Originally Posted by
sonofstan
Let me see if this is right: Cork City Investments Ltd. will be wound up by order of Ms. Justice LaFoy on Friday morning if it - effectively Tom Coughlan - can't come up with 440k to pay the revenue. In that case, presumably a court appointed liquidator will move in and try and recover whatever assets it can in order to pay the company's creditors, with Revenue at the head of the list. At a guess, the company won't have anything like the requisite amount, and the revenue will go away with a small percentage of what is rightfully theirs (and therefore, ours).
Nevertheless, in the meantime, Coughlan is perfectly entitled to turn down an offer to take over the club, pay off the taxman and keep the thing going? Can the court order him to sell to a viable bidder? can the liquidator do the same?