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Thread: Unit trusts in Imperium

  1. #16
    Senior Player Bakkies's Avatar
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    Quote Originally Posted by BLR View Post
    Didn't Xenos say he tried to get ARU minutes at one point but apparently it wasn't made available to him which shocked him?

    Would it not be the case with any potential trust that the minutes are either not available to be released or simply gone?
    Isn't a illegal to not release minutes of a meeting to a member of the board?

    As per the NSWRU fiasco not for profit organisations can't misuse funds to prop up individual or company debts.

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    Last edited by Bakkies; 12-10-17 at 04:54.

  2. #17
    Champion Tonkar's Avatar
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    Quote Originally Posted by Bakkies View Post
    Isn't a illegal to note release of a meeting to a member of the board?

    As per the NSWRU fiasco not for profit organisations can't misuse funds to prop up individual or company debts.
    You mean the Jim Williams house loan... That cost Nick Farr jones 150k

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  3. #18
    Senior Player Bakkies's Avatar
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    Quote Originally Posted by Tonkar View Post
    You mean the Jim Williams house loan... That cost Nick Farr jones 150k
    Yep pretty sure that Farr Jones had to 'borrow' the money has he didn't have the funds on him to help Williams.

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  4. #19
    Champion Tonkar's Avatar
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    Quote Originally Posted by Bakkies View Post
    Yep pretty sure that Farr Jones had to 'borrow' the money has he didn't have the funds on him to help Williams.
    He had the Funds but used the NSWRU money and when the manure hit fan he had to cough u the $150k from his own funds lol

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  6. #21
    Champion SinBin's Avatar
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    Quote Originally Posted by BLR View Post
    Didn't Xenos say he tried to get ARU minutes at one point but apparently it wasn't made available to him which shocked him?

    Would it not be the case with any potential trust that the minutes are either not available to be released or simply gone?
    Yeah, I think you're right. For Imperium's Unit Trust ownership, I'm sure minutes will be manufactured on a request only basis It's the ATO reporting that I was angling at plus who the trustees/directors are on record - I'm sure Linda Renolds will be/have checked.

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  7. #22
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    Quote Originally Posted by BLR View Post
    Didn't Xenos say he tried to get ARU minutes at one point but apparently it wasn't made available to him which shocked him?

    Would it not be the case with any potential trust that the minutes are either not available to be released or simply gone?
    Doesn't he represent RUPA on the ARU board?

    How the hell can he do that without access to minutes?

    Members/Shareholders have a right to access minutes, let alone directors

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    C'mon the

  8. #23
    Legend Contributor Alison's Avatar
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    No, RUPA don't have a rep on the board. The board is made up of "independent" business people.

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    Immortal Contributor shasta's Avatar
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    Seems there has been a little confusion about who can vote at an AGM/EGM. State Unions, Super Franchises and RUPA have voting rights - not board reps. The "old" system had NSW/Qld firmly in control with 8 votes to 6. The reforms made that 6-10 with the addition of Super franchises seemingly taking control out of the "Heartlands 2". Could have fooled me with the way the ARU board shat their pants after Sydney "luminaries" threatened mutiny at the end of the 2016 season - IMO the catalyst for the whole charade. The knee-jerk reaction of cutting the Force has put the odds slightly more in favour of the Sydney cabal at 6-9. However with the addition of ACT and Vic votes it's 10-5.

    It might be interesting to see the shenanigans if Super Rugby were to implode in a couple of years from now. I imagine with a 10-5 vote margin none of the current purple circle will give an inch and fight to retain those votes in any constitutional revamp. Back to the future.

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    Champion sittingbison's Avatar
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    As said numerous times, it needs to be wound up, and replaced with entirely new structure not beholden to Sydney school boys, a NATIONAL body with the NATIONS interests at heart. You know, the AUSTRALIAN Rugby Union

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  11. #26
    Senior Player Bakkies's Avatar
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    Quote Originally Posted by sittingbison View Post
    As said numerous times, it needs to be wound up, and replaced with entirely new structure not beholden to Sydney school boys, a NATIONAL body with the NATIONS interests at heart. You know, the AUSTRALIAN Rugby Union
    Both the ARU and Sanzaar need to be wound up and rebooted.

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  12. #27
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    Quote Originally Posted by shasta View Post
    I know SFA about privately owned/unit trust operations. What I wonder though, is whether some of this suspected skulduggery (and seemingly suspected by people way more knowledgeable than I am) might attract the interest of the ATO, if not ASIC or the AFP.
    I know a bit about trusts. The governing document for a trust is the trust deed. You can write almost anything you want into a trust deed as long as it meets the general principles of "trust" law. They are also not under the supervision of ASIC unless the trustee is a company. The ATO will certainly be interested in any trust operating in Australia....but only if it is earning taxable income. The AFP may be interested if money laundering is going on.

    The interesting thing with trusts is that there is often a "power behind the throne". Who and how are the trustees appointed? What powers do various office bearers hold? What happens to the trust funds if the trust is wound up? What happens to distributions of income or capital? This is all laid out in the trust deed.

    Trusts are very handy vehicles to legally do underhand activities.....just saying.

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  13. #28
    Senior Player Bakkies's Avatar
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    They are also not under the supervision of ASIC unless the trustee is a company.
    It appears in this case there was a company in Imperium Sports Management.

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  14. #29
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    what assets do imperium sports management have now they no longer have the rebels?

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  15. #30
    Senior Player Bakkies's Avatar
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    I see that Imperium is no longer doing the recruitment for the Rebels.

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