Coleraine Football Club, which was threatened with closure a year ago, was told on Wednesday that its future is secure once more. In the High Court, the club was formally taken out of the hands of an administrator appointed last September.
The court approved the move of the Friends of Coleraine which bought the club from the previous owners in May.
It is understood that the company which formerly owned the club, Coleraine FC Ltd, will now go into liquidation.
Debts incurred during its tenure will be dealt with by a liquidator.
It was on August 3, 2005, that the Inland Revenue, which was owed �365,000, applied for an order to wind-up the Bannsiders.
At the time, it was disclosed that the club - formed in 1927 - had other substantial creditors and altogether owed around �1m.
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