TOPIC:

I would have thought the ATO and VW would have been paid out in full before the unsecured guys got their 4 cents in the $.

They are BC I think.

astro wrote: 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.

I would have thought that good governance would have meant they had assessed the contingencies and knew exactly they would do in each case. I suspect it is abt control!

Also the ATO is a debt to the commonwealth and in normal events they will want their money and the rest can squabble for the leftovers.

BC wrote: I would have thought the ATO and VW would have been paid out in full before the unsecured guys got their 4 cents in the $.

ATO and VW would be unsecured creditors unless they have registered a security interest over some or all of the company's assets (per the Personal Property Securities Act 2009).
If the ATO has served a garnishee order this has the effect of making the ATO a secured creditor.

Unsecured creditors are all the small guys

If I was them I wouldn't accept it , I'd vote to get the Liqudators in , that way the Wafc would be force to urgently step in with cash

Duck

My suspicion about lack of action re fund
Raising proved to be correct

They haven't done any

If I was owed 100 k and the best they offered me was 4K , that's basically nothing, I'd take my chances with the Liqudators.

This is starting to worry me greatly now and is giving me the shits no end. The WAFC need to pay out these debts if for no other reason to say thank you to West Perth for the 140 year history and everything they have done to contribute to WA footy.
It does not excuse this situation and those in charge need to be removed and the WAFC can put their own bloke in charge for a couple of years but enough is enough.
Peel were given 400k. West Perth deserve a hell of a lot more than that.
The WAFC have the money to clear all of this and get on with things. What are they trying to prove here? And why are they using our oldest club to try and prove that point with.
The government bailed out the Eagles in 89. West Perth are as deserving as any football club ever in this state to be bailed out. It's a piss in the ocean the amount of money we are talking about here. The WAFC can easily cover it. These pricks better not let this club die.

Its your own board that's killed the club. If its a piss in the ocean why don't you donate it Greatwhite?

UNDER NO CIRCUMSTANCES SHOULD THE TAX PAYER FOOT THE BILL.

Greatwhiteshark wrote: This is starting to worry me greatly now and is giving me the shits no end. The WAFC need to pay out these debts if for no other reason to say thank you to West Perth for the 140 year history and everything they have done to contribute to WA footy.
It does not excuse this situation and those in charge need to be removed and the WAFC can put their own bloke in charge for a couple of years but enough is enough.
Peel were given 400k. West Perth deserve a hell of a lot more than that.
The WAFC have the money to clear all of this and get on with things. What are they trying to prove here? And why are they using our oldest club to try and prove that point with.
The government bailed out the Eagles in 89. West Perth are as deserving as any football club ever in this state to be bailed out. It's a piss in the ocean the amount of money we are talking about here. The WAFC can easily cover it. These pricks better not let this club die.

Are West Perth to repay the money - or is it just a case of here you go, no need to pay us back?