Drogs penalty-possible FAI Smudge?

[Dodge]

That 1.3m is a newspaper calculation. So will alway sbe sensationised or incllude more than it should.

The exact figures were released, as with all examinerships

[sligored]

you cant go on using "when" kevin doyle is sold as a part of your accountancy practices.

He may stay at reading for 3-5 years or maybe even the rest of his career.

not wishing bad on the kid but he may get a serious injury or suffer a severe loss of form.

its time cork started talking about real cash.

[pineapple stu]

Its hard to know. I don't know the exact figures of who was owed what. But if you are to believe that City were paying 75k every forthnght in wages. 3 months wages equals 450k.

That 1.3m is a newspaper calculation. So will alway sbe sensationised or incllude more than it should.

As Dodge said, the E1.3m is the figure given to the court. This would have been very shortly after going into examinership, so wages would have been a very minimal amount in that.

[pete]

As Dodge said, the E1.3m is the figure given to the court. This would have been very shortly after going into examinership, so wages would have been a very minimal amount in that.

Revenue 350k or so & Hummel 90k were the biggest creditors outside wages. Others included 10-20k creditors across MFA, Security, Pubs, Travel etc... The only conclusion is that wages (not just players) is the biggest debt.

[Dodge]

Revenue 350k or so & Hummel 90k were the biggest creditors outside wages. Others included 10-20k creditors across MFA, Security, Pubs, Travel etc... The only conclusion is that wages (not just players) is the biggest debt.

What other wages were overdue? Surely the admin staff (etc) were just let go? I didn't think Cork owed any wages before applying for examinership? Have you see the exact list of creditors pete?

[wexfordned]

Don't know about the creditors, but i'm friends with one of the cork players & they are still owed about 1/3 of their wages since they agreed to a reduction

[pete]

What other wages were overdue? Surely the admin staff (etc) were just let go? I didn't think Cork owed any wages before applying for examinership? Have you see the exact list of creditors pete?

CEO (recently let go) & other admin & management staff that remained were I believe on 30%+ wages also. Probably did not owe wages prior to Examinership. Don't have list of creditors so just process of elimination. Forthnightly bill was supposed to something like 80k. Probably 3 months from start of Examinership to end of season. 350k seems conservative sum.

[pineapple stu]

But the E1.3m was at the start of examinership.

[Dodge]

But the E1.3m was at the start of examinership.

Which would leave us to belive that the only other possible "large" creditor would be Arkaga?

[pineapple stu]

Actually, you could be right there. Think I remember something about them charging a management charge?

[BulmersKid]

The exact figures were released, as with all examinerships

Where can you get that?

[Schumi]

Where can you get that?

I can't find anywhere official but the examiners' website has plenty of newspaper articles mentioning €1.3m so I assume that figure is correct.

Edit: that's the examiners who dealt with Cork's case, not the newspaper!

[pete]

Can we get back on topic & discuss why Drogs think they are a special case?

[pineapple stu]

Drogs aren't a special case. End of story.

You may get a breakdown on CRO.ie of Cork's liabilities.

[higgins]

From the little I know, the debt of 1.3m also inlcde the players wages to the end of the season. I am open to correction on this. This will have to be paid if Cork are to get a Premier Divison license, otherwise they will be relegated like SHels were.

Shels paid their players wages at the end of the season after agreeing deals with all players.

You'll have to update your theory on why shels were demoted!

[SMorgan]

Drogheda's fans are sleep-walking into oblivion. Any fans asking difficult questions are being shouted down by other fans that believe Hoey and others, under no circumstances, should be questioned. I believe the meeting held last Thursday evening was a circus.

[El-Pietro]

Will the players receive the 70% they're owed for the time in examinership? And will they continue to be paid after the end of the season? And don't the creditors only get half of the 10% sell on clause?

yes, or we wont get a license

[El-Pietro]

What other wages were overdue? Surely the admin staff (etc) were just let go? I didn't think Cork owed any wages before applying for examinership? Have you see the exact list of creditors pete?

AFAIK 1.3m included running costs of the club up until the end of the seasona nd we actually only owed (at that point) 800k

[micls]

Will the players receive the 70% they're owed for the time in examinership? And will they continue to be paid after the end of the season? And don't the creditors only get half of the 10% sell on clause?

Yes and Yes

What they pay is a small fration up front. The rest later.
.

Wrong

Which would leave us to belive that the only other possible "large" creditor would be Arkaga?

Arkaga gave over their stake and forfeited any money owed. They got nothing

[Dodge]

AFAIK 1.3m included running costs of the club up until the end of the seasona nd we actually only owed (at that point) 800k

That sounds probable alright. Examiner would be looking at what it would cost to keep it running, rather than just clearing debts. Thanks for settling it (in my head anyway)