THE examiner of the company behind Limerick FC returned to the Circuit Court in Ennis on Wednesday to end the examinership process for the soccer club which has been in place since September.
Conor Noone of Baker Tilly Chartered Accountants said that while an investor had been identified, they hadn’t engaged with him in the manner required to secure a licence for First Division football nor to secure the funding for a scheme of arrangement with the club’s creditors.
When it entered the examinership process, Munster Football Club Limited, which trades as Limerick FC, had debts of approximately €490,000.
Mr Noone told the court that despite the progress made in developing a viable restructuring plan over the last 100 days, he was disappointed at the eventual outcome.
“Everything possible has been undertaken to secure the future of the company and to preserve employment at Limerick FC.”
The next step is likely to be the appointment of a liquidator.