Rugby Wrap S5 Ep 13 Fergus Lee-Warner and Daniel Bredenkamp

[NewsBot]

Fergus Lee-Warner and the Liquidators sounds like the name of a band, but it's our two guests this week as we look at the Rebels situation and catch up with one of the former Western Force stars now playing for the Tahs.



Listen to podcast on "The Rugby Wrap"

[WFDom]

Great episode this week...

Daniel Bredenkamp is a liquidation expert who breaks down the Rebels situation.

Tess was having a lot of fun with FLW.

As he said, there will be a few Force players hell bent on proving Darren Coleman wrong for letting them go!
Almost the next best thing to having Joe Schmidt visit us again!!!

[shasta]

Great episode this week...

Daniel Bredenkamp is a liquidation expert who breaks down the Rebels situation.

Tess was having a lot of fun with FLW.

Yep. Good listen. I hope F L-W does enough to at least get a squad call-up. Just not this week.

Afraid the liquidation bloke did not make the Rabble's situation much clearer for me. The "deed of company arrangement", I think he called it (?) gets the directors off the hook. The creditors have narrowly accepted that. But what happens to the dissenting creditors, specifically the ATO? Are they forced to accept the 15c per dollar outcome?

[tjs10]

Afraid the liquidation bloke did not make the Rabble's situation much clearer for me. The "deed of company arrangement", I think he called it (?) gets the directors off the hook. The creditors have narrowly accepted that. But what happens to the dissenting creditors, specifically the ATO? Are they forced to accept the 15c per dollar outcome?

Yes.
If the majority of creditors vote to accept it, then that is the deal that applies to ALL creditors.
Likewise, if a majority voted NOT to accept the DOCA, the minority can't make side-deals to get themselves paid out at that rate.

[shasta]

OK. But I still find it unbelievable that the ATO can be sidestepped so easily. I don't know the legalities but common sense tells me that the tax office is not a regular "creditor" who willingly supplies goods or services. So I expect the tax liability will be still be payable in full by the Rebels if they continue to trade.

[Burgs]

OK. But I still find it unbelievable that the ATO can be sidestepped so easily. I don't know the legalities but common sense tells me that the tax office is not a regular "creditor" who willingly supplies goods or services. So I expect the tax liability will be still be payable in full by the Rebels if they continue to trade.

My understanding is-
1. Liquidator in full
2. ATO in full or by arrangement
3. Wages in full
4. Secured Creditors
5. Good luck unsecured