Strapped Rebels in danger of folding

[Tazzmania]

Now issues with Rugby Victoria:

Rugby Victoria now facing questions over missing financial documents

Rugby Victoria has filed just one annual report to the consumer regulator since it took control of the Melbourne Rebels in 2017 – the same year it admitted the Super Rugby club was bleeding millions, and there was “significant doubt” it could continue operating as a going concern.

The governing body of rugby in Victoria – which owned the debt-riddled Super Rugby franchise until it entered into voluntary administration last month – could not explain why it had failed to submit any annual reports to Consumer Affairs Victoria since 2018, despite being legally required to do so....

The six-year administrative failure was uncovered after this masthead made a request to Consumer Affairs Victoria for Rugby Victoria’s annual reports on Friday. The regulator soon contacted the organisation to chase the missing documents.

Consumer Affairs Victoria has been unable to explain what appears to be a massive governance failure, and declined to respond to detailed questions about how this oversight was possible.

Rugby Victoria president Neil Hay was adamant that all the required annual reports and financial statements had been completed, but could not explain why they had not been submitted to the regulator.

“They’re done every year – so why weren’t they sent? I’ve got as much of an idea as you,” Hay said on Monday.

Hay said an email to Consumer Affairs Victoria containing the missing documents had been drafted, with a plan for it to be sent by Monday evening.

The regulator was approached on Tuesday to confirm whether it had received the documents.

[The InnFORCEr]

despite being legally required to do so....

How could they possibly know that they were legally required to do this, it's not as if they had anyone with any legal knowledge on the board....

[GIGS20]

Now issues with Rugby Victoria:

Rugby Victoria now facing questions over missing financial documents

Rugby Victoria has filed just one annual report to the consumer regulator since it took control of the Melbourne Rebels in 2017 – the same year it admitted the Super Rugby club was bleeding millions, and there was “significant doubt” it could continue operating as a going concern.

The governing body of rugby in Victoria – which owned the debt-riddled Super Rugby franchise until it entered into voluntary administration last month – could not explain why it had failed to submit any annual reports to Consumer Affairs Victoria since 2018, despite being legally required to do so....

The rest behind a paywall

"I'd like to explain why we haven't submitted the annual reports that we were legally required to do.

However I can't because it will then become clear that we knew we were trading whilst insolvent which is an offence that carries a bigger penalty than not submitting documentation"

[Burgs]

Added the rest of the article to Tazz's post

[jargan83]

Rugby Victoria has the governance of a turnip.

[Sheikh]

Rugby Victoria has the governance of a turnip.

I think you may be maligning turnips

[shasta]

But seriously, it was a malfunction with Tim North's matter transporter. The stream was hit by a solar storm and accidentally beamed to the office of The Big Giant Head somewhere in the Cepheus+Draco System. I don't see the problem.

[GIGS20]

After 20 minutes, rebels are setting up for a belting in front of about 15 people. They're not making the decision hard are they?

[Burgs]

After 20 minutes, rebels are setting up for a belting in front of about 15 people. They're not making the decision hard are they?

I'll reserve judgement on the crowd until watching us (despite acknowledging your point around the extra incentive for Melbourne) but yeah, for "arguably the best Rebels Squad ever" they aren't performing yet.

[GIGS20]

I'll reserve judgement on the crowd until watching us (despite acknowledging your point around the extra incentive for Melbourne) but yeah, for "arguably the best Rebels Squad ever" they aren't performing yet.

Our crowd clearly bigger, our performance equally badThat judgement from a one eyed force supporter.

[Tazzmania]

Extract from PWC letter to creditors 23/02/2024 (Confirmation of Extension):

"............
On 21 February 2024, the Administrators and Directors agreed to the following conditions with respect to the
extension to the convening period:

a) that funding to meet the reasonable costs of the administration for the period of the extension must be
provided to the Administrators within 72 hours of a cost estimate (or updated cost estimate) being provided
to the Directors;

b) details of the proposed DOCA must be submitted by close of business on 22 March 2024, including
confirmation that the key stakeholders required to participate in or agree to the DOCA are supportive of the
DOCA proposal, or a later day where the Administrators consent;

c) if the above details are forthcoming to the satisfaction of the Administrators, the Directors will then be
afforded a further 21 days to negotiate and finalise the draft DOCA proposal for inclusion in the
Administrators’ report to creditors ahead of the second meeting;

d) if the Administrators form the view at any point in time that the proposed DOCA is no longer a viable option,
they will convene the second meeting of creditors after providing 72 hours’ notice to the Directors; and

e) the Administrators will act reasonably and work with the Directors to formulate a suitable DOCA for the
benefit of all creditors.

The Court was informed of the above conditions prior to the Orders being made.
................."

[The InnFORCEr]

The 72 hours have expired.

[GIGS20]

The 72 hours have expired.

not judging by the elastic stopwatch at Rugby Australia it hasn't

Still another 3 months to go

[jargan83]

Our crowd clearly bigger, our performance equally badThat judgement from a one eyed force supporter.

What was our crowd? 7,855?

That's pretty average.

[shasta]

What was our crowd? 7,855?

That's pretty average.

Yep. I've only missed a few games since the move to Perth Oval and I know I wasnt alone in thinking it was more. I thought at least 10000+.