FAI being sued for '€280,000 investment loss'
Published 14/01/2014 | 02:30
A FORMER director of Limerick Football Club is suing the FAI over what he says are losses on his investment.
John McCarthy III, who was also chairman of the club and previously promoted high-profile friendly games in the US, claims he lost about €280,000 as a result of his purchase seven years ago of a company called Limerick Thirty Seven FC Ltd, operators of Limerick FC.
The High Court heard yesterday that the FAI is to seek security for costs of the case if his action goes ahead. Mr McCarthy, an Irish-American lawyer from Princeton, resigned in November 2009 as a director of Limerick FC. He claims he lost his entire investment in less than two years. The case was adjourned until February 6.