The High Court has heard there is "cautious optimism" that a scheme of arrangement can be put together for the survival of the company which runs Shamrock Rovers football club.
However, the court was also told yesterday that the Football Association of Ireland (FAI) is seeking further clarification of some financial information regarding the club.
During an application for the appointment of an examiner to Branvard Ltd, it was stated there are seven separate parties interested in investing in the club. Branvard has debts of €2.36 million with more than €540,000 of that amount due to the Revenue Commissioners in PAYE and PRSI arrears.
Ms Justice Mary Laffoy appointed accountant Neil Hughes as examiner to Branvard Ltd, which trades as Shamrock Rovers. On April 12th last, Mr Hughes was appointed interim examiner. Following yesterday's appointment, the judge allowed 60 days from April 11th last (when the petition for appointment of an examiner was first presented) for the drawing up of a survival package.
The judge also indicated yesterday that if matters arose from the FAI's concerns which might impinge on the success of the examinership, the issue could come back to court.
She had been told that, late on Friday night last, the FAI had sent a letter to Branvard seeking further clarification relating to the accuracy of certain issues as part of the licensing process for clubs in the Eircom Premier League.
It was a matter with which the examiner would have to deal, the judge was told. When the interim examiner was appointed on April 12th last, the High Court was told that the club had hoped to move to a new facility at Tallaght but that problems had arisen and there had been negotiations with South Dublin Co Council to see if an alternative neutral home ground could be obtained.
The club has used several grounds since leaving its long-term base at Milltown, Dublin, in 1987. Yesterday, Gary McCarthy, for Branvard Ltd, said that, since the case was last before the court, great progress had been made towards securing the future of the club. There had been discussions with Fingal County Council with a view to the club playing at Morton Stadium, Santry, Dublin, while the problems in relation to the Tallaght ground were being sorted out. He added that there was an extraordinary amount of goodwill for the club. There was cautious optimism for the company's survival.
Referring to the FAI's letter, which had been received late on Friday last, counsel said it had raised concerns but it did not affect yesterday's application to any great extent. If the club's licence were to be revoked, that would be the end of the club to a large extent, he said.
Mr Hughes, in an affidavit opened by Richard Lyons , said there had been preliminary discussions with the seven parties interested in the company. He had also received several responses to his advertisement for the role of commercial manager of the company, including one from a former senior executive with an English Premiership club.
An issue remained in relation to the FAI licence to participate in the Eircom Premier League and discussions were ongoing on that matter. The licence question needed to be resolved very soon to allow him secure the investment required to ensure the club's survival, Mr Hughes said.