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Villa in trouble...
#31
Off the Twitter -


In pub with Villa fan.....I tell him they are selling Grealish to Albion for £15million....he says "You are winding me up."
I say "No it's HMRC that are winding you up. I'm just taking the piss."
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#32
HMRC don't issue a winding up order on one missed payment. There will have been a history of late, or probably part payments, leaving an accumulating amount owing, month on month. This has probably built up into something substantial and it sounds like Wyness has not told the good Doctor in China.

HMRC usually arrange a schedule of payments consisting of what is due this month, plus an agreed contribution per month to clear the arrears, over say a six month period. My bet is that this was arranged on the quiet, Wyness never told anyone about it, and prayed that promotion and the £170 million that brings would bail him out.

When they lost it almost certainly meant that they could not make the next agreed payment. Fail to do that and HMRC get really pissed off because you have made them look fools, and they come after you all guns blazing. If even half of this theory is correct, HMRC will not easily be placated without a full payment of the arrears.

It could get very messy with a bit of luck.
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#33
They've got assets; somebody will be interested...

[Image: image.jpg]
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#34
[Image: 11lk5s7.jpg]


This is a copy of the lists of companies issued with a winding up order today in the London’s Gazette.
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#35
(06-05-2018, 04:58 PM)KratosBaggie Wrote:
(06-05-2018, 04:38 PM)Kit Kat chunky Wrote:
(06-05-2018, 04:32 PM)Dumbo Wrote:
(06-05-2018, 04:28 PM)Kit Kat chunky Wrote: I don't like to say i told you they were absolutely fucked but..............................

You didn’t, did you....

I so like it when I'm proven to be correct  Big Grin Big Grin Big Grin Big Grin Big Grin Big Grin

Loads of people on Seal Talk blaming Wyness. The fact they haven't got a pot to piss in is clearly his fault. 

How much is Greasly worth now??

They will be a big club in the National League. The Moors would give them a game   Big Grin Big Grin Big Grin Big Grin

Solihull have just lost two fantastic players and lads in Green and Lait to Tamworth. That's a blow for the Moors.

(06-05-2018, 04:46 PM)Kit Kat chunky Wrote:
(06-05-2018, 04:33 PM)baggiemac Wrote: Seems odd suspending the CEO over one missed payment.
There’s got to be more to it surely. Hopefully ?

Well if they missed the payment, HMRC will have reminded them. According to E&S they missed on Friday, and are now threatening winding up. If they had the cash, Wyness would press the button and send it. Problem solved. Sounds like another loan from China, but Xia's companies over there are under scrutiny as well.

There is clearly a massive cashflow issue here. They have collected the majority of their season ticket monies via "early bird", and in the meantime they have to pay out £5M per month in wages. They are losing £800K a week according to some commentators. They have to pay out c£10M inwages before they kick another ball. They will receive a parachute of £15m, but that won't last long.

The only solution is to sell what they have left. Can't see any other way out of it. They did have a £5M overdraft with HSBC. Presume this is fully utilised, otherwise this would have been used to pay VAT??

This sounds like an even bigger shit storm than I ever hoped or dreamed of.

Where is that info taken from?

It takes ages for any company to actually receive a winding up
order that forces liquidation, as alluded to above it's usually an idol threat, done to trigger the debtor into payment. 

They seem to be struggling but I'd be surprised if they entered administration or worse.

You have to petition for the debt if you are owed more than £750 or more (unless the rules have changed). This normally leads to all creditors piling in, and bringing the company down. I would imagine that they are threatening AVFC with petition at the moment. If they couldn't meet the payment then they would apply for Administration to protect themselves from their Creditors.

Don't forget that HMRC like high profile cases like this. You only have to look at the Rangers Tax Case to realise they will pursue people that owe them money - even if there is little chance in them receiving payment. They also voted against a CVA at Portsmouth just to prove a point.

I ask myself why has this been leaked now? It isn't in Villa's interests to mention they are stony broke, so has HMRC leaked this??

(06-05-2018, 05:03 PM)Gewonenzow Wrote:
(06-05-2018, 03:59 PM)Stourbridge Baggie Wrote: Didn't someone on here allude to this on another thread - along the lines of can't reveal but will be Public knowledge shortly?

Yes, I did.

They have another problem to negotiate as well.

Shame, eh? Big Grin

If you are representative of HMRC then you should be banned immediately by Birdy  Big Grin Big Grin
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#36
As I said above, it's the fact that HMRC is no longer a preferential creditor and want to get their beaks in before everybody else in the pecking order if money us owed, hence the aggravated winding-up order tactics.  It's not really they want high-profile cases - such cases are wider news.  The Seals are probably on a time to pay regime with HMRC's Debt Management Unit (DMU) and have defaulted (PAYE? VAT? They have corporate tax losses I believe, so not that).  I often negotiate time to pay arrangements but sometimes the money isn't there and the DMU gives notice to wind up.

This is serious for the Seals.
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#37
Does this mean our only derby next season will be with Blues? That's all I care about.
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#38
(06-05-2018, 05:52 PM)Grrrr Wrote: As I said above, it's the fact that HMRC is no longer a preferential creditor and want to get their beaks in before everybody else in the pecking order if money us owed, hence the aggravated winding-up order tactics.  It's not really they want high-profile cases - such cases are wider news.  The Seals are probably on a time to pay regime with HMRC's Debt Management Unit (DMU) and have defaulted (PAYE? VAT? They have corporate tax losses I believe, so not that).  I often negotiate time to pay arrangements but sometimes the money isn't there and the DMU gives notice to wind up.

This is serious for the Seals.

You obviously know your stuff, and I bow to your greater knowledge.
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#39
Maybe they will be playing against Astonville Residents Association next season.
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#40
That D4 next to their name has a certain appeal in old money terms

Maybe that's where they kick off 2020/21
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