Petition to wind up: Cork City Investment FC Ltd

**Hairy Bowsie** · 25/05/2009, 7:14 AM

Originally Posted by OneRedArmy

Anyway, I wasn't the one demanding Cork be thrown to the dogs. There by the grace of God etc.

Neither am i. I merely want them punished for the crimes committed, and not just them anyone who breaks the rules should be punished for it.

So, getting back to your new found love of financial probity, when exactly did it kick in, early 07?

Mid 06 actually, it was the first in a string of finacial disasters to hit the league in recent memory. What happened at Shels was right, we broke rules and we were punished for that. Things shouldn't change.

**Celdrog** · 25/05/2009, 8:51 AM

Originally Posted by gufct

I heard over a month ago that Coughlan has Personal tax Problems with the revenue

So why was it not posted immediately?

You know the rules, anything bad about a rival, particularly financial must be put up straight away. The fact that it appeared to be true is irrelevant.

Anyway - hope it all goes well for Cork today.

**pineapple stu** · 25/05/2009, 9:24 AM

Originally Posted by sheao

Would be dissapointing if we do as City are looking like genuine title conteders this year. We will know a whole lot more this time tomorrow.

Congratulations. Posting the same comment on the same page as where the major flaw in it was highlighted. Well done.

**L.T.F.C.** · 25/05/2009, 9:36 AM

Originally Posted by brianw82

I'd just like to wish CCFC well tomorrow.

ah... are you in love or something?

**tiktok** · 25/05/2009, 9:43 AM

Originally Posted by Hairy Bowsie

i don't want you to have luck, i want you to have a competant and finacially viable club as i'm sure you do, so please lets not have this turn into a slagging match.

Unfortunately for the supporters HB, as long as we're owned by people who take huge risks with our future, we'll need that luck. We'd all prefer that we were compliant and sustainable obviously and the day when supporters, through FORAS, own and run the club can't come soon enough.

**pete** · 25/05/2009, 10:13 AM

Originally Posted by L.T.F.C.

They should definately get points deducted...

Any reason to back that up? I've heard some stupid things here but...

The goal of the wage cap & licencing is to prevent clubs from getting into financial not for leagues to be won in the courts or accountants office.

**Hairy Bowsie** · 25/05/2009, 10:17 AM

Originally Posted by tiktok

Unfortunately for the supporters HB, as long as we're owned by people who take huge risks with our future, we'll need that luck. We'd all prefer that we were compliant and sustainable obviously and the day when supporters, through FORAS, own and run the club can't come soon enough.

Fair point tiktok. Can anyone hazard a guess at the best and worst outcome of this for Cork?

**pineapple stu** · 25/05/2009, 10:20 AM

They'll either be wound up or they'll find the cash and possibly be back in the same spot in a few months time. The latter is more likely going on previous LoI experience.

More pertinently though, when's the case being heard?

**Battery Rover** · 25/05/2009, 10:25 AM

Originally Posted by pineapple stu

More pertinently though, when's the case being heard?

11am today

**Hairy Bowsie** · 25/05/2009, 10:29 AM

Case is on as we speak/type then but does anyone have an idea when the news of the outcome will be revealed? I can't stay on the net all day but if i knew a time i'd try and arrange to get back online then.

**pineapple stu** · 25/05/2009, 10:34 AM

I can't imagine it'll take all that long. "Have you the money? Yes or no?" kind of thing. There were a fair few such cases on the original notice, so if you can get through a fair few in a day, they can't be that long.

**tiktok** · 25/05/2009, 10:37 AM

Originally Posted by Hairy Bowsie

Fair point tiktok. Can anyone hazard a guess at the best and worst outcome of this for Cork?

Worst outcome is Cork City FC Investments Ltd., is wound up, which effectively means that the FAI would be left with no choice but to eject us from the league. Depending on the legal wrangling that may follow in terms of a wound up company holding a licence, the club could cease to exist.

Best outcome today is that Coughlan has money to service all debts, gets a wake up call and looks to actually run the club in a sustainable fashion from here on in. Best outcome in the long run is the fans taking control.

The likely outcome is that TC and the Revenue have thrashed out some sort of renegotiated scheme or arrangement to repay the debt. Could we be in the same trouble in a few months time? If TC keeps pointing to the business plan we have not bringing in the planned money, instead of addressing the fact that the business plan is unrealistic, it's hard to see how we'll avoid being back here. Then again, a few high profile friendlies and a bit of prize money could see us wallpaper over the cracks in the interim.

We'll know soon enough anyway, have someone sitting in the court for us and as soon as the case is heard the text will come.

**pineapple stu** · 25/05/2009, 10:40 AM

Originally Posted by tiktok

Worst outcome is Cork City FC Investments Ltd., is wound up, which effectively means that the FAI would be left with no choice but to eject us from the league.

Does that absolutely, 100%, FAI want to help you in any way possible, have to follow, I wonder?

**Dodge** · 25/05/2009, 10:41 AM

Why would you suspectig the FAI want to help Cork make you cynical?

Surely wanting them to fold would be the cynical angle?

**pineapple stu** · 25/05/2009, 10:43 AM

Possibly, yeah. Force of habit, I suppose!

I'll take that bit out, so, and we can revisit the question.

**tiktok** · 25/05/2009, 10:47 AM

Originally Posted by pineapple stu

Does that absolutely, 100%, FAI want to help you in any way possible, I'm being very cynical, have to follow, I wonder?

The FAI don't want to lose Cork City [not because the league would die without us or anything so conceited]. I don't think they have to help us, though I know they're somewhat sympathetic to how the bills in question here arose. I think if it was required, they would step in to offer some sort of support.

Admittedly, the FAI can't have a Cork City who bring bad press every couple of months for the next few years, but I don't know what strings could be attached top ensure compliance when previous ones have been ignored.

**pineapple stu** · 25/05/2009, 10:50 AM

They don't have to help you, but Fran Gavin's publicly stated they want to help you.

What I'm more getting at though is is there a definite connection between having your holding company wound up, and being able to put 11 players on a pitch? I know Drogheda's trading company got wound up a few years back, and the FAI hit them with sanctions until they got it re-instated. It's a slightly different scenario, but still.

**Derry** · 25/05/2009, 10:55 AM

Originally Posted by Hairy Bowsie

Neither am i. I merely want them punished for the crimes committed, and not just them anyone who breaks the rules should be punished for it.

Mid 06 actually, it was the first in a string of finacial disasters to hit the league in recent memory. What happened at Shels was right, we broke rules and we were punished for that. Things shouldn't change.

You broke the rules the year you cheated your way to the League title, yet your punishment didn't kick in till the following season, which was wrong. You should have been punished in the year you broke the rules, and had at least a points deduction. Bohs now look like they are following the same route, with the FAI merely giving them a slight slap on the wrist.

**tiktok** · 25/05/2009, 10:57 AM

Originally Posted by pineapple stu

What I'm more getting at though is is there a definite connection between having your holding company wound up, and being able to put 11 players on a pitch? I know Drogheda's trading company got wound up a few years back, and the FAI hit them with sanctions until they got it re-instated. It's a slightly different scenario, but still.

You can only change the holding company in the off-season is what we've been told.

If it was to go mid-season a new company cannot takeover the licence, which is understandable as it would avoid a company accruing huge debts, winding up and then the same people starting a new holding company afreash while continuing with a debt free club.

What happens to the licence until the off-season and beyond is a bit up in the air, but the club would be in danger of dying.