The former Blues chairman has initiated legal proceedings against the FAI in Ireland after failing to have his case heard in the United States
According to the Irish Times, McCarthy, a lawyer, has initiated legal proceedings against the governing body of Irish football, its chief executive officer John Delaney, as well as the current owner of Limerick FC, Pat O'Sullivan, and his company, Munster Football Club Limited.
He has also initiated proceedings against the Limerick District Management Council, which owns the football ground, Jackman Park.
"I think there was a wrong," he told the Irish Times. "And I hope to have it redressed."
McCarthy believes that he did not receive the support that he claims had been promised by the association and members of its senior staff prior to his investment in the club.
He had previously attempted to sue the association in the United States in 2011, but failed to have his case heard and is now seeking to have it heard in Ireland.