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Thread: Senate hearing - Wednesday

  1. #166
    Player lou's Avatar
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    Quote Originally Posted by sandgroperrugby View Post
    2.88 The ARU, however, told the committee that no decision was made until the announcement was made on 11 August 2017 because insolvency remained a real possibility for the Melbourne Rebels:

    As part of our process of negotiating with the Melbourne Rebels we got to the point where we were able to conduct due diligence on the Melbourne Rebels. And it was clear to us at that point that there were serious financial concerns which could potentially result in an insolvency event. In fact, at the 12th hour minor shareholders within the Melbourne Rebels came forward with incremental capital to prop up the enterprise, which removed it from the prospect of insolvency.[105]

    2.89 The committee have since been made aware through a confidential submission that the ARU suggested Imperium exercise a put option and were involved in negotiations which cleared Melbourne Rebels debt thereby allowing the put option to the Victorian Rugby Union to be exercised. These events took place in June 2017 and effectively made it impossible to end their licence.
    nice work

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  2. #167
    Veteran beige's Avatar
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    Good outcome.

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  3. #168
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    3.16 Whilst the comments were made in a slightly different context, one submitter noted that the ARU's decisions to privately transfer a licence or to remove a team could be contrast with the process run to gain entry to Super Rugby:
    By way of contrast. [sic] the process in which WA gained admission to the Super Rugby competition in 2006 was totally transparent with formal expressions of interest sought, published criteria for assessment, opportunity to present cases, independence and objectivity in the decision-making process etc.[13]

    3.17 Mr Rob Clarke, who was the Chief Executive Officer of the Melbourne Rebels at the time of privatisation, confirmed that no public expression of interest was sought.[14]

    3.18 Despite the private nature of the process, the ARU received two bids for the financially struggling team, one from a group of Melbourne business people led by Mr Alan Winney and a second from Mr Andrew Cox and Imperium.[15]

    3.19 The committee also received confidential evidence that additional stakeholders may have put in bids if they had known the team was for sale.

    3.20 Submitters also raised concerns about the terms on which the Melbourne Rebels were sold to Imperium.

    3.21 Under the terms of the agreement, the licence was transferred to Imperium debt free, for zero consideration.[16] The sale agreement also included two opportunities for Imperium to exercise a 'put option'.[17] Halsbury's Laws of Australia describes a put option as 'the right, but not the obligation, to sell the subject matter of the option to the writer [another party] at a pre-determined price'.[18]

    3.22 The committee heard that in order for the Melbourne Rebels to become debt free, the ARU forgave $13 million in loans to the Melbourne Rebels.[19] In addition to this, the committee understands debts to other creditors owed by the Melbourne Rebels were also paid. In response to a question by Senator Reynolds, Mr Clarke stated:

    3.26 Mr North confirmed the existence of a unit trust associated with Imperium which provided unit holders with an interest in the company.[26] Confidential evidence provided to the committee asserts a member of the Victorian Rugby Union board had an interest in that trust

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  4. #169
    Veteran zimeric's Avatar
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    is there any scope for a class action against FURA/FUARU/ERA/Rats Arse?

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  5. #170
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    See the submission by the contributor with a Worksafe background.

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    '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

  6. #171
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    Composition of the Board

    3.61 Submitters from grassroots organisations expressed concerns about the way that ARU Board members are appointed.

    3.62 One grassroots submitter explained the nomination process:

    Elevation to the ARU Board only happens via a nomination from the Nominations Committee, a committee that is appointed by the ARU Board. No outsiders are permitted.[64]

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  7. #172
    Immortal Contributor shasta's Avatar
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    Interesting to hear Senator Reynolds say that Rat's Arse tried to depthcharge the inquiry. There are some powerful people in Canberra with past(?) Rugby links. They might not be listed on any "Friends of...." lists. But they are there nonetheless.

    Looks like they may have been approached but got told to bugger off.

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  8. #173
    Rookie wasmute's Avatar
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    If people are bored now how about emailing the story & report link to media outlets to see if we can get some media attention for it. Here's a few I found:
    news@watoday.com.au.
    sport@theaustralian.com.au
    australia@theguardian.com
    contact@9news.com.au
    cos@thecouriermail.com.au
    contactus@networkten.com.au
    haveyoursay@bbc.co.uk

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    #FU ARU
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  9. #174
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    Did anyone see the final additional comments by the Labour Senators?

    Looks like they were supporting the ARU and said that the Inquiry should never had gone ahead.

    1.1 Labor members of the committee consider it regrettable that the matters covered by this inquiry ever reached this stage.
    1.2 We understand that many in the rugby community remain unhappy with the Australian Rugby Union's (ARU) decision regarding the Western Force and that some in the rugby community hold concerns about the processes leading to that decision.
    1.3 However, it is unfortunate that these issues have had to be referred to the Senate for inquiry and were not addressed earlier through other means.
    1.4 Labor committee members note the evidence provided to the inquiry by ARU Chairman Mr Cameron Clyne and ARU Chief Executive Officer Mr Bill Pulver, which addressed many of the concerns raised about the removal of the Western Force and the processes around that decision. We also consider that Mr Clyne clearly explained in his testimony to the inquiry why the ARU did not consider reinstating the Western Force to be an option, despite promises that were made by third parties.
    1.5 Australia's National Sporting Organisations (NSOs) are not immune to challenges and difficult decisions.
    1.6 Labor believes NSOs should be supported to deliver strong, viable, successful elite and professional level competitions along with increased opportunities for grassroots participation for all Australians.

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  10. #175
    Veteran zimeric's Avatar
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    Labor should be careful who they upset. Theyve only just been voted into power over here...

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  11. #176
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    Classic rear-covering, and perhaps why Senator Reynolds emphasised it was a unanimous report.

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  12. #177
    Immortal Contributor shasta's Avatar
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    Quote Originally Posted by zimeric View Post
    Labor should be careful who they upset. Theyve only just been voted into power over here...
    ......but they are facing an election Vic next year.......

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  13. #178
    Legend Contributor fulvio sammut's Avatar
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    And a Federal one by next February.

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  14. #179
    Immortal Contributor shasta's Avatar
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    ....not that I'd dream for one minute that insignificant issues like elections would influence their decision making.....

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  15. #180
    Immortal Contributor shasta's Avatar
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    Senate hearing wants ASIC to look into ARU
    - SBS.

    A senate inquiry into the axing of the Western Force has called for the Australian Securities and Investments Commission to review Rugby Australia's business dealings with the Melbourne Rebels.

    The inquiry has also recommended ASIC reviews the financial circumstances reported in RA's annual reports against the evidence presented to the committee.

    The inquiry concluded that the decision to axe the Force was a "foregone conclusion" that was probably made on April 9, 2017 - four months before the franchise was officially culled.

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