Creditors told to see cents
WEST Perth creditors can get back 4 per cent of what they are owed or get nothing.
That is essentially the message after administrator KordaMentha released its recommendations this week into the finances of the Joondalup WAFL club, which went into voluntary administration last month with about $790,000 debt. It means if the Falcons owe a creditor $100,000, the entity would get just $4000 back.
The four cents in the dollar proposal, which KordaMentha considered the best alternative, forms part of a deed of company arrangement put forward by the WA Football Commission.
The deed would also give the WAFC the power to nominate its own board and includes a $250,000 loan from the commission for West Perth staff and player payments.
If creditors voted for the club to fold instead of accepting the 4 per cent option, the KordaMentha report said they would get nothing.
A third option for creditors would be to hand control of the club back to the board. KordaMentha did not recommend this take place given the club would be back where it started.
The creditors were due to make a decision on Tuesday, but required more time. A decision is expected to be made early next week.
DEFENCE will be key against South Fremantle in the qualifying final at Fremantle Oval on Saturday.
They have a lot of players who work into space and can hurt you by foot.
But our ball movement has really improved this season so the Bulldogs will need to be just as wary of us going back the other way.
It will be a game between two evenly matched sides.
Michael Lourey, Jay van Berlo and Mark Hamilton will come into the team after missing our last match.
As is always the case at finals time, it leaves me with the hardest part of the job in having to omit players at the most important stage of the season.
We’ve got some new guys in the system who will be playing their first final.
But they’re fortunate to have wisdom around them from a big group of finalsexperienced players as well as a few from the premiership side of 2013.
The players were buoyed this week by an inspirational speech from premiership midfielder Matt Guadagnin, who announced his retirement.
He is one of the best players I’ve coached.
People will probably look at his career and think there was nothing fancy about him, but he was just one of those players you wanted to play in your team.
That’s the reason we gave him as much as opportunity as possible to get his career back up and running after he had a knee reconstruction in 2015 and then a bad run of hamstring injuries after that.
We knew what he could bring to the table, not just from a playing point of view, but in terms of leadership and direction as well.
I’m really proud to have been associated with him.
Jay van Berlo will return to the West Perth line-up against against South Fremantle on Saturday.