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Bye bye Spagnolo...

Gronk

Moderator
Staff member
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79,816
Ned Flanders 2 - Fat Tony 0

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13,894
I was always told to count my fingers after I shook hands with Roy. I am most assured this is not the end of the fiasco, but I can hope it is only played out in the press and in the Civil courts and not anywhere near O'Connell street.

Lets just hope we can move onwards and upwards from here on in, Having said that, when do memberships go on sale.
I am informed that memberships will go on sale Friday the 1st of November.
 

84 Baby

Immortal
Messages
31,074
I'll go counter to the popular opinion: THIS IS STUPID.

Why?

Because it just shows that the other side of the 'petty infighting group' are doing stupid things now. If Spags is 'wanted' by the constituents to run the club, then let him run it. I highly doubt anyone wants him to run it, so just let him fade away into obscurity.
By 'banning' him they're just lighting a fire under his supporters, giving them 'reason' to act, and making a rod for their own back. What happens in 2 years when this miniscule ban is over? Surely we're all seeing that Spags will be looking to come back - and if he gets back in, the 'tit for tat' rubbish will continue.

Best thing that can be done is to ignore the goons once they're gone --> don't keep making circular paths for them to come back and flex their muscles again.
Maybe you are underestimating the board on this. Perhaps the ban was a ploy to either make Spags give up for good, or force his hand in challenging, arguing, leaking to the media and whatever else to highlight his petty attitude to the constituency at large
 

Wizard Sleeve

Juniors
Messages
1,022
Now let's move onto the ones who are stealing from us legally in form of a paycheque .

Chrissy and Willie look out .
 

El Diablo

Post Whore
Messages
94,107
I was always told to count my fingers after I shook hands with Roy. I am most assured this is not the end of the fiasco, but I can hope it is only played out in the press and in the Civil courts and not anywhere near O'Connell street.

Lets just hope we can move onwards and upwards from here on in, Having said that, when do memberships go on sale.

today according to a members email
 

Green River Eel

Juniors
Messages
845
Just a thought, i wonder who roy sold property owned by our club too.

I wonder if he had links to them before he sold them, just a thought........
 

eels81236

Bench
Messages
3,668
I refuse to believe it. His mates have always said that he was pouring his own money into the joint and now this? His mates also said that he can't be dodgy because he has never been to gaol.
I don't know who to believe.
 

Gronk

Moderator
Staff member
Messages
79,816
I refuse to believe it. His mates have always said that he was pouring his own money into the joint and now this? His mates also said that he can't be dodgy because he has never been to gaol.
I don't know who to believe.

Chin up mate. I'm sure that it's all a misunderstanding. Like those phoenix companies that were in the news in 2009, leaving debts in Struggle Street.

ROY SPAGNOLO, PARRAMATTA EELS CHAIRMAN (internet footage): Just completed a shopping centre at Chipping Norton, and currently got one at - DA approved at Fairfield where we're gonna implement some 5,000 metres of shops.

NICK GRIMM: But Mr Spagnolo is also alleged to have been involved in at least eight property development companies that have gone bust leaving an unpaid tax bill of around one million dollars. While the Australian Tax Office will not confirm nor deny whether it is examining those company collapses, it does currently have a specialist unit investigating so-called 'Phoenix' arrangements.

What is a Phoenix operation?

KATE MCCLYMONT: The company is wound up rather than pay the creditors. So, in a lot of cases, the tax office is left out of the pocket. And then what happens is that person goes along and Phoenix-like, rising from the fire, they start up business again and the same pattern is repeated.
 

Wizard Sleeve

Juniors
Messages
1,022
No his go mate.



If you believe the media reports he has folded companies leaving average shareholders out of pocket ,yet he's too morally correct to have a lazy couple a thousand shares in a company that may have got a good deal on some leagues club properties ? Not saying this happened but to claim he'd have no part in it seems like a big call.
 
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19,724
If you believe the media reports he has folded companies leaving average shareholders out of pocket ,yet he's too morally correct to have a lazy couple a thousand shares in a company that may have got a good deal on some leagues club properties ? Not saying this happened but to claim he'd have no part in it seems like a big call.

That's not necessarily how this particular version of the phoenix game works. The person in question arranges for the creditors meetings (i.e. with respect to the company facing liquidation) to be stacked with 'creditors' who are in fact his mates, and who agree to accept a ludicrously low proportion of the $$ 'owed' to them. The majority decision is then binding on the other creditors (the ATO). It's true that other poor buggers (subbies) can get caught in these dodgy schemes, but that's not always the case.

PS: There are no average shareholders in the companies. They are very closely held. But the shareholders liability is limited to their unpaid capital....so effectively the ATO cannot chase the shareholders for the company debt, unless they can prove that whole arrangement is a sham
 
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Gary Gutful

Post Whore
Messages
53,881
Gary is my brother (as is Larry). I realise that you didn't infer anything about criminal allegations (I was just making it clear that I too was not suggesting anything of the sort). My point is that you need pretty solid evidence of something greater than mismanagement/incompetence if you wish to ban someone from running for office. Interesting (in a bad sense) to see how this plays out....but I would be surprised if this is over.

I assume Gary is the better looking of the three brothers.
 

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