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Thread: Brumbies members launch action to unearth missing millions

  1. #1
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    Brumbies members launch action to unearth missing millions

    The plot thickens.

    Brumbies members launch action to unearth missing millions

    Wayne Smith, The Australian: APRIL 5, 2016

    A group of Brumbies’ 20-year members, backed by some of the presidents of the Canberra clubs, are about to launch a civil action in the Federal Court aimed at recovering some of the “tens of millions of dollars” missing from ACT Rugby’s coffers.

    The action is aimed at past and present Brumbies directors and a range of individuals — understood to have been mentioned in the KPMG file that forms the basis of an Australian Federal Police investigation — who were meant to be acting in the interests of the Brumbies, seeking money lost, along with damages.

    It is believed the action, which is expected to be launched later this week, will claim that directors breached their fiduciary responsibilities and/or were guilty of deceptive conduct and that money that should have flowed to Canberra club rugby from the sale of the Brumbies’ former headquarters at Griffith was not paid.

    Ironically, although the action is geared, in part, at individual Brumbies directors, any money gained will go directly back into Brumbies coffers, once the litigation funder who is indemnifying the members has taken his cut.

    The legal action is the latest instalment of the devastating internal conflict that has flowed from the Brumbies board’s decision to stand down chief executive Michael Jones on March 21. Jones the next day went to the Supreme Court with 120 pages of documents and hit the Brumbies board with a wrongful dismissal claim. Justice Richard Refshauge has reserved his decision but allowed Jones to return to work while gagging the board.

    As a result, a meeting that was to have been held last night between the board and the Canberra club presidents was cancelled. The presidents had wanted to discuss a range of issues, of which Jones’ dismissal was only one, but it is believed chairman Rob Kennedy felt nothing meaningful could be discussed while the injunction remains in place.

    Meanwhile, a whole range of Supreme Court subpoenas served on the Australian Rugby Union, University of Canberra officials, ACT government leaders and the Brumbies board for all their private emails and phone calls relating to Jones must be returned within 14 days.

    Jones was acting on the directive of the board when he referred anomalies relating to the sale of the Griffith property and the subsequent decision to locate the Brumbies’ headquarters at the University of Canberra to the AFP for investigation.

    Prior to the deal a sports consultancy business conducted a study checking the options of where the Brumbies could go once they had sold their headquarters. There were 28 options, the top 10 of which basically offered peppercorn rent, similar to the $1-a-year rent the Canberra Raiders NRL side pay for their facility.

    The University of Canberra was not in the top 10. The explanation sometimes given was that UC had gone to the ARU to pay $500,000 a year for five years to basically buy the Brumbies, but that deal never proceeded.

    Yet the Brumbies’ financial problems, which amounted at the time to about $2 million, should have been wiped out by the sale of their Griffith property. It was thought the club would make around $20m on the deal. Instead, it made $11.387m. The club then invested $7.2m in a UC building that it had no equity in.

    Jones, though he was not at the club at the time, sought explanations about the deal when he joined the club in 2015 and when nothing plausible was forthcoming he went to ARU chief executive Bill Pulver who immediately recommended the matter be investigated by Phil Thomson of the code’s Integrity Unit.

    Thomson, a former federal policeman, quickly realised that the matter was too complex for his unit to investigate, at which point KPMG were called in. KPMG recommended it be taken to the AFP, which it was, first informally and then formally — and all with the Brumbies board’s approval. Yet it has been Jones alone who has become a lightning rod for the storm that has blown up around the issue, with the Brumbies directors effectively now wanting to be rid of him and the problem.

    It is understood that he went to the March 21 extraordinary board meeting believing he would be permitted to present a strategy for fighting the smear campaign directed against him, only for the directors to gag debate.

    Within 14 minutes, the decision had been taken to stand him down. Precisely what that means, no one entirely knows.

    The board justified its decision on the fact that he had given an inflammatory interview to ABC’s Grandstand on the previous Saturday but it emerged yesterday that Jones had learned just 54 minutes before going on air that the board was likely to withdraw its support and desert him.

    http://www.theaustralian.com.au/spor...416cd333640461

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    Immortal jargan83's Avatar
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    Is this still a story to distract from the Waratahs woes?

    But in seriousness it certainly looks as if the proverbial has hit the fan in Canberra.

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    Champion MI5_Dog's Avatar
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    The proverbial has not hit the fan in Canberra.
    The Brumbies board sold the fan to persons unknown so they can rent another fan for about the same amount but that fan hasn't shown up yet.

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    Immortal GIGS20's Avatar
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    Nice work Dog, I note from your analogy that the proverbial is still in Canberra!

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    C'mon the

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    Immortal jargan83's Avatar
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    It's not called the most boring shithole in Australia for no reason.

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    Champion MI5_Dog's Avatar
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    Quote Originally Posted by GIGS20 View Post
    Nice work Dog, I note from your analogy that the proverbial is still in Canberra!
    and you're assuming I was referring to an artificial wind making machine as opposed to the type of person who would find rugby in Canberra entertaining enough to fork out money to watch it.

    The Brumbies Board really would be throwing the proverbial at their fan(s) if they hadn't sold it/them (out)

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    It is all pretty entertaining stuff, but the real fun is imagining how this would be playing in the press if it had happened at the Force...

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    Immortal GIGS20's Avatar
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    Quote Originally Posted by MI5_Dog View Post
    type of person who would find rugby in Canberra entertaining enough to fork out money to watch it.

    The Brumbies Board really would be throwing the proverbial at their fan(s) if they hadn't sold it/them (out)
    You're right there, I had only briefly considered that possibility. BTW I would gladly buy a ticket to watch this shitstorm develop

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    C'mon the

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    Talk about a shitstorm alright! It just goes to prove some of the arrogance around the boards and admins. Not being sinister, but i wonder if Mr Sinderberry will be dragged into any of this shit being a former CEO of the brumbies?

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    Champion oxleymoron's Avatar
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    Was after Sinderberry's time there. However the current CEO of the Adelaide Crows was around at the time of the sale.

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    Immortal Contributor jono's Avatar
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    Quote Originally Posted by jargan83 View Post
    It's not called the most boring shithole in Australia for no reason.
    Not at the moment!
    Election blackmail in Parliament
    Nags might actually be going to the glue factory

    All good fun

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    Legend Contributor brokendown gunfighter's Avatar
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    western sydney brumbies has a nice ring to it

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    Interesting to see local presidents are in a position to enforce a special general meeting
    The local comp presidents sold out a few years back giving control to a Redpath led regime that leads local rugby up the garden path
    That is why the force and local comp are in such a mess as they are accountable to no one

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    Veteran chibi's Avatar
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    Isn't a brumby a mountain horse anyway? Penrith is calling I wonder...

    "Blue Mountain Brumbies"

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    Japan and the Pacific Islands for Aussie Super 9's!

    Let's have one of these in WA! Click this link: Saitama Super Arena - New Perth Stadium?

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    Senior Player Herbasimplex's Avatar
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    Quote Originally Posted by chibi View Post
    Isn't a brumby a mountain horse anyway? Penrith is calling I wonder...

    "Blue Mountain Brumbies"
    Brumby is any wild horse.

    Australian brumby = American mustang


    So....west sydney wild horse rugby

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    Last edited by Herbasimplex; 06-04-16 at 16:38.

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