Always a Wasp
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35
Wasps Rugby Discussion / Re: Worcester - Atlas have until 2nd May to complete purchase
« on: May 09, 2023, 01:22:17 PM »]
I'll be honest: I find it hard to disagree with any of that. Very well stated.
Agree that it's hard to disagree with any of that.
However, I can't agree that it's very well stated. Strong on emotive language, speculation and rumour, but light on facts. Surely there is someone within the supporters' trust with some sort of legal/business background that could have composed a more professional submission?
38
Wasps Rugby Discussion / Re: Ben Jacobs interview
« on: April 26, 2023, 10:39:48 AM »The day rugby union goes the way of F1, I am out of the door for good. As will a lot of fans. In will come rich idiots and ruin it. The guy must have brain damage.
Bit late to worry about that!
39
Wasps Rugby Discussion / Re: Worcester - Atlas have until 2nd May to complete purchase
« on: April 25, 2023, 11:46:40 AM »
Wasps also know, as the RFU have made clear, it cannot merge in the way Atlas had proposed to catch a ride up the leagues. They might allow a merger much further down, but ...
Counties 2 low enough? There's an amateur club in Acton that would be a very good match.
40
Wasps Rugby Discussion / Re: Worcester - Atlas have until 2nd May to complete purchase
« on: April 25, 2023, 11:42:51 AM »Thanks for posting.
An interesting statement -
Begbies Traynor also says the concept of rugby creditors does not exist under the act. In fact, it is fundamentally at odds with certain insolvency principles.
Yes, as it treats certain creditors preferentially, which is not allowed under insolvency law. If Rugby creditors were paid, it would open up the new owners to legal challenges in Court for payment to all creditors. It would get expensive and inevitably end up going all the way through the civil courts, and we know how long that could take. My wife's view (as a retired Insolvency Practitioner) is that the Courts would likely rule it illegal. Meaning that the RFU is asking Phoenix clubs to do something illegal. Which would then open up the RFU liable to legal action. Wasps new owners have nothing to lose, and should go ahead even now and slap the RFU with such an action. That would wake someone there up. That might force then to remove the payment of rugby creditors rule. And also, they would then have to give Wasps and Warriors the extra time they would need.
Interesting. This issue alone could already be being challenged by either or both sets of administrators. Further evidence that the RFU doesn't know its gluteus from its humerus!