Petition to wind up Accolade (Shels)

[chippie0001]

In the Irish time today, page 33, there is a legal notice that the revenue commissioners have petitioned to wind up Accolade Ltd. Now Accolade did trade as Shels, have no idea if it does. But up to 2 years ago players were payed from Accolade and the P.35's returned as employees. Now we hear the revenue are winding them up for non payment. What are the FAI and league going to do about this?

[Block G Raptor]

Interesting ??

[Dodge]

Still is (http://www.cro.ie/search/submissionse.asp?number=106863&BI=C)

[Block G Raptor]

Ive googled for this but cant find any reffeerence to a company in ireland called Acolade never mind any links to Shels
if however it is true then if the FAIlures try to sweep it under the carpet may be we should go public !!!

[chippie0001]

Still is (http://www.cro.ie/search/submissionse.asp?number=106863&BI=C)
Well if it still is then they have to do something about it. And this is the club the FAI want us to share Dalymount with :rolleyes:

[Peadar]

Ive googled for this but cant find any reffeerence to a company in ireland called Acolade never mind any links to Shels...

Perhaps if you tried "Accolade" you'd have had some chance.

According to this (http://www.entemp.ie/publications/labour/2006/companiestodate.xls), Accolade Limited, Trading As Shelbourne Football Club, have renewed one work permit this year so they're still tied to each other.

[Vitruvian Man]

We Bohs fans seem to have a higher proportion of financial conspiracy theorists than any other club. It will be interesting to see if Dalaney dumps his best buddies over this.

On a slightly related note… I have it from an absolutely unimpeachable source that the top brass in Shelbourne are worried about what Drogheda pay their players and accuse them (Drogs) of the kind of financial shenanigans that were always alleged about Shels themselves.

[ThatGuy]

Fantastic!

[chippie0001]

We Bohs fans seem to have a higher proportion of financial conspiracy theorists than any other club. It will be interesting to see if Dalaney dumps his best buddies over this.
.
This is hardly a theory, they were in court 3 days ago and will be back in court again. Accolade is/was Shels again not a theory. All in all will be interesting and a good laugh. Maybe we were not all wrong that Shels did not pay tax, now here comes to tax man winding them up :D

[Vitruvian Man]

Yeah, conspiracy theory is not quite the right words I was looking for.

I wonder will this clear the way for Shels to do a Rovers and welch out of all but 4% of their debts - considering Shels are soon to have no ground anymore.

In a season with no relegation - it's is the time to do it.

[Macy]

The only way Shels could do a Rovers is if they have already sold the lease and spent all the money. Rovers were going to the table with no assets - hence they got away with it.

Something for Bohs fans to consider - a year down the line, with Shels co-owners of Dalyer, it'd be your ground that revenue would be after.

[Schumi]

I wonder will this clear the way for Shels to do a Rovers and welch out of all but 4% of their debts - considering Shels are soon to have no ground anymore.
They'd lose all the money they have/will get from the sale of their lease if they go down that road so the plan of paying Bohs for half of Dalymount would be off.

[DruggyDrog]

We Bohs fans seem to have a higher proportion of financial conspiracy theorists than any other club. It will be interesting to see if Dalaney dumps his best buddies over this.

On a slightly related note… I have it from an absolutely unimpeachable source that the top brass in Shelbourne are worried about what Drogheda pay their players and accuse them (Drogs) of the kind of financial shenanigans that were always alleged about Shels themselves.

Thats cos it was the only way Oily could keep paying what he was paying. Other more competent and professional business people prefer to do things legally and above board

[ThatGuy]

It is amazing that the 4th most popular football club in a city where live football isn't popular can afford to take a player like Glen Crowe away from a club like Bohemians and pay such money.

Looks like they are finally being found out.

I am Delighted with a captial D. Brilliant brilliant brilliant news.

[Dodge]

Something for Bohs fans to consider - a year down the line, with Shels co-owners of Dalyer, it'd be your ground that revenue would be after.
Was thnking that myself.

[dcfcsteve]

Something for Bohs fans to consider - a year down the line, with Shels co-owners of Dalyer, it'd be your ground that revenue would be after.

That's a good point. Although by putting money into Dalymount Shels would rightly be buying a share in it, if they fecked around with their finances you could find your own ground at-risk at some point as a result. Even though their finances are outside your control

Best solution I can think of would be to have the ground separated off legally as a separate Limited company, with Bohs and Shels equal share-holders in it. Alternatively, If I was Bohs I'd sell no more than a 49% share in Dalyer to anyone...

[Dodge]

Yeah but if Shels ahve shares in the ground, it will still be treated as an asset (in terms of recovering revunue's money)

[sonofstan]

would rather groundshare with the revenue than with Shels - take the point though; if the revenue seized whatever Shels interest in Dalymount turned out to be, we could end up with an aggressive non- football intersted co- owner, since they would presumably sell it on to realise whatever Shels owe them.

[Peadar]

Yeah but if Shels ahve shares in the ground, it will still be treated as an asset (in terms of recovering revunue's money)

So you're saying we could see the Revenue Commissioners having a corporate box in Dalyer someday? :D

[green-blood]

hold on rovers/branvard went into examinership, branvard continues to bea trading company and continues to be listed on the CRO.

Shels are doing the scummy thing and dumping an indebted company and I assume setting up another with a clean slate to continue trading as Shelbourne FC

Now the licencing rules were changed last year following our examinership. if the commpany name that applied for a licence is wound up you surrender your licence!! So 1 of 2 things can have happened.

They leave the league as they have no licence.

They aplied for the licence under a different company name, which begs the question what did they do with the records of Accolade. And with which company is the foreign player needing a work permit tied to. if he is tied to Accolade he cannot play for Shels as Accolade dont hold an FAI licence??

The plot thickens. Have Shels and illegally signed player????

[SeanDrog]

I think our directors should look at this very closely after what happened with us with hinge trading - had to pay off all debt within a week (over 100K) banned from signing players, threatened with explusion / points deductions. Had to reinstate the company and pay all tax - now it was pure pain at the time and we are all the stronger for it but if shels are doing something similar then they should be treated the same as the drogs.

[dcfcsteve]

Yeah but if Shels ahve shares in the ground, it will still be treated as an asset (in terms of recovering revunue's money)

As long as it wasn't a majority/controlling share (i.e. less than 51%) it wouldn't matter. They couldn't force their views upon the rest of the shaerholders - particularly if the other shares were held in a block by Bohs.

[pete]

Now the licencing rules were changed last year following our examinership. if the commpany name that applied for a licence is wound up you surrender your licence!! So 1 of 2 things can have happened.

They leave the league as they have no licence.


I don't know the specific rules but this must have implications for Shels club licence. As you say the licence must be issued against a company so when that company ceases to exist then what happens the licence? Somehow I don't think someone like Athlone or Monaghan would get away with this? Shels need a Uefa licence so does this mean will have 2 licences under 2 different companies?

[Dodge]

And with which company is the foreign player needing a work permit tied to. if he is tied to Accolade he cannot play for Shels as Accolade dont hold an FAI licence??

The plot thickens. Have Shels and illegally signed player????

No the two have nothing to do with each other. He's being paid by Accolade t/a Shelbourne FC and happens to play for Shelbourne FC.

The league/FAI do not require players to be employees of the clubs.

[OneRedArmy]

This is so funny I think I've just wet myself.............:D

I would have hoped that some of the Shels fans active on foot.ie could have cleared up this "misunderstanding". Is there anyone out there? ..........or are they all locked in a room with the dark lord Ollie agreeing a common response?

"Nothing to see here, move along now" etc.

[Dodge]

What we know anyway, we're all just jealous

[chippie0001]

This is so funny I think I've just wet myself.............:D

I would have hoped that some of the Shels fans active on foot.ie could have cleared up this "misunderstanding". Is there anyone out there? ..........or are they all locked in a room with the dark lord Ollie agreeing a common response?

"Nothing to see here, move along now" etc.
Well they do say good things come to those that wait. How did Ollie have a tax clearance cert only 2 months ago if the revenue are now bringing them to court to wind them up. Makes no sense at all.

[WeAreRovers]

Hold on a bleedin' minute, we never "welched" on anything or "got away with" anything. What we did was above board and legal. What Shels are doing or attempting to do is the exact opposite.

We were punished for working with the Revenue, will Shels be punished for trying to hoodwink them? Will they fcuk.

BTW where's all the Shels fans on this thread? That's a lot of heads buried in the Tolka Park sand.

KOH

[Peadar]

The league/FAI do not require players to be employees of the clubs.

What happens to his work permit if the company holding it fold?

[chippie0001]

BTW where's all the Shels fans on this thread? That's a lot of heads buried in the Tolka Park sand.

KOH
Where are they here, there is a 2 post thread on their MB about it. Any other club that heard they were being wound up by the revenue would be going crazy, Shels just have complete faith in Ollie.

[pete]

What happens to his work permit if the company holding it fold?

I would think could reapply to "new" company?

[Raheny Red]

I don't know anything about this so I can't coment on it! ;)

[sfc red]

It is amazing that the 4th most popular football club in a city where live football isn't popular can afford to take a player like Glen Crowe away from a club like Bohemians and pay such money.

Looks like they are finally being found out.

I am Delighted with a captial D. Brilliant brilliant brilliant news.

Foot.ie....threads...attendances 2005....shels higher than pats bohs rovers....

[sfc red]

Shels to make official statement tonight

[sonofstan]

Foot.ie....threads...attendances 2005....shels higher than pats bohs rovers....
PREMIER
Bohs 1976 (2340) (missing Pat's)
Bray 1550 (818)
Cork 3641 (4033)
Derry 2698 (1672)
Drogheda 1682 (1554)
Harps 1347 (1106) (missing Shels and Rovers 2)
Longford 1004 (1131)
Pat's 1599 (1882)
Rovers 1539 (1349)
Shels 1949 (2158)
UCD 653 (306)
Waterford 1513 (1753)
that's Stu's final table from last year - higher than pats and rovers but still behind us - by 27

[sfc red]

Last time I looked, yours was lower and had an extra game missing. But 27 people? You could have easily lost that in the last game,

As for Shels fans having their heads in the sand, its the last thing you could accuse us of. Look at all the threads on Shelsweb berating our fans in Bray and Linfield and the desire to see an official stance made.

Glad to see the Bohs, Rovers and Pats fans getting so happy about SOMETHING during a season :rolleyes:

You're just not big time any more.

[SeanDrog]

Shels to make official statement tonight


here we go - this will be interesting.

[pineapple stu]

Who cares about their crowds?! It's what they do with the money that's important! Talk about going off topic!!

For those who haven't seen it, it's a winding-up petition from Revenue. I don't think football clubs are registered for VAT, and there wouldn't be any Corporation Tax issues normally, so it has to be PAYE/PRSI they owe. And lots of it. They're in serious trouble. Hearding in the High Court on 3rd April. They do trade as Accolade (I downloaded their accounts only two days ago! They take an exemption from filing the body of the accounts though; they just show the Auditors' Report). There is a company "Shelbourne FC Limited", but they're dormant. Only other company with Ollie as a director is Centime Ltd.

Couple of major issues -

1) The Bohs groundshare is now off, if it weren't so before. No way in hell are Bohs going to undersell half their ground to such an obviously badly run club.
2) UEFA Licencing fails the league again. Delaney should resign over this. How can the club get a licence one month and be wound up the next?! And not only that, but Delaney has been in discussions with Ollie about the groundsharing, so must have known what was going on. A pure and utter disgrace.
3) If Shels go out of business before June (don't know whether that'll happen or not), it's one less voice for franchise football based on geography, history and marketability.
4) Whels have to be punished for this (if they stay in business). 9 points is the absolute minimum, given that this is more serious than Rovers. Relegation (if not expulsion) is the only thing that makes sense though according to the FAI's own rules.

De-f*cking-lighted. Couldn't have happened to a bigger pr!ck. (Apologies for the language. Only words I can find to sum up my emotions at the moment).

By the way - superb spot chippie.

[Macy]

As for Shels fans having their heads in the sand, its the last thing you could accuse us of. Look at all the threads on Shelsweb berating our fans in Bray and Linfield and the desire to see an official stance made.
Yeah, coming on a thread about your club going out of business and trying to make it about attendances is proper realism.

[Vitruvian Man]

Funny I was just hearing through the grapevine that the Bohs board were starting to distance themselves from the ground deal with Shelbourne. It always seemed that Shels were anxious to close this groundshare deal sooner rather than later. I wonder now if the cooling of Bohs ardour has more to do with this news than the rather poor terms that were on offer to the big club.

So a deal which was already a dead duck with the members has now been served with a plum sauce, eaten by a large fat man, passed comfortably, flushed and was last seen floating serenely away with a rat on top of it.

[Poor Student]

Dear Fintan Cassidy,
I extend a personal invitation to you, a man associated with one of Ireland's most prestigous and prominent clubs, to come forth and offer yours views on this topic.

Thank you.

[The Sheliban]

Yes, youse are all right, as you were all along.
Doesn't seem any point in continuing now, 111 years come to an inglorious end. Sad, but that's life.
Can we come and support Cork, or maybe Bohs, now we won't have anything to do on Friday nights?

[max power]

**** all. There won't even be a scandal, and if there is Shels will be let off. They won't be docked 8 points thats for sure.

or a free ground paid for by the tax payers:rolleyes:

[WeAreRovers]

You're just not big time any more.

Oh sweet Jesus, is that all you can come up with? Over the last year we have saved our club and it took blood, sweat and tears not to mention hundreds of thousands of euros. It was painful but not as painful as the previous 2 decades. You should be learning lessons from happened to us.

Now Bohs are about to put up an almighty fight for their club's future as are Pats. And I wish both of them well. All you lot can do is gloat when you are in no position to do so.

Wake up Shels fans.

KOH

[sfc red]

Macy I responded to a jibe about attendance you gobsh!te!!!!!

[pineapple stu]

Another thought -

If Revenue are bringing this petition (as they clearly are) it hints very strongly that the company is seriously insolvent. It also hints that Ollie (director) continued to trade while insolvent. This is an indictable offence under the Companies Acts and could well lead to him being banned from acting as a company director for a period (could even lead to a jail term if it's bad enough, but that sounds unlikely given the company was solvent up to May 04 according to the Auditors' Report). If Shels, in the worst case scenario, do go bankrupt, I'd say Ollie won't be allowed near them if they reform and take their own place in the league (probably elected to the Premier on marketability grounds:rolleyes: ).

[Block G Raptor]

Funny I was just hearing through the grapevine that the Bohs board were starting to distance themselves from the ground deal with Shelbourne. It always seemed that Shels were anxious to close this groundshare deal sooner rather than later. I wonder now if the cooling of Bohs ardour has more to do with this news than the rather poor terms that were on offer to the big club.

So a deal which was already a dead duck with the members has now been served with a plum sauce, eaten by a large fat man, passed comfortably, flushed and was last seen floating serenely away with a rat on top of it.
POTM............

[Risteard]

Great news as long as they don't go out of existance as such!
Sheliban, you're more than welcome to the Cross.
Sure, drag Ndo and Kearney down with ya!
Jayo should be left to lull over his poor decisions.

[monkey magic]

im just wondering, why, outside of this forum, has this not been mentioned anywhere? are we getting ahead of ourselves here, when rovers hit the rocks it was all over the news, why not so now?? if that petition was published, its not as if it isnt known to at least the paper it was published in...

[Risteard]

Good point monkey magic.
Do this crowd have a little stake in Shels or ARE they Shels?
And if they are, what does that mean?
Ollie and his crew out and a mass sell-off of the squad?