Hi Bakkies, I am have a brainfart and cannot find the transcripts on that site. Can you point me in the right direction?Quote:
Originally Posted by Bakkies
Hi Bakkies, I am have a brainfart and cannot find the transcripts on that site. Can you point me in the right direction?Quote:
Originally Posted by Bakkies
insolvency
ɪnˈsɒlv(ə)nsi/Submit
noun
noun: insolvency; plural noun: insolvencies
the state of being insolvent.
"the club was facing insolvency"
synonyms: bankruptcy, liquidation, failure, collapse, ruin, financial ruin, ruination; More
pennilessness, penury, impecuniousness, beggary;
administration, receivership;
informalfolding;
rarepauperdom
"the firm is on the brink of insolvency"
antonyms: solvency
Take out the ARUs overfunding and the MRRU fullfils all of the definitions and synonyms of insolvency. They would have been bankrupt, in liquidation, considered a failure, collapsed and faced financial ruin. The question then becomes did the ARUs overfunding of the MRRU breach the ARUs fiduciary duties to the sport of rugby. I would say yes. The ARU has responsibilities to its constitution that it has failed around growth and participation, to employ best management practice, to employ best financial practice and act in Australian rugbys best interests. Fail after fail. Now we are hearing allegations of embezzlement and insider trading on top of breaching the trade practices act around disclosure and deceitful conduct, false financial reporting, false documents being used to support a false financial report, a false evaluation process announced on April 10th, breaching the subsequent Alliance Agreement, undisclosed conflicts of interest, making false representations to the Senate inquiry, facilitating embezzlement and money siphoning by lack of due diligence and checks and balances, aquisition of assets by deceit, failure to seek options and best deal when selling the Rebels, reputational damage to Rugby and contempt for the state of WA and WA rugby.
Bottom of page, type rugby union into the Hansard search bar.Quote:
Originally Posted by JSJ
file:///G:/admin/Senate%20inquiry/Community%20Affairs%20References%20Committee_2017_ 10_16_5625.pdf
I had trouble too, try this
They are in the column that has html and pdf. If you can't find it try Jackster's link.Quote:
Originally Posted by JSJ
Quote:
Originally Posted by Kalahard
In regards to Imperium, Sen. Reynolds is referring to technical insolvency (balance sheet) which is different to cash flow insolvency.
This is the definition of technical insolvency
'Technical insolvency is the inability of the firm to meet cash payments on contractual obligations. The lack of cash to meet accounts payable, wages, taxes, interest, and debt retirement will constitute technical insolvency, even if the enterprise has adequate assets and generates both economic and accounting profits.'
It appears Imperium were trading while technically insolvent in NZ as they had hotels and TGIF as business arms then went and purchased the Rebels for a dollar. Did they meet their directors responsibilities while technically insolvent when approaching the ARU to purchase another business?
https://legalvision.com.au/risks-insolvent-trading/
Thanks Kala, Bakkies, and Jackster. Got it.
Bottom of page, type rugby union into the Hansard search bar
jeez dont get on the wrong side of Kala ;)
Agree with Kala 100%. There is only one organisation responsible for the mess rugby is in in Australia and that is the ARU.
I share the frustration of Alision, Jules, UAUdiver and others about the media virtually ignoring the ARU skulduggery exposed so far by the Senate Inquiry.Quote:
Originally Posted by UAUdiver1959
It set me thinking that we need to write our own "ARU newsletter" and target it to 1000+ rugby club committee members in NSW, Qld, and ACT, highlighting the incredible wasteful spending of the ARU on the Rebels and VRU. All the juicy bits direct out the inquiry transcripts, about the ARU millions siphoned off by Cox, the $13mil loans to Vic written off etc
These 1000+ grassroots rugby people are the ones that are struggling to keep the clubs afloat and are desperately waiting for handouts from the ARU, which they are not going to get. These are the people that elect the NSW, Qld, and ACT boards, who in turn elect the ARU board. We could send out a newsletter about once a month aimed directly to the political power behind the ARU throne.
We don’t want to waste time and emotion bleating about our Force being unfairly axed. They don’t care about us, but they do care about their own clubs and kids not getting ARU funding.
I am sure the Senate Inquiry will give us plenty of material for a few months , and then next year we keep an eye on the ARU and VRU finances etc and keep stoking the fire.
It is not hard to find the email addresses. Just look up the clubs on google and they all list all the committee under contacts. For example their 6 email addresses for Easts, the first club I looked at. http://www.eastsrugby.com.au/Contact
I will be happy to contribute, but need somebody more skilled to polish it up.
Your thoughts?
Not a bad idea, actually. But I don't agree that none of them care. I would put it more that they have not paid attention and largely accept that one team had to go - but they largely didn't think it should be the Force. During the time leading up to Clyne/Pulvers announcement and through the appeal process we had a heap of support in the East. So I wold start any such campaign with thanking them for that. Then go on to explain what really went down.Quote:
Originally Posted by JSJ
Its a brilliant idea, these clubs are obviously not going to hear about the Inquiry if none of the media have reported on it, and especially the national/eastern state media, there is pretty much zero coverage out there which is embarassing really. Makes me wonder if the ARU have threatened the media outlets with ties to TV networks that they won't get preferential bidding treatment for any Wallaby tests if they dont comply (by preferential im refering to the stabdard shady ARU practises that have been exposed already in this Inquiry). Foxsports have conveniently ignored the Inquiry too and they pride themselves on being a "proper" sports news channel, laughable really!Quote:
Originally Posted by JSJ
To set up a newsletter you would need to gather up a spreadsheet of all the emails to every club which would take some time and effort and copy then into the email and BCC the addresses and send it. The address you would sebd it to would be a professionally named email because otherwise every club would see the address of every other club, would be pretty close to looking like spam. That is why you woukd group BCC it.
I dont know how you would present the facts in a way that inspires a grassroots Rugby revolution, but I would certainly love to see if it can be done.
I wasted a lot of time writing long individual factual letters to the ARU directors. They definitely dont care about us. Yes, we have to make it plain that the ARU axed the wrong team, if money was their problem and cost saving is the goal. The ARU and Rebels caused the financial problems, not the Force.
Our very own spreadsheet! Yes, I have done that on a smaller scale before.
Yes, we dont want to over do it, as then we will get blocked as spam.
Happy to help! Not so good on the technical stuff but can type and do data input..