QuoteI'd be surprised (admittedly not knowing the facts or much about winding-up orders in general) if they went under due to money owed to one person. Clubs have come through much worse than that.
Waterford have a high court date of July 15th relating to money owed to former manager.
It's in a couple of papers today.
Clearly not good news, is there any chance of them pulling through? at this stage they must really be banking on that Man U friendly
54,321 sold - wws will never die - ***
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I'd be surprised (admittedly not knowing the facts or much about winding-up orders in general) if they went under due to money owed to one person. Clubs have come through much worse than that.
"If you don't work harder I'll pull you off at halftime,"
“Crikey, at Manchester City all we get is an orange and a cup of tea,"
Court date for the petition for a winding up order to be issued will be on 15th July in the High Court. The total amount of monies owed are €50,000.
Just comes down to the creditor's willingness to do a deal with them. Forces the club to stop ignoring their requests (I'm not saying they were I'm just saying generally). Not much chance of the person getting paid if they're wound up though, they don't have any assets.
Upwards to the vanguard where the pressure is too high.
http://www.irishmirror.ie/sport/socc...tephen-1964685
Where's madblaa now??
Sad to see, but on the basis of that article the prospects appear poor.
Don't they owe money to a few players too? There was a story about medical expenses or something right? Gary Dunphy?Originally Posted by fionnsci
There have been warning signs of this nature since before the end of last season.
Author of Never Felt Better (History, Film Reviews).
Berserk! Would be some story if a sacked manager ended up putting the club out of business. Judging from this, Henderson seems to be in the right. All rather shoddy from Waterford's end.
Tweet from Brendan White of extratime.ie
Brendan White @whitebrendan 33m
Just to clarify, a wind-up order has not been made against Waterford United. A petition has been made which the court will decide.
I assume that Waterford are simply not in a position to pay Henderson?
Author of Never Felt Better (History, Film Reviews).
How long left had he on his contract? That's an unreal amount. Seems like things are piling up for Waterford. Fingers crossed they pull through.
From my little knowledge of this type of owed money if they can come to a payment deal, I think they'll be OK. That it's got to this stage for Henderson (who'd clearly prefer anything but this) suggests it's not tht straight forward
54,321 sold - wws will never die - ***
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Waterford have had 6 months to pay or even start making some kind of payments so it seems Henderson has ever right to go about it the way he has. If Waterford can pay players then they surely can pay some money to Henderson or at least cut loose some of the bigger earners to allow for the money to go to Henderson. It's a sacrifice Waterford would have to make but it needs to be made.
What happened the money from the Seanie Maguire move? I thought that was supposed to pay off what was owed to Henderson.
Legal proceedings were wrapped up at the end of March but yes questions must be answered why it was let get to this stage.
My mistake so, I thought it was since December.
Going from memory, and I'm open to correction on this, I think he had a year and a half left on his contract.
The fee was never disclosed was it?
Author of Never Felt Better (History, Film Reviews).
Question that should be asked is why he was sacked in the first place!!
Hope they pull through, wouldn't like to see them go under.
Deals with English clubs are rarely lump sums up front these days, at least in my experience.
As for the club not going under due to the one person, one only has to cast a glance north to Newry City for a very relevant recent example.
Am I the only one that thinks that the quoted text above implies that they conned the licence system. They appealed it so that they wouldn't have outstanding debt to former staff? They then withdrew the appeal once they got their licence....
Depends, but could be read that way.
It would fall under IAS37, which is an accounting standard relating to provision. Dependent on what legal advice was etc, they may have thought it prudent to "provide" for this in their annual accounts, looks like they didn't.
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