Page last updated at 09:29 GMT, Tuesday, 3 November 2009

Club seeks Derry City liquidation

Brandywell stadium
Derry City says it is working towards meeting its financial obligations

Dungannon Swifts has decided to seek the liquidation of Derry City FC.

The board of the Dungannon club claim Derry City owe them £30,000 from the deal to transfer their former player Niall McGinn to Celtic in January.

Swifts' chairman, Jarlaith Falloon, said that because Derry City have missed a payment deadline they can apply to have the club liquidated.

In a statement Derry City said the club was "aware of its obligations and is working towards meeting them".

On Monday, representatives from Derry City met sponsors, creditors, local businessmen and politicians to place the club's current financial problems on record.

Derry City transferred Northern Ireland international McGinn to Celtic in January, but have so far failed to pay McGinn's former team their agreed share of the deal.

Mr Falloon said the Dungannon club had "absolutely no second thoughts" at pursuing liquidation.

"The board of Dungannon Swifts is absolutely infuriated with the treatment we have received from the Derry City board," he said.

The statement from Derry City continued: "We have a lot of creditors including some of the more high profile ones like Dungannon Swifts.

"The club will be engaging in a series of meetings this week after which it will be in a much better position to deal with the situation at hand."

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