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30/08/2005
Bannsiders gain further reprieve
Coleraine Football Club has been given a further one-day reprieve in its quest to stave off a winding up order.
The Inland Revenue wants the club wound up after it ran up debts of £365,000, however following an appearance at the High Court on Tuesday the club have been given a 24-hour reprieve after it made a request to go into administration.
The application to appoint an administrator will be heard by a judge on Wednesday afternoon but the Inland Revenue is set to oppose such a move.
Earlier this month, a bankruptcy hearing at the High Court was expected to signal the end of the Bannsiders, however the court was told that a rescue plan was in place to pay the £364,092 back.
The case was adjourned until today, when the business plan was presented. One of those behind the new plan is Raymond Kirk who is chairman of the Friends of Coleraine.
Mr Kirk said the club was receiving "overwhelming" support from the business community and that he was "absolutely convinced" the new plan would work.
(MB/SP)
The Inland Revenue wants the club wound up after it ran up debts of £365,000, however following an appearance at the High Court on Tuesday the club have been given a 24-hour reprieve after it made a request to go into administration.
The application to appoint an administrator will be heard by a judge on Wednesday afternoon but the Inland Revenue is set to oppose such a move.
Earlier this month, a bankruptcy hearing at the High Court was expected to signal the end of the Bannsiders, however the court was told that a rescue plan was in place to pay the £364,092 back.
The case was adjourned until today, when the business plan was presented. One of those behind the new plan is Raymond Kirk who is chairman of the Friends of Coleraine.
Mr Kirk said the club was receiving "overwhelming" support from the business community and that he was "absolutely convinced" the new plan would work.
(MB/SP)
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