Printable View
I had invited in inverted commas as no teams were invited to the new league.Quote:
Originally Posted by LFC in Exile
Limerick FC were invited (had no choice) to take part in the IAG process and were given an assesment and marked etc. Limerick FC won't be in the league next season has nothing to do with the FAI having a problem with Danny Drew.
If people just read the page and a half intro to the chapter "Financial Criteria" (pp 79-80) in the FAI Club Licensing Manual 2007, it gives an overview of the financial requirements of clubs.
The two key points in this are:
(in section 9.1)
UEFA's financial concept is based on the following principles:
• Regardless of its legal structure, the Licence Applicant must prepare Financial Statements based on the local legislation for incorporated companies.
These Financial Statements must be audited according to local auditing standards.
(in section 9.2)
A Licence will not be granted in the following instances:
• If the Licence Applicant has failed to submit full annual statutory accounts pursuant to the Companies' Acts, 1963 to 2001, and in accordance with Irish accounting standards (regardless of the legal structure of the Licence Applicant) to the FAI Club Licensing Department before the FAI Submission Date or the extended deadline for the submission of financial documentation (see Section 4.3) (FIN 1.01).
So, all clubs must submit accounts to the FAI by the various deadlines.
But companies must submit accounts to the Companies Registration Office. As said by a previous poster, it would be stupid of a club to submit accounts to the FAI but not submit those same accounts to the CRO!
So...what's the latest on the idiots court crusade??
Live95FM News this morning said that a full hearing is to go ahead in the High Court on tuesday.
Case being heard today.
Ruling given at 10.00 am. The long wait is nearly over.
Drew lost, as reported on our forum from someone listening to the news.
heard it on todayfm at 11 bells, listen out as i expect it to be on again at 12Quote:
Originally Posted by Galway Harps
Limerick FC also forced to pay costs. The high court ain't cheap.:ball:
Ouch :eek:Quote:
Originally Posted by LFC in Exile
On Unison.ie
The High Court has upheld a decision to prevent Limerick FC from continuing to play in the First Division of the Eircom League.
The club had applied for an injunction to stop its replacement in the League of Ireland.
It made the application after being told by the FAI in December that its bid for a licence, which would allow it to remain in the league, had been turned down.
It also lost a subsequent challenge to the FAI Appeal's Board.
Today, Mr Justice Frank Clarke upheld this decision, saying the club had seriously failed to comply with its obligation to submit management accounts.
Speaking afterwards, FAI Communications Manager Gerry McDermott said the judgment completely vindicated the licensing system.
Ignoring the fact that Shels, who now cannot compete in an upcoming prestigious tournament, got a Premier licence under the same system.Quote:
Originally Posted by joeSoap
I don't really know anything of the details of Shels' problems, but as far as I can gather, it's a simple case of not having enough money and having difficulty raising the money they need. However, all this seems to be above board and in the public domain as much as legally required. There doesn't seem to be any suggestion of dodgy dealings or lack of regulatory compliance. Hence, they are not in breach of the Licensing Criteria.Quote:
Originally Posted by paudie
Limerick FC/JRM Sports Ltd's problems were much different. They appear not to have submitted accounts for the 2005 season, suggesting that they were lucky not to have had their licence withdrawn at some stage during last season.
I gave a link to the FAI Club Licensing Manual in a previous post in this thread. I agree with most of the objectives of the licensing system: potentially it's good for football, good for the clubs and good for the fans, in the long run. I just hope that the entrance prices don't start escalating to pay for it: hopefully there will be other places that the money can be found.
Has this been put to bed or can Danny Drew bring this to an even higher court (supreme court??).
Well put to bed I'd say, especially if he got hammered for costs as well.
Well, with the taxman calling for the winding up of the company, any chance of seeing "a healthy set of books" is obviously out of the question! I don't know what, if any, set of books you saw or were told about, but it is now beyond any doubt that there never will be another set of healthy books from JRM Sports Ltd. The last set of accounts prepared was for the 2004 season, before Drew came on the scene.Quote:
Originally Posted by gael353
See: http://www.foot.ie/showthread.php?t=51923
Or more specifically: http://www.foot.ie/showpost.php?p=615479&postcount=21
But on a more serious note, if any players or staff are owed money they better read the winding-up notice and get in touch with that solicitor before 23 Feb, if they ever want a chance of seeing their money.
Now that all this crap is finally FINALLY being swept away, can we get on with getting the supporters' club organised to play a proper and full role in Soccer Limerick/Limerick37.
We need a meeting asap!