TOPIC:

Sounds like its already out and about BC, Gareth had a good chunk of it.

Dwert wrote:

Bazza wrote: From Gareth Parker this morning...

Korda Mentha report reveals..

The WAFL conducted an player payment audit in Sep 2016 and found irregularities these were reported to the then CEO, subsequent minutes of board meetings made no mention of the WAFL report being tabled by the CEO.

In May 2018 The new CEO attended a WAFL briefing but had no documents of the 2016 irregularities as they had never been actioned by the previous CEO.

In 2016 a Club Member made an urgent donation of $100K

The board has not so far been implicated in insolvent trading,. but auditors are saying further investigation needed.

WAFC are preparing a deed or arrangement to bail WP out.

Wow Bazz this is now becoming very dodgy...Isnt the previous CEO for WP who is implicated in this saga now employed by the WAFC? Umpires Coordinator comes to mind?

At a recent social event and friend who is a umpire adviser informed me that there some concerns in that fraternity due to their payment arrangements being changed without notice and payment was being held over, no word since but ......... .

www.kordamentha.com/getmedia/74127349-0f...Creditors-Final.aspx

The_Duck wrote: www.kordamentha.com/getmedia/74127349-0f...Creditors-Final.aspx

What’s in the report Duck? closed only open to creditors..

Sounds like we are screwed ...

Unsecured creditors have been offered 4 cents in the dollar

This is absolutely disgusting on the part of the WPFC, the final creditors meeting has been delayed one week will be interesting

Bazza wrote: Unsecured creditors have been offered 4 cents in the dollar

This is absolutely disgusting on the part of the WPFC, the final creditors meeting has been delayed one week will be interesting

Assuming that’s the offer then will be interesting to see what the result of the creditors vote will be.

Basically vote YES and get 4 cents in the dollar or wind them up and get 0 cents in the dollar.

Where’s all the fundraising money going? Paying off creditors via a side agreement, or lining the coffers to go again?

What could possibly change in one week?... my guess it will be wound up!

It will be a desperate travesty if WP stop being who they are and those who allowed this to happen go unpunished, they deserve to put under scrutiny by the corporate regulator and held to full account.

My feeling is that they will do a Glasgow rangers, fold and phoenix the club as joondalup something or other with the WAFC being the controlling entity.

One of the big issues for me is still VW and JCC controlling so much of what happens. Why or how can VW be allowed to call the meeting off and reschedule it (that is how I read the news in the worst), it is this type of shackle that in my opinion has contributed to the issues.

Been delayed because Venues West have a board meeting to accept or decline the offer. Normal good governance. They are government agency-they will accept.