Coleraine in trouble again???
http://www.belfasttelegraph.co.uk/sp...p?story=701822
All very confusing???????????????
Coleraine R.I.P
By Robert Fenton
09 August 2006
A fresh crisis hit Coleraine today as the football club faced a winding up petition in the High Court.
Coleraine Football and Sports Club Ltd's future in the Irish Premier League hangs by a thread as controversy and intrigue enveloped the future of senior football in the town.
At this moment in time, there are two Coleraine FCs - the original one set up in 1927 and facing extinction and a new one - Coleraine FC registered in Companies Registry in December 2005.
Coleraine Football & Sports Club Ltd is still in administration and owes more than £1m to creditors.
Among those are HM Revenue & Customs who are owed around £400,000 and The Sports Council for Northern Ireland who are due £206,000.
If the club goes to the wall, they will no longer be members of the IFA and will not be able to participate in the new season which gets underway on Saturday.
Claims that Coleraine came out of administration are, it would seem, untrue.
The company are listed as still in administration and this was confirmed by accountants Moore Stephen who were given the task of looking after Coleraine's financial affairs by the court in September 2005.
Coleraine FC are not to be confused with the club in court today. They are a separate entity and are not responsible for the debts incurred by Coleraine FSC Ltd.
Coleraine FC in fact are the company bought over by the Friends of Coleraine rather than the original Coleraine which has been participating in senior football for the best part of 80 years.
The chairman of Coleraine FC is Hugh Wade and the Chief Executive is John Mairs.
This club is run from and based at the latter's home address.
Coleraine FC have never applied to join the Premier League or any other league for that matter but yet it is their chairman who has been appointed as Coleraine's representative to the Premier League Committee.
Wade admitted there are two separate clubs and added: "The Friends of Coleraine now own Coleraine FC and they have no debt. Coleraine FC is a new company but has always been registered at the IFA.
"To be honest, I don't understand it all and the only people who can answer questions about the other Coleraine (the 1927 club and current IFA member) are Moore Stephen.
He added in reference to Coleraine FC: "No shares have been issued and all legal papers have not been finalised."
The IFA told the administrators some time ago that if Coleraine changed their name - which they appear to have done - they would not be allowed to continue as a senior club but would have to drop down at least into intermediate football, provided they could find a league to take them.
The IFA need to take a long hard look at the situation before Saturday and whatever decisions the governing body comes to, will no doubt be influenced by Coleraine FSC's fate in court today.
