DaveAV1 Posted July 18, 2018 Share Posted July 18, 2018 HMRC don’t go threatening winding up orders as soon as a firm misses a normal payment date. They start with dropping you a line suggesting you seem to have forgotten something dear to their hearts. Then a more concerned letter etc etc. By this stage they would be expecting you to get back to them and explain what the problem is and what your intentions are to square things up. They will offer you the chance to sort out regular payments etc. All this would happen over a period of time and to get to the threatening winding up I would imagine would be a few months at least. So this isn’t a new thing, they would have known they’re in big trouble for months. They gambled everything on promotion and now it seems that getting promoted would have been enough to dig us out of the immediate mess we’re in, but probably wouldn’t have left any money to strength a squad that would have been inadequate for the Premier League. It wasn’t a roll of the dice to get rich, it was a roll of the dice to survive. A strategy that would probably have given Xia enough wiggle room and time to sell up and pocket a few quid before anyone really understood how bad things are. Crook(s). 1 1 Link to comment Share on other sites More sharing options...
DaveAV1 Posted July 18, 2018 Share Posted July 18, 2018 P.S. If it’s the VAT we owe then that is far, far worse. That particular branch of Her Majesty’s tax gathering gang aren’t as understanding as the rest of them. 1 Link to comment Share on other sites More sharing options...
hooter Posted July 18, 2018 Visiting Supporter Share Posted July 18, 2018 1 minute ago, DaveAV1 said: HMRC don’t go threatening winding up orders as soon as a firm misses a normal payment date. They start with dropping you a line suggesting you seem to have forgotten something dear to their hearts. Then a more concerned letter etc etc. By this stage they would be expecting you to get back to them and explain what the problem is and what your intentions are to square things up. They will offer you the chance to sort out regular payments etc. All this would happen over a period of time and to get to the threatening winding up I would imagine would be a few months at least. So this isn’t a new thing, they would have known they’re in big trouble for months. They gambled everything on promotion and now it seems that getting promoted would have been enough to dig us out of the immediate mess we’re in, but probably wouldn’t have left any money to strength a squad that would have been inadequate for the Premier League. It wasn’t a roll of the dice to get rich, it was a roll of the dice to survive. A strategy that would probably have given Xia enough wiggle room and time to sell up and pocket a few quid before anyone really understood how bad things are. Crook(s). The reason HMRC drove us into admin way back when was they had the arse ache that football debts get preferential treatment over theirs. But bates skittled them, and it never went to court. Similar with Pompey I believe. I don't know if HMRC ever got to make a challenge in court that their debt should rank alongside football debt. You might like to ask your trust to find out. This is the obvious problem if you go into admin. Bates engineered ours, so if he won it his friends in the BVI Krato and Astor "absolved" £37 mill of debt, if he lost admin they didn't. So the word removed got the club back whilst screwing genuine creditors, up to and including St John's Ambulances Where does your debt lie ? All football debt survives admin, so Micah, Ross and the boys get paid regardless. It seems much recent borrowing is against assets ? Well in an admin, the lenders would just take the assets and **** off as I understand it ? There is "no bank debt" which might prove a little dispiriting, as unlike banks, very few shady lenders will have lent money to Xia unsecured. So what debt exactly would you shed in admin ? Genuine question to those who understand it better, from one who saw admin mean an even bigger rinsing ? Link to comment Share on other sites More sharing options...
Reivax_Villa Posted July 18, 2018 Share Posted July 18, 2018 This by far the worse situation this club has been in my lifetime. We have had protest, outrage and news coverage on past situations less worse than this. This chairman is on the brink of ruining our football club without being challenged. I would love for AVST to try instigate a more sensible but aggressive approach to let it be known that we do not want Xia at this club. This is a very worrying time to be a Villa Fan and until he sells, it will get worse. Link to comment Share on other sites More sharing options...
jjaacckk91 Posted July 18, 2018 Share Posted July 18, 2018 Came to the site and saw this, thought oh shit looks like grealish has gone, Turns out I was being optimistic, how on earth can we be losing this much money, this can't be the wage bill alone. The only way I can fathom it is if we still owe everyone for the transfers almost 2 years ago now, but in that case where did all the money from selling the entire PL squad go? There's a giant black hole in this club and something seriously crooked is going on. Link to comment Share on other sites More sharing options...
The Fun Factory Posted July 18, 2018 Share Posted July 18, 2018 (edited) If Xia is to stay he will soon start doing irreversible damage like selling and leasing back the training ground or even Villa Park. For all those penny pinching and careful years Ellis made Villa asset rich- and this will all be stripped if this clown stays on much longer. It is pathetic how badly this club has been run for years. Edited July 18, 2018 by The Fun Factory 1 1 Link to comment Share on other sites More sharing options...
dn1982 Posted July 18, 2018 Share Posted July 18, 2018 30 minutes ago, hooter said: The reason HMRC drove us into admin way back when was they had the arse ache that football debts get preferential treatment over theirs. But bates skittled them, and it never went to court. Similar with Pompey I believe. I don't know if HMRC ever got to make a challenge in court that their debt should rank alongside football debt. You might like to ask your trust to find out. This is the obvious problem if you go into admin. Bates engineered ours, so if he won it his friends in the BVI Krato and Astor "absolved" £37 mill of debt, if he lost admin they didn't. So the word removed got the club back whilst screwing genuine creditors, up to and including St John's Ambulances Where does your debt lie ? All football debt survives admin, so Micah, Ross and the boys get paid regardless. It seems much recent borrowing is against assets ? Well in an admin, the lenders would just take the assets and **** off as I understand it ? There is "no bank debt" which might prove a little dispiriting, as unlike banks, very few shady lenders will have lent money to Xia unsecured. So what debt exactly would you shed in admin ? Genuine question to those who understand it better, from one who saw admin mean an even bigger rinsing ? Don’t think think it’s debt essentially. It’s cash flow. We are running at a loss and Xia hasn’t the funds to keep going. Link to comment Share on other sites More sharing options...
hooter Posted July 18, 2018 Visiting Supporter Share Posted July 18, 2018 4 minutes ago, dn1982 said: Don’t think think it’s debt essentially. It’s cash flow. We are running at a loss and Xia hasn’t the funds to keep going. My point being once we were indebted to HMRC they took the opportunity to drive us into admin to seek a court case to set a precedent fixing HMRC debt alongside football debt. But as a layman, I'd suggest when your cash flow means you can't pay bills falling due, those bills become debt, and when that debt is owed to intolerant creditors..... 2 Link to comment Share on other sites More sharing options...
villan501 Posted July 18, 2018 Share Posted July 18, 2018 (edited) Game over guys and girls. Xia will not sell he will asset strip the club and we will follow the way of Sunderland the difference being Sunderland can come back they had huge debts but kept assets.xia on the other hand is stripping assets and increasing debt I seriously think we will not be the next sunderland but worse still the new age Glasgow rangers this worries me sick. Edited July 18, 2018 by villan501 2 1 Link to comment Share on other sites More sharing options...
OutByEaster? Posted July 18, 2018 Moderator Share Posted July 18, 2018 I would be very interested to hear from Mark McGuinness, a bloke who is actually employed by the club as Tax & Collections Manager. He's still in work. 1 Link to comment Share on other sites More sharing options...
AvfcRigo82 Posted July 18, 2018 Share Posted July 18, 2018 5 minutes ago, OutByEaster? said: I would be very interested to hear from Mark McGuinness, a bloke who is actually employed by the club as Tax & Collections Manager. He's still in work. Incredible how he's not had a mention until now really? Link to comment Share on other sites More sharing options...
Rob182 Posted July 19, 2018 Share Posted July 19, 2018 15 hours ago, AshVilla said: He's run out of gasoline to pour on the already roaring fire. Were well and truly **** now. Ash, if you ever have a fire in your house, don't try to put it out by pouring gasoline on it. 1 3 Link to comment Share on other sites More sharing options...
Tommo_b Posted July 19, 2018 Share Posted July 19, 2018 If we all chip in a tenner that might help. Link to comment Share on other sites More sharing options...
AvfcRigo82 Posted July 19, 2018 Share Posted July 19, 2018 9 minutes ago, Tommo_b said: If we all chip in a tenner that might help. To provide more gasoline? 1 2 Link to comment Share on other sites More sharing options...
VILLAMARV Posted July 20, 2018 Share Posted July 20, 2018 Link to comment Share on other sites More sharing options...
sidcow Posted July 20, 2018 VT Supporter Share Posted July 20, 2018 Nio Link to comment Share on other sites More sharing options...
romavillan Posted July 22, 2018 VT Supporter Share Posted July 22, 2018 /thread Link to comment Share on other sites More sharing options...
hippo Posted June 5, 2019 Author Share Posted June 5, 2019 HMRC threaten us with winding up order for an unpaid tax bill Wyness sacked. I remember thinking a lower half championship finish, might not be too bad in the circumstances - How times have changed !! 3 Link to comment Share on other sites More sharing options...
Teale's 'tache Posted June 5, 2019 Share Posted June 5, 2019 I remember how it felt like selling Grealish was the only thing we could do and even that wouldn't of got us out of the brown stuff, mainly because it seemed like anyone could of pulled our pants down and got him on the dirt cheap. Levy really messed up there... 2 Link to comment Share on other sites More sharing options...
Mark Albrighton Posted June 5, 2019 VT Supporter Share Posted June 5, 2019 So how close were we to going out of business, in one way or another? Was it a matter of days...hours? It was never totally clear to me. Just had a quick flick through the “going under” thread. Not gone through all of it, but the bits I’ve revisited I find that it’s surprisingly upbeat, mainly due to the gallows humour. It’s reassuring to know that when staring into the abyss we can still find some levity on here. Going under thread 2 Link to comment Share on other sites More sharing options...
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