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Interesting piece. Seems Linda is arcing up because of The Sunday Time stories. Good on her
Nick Taylor
Tuesday, 5 December 2017 6:48PM
Rugby Australia chief executive Bill Pulver.Picture: Nic Ellis
Pressure has stepped up on the Australian Securities and Investment Commission to investigate Rugby Australia’s controversial dealings with the Melbourne Rebels ahead of axing the Western Force from Super Rugby.
A senate inquiry into the future of the sport made initial recommendations for the powerful corporate watchdog to investigate when their report was handed down last month.
WA Liberal senator Linda Reynolds, who relentlessly pursued details about RA’s sale of the Rebels to private owner Andrew Cox in 2015 and subsequent transfer to the Victorian Rugby Union earlier this year, has added further weight to the call.
“Recently published media articles have included information that appears to contradict the evidence provided to the committee,” she said.
“I believe an ASIC investigation into the matters raised in the senate inquiry report and now the additional media reports is the only way to get answers for Western Australians on the circumstances that led to the culling of the Western Force.”
More here
https://thewest.com.au/sport/rugby-u...-ng-b88682098z
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
I really do hope ASIC bite at this.. I reckon if they get a small nibble they could end up with a feast for the ages!
Hopefully this finally brings The RA and subsequently the RA Board down with it then we can end this slow moving trainwreck once and for all!
I would put that up on their Twitter and Facebook page.
I see that Omar Hassanein's wife Bree is now working for the IRB. Omar is working as head of IRUPA in Ireland and is an ex team mate of Cheika's at Randwick.
https://www.worldrugby.org/contact
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
Just re-read one of Nick Taylor's articles on the dirty dealing e mails and saw something I didn't take notice of initially....
our view is that we will need a Deed of Amendment for the put option as the mechanism it currently contains for transferring ownership of the Rebels to the VRU doesn’t work for what we are all contemplating here — see clause 2.3(a) of the put option for example.
“We can instruct (legal firm) Clayon Utz to draft the Deed of Amendment if you are happy with this?
“Otherwise, there is the Deed of Release between the Rebels, AC (Cox), PS (Peter Sidwell a member of Cox’s consortium) and the other unitholders which it looks like you have in hand.”
The part about the "Deed of Release" refers to Cox, Sidwell and the other unit holders. I know that, seeing as the email was from the Rat's Arse's legal council with CC to Puller, they were well aware of what was planned. But I'm wondering whether the deed referred to will shed light of the so far IIRC, unknown unit holders. I imagine ASIC can demand those documents and maybe uncover anything dodgy with the trust parties. It at the least shows Rat's Arse were aware of the trust well before both the Force's "exit" and the senate inquiry as well as being actively facilitating the $1.00 fire sale.
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
God I hope Tim North, Gray and Clarke are revealed as trust holders.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
This is what Tim North said in the Inquiry about the trusts.
I have run an ASIC search in to Imperium Sports Management and these documents may provide information in who the shareholders areSenator REYNOLDS: In terms of your professional qualifications, were you aware that Mr Gray, as I understand, may have ended up with a financial interest in the Imperium bid for Melbourne Rebels?
Mr North : No, with my barrister interest I think I'm more careful. I don't mean any disrespect to you, Senator, but the financial interests may have different answers. The only person who was the shareholder, as I understood it, was the company Imperium Sports Management Pty Ltd, controlled by Mr Cox. There was in fact a subtrust. Imperium Sports Management Pty Ltd was the trustee of a trust, and the Imperium Sports Management unitrust was a party to the relevant transactions. I know that people who were individuals or companies associated had interest and took units in the trust. A number of people did that. I was not one of them.
Senator REYNOLDS: You may not have been one of them. So what you're saying is that, while the licence went to Imperium, Imperium has a subsidiary trust which actually had other owners. Do you know why you weren't—
Mr North : No, I think it was a unitrust. They're not owners; they're unit holders. The only owner was Imperium Sports Management Pty Ltd, the shareholding of which should be available to you by an ASIC search and which I understood to be the interest of Mr Cox. The trust structure was not a matter that I ever fully understood.
Senator REYNOLDS: If an ASIC search identified that someone like Mr Gray, for example, had an interest in the unit trust—in effect, a shareholding and a vested interest in Imperium—
Mr North : When are you saying this occurred?
Senator REYNOLDS: Just before or just after. This is what I'm trying to establish.
Mr North : I can't assist you. I don't know the answer to that. You'd have to ask a person who was involved in the trust.
Senator REYNOLDS: As the President of the VRU, would you be concerned if, in terms of these arrangements, about which you have said the VRU was not engaged in terms of the arrangements of the details of the agreement—
Mr North : I understood that there were a lot of interested rugby people who took interest in the relevant trust either through themselves individually or through companies associated with them and that their interests were also able to be dealt with by provision to other parties over a period of time. They did not, though, affect the shareholding, which was passed by Imperium Sports Management Pty Ltd.
Senator REYNOLDS: I do appreciate your very adept legal dancing around this issue.
Mr North : I only want to be precise.
Senator REYNOLDS: My political characterisation of it—
Mr North : Sorry; I missed that point.
Senator REYNOLDS: What I understood of what you said is that you are aware that there was a unit trust or some other financial vehicle where other people with an interest in this could actually invest in Imperium, who had taken over the licence.
Mr North : I don't know whether that's appropriate either. I think the governance of Imperium Sports Management and the unit trust was a matter that I didn't have a great deal of knowledge of, nor did I have an understanding of the way in which that was dealt with.
Senator REYNOLDS: But at some point you did become aware that there was a unit trust in Imperium where—
Mr North : Yes, I was aware there was a unit trust, because the description which was given in the co-terminus transaction documents indicated that the company who was the shareholder—Imperium Sports Management Holdings Pty Ltd or Imperium Sports Management Pty Ltd—acted as a trustee for the Imperium Sports Management unitrust. That was made known to me because of the transaction documents, which were dated 19 June 2015.
Senator REYNOLDS: Okay. That's very interesting. I come back to Mr Gray for a minute. You know that some people do have an interest in that trust. You don't know yet whether Mr Gray had a 10 or 20 per cent interest in that trust. Were you aware that his son also got a job with Imperium after the deal went through?
Mr North : I understood that his son had been employed by Mr Cox for a short period of time, yes, but I don't think it lasted for any long length of time.
Name: IMPERIUM SPORTS MANAGEMENT HOLDINGS PTY LTD
ACN: 146 498 017
Registration date: 23/09/2010
Next review date: 23/09/2018
Former name(s): PROVIDENCE BEER COMPANY PTY LTD, O'HALLORAN'S HOSPITALITY GROUP PTY. LTD.
Status: Registered
Type: Australian Proprietary Company, Limited By Shares
Locality of registered office: MELBOURNE VIC 3004
Regulator: Australian Securities & Investments Commission
View Summary (PDF)
19/11/2016 7E8541138
Change To Company Details Appointment Or Cessation Of A Company Officeholder (484E)
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$19.00 Select uncertified document
$38.00 Select certified document
4/08/2014 7E6260801
Change To Company Details Changes To (Members) Share Holdings (484N)
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4/08/2014 7E6260750
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25/07/2014 7E6241028
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2
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18/07/2011 7E3818917
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19/05/2011 7E3677407
Change To Company Details Changes To (Members) Share Holdings (484N)
2
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3/05/2011 7E3641138
Change To Company Details Appointment Or Cessation Of A Company Officeholder (484E)
2
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14/10/2010 027144387
Hide sub documents Change To Company Details (484)
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Last edited by Bakkies; 08-12-17 at 04:57.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
Senator ReynoldsI do appreciate your very adept legal dancing around this issue.
North seems at pains to emphasise:...Mr North : No, I think it was a unitrust. They're not owners; they're unit holders. The only owner was Imperium Sports Management Pty Ltd, the shareholding of which should be available to you by an ASIC search and which I understood to be the interest of Mr Cox. The trust structure was not a matter that I ever fully understood.
I still wonder if that "Deed of Release" referred to in Nick Taylor's article is the key here. From the senator's "legal dancing" comment it seems important to her. As I said earlier, the communication from the Rat's Arse legal officer to North and Pulver seems to prove the collusion and North is at pains to distance himself from knowledge of the parties to the sub-trust. He also seems to differentiate between the "shareholder" -available from ASIC - and the unit holders - "they are not owners; they are unit holders". Don't know if that is significant, but I don't imagine a legal officer of his standing does that for no reason.
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
Without any legal background whatsoever it appears to be an attempt to isolate the unit holders from any accusations of wrongdoing, as they don't have any control of the Melbourne Rebels, they only profit from them.
It appears to be a well planned and implemented attempt to lay all the legal blame at the feet of Andrew Cox while the other people who are involved in the Unit Trust keep the profits.
What's the bet that Tim North doesn't actually hold a unit, but through some magical, plausibly deniable, twist of fate he has some shell company set up which does hold a unit and funnels the money back to his lying arse.
C'mon the![]()
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Should be as they are subject to tax on profits. Alison is going to look in to it.
As for Tim North having shell companies surely that would show up on a director's search?
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
I'm sure young Tim would know ways to get around the inconvenient legalities. Possibly have some dupe set up an investment fund where the dupe is the director and Tim is the only client, give the dupe a couple of percent of the proceeds and viola, Tim is purely an innocent client!
C'mon the![]()
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Don't you mean shelf companies?
Pity there is no equivalent of companies house in Australia where you can search for directors.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board