Examiner is appointed to Limerick FC to ensure club's future
The High Court has appointed an interim examiner to League of Ireland side Limerick FC.
The appointment was made after the court heard an independent expert had said that Munster Football Club Limited, which trades as Limerick FC, has a reasonable prospect of survival as a going concern if certain steps are taken.
These steps include the appointment of an examiner who would put together a scheme of arrangement with the club's creditors, and if fresh investment in the League of Ireland First Division side can be secured.
The court heard that there have been four - including one formal - expressions of interest by potential investors in the club, which has debts of around €490,000.
In seeking the protection of the court from its creditors, the club said it is experiencing financial difficulties due to reasons including recent match-fixing claims against certain of the club's players, and player's expenses. In addition, solidarity payments to the club from the FAI and Uefa, which were expected at the start of the current season, have failed to materialise.
The court heard director and club chairman Pat O'Sullivan is willing to hand over control of the club to a new investor to ensure its future. The application returns before the court next week.
In a statement last night, the FAI denied claims that the Shannonsiders are waiting on solidarity payments from them.
"The FAI would like to point out that it does not owe money to Limerick FC who are currently in debt to the association," said the Abbotstown missive. "The FAI are confident that Limerick FC will fulfil their remaining fixtures in the First Division this season."