08/07/2020
Dear Members
Over recent weeks Equestrian Queensland (EQ) has been in active discussions about what the future structure and governance of Equestrian Australia (EA) could look like. During these recent discussions our priority has always been to ensure that members have a voice about the future of EA.
Yesterday, members would have received an email with a link to the report from the EA Administrators ahead of the Second Creditors meeting on 14 July 2020. The report can be found on the KordaMentha website.
KordaMentha website link https://kordamentha.com/creditors/equestrian-australia-limited
The Administrators Report outlines their investigations into the operations and affairs of EA and provides details of the Deed of Company Arrangement (DOCA) proposal prepared by the Administrator along with the details of an alternative DOCA proposal prepared by the five State Branches excluding EQ and Equestrian Northern Territory.
Link to Administrators Report
https://kordamentha.com/getmedia/1e7d4b32-0efe-438c-853f-5374f24bedbd/200707-Report-by-Administrators-Equestrian-Australia-Limited
EQ did not agree to be part of the DOCA submitted by the five State Branches as we consider;
* It critically important that all members have a voice about the future of EA.
* That decision making about EA’s future needs to be more representative of the membership.
* That being a party to the DOCA submitted by the five State Branches would require EQ to provide a letter of comfort to support, by way of underwriting a percentage, of the national EA debt.
* That the three candidates proposed by the five State Branches for the interim EA Board are not representative of an independent Board for all stakeholders and members.
* That the DOCA being proposed by the five State Branches does not address the issues raised by the key stakeholders and members and would not be sufficient to regain the financial support of Sport Australia which is necessary to retain FEI affiliation and AOC accreditation.
* The Administrators Report released yesterday provides an overview of how the two DOCA proposals address or don’t address the issues raised by key stakeholders and members on page 28 of the report.
All members are encouraged to review the two DOCAs and make their own decision about the future of EA.
EQ supports the DOCA from the Administrators which proposes to;
* Facilitate changes to the EA constitution to allow for ‘one member, one vote’.
* Appoint a new, independent transitional board for EA.
The Second Creditors meeting on 14 July 2020 is very important and we strongly encourage all members to participate in the meeting. It is important to advise that the meeting will not determine any new operating structure for EA as this will occur through extensive consultation with all members and stakeholders in the coming months.
There are nine resolutions that are to be decided at the Second Creditors meeting on 14 July 2020. In the next 24 hours, EQ will provide additional information to support members to participate in the meeting either by;
* attending the online meeting;
* voting early through the platform set up by the Administrators by nominating a special proxy to either EQ’s delegate or another delegate of your choice; or
* provide a general proxy to either EQ’s delegate or another delegate of your choice.
We advise that EQ’s Vice Chair, Corey Keable will be the proxy delegate for EQ. We will also provide a template to show members how EQ will be voting on the nine resolutions to assist members with their decision.
To support discussion about the future structure and responsibilities of EA, the Administrators have set up https://engage.equestrian.org.au/ to showcase the new structure proposals received to date and provide a platform for members to submit their comments and feedback about the proposals, which will be considered by a new independent and transitional EA Board.
If you have any questions please do not hesitate to contact the EQ team on 07 3891 6611 or [email protected]. Alternatively, members can email KordaMentha at [email protected]
David Finch
Chair, Equestrian Queensland
On behalf of the Board of Equestrian Queensland
FULL ARTICLE CAN BE FOUND ON THE EQUESTRIAN QUEENSLAND WEBSITE
https://www.qld.equestrian.org.au/news/statement-members-board-equestrian-queensland
