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

**blackholesun** · 15/01/2010, 10:51 AM

I have heard rumours this morning that the revenue are set to go after CCFC again with another winding up order!

bhs

**Mr_Parker** · 15/01/2010, 11:00 AM

Originally Posted by blackholesun

I have heard rumours this morning that the revenue are set to go after CCFC again with another winding up order!

bhs

http://www.insolvencyjournal.ie/noti...C_Limited.aspx

**razor** · 15/01/2010, 11:09 AM

Originally Posted by Mr_Parker

http://www.insolvencyjournal.ie/noti...C_Limited.aspx

This must surely mean the end for Tom (fingers crossed).

**HammerNThongs** · 15/01/2010, 11:21 AM

Genius

**pineapple stu** · 15/01/2010, 11:26 AM

Originally Posted by razor

This must surely mean the end for Tom (fingers crossed).

Does it give time for FORAS to get a club together though?

**Mr A** · 15/01/2010, 11:30 AM

This would make it seem a tad unlikely that CCFC have the necessary tax clearance cert for licensing purposes.

**HammerNThongs** · 15/01/2010, 11:31 AM

Originally Posted by pineapple stu

Does it give time for FORAS to get a club together though?

Still have our license application in and all, so so far, yes, I would imagine it does. Though the sooner we know that CCFCILtd is bust, the better obviously.

**tiktok** · 15/01/2010, 11:31 AM

Originally Posted by pineapple stu

Does it give time for FORAS to get a club together though?

I have a sneaky suspicion that FORAS might have been getting things together just in case something like this should happen! But it's true that it doesn't leave much time if the winding up order were successful.

It's Ironic, two days ago they were having digs at a volunteer that he should be VAT registered if he wanted to work with the club. Today, a winding up order by the revenue commisioners.

That, ladies and Gentlemen, is ****ing Karma!

**pineapple stu** · 15/01/2010, 11:33 AM

The order is the day after the licences are announced too. It'd be hilarious if Cork got a licence and were wound up the next day.

**brendy_�ire** · 15/01/2010, 11:34 AM

Originally Posted by pineapple stu

Does it give time for FORAS to get a club together though?

Player-wise, Drogheda managed it last season.

**James** · 15/01/2010, 11:35 AM

game over for TNB

GAME ON for FORAS

**pineapple stu** · 15/01/2010, 11:44 AM

Originally Posted by brendy_�ire

Player-wise, Drogheda managed it last season.

Yeah, but FORAS are presumably new to the whole running a club thing, sorting money, etc. I know they've been preparing for it, but starting from scratch is a lot more difficult to what Drogs did this year.

**tippex** · 15/01/2010, 11:47 AM

would I be wrong in making an assumption that the powers that be will not be as accommodating as they have been in the past with the winding up orders.

Or am I making an incorrect assumption again?

**razor** · 15/01/2010, 11:53 AM

Originally Posted by tiktok

I have a sneaky suspicion that FORAS might have been getting things together just in case something like this should happen! But it's true that it doesn't leave much time if the winding up order were successful.

Sneaky Suspicion

Would FORAS be then running a solo mission or would any of the previous investment groups be prepared to get involved?

**tiktok** · 15/01/2010, 11:54 AM

Originally Posted by pineapple stu

The order is the day after the licences are announced too. It'd be hilarious if Cork got a licence and were wound up the next day.

It's not Stu.

The Audited and submitted accounts have to be submitted by Jan 29th, at that stage the FAI have to pull together information for the Licencing committes and make a pitch in early Feb., with the decisions coming until the 14th/15th.

I'm 100% certain that Feb 1st, the date of the Court appt. will be before Cork City's licence decision is made. Of course, given past circumstances, I'm sure Coughlan will seek an adjounement in the hope of getting a licence and will use this and the tight new budget as evidence of his ability to repay the tax bill owed. That might work in his favour.

What will almost certainly work against him is that, unlike the last time, people like Gareth farrelly, the mystery benefactor who bailed Coughlan out last time might well row in behind the revenue and join the petition, in the slim hope that they'll get a few quid back as a result of this. If he's wound up, they'll get pennies, at least if they join the petition, the liquidator would be working on thier behalf too.

By the time Feb 1st comes around, Coughlan could be looking at a bill to be repayed far in excess of what if owed to the revenue. Mystery benefactor is owed at least �150k.

**Longfordian** · 15/01/2010, 11:55 AM

Originally Posted by pineapple stu

The order is the day after the licences are announced too. It'd be hilarious if Cork got a licence and were wound up the next day.

Don't think the Licences are announced that day that's just the deadline for the submission of the financials. The meeting wouldn't be until a week or so later Id say.

**tiktok** · 15/01/2010, 11:57 AM

Originally Posted by pineapple stu

Yeah, but FORAS are presumably new to the whole running a club thing, sorting money, etc.

Many of the people who had been running the club all along are FORAS members.

While some on the BoM won't have a second's experience of running a club, there are many many people who can be called on [and have been called on during the licence application process] who have years [some decades] of experience.

The trust is strong financially.

**tiktok** · 15/01/2010, 11:59 AM

Originally Posted by razor

Would FORAS be then running a solo mission or would any of the previous investment groups be prepared to get involved?

Cash is King and investment groups can bring that.

Personally I think a solo mission is called for, if 400 people with a wide range of experience who are willing to roll up their sleeves and who have already handed over significant amounts of cash can be actually referred to as a 'solo' mission.

**razor** · 15/01/2010, 12:02 PM

Originally Posted by tiktok

Personally I think a solo mission is called for, if 400 people with a wide range of experience who are willing to roll up their sleeves and who have already handed over significant amounts of cash can be actually referred to as a 'solo' mission.

My sleeves are ready to roll.

**pineapple stu** · 15/01/2010, 12:09 PM

Originally Posted by Longfordian

Don't think the Licences are announced that day that's just the deadline for the submission of the financials. The meeting wouldn't be until a week or so later Id say.

Originally Posted by tiktok

It's not Stu.

The Audited and submitted accounts have to be submitted by Jan 29th, at that stage the FAI have to pull together information for the Licencing committes and make a pitch in early Feb., with the decisions coming until the 14th/15th.

Spoilsports...