too easy to blame the FAI for everything.
Whoever Lee Powers legal advisors were on the Waterford Takeover should have received cast iron written assurances from the FAI that this was not an issue as part of the Due Diligence process.
They either did'nt (or they would be simply asking the FAI for a cheque now) or more likely is it would have been raised as an issue by any half competent firm and that Power ignored the advice based on "reassurances" daft approach to business.
People are always looking for someone else to blame, the 3 year rule was well known and Waterford went ahead with the structure knowing that.
Bookmarks