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

**White Horse** · 31/07/2009, 1:24 PM

The Club statement is bullsh!t. They want to appeal the decision of the Revenue Commissioners?

The Supreme Court cannot tell the RC whether to accept the deal or not.

Who is advising these eejits?

**Mr A** · 31/07/2009, 1:25 PM

And do they really think they'll ever get paid?

**SeanDrog** · 31/07/2009, 1:25 PM

looks like they are buying time to pay off revenue and hope that this will make it all go away (will it?)

**roinuj** · 31/07/2009, 1:26 PM

its official, waterford united = munsters biggest club

**Ezeikial** · 31/07/2009, 1:26 PM

Club Statement:
Quote:
On behalf of Cork City FC, we wish to confirm our decision to appeal the decision made by the revenue commssioners not to accept the proposal put forward in the High Court this morning.

It is our intention to seek a stay on the order for leave to appeal to the supreme court. During this period we will settle our outstanding liability in full.

We believe that our proposal demonstrates 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.

We have a big match tonight against Bray Wanderers at Turner's Cross, so we are looking forward to getting back to football and hope to see the Rebel Army there in big numbers

It is appropriate that we take this opportunity to thank all of those who have rallied behind the cause and demonstrated their support in recent times. In particular we would like to thank our manager and players for their loyalty and continuing hard work to deliver success on the pitch. Also, Dermot Desmond and Celtic FC for their commitment to come to Cork, John Delaney and the FAI who have been very helpful and supportive behind the scenes and of course, Jim McCarthy of Quintas for lending us their considerable expertise and advice. Also, we would like to thank Olann Kelleher and Mark Riordan.

Is this a hoax or genuine?

"appeal the decision made by the revenue commssioners "

"During this period we will settle our outstanding liability in full"

**Umberside** · 31/07/2009, 1:27 PM

Originally Posted by roinuj

its official, waterford united = munsters biggest club

Ye deserve it.

**Larry 'da' Wyse** · 31/07/2009, 1:27 PM

Originally Posted by Mr A

He has in his arse put in 700k!

From the Examiner this morning (so it must be true

)

He has also agreed to write off his personal investment in the club, a sum of money which is understood to be in the region of �700,000.

Jim McCarthy Quintas:
There are obviously other creditors but nothing of too much significance, nothing that can�t be sorted out from managing the cash flow of the club carefully going forward which I think has to be a priority. A big creditor of the company would be Tom Coughlan himself and I think to be fair he has put �700,000 in and he�s prepared to write that sum off in its entirety.

**John83** · 31/07/2009, 1:28 PM

Originally Posted by SeanDrog

looks like they are buying time to pay off revenue and hope that this will make it all go away (will it?)

No. If they raise the money, they have wages to pay (this week's wage payment was voluntarily deferred by the players), and prize money brought forward already. They'd be dead in a couple of months at best.

**Umberside** · 31/07/2009, 1:29 PM

Suppose next year we'll be playing A Championship against Salthill Devon and Tralee Dynamos in Bishopstown. I doubt we'll still play in Turners Cross.

**Magicme** · 31/07/2009, 1:30 PM

So is it better to put the gun to the head now or let it writhe and suffer for another while?

**pineapple stu** · 31/07/2009, 1:30 PM

I imagine their plan is to sell all their players and try and keep trading as a part-time team from now on. As in, what they should have done when they came out of examinership. We've been told all players are free to leave; we've been told some of them are left already.

Or maybe that's just the impression they're trying to create to curry favour with Revenue.

**Longfordian** · 31/07/2009, 1:32 PM

Quote from Dodge's mate charliesboots on the Cork forum

Lads where is this idea about Wednesday coming from?

Judge Laffoy said that she was granting a stay until 4 p.m. on the order and that it was a matter for the Supreme Court whether or not to put any further stay on.

If Cork's legal team don't get into the Supreme Court before 4 p.m. and get a stay then it's curtains.

The chances of them convening the Supreme Court and having the practicalities sorted before 4 are slight. Even if they do then the chances of the Supreme Court granting a stay are slighter still.

.

Not looking good all round.

**Umberside** · 31/07/2009, 1:32 PM

Originally Posted by pineapple stu

I imagine their plan is to sell all their players and try and keep trading as a part-time team from now on. As in, what they should have done when they came out of examinership. We've been told all players are free to leave; we've been told some of them are left already.

Or maybe that's just the impression they're trying to create to curry favour with Revenue.

Pat Sullivan has moved To Dublin and is working at a dental practice with his mate, while playing part-time for Shamrock Rovers. Roberts Mezeckis was released yesterday.

**GalwayRed** · 31/07/2009, 1:33 PM

Originally Posted by Umberside

Suppose next year we'll be playing A Championship against Salthill Devon and Tralee Dynamos in Bishopstown. I doubt we'll still play in Turners Cross.

If youre lucky. Salthill Devon are going up

**DSandy** · 31/07/2009, 1:34 PM

Originally Posted by Ezeikial

Is this a hoax or genuine?

"appeal the decision made by the revenue commssioners "

"During this period we will settle our outstanding liability in full"

I believe this has to do with time, Revenue would not accept this morning what they would have accepted beginning of this week/last week, half outstanding monies and 4 equal payments each month thereafter, e.g. �220,000 plus �55,000 x 4 has changed to all monies owed paid in full, e.g. �440,000.

The club do have a right to appeal and if in the meantime, while waiting for the appeal, they can pay the amount in full and Revenue drop the winding up order then the decision of any appeal to the Supreme court would not be applicable.

Question is will they have enough time to raise all the monies owed?

**Mr A** · 31/07/2009, 1:36 PM

Can the Revenue even drop the winding up order after it's been made though?

**adamd164** · 31/07/2009, 1:36 PM

Originally Posted by Longfordian

Quote from Dodge's mate charliesboots on the Cork forum

.

Not looking good all round.

That was correct but they didn't find anyone from the S.C. to hear it today and now it must go before them next Wednesday instead.

**don ramo** · 31/07/2009, 1:36 PM

Originally Posted by Umberside

Suppose next year we'll be playing A Championship against Salthill Devon and Tralee Dynamos in Bishopstown. I doubt we'll still play in Turners Cross.

us aswell

,

**passerrby** · 31/07/2009, 1:37 PM

I would think that if the wind up order is in effect any monies offered over the next few days by TC will be accepted to service accounts due.unless there is a stay put on the order before 4 anything after that would be futile