UK time is: 04:45:40
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Cardiff City Granted 28 day HMRC Extension !!!

Cardiff City have scored a victory of sorts after the high court agreed to defer the winding up order against CCFC scheduled for today. After a number of income avenues were opened by the club, most notably involving the sale of land for 1.8m - granted under exceptional circumstances by Cardiff City council.

The HMRC has accepted a down payment of 1m, as a 'good will' payment and the guarantee that monies raised through the sale of land - will be preferentially directed to HMRC.

This really is a stay of execution, and while all information points to the staving off of the wind-up order on this particular occasion, there are significant further debts to be paid - and no sizable income forecast. Gate receipts, the FA Cup match against Chelsea and a 5-figure payment from Birmingham City as part of the Roger Johnson transfer are upcoming.

The winding up order is legally only adjourned for 28 days, pending payment of the outstanding debt. Once further tax payments are due, we could find ourselves in exactly the same boat.

Peter Ridsale surely knows better than to bill this as a 'victory' for CCFC in any sense....surely?!?




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: Bluebirdshroom Mail feedback, articles or suggestions

Date:Wednesday February 10 2010

Time: 12:16PM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Cardiff City Articles

Stats: Cardiff v Reading (Friday November 21 2014)

Vital Preview: Cardiff v Reading (Friday November 21 2014)

Alfie Will Come Good (Friday November 21 2014)

Slade Expecting Tough Reading Clash (Thursday November 20 2014)

Mackay Returns (Thursday November 20 2014)

Pilkington Opens Irish Account (Wednesday November 19 2014)

Final Day Fixtures Set (Tuesday November 18 2014)

Make Or Break For Morrison (Sunday November 16 2014)

Vital Report: Birmingham 0 Cardiff 0 (Monday November 10 2014)

Archived Cardiff City Articles

List All Vital Cardiff Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. westonal 1
2. Dave Eade 1

League Results (view all)

Latest Results
Cardiff 1 - 0 Wigan
Cardiff 0 - 1 Middlesbrough
Brighton 1 - 1 Cardiff
Fulham 1 - 1 Cardiff
Bolton 3 - 0 Cardiff
Blackburn 1 - 1 Cardiff

League Table (view table)

Team P W D L GD Pts
8. Charlton 17 6 9 2 2 27
9. Wolves 17 7 6 4 0 27
10. Norwich 17 7 5 5 6 26
11. Cardiff 18 7 5 6 1 26
12. Forest 17 6 7 4 3 25
13. Sheff Wed 17 4 9 4 -2 21
14. Reading 18 6 3 9 -6 21

Breaking League News

Cardiff 2 - 1 Reading
Reading : 22/11/2014 01:56:00
Wolves v Forest Match Preview
Forest : 21/11/2014 23:35:00
Cardiff : 21/11/2014 22:10:00
Boro look to maintain progress
Middlesbrough : 21/11/2014 21:55:00
LUFC Hockaday returns to football with Swindon
Leeds Utd : 21/11/2014 19:32:00

Current Site Poll (view all polls)

Reading MotM
Suggested By:  Bluebird
Marshall 0%
Connolly 0%
Morrison 0%
Turner 0%
Brayford 0%
Pilkington 0%
Gunnarsson 0%
Whittingham 0%
Noone 0%
Le Fondre 0%
Macheda 0%
Sub - Daehli 0%
Sub - Fabio 0%
Sub - Jones 0%