Former commercial partner Aerios has filed criminal charges against WP Rugby’s board of directors.
Investment company Remgro, which had a 24.9% stake-holding in WP Rugby before withdrawing in August, has two board members included, as they were part of the board when WP Rugby was liquidated last December.
Remgro CEO Jannie Durand told Sport24 that Aerios’ allegations were ‘unfounded’.
Aerios is pursuing a R276-million damages claim against WP Rugby, which it says reneged on an advertising rights contract for exclusive rights to sell stadium space, and another contract to install Wi-Fi and digitise Newlands in a multi-million rand development contract in exchange for content rights.
Aerios has filed subpoenas for WP Rugby’s financial records, as part of the Section 417 enquiry into the liquidation of WP Rugby, which the union is trying to block.
‘The only reason why you go to the courts to block the subpoenas is because you don’t want to give the information that’s necessary‚’ Aerios boss Costas Constantinou told The Times. ‘If they had nothing to hide why would they be doing this? I don’t understand.
‘Ultimately it’s all delaying tactics. They are hoping I’ll give up but that’s not going to be the case.’
WP Rugby CEO Paul Zacks said he could not comment as the matter is sub judice (under investigation).
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