Paul Cannell]

Erm, well. I wasn't suggesting anything of that nature, Mark.

The main owners' families are very close to the Indonesian government so maybe there's a political aspect. Raising Indonesia's profile and all that. Is Benny Wenda still an Oxford resident?

 

[MarkG]

Erm, well. I wasn't suggesting anything of that nature, Mark.

The main owners' families are very close to the Indonesian government so maybe there's a political aspect. Raising Indonesia's profile and all that. Is Benny Wenda still an Oxford resident?

Good point.
When a club gets taken over i have to wonder what the new owner is in it for?
Land grab?
Train set?
Etc.

 

[MarkG]

Spending £100M on a stadium isn’t going to be covered by any deal with Kassam. Puts that theory to bed.

 

[Foley]

My concern is that our currrent ownership group were convinced that the Stratfield Brake would go ahead with all of the surrounding hotels, the leisure facilities and ice rink for them to make some money. They then found out that what would be easily done in the far East was not so easy in England, and now find themselves offered the Triangle on a long lease and all the conditions attached. Would be very easy for them to walk away.

Back to your question, I havn't looked at the holding company on the Singapore companies house for a while. In particular I don't think last time i looked there was much to see apart from shareholdings.

They must have spent £m's already and if they were to pull out, presumably it wouof have been shortly after SB fell through?

 

[MarkG]

Petitions to Wind Up (Companies)

In the HIGH COURT OF JUSTICE

BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES INSOLVENCY AND COMPANIES LIST (ChD) No CR-2024-001132 of 2024

In the Matter of SOUTHEND UNITED FOOTBALL CLUB LIMITED (THE)

(Company Number 00089767)

and in the Matter of the INSOLVENCY ACT 1986

A petition to wind-up the above-named Company with company registered number 00089767 and registered office address of 2nd Floor 4 Beaconsfield Road, St. Albans, Hertfordshire, United Kingdom, AL1 3RD was presented on 23 February 2024 by STEWARTS LAW LLP of 5 New Street Square, London, EC4A 3BF claiming to be a creditor of the Company shall be heard at The Rolls Building, London, EC4A 1NL on:

Date: 17 April 2024

 

[Marked Ox]

Petitions to Wind Up (Companies)

In the HIGH COURT OF JUSTICE

BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES INSOLVENCY AND COMPANIES LIST (ChD) No CR-2024-001132 of 2024

In the Matter of SOUTHEND UNITED FOOTBALL CLUB LIMITED (THE)

(Company Number 00089767)

and in the Matter of the INSOLVENCY ACT 1986

A petition to wind-up the above-named Company with company registered number 00089767 and registered office address of 2nd Floor 4 Beaconsfield Road, St. Albans, Hertfordshire, United Kingdom, AL1 3RD was presented on 23 February 2024 by STEWARTS LAW LLP of 5 New Street Square, London, EC4A 3BF claiming to be a creditor of the Company shall be heard at The Rolls Building, London, EC4A 1NL on:

Date: 17 April 2024

Ron Martin's finance partner is a delay in it going through as they have to agree and the Council is still doing its due diligence. A creditor isn't happy with the delayed process. The consortium trying to buy them isn't prepared to pay historical debts until the takeover goes through.

 

[Essexyellows]

Wonder if the steel for Fossetts Farm is still stashed in a yard? Must have been there 20+ years, probably rotten by now.

 

[MarkG]

a few weeks old, but

Appointment of Administrators
In the Business adn Property Courts in Bristol
Insolvency and Companies List (ChD) No CR2024-BRS-000017
TORQUAY UNITED ASSOCIATION FOOTBALL CLUB LIMITED (THE)
5 April 2024