Control of RugbyWA has been handed back to the directors today after a restructure that ends the Voluntary Administration.
Creditors of RugbyWA have voted to return control back to the directors and therefore the implementation of the Restructuring Implementation Deed.
KordaMentha Restructuring partner Scott Langdon said a restructuring agreement had been reached with the directors of RugbyWA, Rugby Australia and major creditors.
Scott Langdon said: "This reconstruction of RugbyWA provides the platform for stability and future growth of Rugby in Western Australia. It aligns and unifies RugbyWA and Rugby Australia in support of Rugby in Western Australia for the long term.
"It's a credit to all involved that RugbyWA has come out of administration so quickly and is a tremendous result for its supporters, players and employees."
A core element of the agreement was that directors of RugbyWA and Rugby Australia invested funds in WA community Rugby.
Rugby Australia CEO Bill Pulver said: "We are pleased to have reached a solution that allows us now to focus on working with RugbyWA to grow Rugby in Western Australia on the back of increased investment in the community game."
The incoming Chairman of RugbyWA, Mr John Edwards, thanked Lavan for their support through this process, "Lavan, as a major creditor, sponsor and advocate, has been extremely generous in their support for rugby in WA over the years and we thank them for their cooperation in assisting Rugby WA being handed back to the directors today "
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