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Thread: Pressure on ASIC to investigate Rugby Australia’s Melbourne Rebels dealings

  1. #31
    Player lou's Avatar
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    Here is an interesting read:
    http://asic.gov.au/about-asic/media-...-penalty-case/
    it involves the Directors of Centro : ASIC alleged that the seven directors of Centro Properties Group and Centro Retail Group failed to discharge their duties with due care and diligence in approving the financial reports for Centro Properties Ltd, Centro Property Trust, and Centro Retail Trust for the year ended 30 June 2007...ASIC sought orders to disqualify the directors and officers from managing corporations and asked the Court to impose pecuniary penalties on them.
    and further:
    ASIC Chairman Mr Greg Medcraft today welcomed the Federal Court’s decision in its case against eight directors and former executives of Centro Properties Group, citing it as a landmark decision in Australian corporate governance.

    Mr Medcraft said Justice Middleton’s judgment on the legal duties of directors and management sent a clear message to boardrooms across the country about corporate accountability.

    ‘The central question in the proceeding was whether the directors were required to apply their own minds to, and carry out a careful review of, the proposed financial statements and the proposed directors report, to determine that the information they contained was consistent with the director's knowledge of the company's affairs, and that they did not omit material matters known to them or material matters that should have been known to them,’ Mr Medcraft said.

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  2. #32
    Champion valzc's Avatar
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    ARU have probably sinned quadruple the amount of Centro - the levels of corruption over the years ( and that's only what we know about) would no doubt make Centro look like chicken feed! What I'd like to know is how long and how much pressure did it take to get ASIC to finally make a move on them, because I'd love to see ASIC get stuck into the RA as soon as possible before the crooks get a chance to delete any of the evidence. Sooner the better!

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  3. #33
    Veteran Bakkies's Avatar
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    Quote Originally Posted by valzc View Post
    ARU have probably sinned quadruple the amount of Centro - the levels of corruption over the years ( and that's only what we know about) would no doubt make Centro look like chicken feed! What I'd like to know is how long and how much pressure did it take to get ASIC to finally make a move on them, because I'd love to see ASIC get stuck into the RA as soon as possible before the crooks get a chance to delete any of the evidence. Sooner the better!
    The evidence is already there and there is an agreement with NZ to request their records.

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    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

  4. #34
    Champion valzc's Avatar
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    Name:  DC5EA720-48FB-4567-9911-347423B43A06.jpg
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Size:  189.2 KBSunday Times today: Let’s keep the pressure on ASIC to do the job!

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  5. #35
    Champion valzc's Avatar
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    How in God’s name does this deal of 4.5mill & some Test matches in a non rugby state, compare with Twiggy’s $50mill, support by Wa Gov & a brand new stadium FFS! Just proves that there’s a whole lot more of underhanded deals were done involving Clarke & North & some other arseholes between ARU & Vic Gov.

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  6. #36
    Legend Contributor blueandblack's Avatar
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    Quote Originally Posted by valzc View Post
    How in God’s name does this deal of 4.5mill & some Test matches in a non rugby state, compare with Twiggy’s $50mill, support by Wa Gov & a brand new stadium FFS! Just proves that there’s a whole lot more of underhanded deals were done involving Clarke & North & some other arseholes between ARU & Vic Gov.
    Maybe those listed didn't personally benefit under the Twiggy proposal.

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  7. #37
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    Quote Originally Posted by valzc View Post
    How in God’s name does this deal of 4.5mill & some Test matches in a non rugby state, compare with Twiggy’s $50mill, support by Wa Gov & a brand new stadium FFS! Just proves that there’s a whole lot more of underhanded deals were done involving Clarke & North & some other arseholes between ARU & Vic Gov.
    This is good news!It looks like ASIC have been given the info from the whistleblower and will act on it

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  8. #38
    Immortal Contributor shasta's Avatar
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    OK; so if Nick is on the mark, The Victard government strong-armed Rat's Arse into handing over 4.5 mill (5 years forward income) for Test Match funding straight to the Rabble. On top of the 15+ million they have already chucked into the Melbourne Money Pit.

    This is a better deal than a Twiggy guaranteed sustainable Force and forward funding for Test matches from the WA Government?

    Can company directors be sent to the Big House for being a rabble of raving frikken morons?

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  9. #39
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    No doubt they strong-armed them but I read it as EXTRA money on TOP of the Test match funding.
    Anybody get the link? I can't find one.

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  10. #40
    Immortal Contributor The InnFORCEr's Avatar
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    Bubba is gunna love the fresh meat coming his way!!

    If they don't all get locked up, let's just hope that all lose the ability to be Directors or Board Members of any companies in the future and that North is debarred as well. Take away their ability to earn a single cent of public money ever again and expose them as the frauds they are.

    There was no chance of them doing a deal with Twiggy, it was lip service to try and cover these underhanded dealings.

    Have fun over on The Roar.

    Just fantastic news all round really

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  11. #41
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    Here it is

    Australian Securities and Investment Commission to examine Melbourne Rebels dealings
    Nick Taylor | PerthNow
    January 14, 2018 12:34PM
    https://www.perthnow.com.au/sport/we...-ng-b88713091z

    In The West too which is good
    Australian Securities and Investment Commission to examine Melbourne Rebels dealings
    Nick Taylor
    Sunday, 14 January 2018 12:45PM
    https://thewest.com.au/sport/western...-ng-b88714040z

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  12. #42
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    Going to be a busy first day tomorrow for the new CEO, good luck Raelene.

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  13. #43
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    Anyone who lives in Victoria needs to get on to their Liberal or Nationals MPs to make their Labor/Green state government accountable for signing on a deal that is under ASIC investigation.

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    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

  14. #44
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    The instalments part of that special funding agreement looks remarkably familiar to another special funding agreement involving the Melbourne Rebels........

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  15. #45
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    Shows what investigative journalism can do.

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    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

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