THE APPLICATION to wind up Cork City Football Club has been adjourned after the High Court was told that negotiations were under way to sell the club.
Ms Justice Mary Laffoy put back for two weeks proceedings by the Revenue Commissioners to wind up the club over an outstanding VAT, PAYE and PRSI bill of €115,906. She agreed with the Revenue the adjournment should be on a peremptory basis against the club and added it might benefit the Revenue.
Last July, a similar winding-up move was averted when the club came to an arrangement with the Revenue over a bill of €439,000.
Counsel for Cork City Investment FC Ltd, the club’s owners, asked the judge for the adjournment to allow negotiations for the sale of the club to be held. A written offer to buy it had been received, the court heard.
The club had to have its debts paid off to get its operating licence from the FAI, counsel said.
Club owner Tom Coughlan had issued a statement last week confirming that a finance group, Quintas, was involved in talks to buy the club along with local businessman Michael O’Connell.