Province answers Aerios

Wed, 20 Sep 2017 07:18
Large paul zacks wp rugby 800

REACTION: The liquidated company Western Province Rugby (Pty) Ltd has denied it has committed fraud by not filing a Statement of Affairs. Jan de Koning reports.

This follows after rugby365 revealed on Tuesday that Aerios filed the criminal charges against the directors and CEO of the liquidated company Western Province Rugby (Pty) Ltd.

This comes at a time when Aerios and WP Rugby are in a legal stand-off in the Section 417 enquiry into the liquidation of WP Rugby in December last year.

The criminal case revolves around a requirement that the WP Rugby bosses had to provide the liquidated company's "statement of affairs" to the Master of the High Court - as required by the Companies Act of 1973.

However, a statement from the now liquidated WP Rugby (Pty) Ltd it was only 'recently' informed it had to file a Statement of Affairs.

When Justice Binns-Ward issued the final liquidation order against WP Rugby (Pty) Ltd in December last year, the directors and officers of the company (WP Rugby) were obliged to lodge the "statement of affairs" with the master of the high court within 14 days after the winding up of the company.

When Aerios asked the legal representatives of the liquidators to provide a copy of the "statement of affairs" of WP Rugby, the attorneys of the liquidators confirmed that no "statement of affairs" has been lodged with the Master - despite 10 months having elapsed since the final liquidation order was granted.

WP Rugby disputes this version of the situation.

WP Rugby's full statement regarding Aerios claims:

"With regards to the latest statement and allegations made by Aerios, WP Rugby have been advised that these allegations are unfounded and that the statement from Aerios is misleading.
 
"At the outset, WP Rugby needs to record that, in its view, this is just another attempt by Aerios to sensationalise the liquidation of WP Rugby (Pty) Ltd.
 
"WP Rugby wish to reiterate that it has continuously cooperated with the Liquidators and has furnished them all information required and will continue to do so.
 
"WP Rugby was recently requested by the Liquidators to complete a Statements of Affairs and are currently in the process of doing so.
 
"Once completed it will be delivered to the Master and the Liquidators.
 
"WP Rugby wish to categorically state that it has been advised that not filing a Statement of Affairs does not in any way constitute fraud."

By Jan de Koning
@king365ed
@rugby365com