My experience is that seeking security for costs is a standard move when dealing with entities that are subject to insolvency, a DOCA, etc.this is a going to be sadly a waste of time and money for all parties here. A sign is the surety needing to be put up.
Rebels were my second team and hope we see them back but when you have the ATO offside, you aren't starting from a position of strength.
What do you speculate MRRU are looking for here?5 March update - Pacific Equity Partners (PEP) Capital solutions have submitted requested documented under subpoena. Both parties will inspect and report back for a hearing on 12 March.
Looks like they've found the right part of PEP for documents. Should be a fun week of reading for the MRRU Lawyers.
Also noteworthy was the absence of RA lawyers at the hearing. Is this typically a normal occurrence to ghost this type of hearing (fairly procedural by the looks of things).
Edit: with link to court orders: https://comcourts.gov.au/file/Federal/P/VID1059/2024/3995751/event/32155042/document/2449450
What do you speculate MRRU are looking for here?
The Rebels not only claim RA was aware of their financial situation at “all times”, but also that there is “extensive evidence” they were assured that a large private equity deal was imminent and would provide a financial lifeline to rugby in Australia
What do you speculate MRRU are looking for here?
Thanks both - will grab the popcornWhat SC said. Probably other things too, al to support a narrative of unconscionable conduct. Might explain why it's been hard to the find the right PEP company. Feels like a bit of a shell game.
Interested to understand Deloitte SRT role in all this. Their brochureware website indicates work on "End-to-end advisory solutions by Deloitte member firms help unlock and preserve value in mergers and acquisitions, restructuring, investigations and disputes". Whether that's pre or post voluntary administration, I dunno.
Deloitte were hired in January to advise RA on their own restruture. When RA took on the Rebels license after the Rebels declared insolvency and lost the Super Rugby licence, RA had to make a bunch of their own staff redundant (as well as work out the player strategy eg all of those Tahs who were let go to make room for the contracted Rebels players)Interested to understand Deloitte SRT role in all this. Their brochureware website indicates work on "End-to-end advisory solutions by Deloitte member firms help unlock and preserve value in mergers and acquisitions, restructuring, investigations and disputes". Whether that's pre or post voluntary administration, I dunno.
You were interested in super rugby for the 15 years prior to the rebels existence tho?I was reflecting last night watching the AFL on how my sports viewing had changed since the demise of the Rebels. I hadn't particularly bothered with AFL and NRL whilst Super Rugby was running since high school. I always got back into it later in the season when there was less rugby to watch. With the demise of the Rebels this is the first time I haven't felt the need or the want to subscribe to be able to watch Super Rugby games in over 25 years. As of last night both the Storm and Hawks are flying and on top of their respective ladders. I've also had Melbourne United in the NBL Grand Final series. I'm well covered for compelling sport. I'm starting to wonder how hard it will be to get back up to speed by the time the Wallabies start playing, especially if the teams I've been watching for four months prior are still competing every week at a high level and challenging for premierships.