WP Rugby (Pty) Ltd in crisis, confirm liquidation

Discussion in 'ABSA Currie Cup' started by TRF_heineken, Nov 8, 2016.

  1. TRF_heineken

    TRF_heineken RIP #J9

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    [TEXTAREA]The Western Province Rugby Football Union confirmed on Monday that it had applied for, and obtained, an order for the provisional liquidation of Western Province Rugby (Pty) Ltd, in which it is a 75% shareholder.

    The union provided the following assurances:

    (1) Although Western Province Rugby (Pty) Ltd is being placed into liquidation, the union will not be affected by the liquidation - the union is a voluntary association which is independent of WP Rugby (Pty) Ltd;

    (2) As a member of SARU the union is the ultimate custodian of both amateur and professional rugby in the Western Province. The union will ensure that the various Western Province teams continue to function as they normally do and that the contracts of players remain secure;

    (3) All sponsorship agreements will continue to be honoured; and

    (4) All Western Province Rugby (Pty) Ltd’s current liabilities as at end October 2016 have been settled in the ordinary course of business.[/TEXTAREA]

    So basically it's just the company that is being liquidated, but that it won't affect the union, as the article suggests.

    Somehow, I don't buy that. I think there's something else going on there that they don't want to tell us. But as long as Wakefield and his chronies are in control, it won't get better at one of the top unions in SA.

    http://www.sport24.co.za/Rugby/wp-rugby-to-liquidate-professional-arm-20161107
     
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