Petition to wind up: Cork City Investment FC Ltd

[tiktok]

"I hopefully don't want to see anything like that happening next week"
Inspiring words from the chairman.

http://www.rte.ie/sport/soccer/2009/0516/corkcity_av.html

[Mr A]

It sounded like he was using the 'We're to important to the community to let go out of business' defence.

The 'It's the examiner's fault' defence seems to have been dispensed with.

[Mr A]

Coughlan confident that Cork will survive. He has stated that it's all down to the fact that the money hasn't come in as fast as expected.

Begs the question as to why the taxman of all people would be the people you don't pay.

[Mr A]

He really didn't answer the question about the cynicism from fans... generally came across well but he just doesn't seem to have answers to the hard questions.

[tiktok]

I thought he did alright in front of the biggest grilling Con Murphy has ever given anyone on MNS.

Coughlan was very downbeat. I've met the man a few times and that was the most subdued I've seen him, he's obviously under pressure. I guess the hope is that the revenue will see Coughlan at CCFC as somewhat of a new entity and can put the previous winding up order under Lennox and the Arkaga era to one side. Certainly worrying times for CCFCthough.

[pete]

I guess the hope is that the revenue will see Coughlan at CCFC as somewhat of a new entity and can put the previous winding up order under Lennox and the Arkaga era to one side. Certainly worrying times for CCFCthough.

If he can convince them they will get their money on a schedule hopefully a deal can be done.

I am worried for the future as to why this can become an issue when we started with a clean slate at the end of last season. We are using up our lives too quickely. :(

[Mr A]

Exactly.. it seems like the old mistakes of hugely over optimistic budgeting have been repeated immediately after examinership. Considering that everyone knew the state of the economy, that's just plain crazy.

[tiktok]

I am worried for the future as to why this can become an issue when we started with a clean slate at the end of last season. We are using up our lives too quickely. :(

I'm not so sure that the slate from last season was all that clean.

[Mr A]

http://i202.photobucket.com/albums/aa212/ccfcforum/echo_19052009.jpg

[pól-dcfc]

Coughlan: The World Economic Crisis is Over

We'll see shortly if he is bluffing. I hope he's not.

[passerrby]

what has the munster senior cup final been played at the cross got to do with cork finance surly that will belong to the MFA

[pineapple stu]

It's a separate news item.

[brianw82]

Any more news on this?

[Redie]

Any more news on this?

Yes..

[eamo1]

Have Cork been relegated yet??:rolleyes:

[micls]

Have Cork been relegated yet??:rolleyes:

For what? I didn't realise a winding up order was against any rule? Never mind saying relegation material

[adamd164]

The word is that Coughlan came to an agreement with the Revenue today and it's settled.

[Umberside]

The word is that Coughlan came to an agreement with the Revenue today and it's settled.

Oh please tell me it's true:o

[sheao]

Oh please tell me it's true:o
Hopefully it is,we are doing great so far this season in the league and it would be shame to shatter that.

[pineapple stu]

You don't see the connection between the two, then?

[tiktok]

Have Cork been relegated yet??:rolleyes:

The issue is our being late paying taxes.

Most clubs in the league [probably bar Shamrock Rovers and Wexford youths] have been guilty of this over recent seasons, it's between the club and the revenue and should only affect our points total or licence were it to mean our tax clearance certificate was revoked.

It's sad when small clubs main hope of hanging onto top flight football is by wishing others go out of business or hit financial difficulties. It must be so hard to be a minnow. :D

[SunnySweeney]

http://www.independent.ie/business/irish/cork-city-fc-owner-must-pay-8364180000-to-creditors-1748865.html

Independent.ie
Cork City FC owner must pay €180,000 to creditors
By Laura Noonan
Saturday May 23 2009

THE owner of embattled Cork City FC, who has just days left to clear the club's €200,000 tax bill, has himself been hit with a €180,000 judgment.

The judgment against property developer Tom Coughlan is listed in this week's issue of debt monitor 'Stubbs Gazette'. It was registered by Dublin firm Clarkson Financial Planning Consultants on May 13.

The circumstances surrounding the judgment remains unclear. Mr Coughlan failed to return several calls to his mobile phone over a two-day period.

Meanwhile, Mr Coughlan has until Monday to come to an arrangement with the taxman over Cork City's €200,000 bill.

Confident

Earlier this week, Mr Coughlan told RTE's 'Monday Night Soccer Show' he was "very confident" that Cork's fans would continue to "have a team to support". "We're in negotiations with the Revenue," he added.

The latest issue of 'Stubbs' also shows a €1.48m judgment against Galway builder Brendan Tuohy, with an address at Moyleen, Loughrea. The judgment was registered by Michael Earls and Maria Earls, both of Ashview House, Bullaun, Loughrea, on May 11.

Other judgments include two €157,000 sums by Dublin-based Grace Park Estates, one against accountant Michael Cremin, of 1 Cherrygarth, Mount Merrion, Co Dublin, and the other against accountant Patrick Cremin, of Apartment 66, Block A2, Littlewood, Bellermine Avenue, Newtown Little, Stepaside, Co Dublin.

- Laura Noonan

[OneRedArmy]

In case anyone is wondering, making it into Stubb's for a charge being registered is pretty serious. It's what happens when every other avenue has been exhausted.

[adamd164]

I'm sure the Derry lads have done their homework on it alright.

[soccerc]

In case anyone is wondering, making it into Stubb's for a charge being registered is pretty serious. It's what happens when every other avenue has been exhausted.

Clarkson Financial eh?

The same Conor Clarkson who tried to acquire development land in Tallaght by investing in Rovers :D

[gufct]

I heard over a month ago that Coughlan has Personal tax Problems with the revenue so if that is true they will not go lightly on him or CCFC.

[OneRedArmy]

I'm sure the Derry lads have done their homework on it alright.Not really, its just part of my job.

Anything constructive to add?

[HarpoJoyce]

In case anyone is wondering, making it into Stubb's for a charge being registered is pretty serious. It's what happens when every other avenue has been exhausted.


Not really, its just part of my job.

Anything constructive to add?

What services/products did Clarkson Financial Planning Consultants provide for Tom Cloughan?
Did CFPC provide that part to Stubbs Gazette?

Stubbs used to be a place for companies who had Bad debts to place their grievances.

Linking Stubbs Gazette with Construction, that's too cool!

[Longfordian]

What services/products did Clarkson Financial Planning Consultants provide for Tom Cloughan?
Did CFPC provide that part to Stubbs Gazette?


I'm sure they provided it to the High Court which is all that matters.

[L.T.F.C.]

They should definately get points deducted...

[sheao]

They should definately get points deducted...
Would be dissapointing if we do as City are looking like genuine title conteders this year. We will know a whole lot more this time tomorrow.

[tiktok]

They should definately get points deducted...

There's absolutely no reason why we should get points deducted at this stage.
Also, Coughlan's personal tax issues will be [and should be] kept completely separate to those Cork City, it's not good news for City supporters that the man bankrolling the club has money worries, but for tomorrow it's irrelevant.

Anyway, we'll know whether CCFC exists anymore in about 13 hours, hearing is at 11am tomorrow morning. I'll be spending the next 7/8 spent trying to sleep and not think about it.

[brianw82]

There's absolutely no reason why we should get points deducted at this stage.
Also, Coughlan's personal tax issues will be [and should be] kept completely separate to those Cork City, it's not good news for City supporters that the man bankrolling the club has money worries, but for tomorrow it's irrelevant.

Anyway, we'll know whether CCFC exists anymore in about 13 hours, hearing is at 11am tomorrow morning. I'll be spending the next 7/8 spent trying to sleep and not think about it.

I'd just like to wish CCFC well tomorrow.

[OneRedArmy]

There's absolutely no reason why we should get points deducted at this stage.
Also, Coughlan's personal tax issues will be [and should be] kept completely separate to those Cork City, it's not good news for City supporters that the man bankrolling the club has money worries, but for tomorrow it's irrelevant.

Anyway, we'll know whether CCFC exists anymore in about 13 hours, hearing is at 11am tomorrow morning. I'll be spending the next 7/8 spent trying to sleep and not think about it.Unfortunately in the absence of other parties willing to invest, his personal situation is absolutely relevant.

[Hairy Bowsie]

I'd just like to wish CCFC well tomorrow.

Go and sh*te. I wish they'd get their house in order, regardles of whether it Coughlan or the club itself. It's not a matter of luck, it's a matter of rules. If they've done things right they won't have a problem, simple as.

And lads this isn't a mud slinging excercise on my part, i don't want you to have luck, i want you to have a competant and finacially viable club as i'm sure you do, so please lets not have this turn into a slagging match.

[brianw82]

Go and sh*te. I wish they'd get their house in order, regardles of whether it Coughlan or the club itself. It's not a matter of luck, it's a matter of rules. If they've done things right they won't have a problem, simple as.

And lads this isn't a mud slinging excercise on my part, i don't want you to have luck, i want you to have a competant and finacially viable club as i'm sure you so please lets not have this turn into a slagging match.

If they've done things right, then they'll be ok.
If they haven't, they'll be wound up.

I'd rather the former.

[Hairy Bowsie]

Yeah but i believe that if they haven't done things right, if they haven't played by the rules then they should be punished for it, whatever the punishment may be. You do the crime and all that. For the sake of the arguement, i don't want them gone either.

[OneRedArmy]

Go and sh*te. I wish they'd get their house in order, regardles of whether it Coughlan or the club itself. It's not a matter of luck, it's a matter of rules. If they've done things right they won't have a problem, simple as.

And lads this isn't a mud slinging excercise on my part, i don't want you to have luck, i want you to have a competant and finacially viable club as i'm sure you so please lets not have this turn into a slagging match.Did your Road to Damascus moment happen before or after Shels imploded?

[Hairy Bowsie]

You know what, i knew it would be a Derry fan who'd jump first.

Careful getting down off your high horse there. I always find it hilarious when the Derry fans (not all it must be said) have this holier then thou attitude when the fact is, I know what Jim Roddy got up too when he was at your club and none of you have a clue.

[OneRedArmy]

You know what, i knew it would be a Derry fan who'd jump first.

Careful getting down off your high horse there. I always find it hilarious when the Derry fans (not all it must be said) have this holier then thou attitude when the fact is, I know what Jim Roddy got up too when he was at your club and none of you have a clue.Statute of limitations has long passed on our last crisis.

Anyway, I wasn't the one demanding Cork be thrown to the dogs. There by the grace of God etc.

So, getting back to your new found love of financial probity, when exactly did it kick in, early 07?

[Hairy Bowsie]

Anyway, I wasn't the one demanding Cork be thrown to the dogs. There by the grace of God etc.

Neither am i. I merely want them punished for the crimes committed, and not just them anyone who breaks the rules should be punished for it.


So, getting back to your new found love of financial probity, when exactly did it kick in, early 07?

Mid 06 actually, it was the first in a string of finacial disasters to hit the league in recent memory. What happened at Shels was right, we broke rules and we were punished for that. Things shouldn't change.

[Celdrog]

I heard over a month ago that Coughlan has Personal tax Problems with the revenue So why was it not posted immediately?:D
You know the rules, anything bad about a rival, particularly financial must be put up straight away. The fact that it appeared to be true is irrelevant.

Anyway - hope it all goes well for Cork today.

[pineapple stu]

Would be dissapointing if we do as City are looking like genuine title conteders this year. We will know a whole lot more this time tomorrow.
Congratulations. Posting the same comment on the same page as where the major flaw in it was highlighted. Well done.

[L.T.F.C.]

I'd just like to wish CCFC well tomorrow.

ah... are you in love or something?

[tiktok]

i don't want you to have luck, i want you to have a competant and finacially viable club as i'm sure you do, so please lets not have this turn into a slagging match.

Unfortunately for the supporters HB, as long as we're owned by people who take huge risks with our future, we'll need that luck. We'd all prefer that we were compliant and sustainable obviously and the day when supporters, through FORAS, own and run the club can't come soon enough.

[pete]

They should definately get points deducted...

Any reason to back that up? I've heard some stupid things here but...

The goal of the wage cap & licencing is to prevent clubs from getting into financial not for leagues to be won in the courts or accountants office.

:rolleyes:

[Hairy Bowsie]

Unfortunately for the supporters HB, as long as we're owned by people who take huge risks with our future, we'll need that luck. We'd all prefer that we were compliant and sustainable obviously and the day when supporters, through FORAS, own and run the club can't come soon enough.

Fair point tiktok. Can anyone hazard a guess at the best and worst outcome of this for Cork?

[pineapple stu]

They'll either be wound up or they'll find the cash and possibly be back in the same spot in a few months time. The latter is more likely going on previous LoI experience.

More pertinently though, when's the case being heard?

[Battery Rover]

More pertinently though, when's the case being heard?


11am today

[Hairy Bowsie]

Case is on as we speak/type then but does anyone have an idea when the news of the outcome will be revealed? I can't stay on the net all day but if i knew a time i'd try and arrange to get back online then.