Cork City denied a licence; club to be wound up; FORAS to enter First Division

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Originally Posted by Black and White

But if they are saved surely the FAI will have to set in and punish them in some way! Thats not on, nearly going into liquidation one week and then battling for a European spot another!

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If they pay all their bills, they've done nothing wrong.

But they have gone over the time limit they had and they should have the money if the club was run properly

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Originally Posted by Cici900

But they have gone over the time limit they had and they should have the money if the club was run properly

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What time limit? If Revenue are happy, thats good enough for the rest of us

If they cut back to amateur status so they can pay all their bills, then that's fair enough.

Jesus I'm sick of this league, more nonsense goes on here than in any daytime American soap, no wonder all our clubs will one day go to the buffers.

Anyway if Cork is saved, whoopee, see you in a few months in an identical thread

If not my sympathies go to the non-arrogant Cork supporters

Dont stress jebus, we will all wake up tomoro and Cork City will be in the shower and it will all have been a year long bad dream.

jesus you couldnt script this story!

COME ON CITY

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Originally Posted by Dodge

What time limit? If Revenue are happy, thats good enough for the rest of us

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Ah come on now. Taxes are supposed to be payed on time.
Why did it end up in court then and what was the big panic?

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Originally Posted by Dodge

What time limit? If Revenue are happy, thats good enough for the rest of us

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They were given till friday remember!

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Originally Posted by dong2008

Ah come on now. Taxes are supposed to be payed on time.
Why did it end up in court then and what was the big panic?

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Would you and the rest above who are moaning that City might have sorted this just give it a rest.

City haven't entered examinership (i know they can't twice), haven't broken any league rules so why would they be punished?

This is a matter of outstanding tax and if the tax is paid in full then nothing wrong has been done regardless of when. It's the Revenue Vs. Cork City. Extensions and stays are irrelevant as long as the Revenue are happy.

By the way, people go to court all the time due to arrears, including tax. You go to court to settle it and if all the tax is paid, it's settled.

if this is the case no club has to worry anymore
nothing short of a disgrace

charliesboots on ccfc forum.

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Deal done - Cork have to pay it all by Wednesday

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Cork City FC is delighted to confirm that it has reached agreement with the Revenue Commissioners regarding the clubs outstanding tax liabilities

Club owner Tom Coughlan said “We are thrilled to have secured the future of the club and are looking forward to celebrating at Turner's Cross tonight when we host Bray Wanderers in the league.

"As we said earlier today, we believe that our proposal today demonstrated not just our commitment but also our ability to settle our liability in full in the short term. In addition to this, under the guidance of the Quintas Group we now have a sustainable business model which will protect jobs and ensure that a similar situation will not arise going forward.

This has been a very difficult period for us all but I firmly believe that the club will be stronger as a result."

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Originally Posted by Buller

Deal done - Cork have to pay it all by Wednesday according to ccfc forum.

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Ah. That's very different to "saved".

This is basically another stay, then? If 100% of the balance doesn't appear by Wednesday, the winding up order comes into affect?

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Originally Posted by Buller

charliesboots on ccfc forum.

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along with players wages!!

Tom is still in situ so. Lots more drama ahead no doubt.

Yes!

Another week of crap being written about the league in the paper and hopefully we can get stay of execution #13226679

Rejoice

A very famous character once said...."I dont beeeeeeeliiiiiieve iiiiiiit"!:confused:

has he rescued the club or are they still dangling from a rocky cliff

The FAI have given Cork an advance of the end of season prize money which in turn, according the RTE has been handed over to the Revenue.

Now what happens if Cork goes out of business? They wouldn't be entitled to the prize money that the FAI has given them!!

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Originally Posted by chatterbox

I agree with you Cici900. Coughlan has got away with murder over the last while. Even after renegotiating the contracts and restrcuturing the club after examinership, the fact that CCFC can renege on these payments for so long and get away with it is very worrying. When all the talk is about doing things correctly, having a sustainable business model, Cork do neither and get no punishment.

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And if they still can't pay them by Wednesday they will be gone.

A decent effort was made by Coughlan this week to sort it out and although it is probably too little too late at least it gives the club a chance to sort things out over the short term, even if that is dropping down to the A Championship.

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Originally Posted by SMorgan

The FAI have given Cork an advance of the end of season prize money which in turn, according the RTE has been handed over to the Revenue.

Now what happens if Cork goes out of business? They wouldn't be entitled to the prize money that the FAI has given them!!

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In't that a bit like giving a 25yr mortgage to someone with a terminal illness and 6 months to live.....? :eek:

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Originally Posted by Cici900

No i dont wnat to see a club die but other clubs suffered in theses situations and city have gotten off because of this "deal". End of.
I dont want to cause arguments i used to love this league and when cobh went i wasnt happy again for months. Not going to colmans park every saturday to see them play is a nightmare. I could see my heroes a few inches away from me it was a dream. I'd hate to see someone else suffer like that but a lot of city fans laughed at us when we were in trouble. I know as usual its a minority giving the majority a bad name as the majority are decent and i feel sorry for them. At least cork pulled through.

Look at us now.:(:(

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Firstly the situations of the two clubs are completely different. It doesn't take a rocket scientist to work that out.

Secondly Cobh Ramblers still exist and still play in Colmans Park. So what you'r e saying is that you stop bothering your hole supporting Cobh cos they play in the A Championship?

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Originally Posted by SMorgan

The FAI have given Cork an advance of the end of season prize money which in turn, according the RTE has been handed over to the Revenue.

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Where were the FAI when Kilkenny City went out of business for the sake of only €70k?

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Originally Posted by DmanDmythDledge

And if they still can't pay them by Wednesday they will be gone.

A decent effort was made by Coughlan this week to sort it out and although it is probably too little too late at least it gives the club a chance to sort things out over the short term, even if that is dropping down to the A Championship.

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Substitute Friday for Wednesday and you could have said the same thing on Monday

Substitute the date of that Wednesday and you could have said the same thing 6 weeks ago

Lads, would ye ffs stop feeding the trolls. If a comment winds you up, it was probably designed to. Report them instead of responding to them like complete idiots.

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Originally Posted by jebus

Substitute Friday for Wednesday and you could have said the same thing on Monday

Substitute the date of that Wednesday and you could have said the same thing 6 weeks ago

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Given how close the revenue were in pulling the plug today I think it's fair to say that Wednesday is definitely D-day for CCFC.

I've heard D-Day too many times now. I don't believe it to be like that.

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Originally Posted by Blue-Army

Where were the FAI when Kilkenny City went out of business for the sake of only €70k?

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Kilkenny was different. That was really a one-man show, and he fell ill.

Delete this if posted already but I'm told:

Coughlan came up with financing from some institution in London on the back of the Celtic game.

Cork have agreed to pay the revenue by close of business on Wednesday and the court has stayed the order to wind them up until Thursday morning.

If on Thursday all the money has been paid, revenue will withdraw the petition.

If on Thursday all the money has not been paid the order will commence and Cork have agreed not to apply for any further stays or to appeal.

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Originally Posted by charliesboots

If on Thursday all the money has not been paid the order will commence and Cork have agreed not to apply for any further stays or to appeal.

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That binding or it is just their word?

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Originally Posted by charliesboots

Delete this if posted already but I'm told:

Coughlan came up with financing from some institution in London on the back of the Celtic game.

Cork have agreed to pay the revenue by close of business on Wednesday and the court has stayed the order to wind them up until Thursday morning.

If on Thursday all the money has been paid, revenue will withdraw the petition.

If on Thursday all the money has not been paid the order will commence and Cork have agreed not to apply for any further stays or to appeal.

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does that include the players

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Originally Posted by charliesboots

Delete this if posted already but I'm told:

Coughlan came up with financing from some institution in London on the back of the Celtic game.

Cork have agreed to pay the revenue by close of business on Wednesday and the court has stayed the order to wind them up until Thursday morning.

If on Thursday all the money has been paid, revenue will withdraw the petition.

If on Thursday all the money has not been paid the order will commence and Cork have agreed not to apply for any further stays or to appeal.

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Exactly how rare is it that anyone would get 2 stays on a case like this? And one after a decision had been made?

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Originally Posted by martin_rules_ie

No justification for deductions or relegations unless Mr. Coughlan has a problem paying the deferred wages due to the players on Wednesday I believe.

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I expect they'll be deferred until Thursday now

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Originally Posted by DmanDmythDledge

That binding or it is just their word?

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I could say it is but I've never seen anything run in a courtroom the way this has. This league is soap opera at its best - brilliant entertainment.

If it wasn't for Ms. Justice Laffoy Cork would have been out of business weeks ago - they should be eternally grateful to her for her patience and empathy with supporters and employees although she wasn't too impressed with Tom.

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Originally Posted by SMorgan

The FAI have given Cork an advance of the end of season prize money which in turn, according the RTE has been handed over to the Revenue.

Now what happens if Cork goes out of business? They wouldn't be entitled to the prize money that the FAI has given them!!

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I assume it's the prize money for 10th in the premier. If Cork don't last the season, there'll be no one else elligible for it anyway.

Nothing is going to happen, Cork will be OK the money will be found and the charade can carry on I just wonder how much other monies are owed, was A Matthews paid outstanding money have the players been paid ? as I said in an earlier post has precedent now been set or is on a case by case basis or are the books we are all " supposed" to hand in on a monthly basis now void and irrelevent. I knew this morning when Bray were traveling down to Cork nothing was going to happen :confused:

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Originally Posted by Karl Phillips

I knew this morning when Bray were traveling down nothing was going to happen :confused:

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So it was Bray's decision after all then !?!? :D

I wonder if this will get past the humour police..... ;)

I knew the FAI would save Cork.Pity they wouldnt help Shels and Kilkenny.They should be relegated or docked points!

IF Cork survive this, they really need to get their house in order because in the future, if they get in a mess again, they will go out of existance as the courts/Inland revenue will not have any patience with them.

Cork appear to have exhausted all favours/lifelines so they need to make this count.

Congratulations to Cork City fans, who still have a club. Whilst I have no great love for Cork City, fans are in no way at fault here and deserve better.

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Originally Posted by Steve Bruce

IF Cork survive this, they really need to get their house in order because in the future, if they get in a mess again, they will go out of existance as the courts/Inland revenue will not have any patience with them.

Cork appear to have exhausted all favours/lifelines so they need to make this count.

Congratulations to Cork City fans, who still have a club. Whilst I have no great love for Cork City, fans are in no way at fault here and deserve better.

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Being realistic, this changes little. Cork are in an even worse financial position as their cash flow have been ripped to pieces to gather funds to pay the Revenue.

Factoring houses in London will take a commission of approx 20% on all cash advanced to them.

Their revenue streams for the rest of the season will be negligable.

My reading is that today had nothing to do with Cork City (they are already doomed) and everything to do with Tom Coughlan not getting struck off as a director.

I hope I'm wrong about this.