Thomas Davis to Fold?

[dublinfella]

Re-read the part about the grey area, bond & guarantee.

these individuals have either placed a bond or they haven't

something is up here...

[Rossfan]

I imagine Croke Park will guarantee the repayments and this will be acceptable to Creditors as they know they will get their money.
As for legal fees ...sure everyone knows they are a work of fiction at the best of times.

[Bud Wiser]

Is there an issue with Lotto money here? What money was raised from membership to fund the all weather pitch and was there not matching  lotto funding given at the same time for the same project?  I am merely asking the question.

Insert Quote
I imagine Croke Park will guarantee the repayments and this will be acceptable to Creditors as they know they will get their money.

Fair comment but when the old dear that was treasurer in a club in Waterford was put out on the street and had to sell her tigin the boys in Croker didn't even offer her a bowl of soup in the hostel in Bow Lane, much less the creditors.

[Bogball XV]

The jungle drums are beating that Thomas Davis have called an EGM for next week to discuss their precarious financial position. I understand that fees have not been passed on to the DCB and they are struggling very hard to cover the legal bills from the foolhardy trip to the High Court of a few years ago.

Anyone heard anything? Is folding actually on the EGM slate?

A question of reaping what they sow or were they shafted centrally over the Tallaght stadium issue?

The decision of the council to build a stadium that could not host the needs of main local sporting clubs was unjust and a waste of valuable resources.  This isn't a gaa v foreign sports issue, it's one of waste and needless duplication of resources. 
The same applies to the Aviva, it should have been able to cater for gaa and the gaa should give up croker when prospective attendances require it.

[rrhf]

Fingal county council thinking they are the Glaziers, this stadium built for a "professional" soccor outfit.  Whatever about bondholders, the roles of Dublin County council in this is a strage one alright.  I wonder how much money was actually "burned" promoting sporting Fingal.  Thats even before you talk about the AVIVA.     

[dublinfella]

Fingal county council thinking they are the Glaziers, this stadium built for a "professional" soccor outfit.  Whatever about bondholders, the roles of Dublin County council in this is a strage one alright.  I wonder how much money was actually "burned" promoting sporting Fingal.  Thats even before you talk about the AVIVA.   

Fingal? Dublin County Council? What are you talking about?

[Canalman]

Thomas Davis have been in Tallaght well over 100 years (or thereabouts) so they are going nowhere despite the wishful thinking of some of the "beautifulgamers". Have heard that it is the allweather pitch that has them in trouble mainly and not the Court case.
TD and SDCC have a frosty relationship and if memory serves me right they were in Court some years ago over a pitch near the Garda Station in the village. TD lost.

[bennydorano]

Was an EGM held in the first place to pursue a court case? (obviously a different kettle of fish from defending one)  If so, hard to see any one individual being liable if the decision was taken by the membership.  If a few sharp talking committee members brought the case without an EGM they should be held accountable for such folly - although I'm sure County Boards and the Leinster council would(should) have been kept well appraised of the situation.

[heffo]

I stand to be corrected here, but my understanding is that the Treasurer is personally liable for the debts of the club

Consider yourself corrected!

[muppet]

I stand to be corrected here, but my understanding is that the Treasurer is personally liable for the debts of the club

Consider yourself corrected!

Trustees?

Edit: and anyone who may have signed themselves into that situation?

[bennydorano]

Anything of such magnitude or were there are considerable risks to the financial well-being of the club surely have by passed at an EGM?  Trustees perform no role in most clubs - although they can be committee members, they are there so the club wont be sold from under you by a few sharp talking Committee members ( ), I know our club has recently taken on 1 or 2 members of the Co board as trustees and i think this is to become common practice. 

I'm pretty sure all assets of every club are ultimately owned (it's in the constitution anyway) by the GAA, going by that the GAA will ultimately be liable.  If proper procedure hasn't been followed by TD, they probably negate that clause of the GAA constitution, but I really find it hard to believe that they've done this independently of Co Board/Leinster Council.

[dublinfella]

Depends what side of the equation you mean Benny.

The DCB fully supported TD in the court case, so they can't realistically turn around and claim they didn't understand that losing would cost money, in this €500,000. Hence a group of people put down individual surities to ensure that the clubs assets were not at risk. Still have not had any indication as to why those bonds are not being drawn down by the High Court.

As for the other €1.5m, who knows what the situation with the borrowing. All will become clearer on Monday I suppose.

But in general, what happens if a club goes pop in a cloud of debt? Are the County Board or Croke Park left liable? Can the assets (land in this case) be siezed?

[dublinfella]

Thomas Davis have been in Tallaght well over 100 years (or thereabouts) so they are going nowhere despite the wishful thinking of some of the "beautifulgamers". Have heard that it is the allweather pitch that has them in trouble mainly and not the Court case.
TD and SDCC have a frosty relationship and if memory serves me right they were in Court some years ago over a pitch near the Garda Station in the village. TD lost.

So where is this €2m+ going to come from?

[Canalman]

Thomas Davis have been in Tallaght well over 100 years (or thereabouts) so they are going nowhere despite the wishful thinking of some of the "beautifulgamers". Have heard that it is the allweather pitch that has them in trouble mainly and not the Court case.
TD and SDCC have a frosty relationship and if memory serves me right they were in Court some years ago over a pitch near the Garda Station in the village. TD lost.

So where is this €2m+ going to come from?

Presume they will engage with their creditors, consult with their members, take advices  and do their best in the circumstances. Don't worry Dublinfella , TD won't be going away in a hurry. They are a tough breed of people down that neck of the way.
A bit of a way to go before you can go gravedancing.

[magpie seanie]

Yeah, they're not going to "Fcuk off and die" just yet.