Petition to wind up: Cork City Investment FC Ltd

Johnny Taxman wants us gone.

Is that the current crowd in charge? (Genuine question...)

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Originally Posted by Dodge

Is that the current crowd in charge? (Genuine question...)

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According to our website, Yes.
Bottom of this page.

Got this from the Derry forum

http://www.insolvencyjournal.ie/more...nt_FC_Ltd.aspx

Anyone have any info? What's brought this on?

Probably arkaga

No, that's the trading company. If it's real, it's the same thing that hit Shels a few times in 2006. But Cork also survived a petition in 2006 (Limerick FC didn't).

If it's real, it's not good news. Seems to confirm the problems with Coughlan.

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Originally Posted by centre mid

Probably arkaga

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Don't think so. This is from their site:

Cork City Investments F.C. Limited. Private Limited Company. Registered in Ireland. Registration No: 366256.
Directors: T. Coughlan & A. Traynor. Registered Office: Rushbrooke, Cobh, Co. Cork, Ireland.

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Originally Posted by pól-dcfc

Registered Office: Rushbrooke, Cobh, Co. Cork, Ireland.

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Turncoats!

Think that was highlighted at the time. Nice and amusing!

Real, real shame.

Hopefully they'll pull through

Agreed. But it seems there needs to be fundamental change at Cork or this'll happen again. I think in 2006, once the arrears were paid to Revenue, the petition was withdrawn. Cash has been a problem for Cork of late though, with the rumours of unpaid wages.

Lads, what are the possible outcomes with this petition?

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Originally Posted by pineapple stu

Cash has been a problem for Cork of late though, with the rumours of unpaid wages.

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According to Coughlan and co. wages not being paid at the right time have been the result of "clerical errors".

Doesn`t look optimistic , the Petitioner is the Collector General, though maybe in this climate the Revenue will settle for what they can get. It will still leave Cork in breach of licensing, with a point deduction?

Best of luck with contesting the petition.

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Originally Posted by A face

Lads, what are the possible outcomes with this petition?

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Pay the money, you're grand. Don't pay it, they probably wind the company up, sell the assets and take the cash.

I see the notice before Cork City is Danninger, coincidentally. Which side of the Bohs debacle were they on again?

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Originally Posted by A face

Lads, what are the possible outcomes with this petition?

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I would presume that the club is either wound up, or pays what it owes and is allowed to continue, whether that payment can be made on an instalment basis remains to be seen. I'd say the revenue are getting pretty ****ed of with the LoI at this stage, and obviously need the dough.

How can it all have been sorted with the taxman in Nov (examinship) and now only 7 months later they are after us again. Can they actually do that?

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Originally Posted by pineapple stu

Pay the money, you're grand. Don't pay it, they probably wind the company up, sell the assets and take the cash.

I see the notice before Cork City is Danninger, coincidentally. Which side of the Bohs debacle were they on again?

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They are the ones funding Bohs at the moment, aren't they? Danninger bought the "full" stadium I think.

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Originally Posted by A face

How can it all have been sorted with the taxman in Nov (examinship) and now only 7 months later they are after us again. Can they actually do that?

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If they're not paid, and cork haven't kept to any agreements that may be in place, then yes they can do that

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Originally Posted by pól-dcfc

They are the ones funding Bohs at the moment, aren't they? Danninger bought the "full" stadium I think.

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No they didn't - they negotiated an option to buy, subject to lots of things: he money they paid us was to secure that exclusive interest. (and they're not 'funding' us at the moment either)