Waterford United FC fans campaign to strike out Winding-Up Petition
July 30 2013
Waterford United’s survival was confirmed after an application to wind up the football club was struck out. Former director of Waterford United, Mr Stephen Henderson, had petitioned the Irish High Court to have the club liquidated.
The winding up application was brought after the club failed to satisfy an Irish Court judgment of Euro 37,600 made in favour of Mr Henderson. However, Waterford United FC supporters successfully campaigned to prevent the club from being wound up. The supporters group raised large amounts of money (in the region of tens of thousands of pounds) to stop the club from being wound-up at the High Court.
The Club have confirmed they have also received donations from other football fans. Many pledged money in order to aid the prospect of striking a deal to save the club, with one fan giving up his salary for a year to help the company escape certain insolvency.
A deal struck with Mr Henderson allowing Justice Laffroy to strike out the winding-up petition. The terms of the settlement agreement were not revealed in open court. The settlement is understood to be confidential.
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