Ay idea of the size of the potential liabilities with Mathews and Farrelly?Quote:
Originally Posted by tiktok
Ay idea of the size of the potential liabilities with Mathews and Farrelly?Quote:
Originally Posted by tiktok
Farrelly's is €36,000. The award has already been won in court but not yet paid, hence the rumoured winding up order.Quote:
Originally Posted by Ezeikial
Mathews was rumoured to be on anything up to €150,000 with a potential two years left at the club. I guess he could look for a €300,000 award [that's the figure being bandied about most often down here] but i don't think it's as straightforward as multiplying years by wage.
If he won his case I'd be surpised if he came out with less than 100-150k anyway, though I guess it depends what sort of cash he's earning in Drogs in terms of loss of earnings.
Quote:
Originally Posted by Mr A
Which could be within 10 days
http://www.herald.ie/sport/soccer/an...t-1886622.html
Confirmed on CCFC forum
More wind-ups than a Bohs-Rovers thread on foot.ie at this stage.Quote:
winding up order filed yesterday
CORK CITY INVESTMENT FC LIMITED -V- COMPANIES ACTS 1963-2009 2009/515 COS
Issue Date:
15/09/2009
If we can just get rid of the driver then we'll be ok.Quote:
Originally Posted by joey4ireland
It will allow some Cork City fans to drone on.Quote:
Originally Posted by razor
ah hell there better off starting off from scratch i cant understand how owners can be so stupid as to cause such finantial problems!!
:confused: What?Quote:
Originally Posted by HarpoJoyce
So how does it work,Farelly is basically saying that if they cant afford to pay 36,000 then they should be declared insolvent/bankrupt and wound up is it??
Surely Cork can get that "lovely couple" Frank And Irene to bail them out again:rolleyes:.That same couple though should then be prepared to help out other clubs in the same way such as Galway,Derry and whoever else needs it,just to show they are not biased:mad:.By rights i know they shouldnt be but if they helped one club they HAVE to help the others.
Farrelly has already won a judgement against them, but CCFC still have not stumped up. This is the last resort for a creditor to get their money so yeah, it's basically either pay up or bye, bye CCFC.
Can't see them folding over such a sum, but it'll be interesting to see if the wage bill after it is met......
Rights Commissioner and his staff may be very lovely.Quote:
Originally Posted by Mr A
If it delays a football decision, then CCFC can present a case in front of the Courts.(1,2,3 or 4). Three and Four are High and Ext..Supreme respectively.
In reply to micls, a pilotless craft is a drone also you and other Cork City fans have insisted that the Creditors before Examinership were mostly fans of the club. I am very happy at least one LoI club has invested over half a million into the Exchequer alone. You should be very proud.
Next, pay and compensate your staff and ex-staff.
FORAS monies will help to compensate Farrelly, refusal shows FORAS's greed.
:rolleyes:Quote:
Originally Posted by HarpoJoyce
FORAS have - quite rightly IMO - publicly announced they are refusing to help Coughlan in any way. FORAS have no part within CCFC and I think would be doing themselves a disservice helping the current entity continue. They've already set up a fund to help players. I think your post is highly ignorant.
I've never read such ignorant rubbish in all my life.Quote:
Originally Posted by HarpoJoyce
Total rubbish, it just shows your ignorance of the situation. FORAS should be doing nothing to prop up the current regime.Quote:
Originally Posted by HarpoJoyce
The bills accrued by Cork City Investments FC Ltd. have nothing to do with FORAS, which is a completely separate entity from the club, there currently isn't even a working relationship between the two. If Cork City Investments FC Ltd., require financial support from FORAS to pay their debts, they can request it and our members will vote on that request.Quote:
Originally Posted by HarpoJoyce
As for paying staff, FORAS has established a Hardship funds for players in asociation with the PFAI and have set up a separate fund for Staff to provide bridging loans should they find themselves in difficulty.
Before you start jumping to ridiculous conclusions and throwing around accusations you could at least try to get an understanding of the facts. What you've posted shows total ignorance of the situation.
I see in the paper today Mathews has a provisional High Court hearing date in the last week of October. Could be interesting.
What would be the point for Matthews to acheive a winding -uo order against a club with no assets? Are they going to pay him in players a la bonded slavery?
Probably hoping the FAI will bail Cork out again. Plus he really really hates TC and would be delighted to do him over once and for all. He's not looking for a winding up order yet anyway, just the judgement. I'm sure he'd take instalments.
From CCFC forum:
Quote:
High Court hearing confirmed on 96FM news as October 12th.