This was published 1 year ago
Updated ,first published
Rugby Australia has accused melbourne Rebels’ directors of misusing tax funds forwarded by the national body amid revelations the Super Rugby club had been trading while insolvent from at least 2018.
A statement issued by Rugby Australia on Thursday followed the release of the administrator’s report, which supported a proposed rescue deal put forward by the club’s directors to stave off liquidation.
The rescue deal paves the way for the directors to sue Rugby Australia if the governing body refuses to hand back the team’s licence.
If creditors – owed a total $23 million – vote against the proposal, Rebels directors could face personal liability of $16.8 million for the club’s extensive losses, amid revelations the team had been trading while insolvent from at least 2018.
The administrator support for the deal was outlined in an…