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THE HIGH COURT has confirmed the appointment of an examiner to League of Ireland side Limerick FC.
Justice Tony O’Connor confirmed insolvency practitioner Conor Noone of Baker Tilly chartered accountants as examiner to Munster Football Club Limited, which trades as Limerick FC.
The company, represented by Gary McCarthy instructed by solicitor Barry Lyons, had petitioned to the court to place the company in examinership, on the grounds that if certain steps were taken it could survive as a going concern.
The application was opposed by Revenue Commissioners, which is a creditor of the company.
Represented by Arthur Cunningham Bl, Revenue had argued that the application for examinership should be refused on grounds including that the club is not commercially viable.
Revenue claimed that there were issues about the club getting a licence to play in the league of Ireland and that it would not get a tax clearance certificate which it requires to get a licence.
Counsel also cited an ongoing investigation into alleged match-fixing by gardaí, the fall in ticket sales, that the club’s main sponsor had gone into liquidation, as other factors why the club should not be allowed enter examinership.
Revenue’s claims were rejected by McCarthy who said that an independent expert’s report showed that the company’s problems were capable of being solved if the examinership was allowed to proceed.
In his ruling, Justice O’Connor said he was satisfied that the legal criteria had been fulfilled that would allow the court to confirm Noone as examiner to the company.
The judge said that he was taking into consideration contents of the Independent Experts report, which stated that while the company was clearly insolvent, it had a reasonable prospect of survival in the event of a successful examinership.
The judge also remitted the matter back to Limerick Circuit Court, given the size of the company.
Noone, who was appointed examiner on an interim basis last week, has up to 100 days to put together a scheme of arrangement with the League of Ireland First Division side’s creditors which if approved by the Courts would allow the company continue to trade.
Noone, represented by Ross Gorman Bl during today’s hearing, will also continue to seek fresh investment in the club.
Gorman said there have been expressions of interest by potential investors in the club, which has debts of approximately €490,000.
He added that since his appointment Noone has held talks with the Football Association of Ireland, which he said have set out the criteria that must be met before the club could get a licence allowing it to compete in next season’s league.
The court heard previously heard that in order to secure the club’s future company director and club chairman Pat O’Sullivan is willing to hand over control of the football club to a new investor to ensure the continuity of the club into the future.
In seeking the protection of the court from its creditors the club said its financial difficulties are due to reasons including recent match-fixing allegations against certain of the club’s players, payments of player’s expenses.
The club cited its relegation in November 2018 from the League of Ireland’s Premier Division as another reason why it has gotten into difficulty.
The club’s relations with the FAI and the body that represents professional players in the league the PFAI were also strained.
In addition solidarity payments to the club from the Football Association of Ireland, and UEFA, which the club expected to receive at the start of the current season, have failed to materialise.
Other matters that impacted on the club include the threat of strike action by the club’s players, issues over the club’s licence to play in the League of Ireland, its tenancy at the Markets Field stadium in Limerick where the team plays its home games, declining attendances and the failure to attract sponsorship.
The matter will return before the courts in October.
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Is John Delaney still being paid?
@eoin carroll: It’s all been hushed up as usual.. The papers went mad on it for a few weeks and obviously somebody stepped in and told the media to stay away from Delaney and the FAI
@eoin carroll: Yep, with Limerick’s money.
Always sad to see any club in the league of Ireland in trouble, People only care about watching their British teams in action on a Saturday on sky, my British club is better than your British club etc
@Alan Brazil: no harm in supporting both once you pay in at home. But your right it’s a shame
@Alan Brazil: its a pity alright I like football but don’t love it, I can’t understand how Limerick people who love Man Utd, Liverpool etc wouldn’t go watch live football on a Friday, you can do both. I’ve been to a few and really enjoyed it
@Alan Brazil: it’s been this way since the 1930s when the emigrated Irish returned home with their stories and their scarves. Then all you could here on the wireless were the English matches on the BBC. And now its ingrained and part of our culture. Itll take something big to change it all. And theres no sign of that on any horizon
@Alan Brazil: Its nothing really to do with British clubs really, it’s the big divide between junior and season football in the city! Junior games being played at the same the Limerick play take 200-300 away from games easily! Then the club do f all to promote matches, you wouldn’t even know they were playing tonight only for knowing the LOI fixtures. The club killed any interest people had in it, Pat O’Sullivan numerous times banned the main supporters group because they felt he wasn’t running the club the right way! Turns out they were correct
Been watching them all my life sad to see them being in this bad a shape…. but I don’t think the city of limerick have done enough to help or advertise for limerick FC as they would for rugby and hurling
Payments from the FAI and UEFA not materialising may be a God sent given that all they have proved to do with it is waste it. FAI need to set some serious expenditure rules and audit the clubs at random once a year.
@Tommy C: The FAI can’t even manage their own books
Are the Garda investigating or under investigation for corruption.
Not very well written sentence and possibly liable.
@Steven Powell: You’re right actually. The words “by Gardai” should be after the word investigation. Ironically for someone commenting on editing and grammar, you’ve spelled libel wrong!
Will JP take over ?
Pitty some great games in the Irish League, but run by Self serving people in the IFA Who are only interested in themself s.
@Paul Whelan: the poor farmers get the blame for everything!
@Paul Whelan: Do you mean the League of Ireland and the FAI? The Irish League and the IFA are in the north.
That explains the match fixing!!
@Above Average Joe: it wasn’t match fixing it was spot fixing on fouls and yellow cards
@Colm Connolly:….Let me entertain you
Limerick sporting city
@Colm: It is actually. As is Cork and Dublin. Rugby and Hurling going well, golf got the major Ryder Cup boost, plenty of other fantastic sports in the city. Junior soccer is flying it as probably the countries most consistent FAI Junior Cup sides. Pity about the senior soccer side, but like big city sides Shels and Cork City, sometimes clubs can be too ambitious on shaky foundations. A great drive to the upper half of the Premier League was followed by a significant fall. They’ll be back and hopefully sort out something with the Junior sides to sustain a stable Premier League club in the city rather than a poor First Division side and a load of excellent Junior sides. Limerick, great spot
I will never understand so called football fans in Limerick sitting on their backsides in a pub wearing Premiership clubs shirts and watching their “team” on Sky.
Manchester United, Liverpool etcetera aren’t your team and never will be.
Watching them win their bought and paid for trophies will never, ever match the highs of seeing your own team win against the odds.
Support your city rather than some club from another country who you picked because they’re successful.
@Philip Exley: What about the fans in Cork Dublin Galway etc? How many people live in Dublin and go to League of Ireland matches? The crowds in all LOI matches are very small. Corks fan base has diminished too since the decline in the clubs fortunes. Junior Soccer is very big in Limerick. Thats where the fans are going. Limerick were getting decent crowds when they were going well. It happens in every sport. Crowds decline when fortunes dip. It’s not just Limerick
Steve finnans fault
Surely Delaney can see his way to dig them out. I wonder if his legal advice allows him to do so.
It needs a. Major clear out from the top down management and long term
Players fixing matches who has faith in that
have your say