Cork Winding up Notice?

[chippie0001]

Just got a call saying that it will be in the papers tomorrow that the Revenue have served a winding up notice on Cork City? Anyone hear anything about this, true/false etc?

[LeixlipRed]

Have a feeling the Cork lads are going to bite your head off for starting this thread

[CollegeTillIDie]

So called Big clubs being maladministered... are there any of you lot that are well run?

[Philo]

Have a feeling the Cork lads are going to bite your head off for starting this thread

Got a text (probably from same source) saying just that. This source has always been correct in the past. Without a ground to sell Cork could be in a spot of bother if true. Let's see how much influence Colly O'Brien really has at Merrion Sq!

[Risteard]

Notice has been given alright but i don't think its happened yet.
Not with me anyway.:p

[dcfcsteve]

So called Big clubs being maladministered... are there any of you lot that are well run?

Yes..

[Celdrog]

So called Big clubs being maladministered... are there any of you lot that are well run?

Yes ...

[chippie0001]

Are they ironic yes's. It wasn't that long ago that Roddy was auctioning Steve Collins's gloves to help Derry pay their debts and that Drogs had a transfer embargo on them until they paid a bond over due to debts.

[Celdrog]

Are they ironic yes's. It wasn't that long ago that Roddy was auctioning Steve Collins's gloves to help Derry pay their debts and that Drogs had a transfer embargo on them until they paid a bond over due to debts.

It wasn't too long ago that Bohs were challenging for and winning trophies.:eek:
Times change you know. Clubs can and do get their act together., some can even do it on the pitch as well as off:p

Where is the source for the Cork thing?

[CollegeTillIDie]

Derry and Drogheda have both come close to going bust during the past 20 years as have Cork come to think of it!

[pete]

Are you sure this winding up notice isn't a wind up? I believe there were statements by the Chairman in the last few months detailing how much we paying in tax.

[Risteard]

The thread title was a temptation too far i'd say.

[micls]

Just got a call saying that it will be in the papers tomorrow that the Revenue have served a winding up notice on Cork City? Anyone hear anything about this, true/false etc?
If its gonna be in the papers tomorrow would it not have made more sense to wait til then to make the thread. Then you could answer your own questions.....

Doesn't bother me personally but would save the hassle like

[bohs til i die]

I hear that it will be in the Sunday Business Post this weekend.

[micls]

I hear that it will be in the Sunday Business Post this weekend.

Ye all hearing this from the same source.....

[bohs til i die]

yes we are and to be honest I'd be surprised if it is not true

[bohs til i die]

This was posted by smidge on the forum on the Cork official website on June 20th.


************************************************** ******

Lads

One of my mates living in Limerick was having a discussion with a member of the Revenue Commissioners, who passed a comment that Cork City were in difficulty with them and that the some was in the region of €400K. He also said that this news would probably break in a couple of weeks.

Have any of you heard anything to this affect?. I hope to God that it's not true, this is the last thing we need, although it would explain a lot in terms of the non signing of new players etc.

But if it's true and given a some of €400K, where the fcuk has the money been spent from the Setanta Cup, League win, Doyle & Long's transfers, UEFA Cup money last year. Our wage bills are not that big.

As I said at the start this is not officially confirmed but given that it came from the Rev comms Office, you'd begin to wonder. I hope though that in a couple of weeks ye'll be able to say g'wan ya langer Smidge sure there's no bother biy!

Moderation :

Provide a link to the post ASAP

[Anto McC]

I hope it's not true,it's a shame to see any club in serious money trouble!!

[Vitruvian Man]

Is it time for the Shels fans to dig up all the old Cork fans posts from when the Reds were in trouble with the tax man.

[Pablo]

lads, knowing how frustratingly conservative our chairman is with the finances its extremly unlikely.

add up the 800K in prize oney the last 2 seasons and the leagues richest sponsorship deal combined with this conservative spending policy and its not likely.

At our recent fans forum BL said that in the 7 weeks since we had a home game over the break the wage bill plus tax contributions was €197,000. Make of that what you will.

[pete]

I don't think city fans were laughing at shels or anything - it was more the head in the sand attitude of the shels fans that we laughed at.

I'd be very surprised if this going to happen as i've heard many of these types of rumours from reliable sources.

Lets face it - not too difficult to start a decent rumour in the eL.

If CCFC had a 400k tax bill our conservative chairman would be highlighting this & ensure no money spend on transfer fees.

[LeixlipRed]

I hope it's not true,it's a shame to see any club in serious money trouble!!

I'll second that. Of course when that club is Shels its a whole different story!!

[pete]

I would think at worse this just a story in the paper saying CCFC owe 400k. A winding up order would only be made if CCFC couldn't make its repayements - then again they've just come off a 7 week zero income period...

[A face]

Is it time for the Shels fans to dig up all the old Cork fans posts from when the Reds were in trouble with the tax man.

Knowing you are a Bohs fan .... are you looking to cause trouble, what is the motive of your post?

[A face]

Lads ... 400k ..... where from??


Think about it .... try and add it up.


To say there is 400k unpaid tax, that would mean there were several years of tax unpaid and/or huge expenditure within the club.


I think people should really be sitting back here and using a bit of common sense. Who started this thread? Has one source be identified or confirmed (barr the stories like "some guy in a pub told me")

[A face]

I'll second that. Of course when that club is Shels its a whole different story!!

Did you take note of the people who were involved in the "whole different story" at that time ??

[LeixlipRed]

Did you take note of the people who were involved in the "whole different story" at that time ??

How do you mean? The people within shels that were involved or the people who wished non existance upon us?

[A face]

Just got a call saying that it will be in the papers tomorrow that the Revenue have served a winding up notice on Cork City? Anyone hear anything about this, true/false etc?

If a paper is actually going to print the words "winding up notice" and there is actually isn't one, are they leaving themselves wide open legally.

[A face]

How do you mean? The people within shels that were involved or the people who wished non existance upon us?

I didn't witness/wasnt involved in the whole thing so i'm not on about within Shels. I'm on about people sitting on the fence, opportunities wading in hoping to cause trouble and no where to be seen in the cold light of day.

[pete]

How far back would the Revenue Commissioners go? The current CCFC company probably going for 7-8 years or similar...

Its likely every club has a tax bill as the standard PFAI contract has players paid net of tax.

[LeixlipRed]

I didn't witness/wasnt involved in the whole thing so i'm not on about within Shels. I'm on about people sitting on the fence, opportunities wading in hoping to cause trouble and no where to be seen in the cold light of day.

I'm still not exactly sure what you're on about due to the fact im extremeley tired but if you're suggeting im wading in to cause trouble or incite the people who slagged off shels in the past i'm not trying to do so

[A face]

I'm still not exactly sure what you're on about due to the fact im extremeley tired but if you're suggeting im wading in to cause trouble or incite the people who slagged off shels in the past i'm not trying to do so

No i'm saying that others were .... i'm saying that people who wait in the wings and come out to dig the knife in at the possiblity of trouble for Shels, they are the people i'm trying to highlight.

[higgins]

Funny how things end up isnt it :eek:

as for starting rumours without facts!!!
Take a look at half the threads on the board, well take a look at half the Shels threads anyway.

You must know by now Bohs and Rovers fans are joined at the hip with the tax man and anything he does they know about. Now who at Bohs would know anything about tax issues !!!! ;)

You must also know by now that no shels fans care about their club and its just out of the pure goodness and concern that all those Cark Bozos Students and Shams have that made them laughed at us.

OOOOOOOOOOOOOO!!
I hear George and Fenn have signed for Drogheda :eek:
and Rico is the new manager of Bohs

oh and two more of the players walked and emmmmmmmm I'll draem up some other trash tonight and get back to you.

[LeixlipRed]

No i'm saying that others were .... i'm saying that people who wait in the wings and come out to dig the knife in at the possiblity of trouble for Shels, they are the people i'm trying to highlight.

No doubt they'll be here tomorrow to bury the knife into Cork too. Hopefully there's no truth in this story and Cork will continue on top of the league. Until we play our games in hand that is :D

[daniel]

i dont no whether this is true, i certainly hope no though, we in Derry no what it is like, and its scary and unfortunate for the club, fans and league in general!

[dcfcsteve]

Derry and Drogheda have both come close to going bust during the past 20 years as have Cork come to think of it!

That wasn't your question. Move the goalposts if you want mid-game - otherwise, sort your story out up-front...... :rolleyes:

[dcfcsteve]

This was posted by smidge on the forum on the Cork official website on June 20th.


************************************************** ******

Lads

One of my mates living in Limerick was having a discussion with a member of the Revenue Commissioners, who passed a comment that Cork City were in difficulty with them and that the some was in the region of €400K. He also said that this news would probably break in a couple of weeks.

Have any of you heard anything to this affect?. I hope to God that it's not true, this is the last thing we need, although it would explain a lot in terms of the non signing of new players etc.

But if it's true and given a some of €400K, where the fcuk has the money been spent from the Setanta Cup, League win, Doyle & Long's transfers, UEFA Cup money last year. Our wage bills are not that big.

As I said at the start this is not officially confirmed but given that it came from the Rev comms Office, you'd begin to wonder. I hope though that in a couple of weeks ye'll be able to say g'wan ya langer Smidge sure there's no bother biy!

Moderation :

Provide a link to the post ASAP

What the feck's a "some" when it's at home....?? :confused:

[soccerc]

THE HIGH COURT 2006 No. 222 COS IN THE MATTER OF CORK CITY INVESTMENT FC LTD. AND IN THE MATTER OF THE COMPANIES ACTS, 1963-2003 NOTICE is hereby given that a Petition for the winding-up of the above-named company by the High Court was on the 21st day of June, 2006, presented to the High Court by Gerard Harrahill, Collector General, Sarsfield House, Francis Street, Limerick, a creditor of the above-named company, and that the said Petition is directed to be heard before the High Court on the 17th day of July, 2006, and that any creditor or contributory of the said company who wishes to support or oppose the making of an Order on the said Petition may appear at the time of hearing by himself or his Counsel for that purpose and a copy of the Petition will be furnished to any creditor or contributory of the said company who requires it by the undersigned on payment of the regulated charge of the same. FRANCES COOKE, REVENUE SOLICITOR, DUBLIN CASTLE, DUBLIN 2. Solicitor for the Petitioner. NOTE: Any person who intends to appear at the hearing of the said Petition must serve on or send by post to the above-named Petitioner or his Solicitor notice in writing of his intention to do so. The notice must state the name and address of the person or, if a firm, the name and address of the firm, and must be signed by the person or firm, or his or their Solicitor, (if any), and must be served, or, if posted, must be sent by post in sufficient time to reach the above-named Solicitor or the Petitioner not later than 5 o'clock in the afternoon of the 14th day of July, 2006. </B></B>

[bohs til i die]

http://corkcityfc.ie/forums/index.php?showtopic=10948

[bohs til i die]

You must know by now Bohs and Rovers fans are joined at the hip with the tax man and anything he does they know about. Now who at Bohs would know anything about tax issues !!!! ;)


higgins

my source on this is a journalist. I then forwarded the info onto Chippie/Philo.

The notice, which soccerc has listed above will be in the notices section of the papers, it wont be a story as such, like the way the winding uporder against Accolade was listed.

This Cork debt probably goes back several years. Winning the league in this country doesnt come cheap, so maybe the conservative spending policy in recent times on your squad would suggest that finances arent as great as you all like to think they are.



sduffy
Clubs can have an agreed payment plan with the revenue and so long as those payments are made then the revenue will issue a TCC which is valid. It is not up to the licence committee to decide if its valid or not because you have tax debt.

The revenue will have tken this action as a result of defaults on repayments. Cork are the latest on the hit-list. I am told two other clubs are going to hit trouble before the end of the year.



A Face
soccerc has posted the notice that I was told last night would appear in tomorrow's Sunday Business Post. I assume soccerc has taken it from the Indo website

http://www.loadza.com/search.php?keyword=cork+city&category=Notices

[Terry]

I am told two other clubs are going to hit trouble before the end of the year.



was just informed that Athlone are also in trouble:confused: :(

[Dodge]

LOFL!!!

I think you need one of these to get into Delaney's SuperPremiraSerieBundesliga

[Battery Rover]

was just informed that Athlone are also in trouble:confused: :(


Informed by what source?

Haven't heard anything about that as yet. But we have been in trouble financially for years, thus the reason this season to go virtually all local and west of the Shannon.

If it is us these would go back years when we had a team of Dublin mercenaries playing for the team with no pride in the club.

Luckilly enough we have completely restructured this year with a team of big businessmen at the top executive table.

[A face]

higgins
A Face
soccerc has posted the notice that I was told last night would appear in tomorrow's Sunday Business Post. I assume soccerc has taken it from the Indo website

http://www.loadza.com/search.php?keyword=cork+city&category=Notices

Yeah, no worries fella. Just didn't want this to blow out of proportion without a source.

[A face]

was just informed that Athlone are also in trouble:confused: :(

Terry ... what is the source ??



Moderation :

People, can you quote sources when adding anything to this. If not we'll have to delete the posts.

[Anto McC]

Moderation :

People, can you quote sources when adding anything to this. If not we'll have to delete the posts.

Can you go over to the Shels forum and post this up in thread entitled "muppet Fenlon to play for a draw with 4-5-1" please!

[Student Mullet]

Cork didn't have a program for this weekend's game.

There's an article in the SBP about it. Says the debt is 160,000 or something like that and quotes Lennox as saying that it's an historical debt from a while back and will be paid in two weeks.

[pineapple stu]

Cork didn't have a program for this weekend's game.

There's an article in the SBP about it. Says the debt is 160,000 or something like that and quotes Lennox as saying that it's an historical debt from a while back and will be paid in two weeks.


Brian Lennox, Cork City's chairman, said that the debt would be paid in the next two weeks and insisted the club would not be wound up.
[...]
"A lot of it goes back to the bad old days when most clubs did not maintain proper books", he said. "There were some problems over historic PAYE and PRSI payments and we are trying to sort it all out."
Representatives of the club met Revenue officials in recent weeks in an effort to resolve the issue. However, no agreement was brokered, prompting Revenue to issue the petition.
[...]
According to its most recent accounts, Cork City Investment FC had retained losses of €140,000 at the end of 2004 after making a loss of €66,000 during the year.
I think what would sort all these problems out is a new league where small clubs and clubs from areas where there's already other clubs should be kicked out of the Premier Division. That would make everything better. Or else point out what a sham (a) FAI Licencing, (b) the new FAI league and (c) the FAI in general are. The league seriously needs strict financial control - all clubs to get back to solvent status and stay that way under penalty of at least a points deduction and at most relegation. If this means most clubs taking backwards steps akin to Waterford (who made a profit in their last accounts), then so be it. We are currently living in a state of delusion about how good our league really is - it's like saying Ireland had a strong economy in the early 80s.

From looking at club accounts (and I mentioned that Cork might have problems on their forum a couple of months back), Pat's (owe E228,000) and Dublin City (owe E70,000) probably should be nervous. Bohs (owe E460,000) already had issues with Revenue, I think? Either way, they'll be OK once the E2m comes in (when does this happen, incidentally?)

Incidentally, I wonder is there an apology coming from those who dismissed this thread as doom mongering?

[Gareth]

What amazes me is the fatc that the same, and I mean exact same, thread but relating to Shels on this site spawned tons of pages, threads opening up everywhere and general comment on how Shels were mismanaging when compared to the rest of the league. How with this news, but with Cork, we have 3 pages. Shels fans were accused of heads in the sand as well so I expect Cork fans to match down to Turners Cross and protest etc etc. Like what us Shels fans failed to do???

Next time don't throw stones in glass houses....

I do hope Cork sort it all out though , and I am sure they will get all our support!!! None of this hoping they go under. Benefits none of us.

[TheOwl]

Good luck to Cork in sorting all this out - I have no doubt you will.