Warren Thompson
1 minute read
8 Aug 2017
7:56 am

Aerios asserts WP Rugby was forced into contrived liquidation

Warren Thompson

The section 411 inquiry will reveal this – Constantinou.

Western Province Rugby was rocked by news over the weekend that its erstwhile minority shareholder, Remgro, had declined to take up a shareholding in the union’s new commercial arm following the successful liquidation of Western Province Rugby (Pty) Ltd.

Aerios, a sports marketing company led by Costas Constantinou, says this is all part of Remgro trying to put as much distance as possible between itself and the shady dealings of Western Province Rugby led by Thelo Wakefield and Paul Zacks who forced the commercial arm into a contrived liquidation.

Constantinou also claims the liquidator, and PwC, have been at fault in the way in which they have handled the liquidation. Aerios will be instituting a claim of R276 million against Western Province Rugby and has applied for a Section 417 inquiry, which will begin on August 22.

Listen to the conversation below with Costas Constantinou here

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