Page 2 of 11 FirstFirst 1 2 3 4 5 6 ... LastLast
Results 16 to 30 of 155

Thread: RugbyWA goes into voluntary administration after Western Force legal fight with ARU

  1. #16
    Veteran sittingbison's Avatar
    Join Date
    Jun 2011
    Location
    North Freo
    Posts
    2,800
    vCash
    5000000
    Now I wait with baited breath to see if this is reported on the roar, GAGR, Rugbydotcom, the Australian the SMH or the Telegraph. Right next to the senate enquiry articles that didn't happen

    0 Not allowed! Not allowed!
    The long sobs of autumn's violins wound my heart with a monotonous languor

  2. #17
    Champion
    Join Date
    Jul 2012
    Location
    Bullcreek
    Posts
    1,265
    vCash
    5524000
    Quote Originally Posted by sittingbison View Post
    Now I wait with baited breath to see if this is reported on the roar, GAGR, Rugbydotcom, the Australian the SMH or the Telegraph. Right next to the senate enquiry articles that didn't happen
    Jodi is doing a good job of getting it out there! I am sure Bakkies will have it posted on G&GR 👍

    1 Not allowed! Not allowed!

  3. #18
    Champion Contributor sandgroperrugby's Avatar
    Join Date
    Jan 2009
    Location
    Wattle Grove
    Posts
    2,083
    vCash
    5308000
    Why should twiggy or any of the other RugbyWA benefactors have to stump up any of their own money to a bunch of people that have been referred to ASIC? I feel for RugbyWA it just goes to show that Rugby Australia are applying a scorched earth policy as if taking the Force away wasn’t enough of a conquest for them.

    4 Not allowed! Not allowed!
    Generally speaking you aren’t learning much if your lips are moving!!!

  4. #19
    Player
    Join Date
    Apr 2017
    Location
    Perth
    Posts
    472
    vCash
    5350000
    I'm contemplating a formal Press Council complaint about the lack of coverage on the SMH's RugbyHeaven. The grounds would be censorship of public information that reflects poorly on one of their sponsors. Sort of a reverse payola, if you like.

    4 Not allowed! Not allowed!

  5. #20
    Veteran sittingbison's Avatar
    Join Date
    Jun 2011
    Location
    North Freo
    Posts
    2,800
    vCash
    5000000
    Do what all "bankrupt" entities do, put it all in the wife's name and the change the company name. People's Liberation Front becomes Liberation Front of the People etc

    Or say ARU becomes RA

    I personally like RugbyWA transmogrification into WAR

    5 Not allowed! Not allowed!
    The long sobs of autumn's violins wound my heart with a monotonous languor

  6. #21
    Immortal jargan83's Avatar
    Join Date
    Jan 2007
    Location
    Earth Capital
    Posts
    21,468
    vCash
    460000
    Good luck getting your costs back now Rugby Australia. You lot can eat a giant bag of dicks.

    2 Not allowed! Not allowed!

  7. #22
    Senior Player Macattack's Avatar
    Join Date
    Mar 2012
    Location
    Perth
    Posts
    647
    vCash
    5000000
    Well we knew they were arseholes, now we know they are bitter, vindictive arseholes..........Rugby Arseholes

    4 Not allowed! Not allowed!

  8. #23
    Champion
    Join Date
    Aug 2017
    Location
    Perth
    Posts
    1,004
    vCash
    5000000
    Quote Originally Posted by travelling_gerry View Post
    Clever move!
    A company that should consider a Voluntary Administration is one that:
    Is insolvent so needs a deal with creditors;
    Had a one-off loss or a bad trading period which caused the problems;
    Has a viable business but needs a freeze on creditors to allow time to cut debts, reduce costs and staff, and give some time to rebuild sales and profit margins.

    The objective of a Voluntary Administration is to save a company so it can continue its operations, whereas the objective of a liquidation is to finalise all of its affairs.

    0 Not allowed! Not allowed!

  9. #24
    Legend Contributor fulvio sammut's Avatar
    Join Date
    Apr 2006
    Location
    booragoon
    Posts
    5,592
    vCash
    5064000
    Bugger, who do I blame now?

    0 Not allowed! Not allowed!

  10. #25
    Legend Contributor fulvio sammut's Avatar
    Join Date
    Apr 2006
    Location
    booragoon
    Posts
    5,592
    vCash
    5064000
    Have the administrators finalized next season's competition yet?

    If not, I've got a few constructive suggestions for them.

    0 Not allowed! Not allowed!

  11. #26
    Champion
    Join Date
    Jun 2012
    Location
    home
    Posts
    2,066
    vCash
    5106000
    Much more detail here


    Rugby WA goes into administration over financial woes after end of Western Force
    Nick Taylor
    Friday, 17 November 2017 8:05AM

    The demise of the Western Force was a key factor in Rugby WA going into voluntary administration.Picture: Nic Ellis
    WA rugby union has taken another big demoralising hit, with the state’s governing body closing its doors as Rugby Australia continues to chase costs over the failed legal battle to save Western Force from the Super Rugby axe.
    RugbyWA’s dramatic move into voluntary administration, threatening the existence of the game in WA, was announced this morning after RA refused to accept their final offer towards legal fees they claim have reached $1.7 million.
    An insider said the RWA board had been left with no other option.
    “Super Rugby franchises and grassroots rugby should be outraged," he said.
    “The outcome for Rugby Australia, and therefore rugby in Australia, is almost zero cash recovery and more money is likely to be spent by Rugby Australia to pursue this claim for costs in the courts."

    Here is the link

    https://thewest.com.au/sport/rugby-u...-ng-b88663030z

    0 Not allowed! Not allowed!

  12. #27
    Apprentice
    Join Date
    Sep 2017
    Location
    perth
    Posts
    13
    vCash
    5000000
    Talk about growing the game.

    New life lessons honesty and integrity don't even matter even 5% when corruption and Graft win 100% of the time

    and why have i heard nothing about a senate hearing in the press when this is on sbs news, Triple j, perthnow, Front page of thewest.com.au. got to love a boys club the real kicker is that News.com is reporting that the Rebels have signed Wallabies (not force) players Billy Meaks and Richard Hardwick

    0 Not allowed! Not allowed!

  13. #28
    Rookie
    Join Date
    Sep 2017
    Location
    Singapore
    Posts
    57
    vCash
    5000000
    Quote Originally Posted by Jules View Post
    Jodi is doing a good job of getting it out there! I am sure Bakkies will have it posted on G&GR 👍
    Done, just posted

    0 Not allowed! Not allowed!

  14. #29
    Player LMSC's Avatar
    Join Date
    Aug 2008
    Location
    WA
    Posts
    202
    vCash
    5000000
    Quote Originally Posted by Alison View Post
    If they’ve gone into VA, doesn’t that mean the creditors have the final say as to whether the company can continue?
    No. That's only when there's an action to wind them up

    0 Not allowed! Not allowed!

  15. #30
    Champion
    Join Date
    Aug 2009
    Location
    South Perth
    Posts
    1,443
    vCash
    5010000
    O.K. let me try and summarize.

    1. Andrew Forrest made commitments to fund OUR legal case. Clayton Utz on behalf of the ARU tried to move an action through the Supreme Court in WA - when we first injuncted - that the case should be dismissed as we could not fund our legal battle. We had a number of people put their hands up to say they would help fund this battle - NOWHERE did we commit to fund their battle, accept losses, damages etc. Once we went to Arbitration and into NSW our commitment became null and void. Andrew together with us, made an offer to the ARU that exceeded 50% of their $840,000.00 claim and a commitment that over time we would endeavour to pay more. It was a "take it or leave it" offer and when left - Andrew quite rightly withdrew his offer.

    As directors we have a duty to declare that we are facing insolvency and therefore need an Administrator to continue the operation .

    Rugby Juniors and Referees WA, are insulated from this.

    Bear in mind RA have just gone through re-branding. An unnecessary cosmetic exercise. They needed votes from all unions to approve the re-branding, we asked how much did this cost, we were told $180K . sorry to say but this is Bulls$%t. Are you telling me all the graphics, changes to posters, signage, business cards, intellectual property, colour selection etc cost this little!!!!

    So much for trying to be frugal and channel funds to grass roots.

    We will be working closely with Korda to make sure we continue and keep our good people.

    Bear in mind, Andrew is still behind the Western Force and we still want to make the IPRC a success.

    To my dear fried Ali.... our hearts want to do what you suggest, but we have to do some research which will take time. World Rugby needs to be involved, finances looked at, pathways assured and the full effect needs to be thoroughly thought through, we are doing that.

    14 Not allowed! Not allowed!

Page 2 of 11 FirstFirst 1 2 3 4 5 6 ... LastLast

Similar Threads

  1. Replies: 306
    Last Post: 13-05-17, 06:46
  2. Western Force legal action becomes war of words
    By Darren in forum Western Force
    Replies: 2
    Last Post: 25-11-07, 21:13
  3. Replies: 38
    Last Post: 17-05-06, 13:27

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •