Rink Corp (Devils and Steeler) Liquidated (Merged!)

Yep I paid in full with cash last Wednesday morning so before the news broke last Thursday, to say I was gutted is an understatement and still not feeling a hundred per cent sure after last night as a certain PR kept referring to those who are paying by DD's. Talk about trying to wriggle off the hook, why can't anybody give a straight foreward answer. And was it only me that heard some contradictions during the Q & A's by PR, so basically not convinced at all....... :roll: :x
 

Gospel

Active Member
The way i understand it is that money that has already been paid for ST's in full or had a direct debit taken out of an account is lost as it was paid to the old company Rink Corp. People who are paying by direct debit will have their money going towards the new company and that money will be used to run the new company.

Whats happened to the money already taken i dont think can be answered until the administrator has dealt with everything, sadly.
 
Thanks for that info. I thought that would happen, so does that mean the ones that paid in full with cash will lose their money and season ticket because if so that is so wrong that we wasn't warned what could happen so we could make a decision whether to pay or not.....damn that man :twisted:
 

TheStub

Active Member
Devildebs said:
Thanks for that info. I thought that would happen, so does that mean the ones that paid in full with cash will lose their money and season ticket because if so that is so wrong that we wasn't warned what could happen so we could make a decision whether to pay or not.....damn that man :twisted:
If he had done that he would have admitted that the company was insolvent. If he had continued to trade after that point he would have been committing fraud.
 
TheStub said:
Devildebs said:
Thanks for that info. I thought that would happen, so does that mean the ones that paid in full with cash will lose their money and season ticket because if so that is so wrong that we wasn't warned what could happen so we could make a decision whether to pay or not.....damn that man :twisted:
If he had done that he would have admitted that the company was insolvent. If he had continued to trade after that point he would have been committing fraud.

Thanks Stub, that is a point
 
Just found this on wales online


CARDIFF Devils WILL have the financial backing to launch another Elite League ice hockey trophy challenge in 2011-12.
Cardiff set a world record number of 22 consecutive victories last season and were edged out in the title chase after a season described as 'Devils best in 10 years'.
"I can pledge that the team playing budget will be no worse off in the coming season than we were during the season just ended. We were in 4th/5th place in the League in terms of our spending in comparison to other clubs and we will be in that position again," said owner Paul Ragan.

"There will be a small decrease, but I will give the coach and the team 100 per cent commitment in terms of what we can do. We need everybody around the club to get behind us and help Cardiff Devils move forward again."
Player-coach Gerad Adams joined Ragan on the stage in front of around 250 passionate Devils fans at Koko Gorillaz in Cathays.
Former Cardiff player Brent Pope, now Devils Community Foundation manager, chaired the fans forum last night and talked of 2010-11 as being the best season for a decade.
The fans forum was called to talk about the future of Cardiff Devils and Adams said: "We are going to get it right. Don't in any way panic and think we are not going to be competitive.
"Be patient. We will get there."
Devils still need to sign six more import players, having already recruited four - Adams, Max Birbraer, Mark Smith and Kenton Smith.
Adams has already signed his British players including goaltender Stevie Lyle, defenceman Mark Richardson and forward Phil Hill.
"When Neil Francis (bench coach) and I go through our player recruitment we are not in a situation of luxury where we can make changes mid-season," said Adams. "That's a process which can cost thousands of pounds.
"We need to be exact and precise in our recruitment. Devils lost out on two very good players, one of whom decided to stay in North America and try for a new NHL contract.
"We have other offers out and we are going for the players we believe will be right for Cardiff Devils. Yes, we could go out and recruit a team, throw a bunch of names out there but that's not what we want to do.
"Our target is to create that perfect core of players with the right fitness, mental attitude and ability.
"We got it right last season and we are working hard to do the same again.
"Cardiff won't put out a middle of the pack team out there. Looking around the League nothing is fearful. I look around and believe we are in a great position.
"We have a strong core of Brits and four imports we really wanted. We are going to get it right."
Elite League will again have 10 teams for the 2011-12. Newcastle Vipers have withdrawn, but Fife Flyers are back in the top flight.
They join Cardiff, Sheffield, Nottingham, Belfast, Coventry, Dundee, Braehead, Edinburgh and Hull.
Devils have so far signed only four import players out of their 10. They are player-coach Gerad Adams, Max Birbraer, Kenton Smith and brother Mark Smith.
The parent company of Devils, Rink Corp, has gone into liquidation, but that will not affect players already signed for next season.
"I have talked to all those players apart from Kenton Smith, who is away in North Carolina and difficult to contact," said Adams. "They are all committed to Cardiff Devils. I have gone through the Rink Corp situation with each player and they were delighted I had talked them through it.
"If I felt there was a problem I would be looking hard at what we were doing, but I am going nowhere. I am comfortable that we will again have a competitive team."
Ragan praised Adams saying: "It's a pleasure to work with a coach in Gerad Adams who is committed to working within a budget and ensuring the longevity of the Cardiff Devils.
"Gerad did an outstanding job recruiting players last season - and we must trust him to do the same again. He builds a team which is one unit."
Cardiff Devils will celebrate their 25th anniversary in 2011-12 and will open with a pre-season Festival of Hockey at the end of August which involves age group and Elite League teams plus a match between former Devils and Steelers players.
John Lawless, Vezio Sacratini, Mike MacWilliam and Doug McEwen are among the former Devils players who have said they would love to return.
Ragan believes the Festival of Hockey will still go ahead over the last weekend in August, although he will be looking into the finances of the weekend.
A week later, Devils are due to open the 2011-12 Elite League season against Nottingham Panthers away on Saturday, September 3 and at Cardiff Bay Arena the next evening (6pm).



Read More http://www.walesonline.co.uk/sports/ice ... z1QaGAovVD
 

Foxy

Well-Known Member
Interesting just picked this up on steeltalk. Maybe the sheffield dealings were a step to far!

Well if there isn't a six figure sum then we won't make it until the end of October will we. According to Tony Smith himself, him pulling out of investing this sum into Rinkcorp helped lead to it's liquidation.
 
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