Falcons get new backing
CREDITORS of West Perth Football Club have accepted four cents in the dollar owed to them.
They voted unanimously at the Joondalup club on Tuesday for the payment figure and to support the deed of company arrangement put forward by the WA Football Commission.
Administrator KordaMentha considered the four-cent proposal the best option for the club, which went into voluntary administration in July with debt of nearly $800,000.
Chief executive Linda Hamersley, appointed at the start of the season, said when the deed was executed, the administration period would cease.
The club could be operating under administration for up to another three weeks, but the administrator wanted the deed executed within a week.
“The unanimous vote was a show of support for the administrator’s recommendation that the club be allowed to continue to trade going forward,” she said.
“Our members and supporters have rallied over the last six weeks to ensure we raised enough funds to operate.”
The deed also allows the WAFC to appoint an interim board. The board could be appointed within a week.
Hamersley, the former boss of Hockey WA, said guiding the club through a tough period had been a learning experience.
“To get to the situation of having to go into administration means the organisation is financially very vulnerable to liquidation,” she said. “The uncertainty of that for staff and creditors is unsettling.”