How close to the mark can this be???

http://www.makingthenut.com/content/punter-protection-or-lack-thereof-act

I think you'll find Fisky worked for Acumen back in the day...

Joined: Date Joined: 20 Feb 03 | Topic/replies: 1,160 | Blogger: logroller's blog
quiet right the government of the ACT have someting to answer to, they were negligent in their duty to govern this bookie and surely this is the way forward for us poor suckers that had funds with them, also there may be more than meets the eye here and even the owners may have a bit more to answer to than we think, even criminal charges if they traded while insolvent.

it is about now that this company r in the red for over 10mill, included is about 1.3mill to clients accounts.

if this is the case they have been trading while insolvent for months maybe even years, this is the way forward with a class action to make the directors, tasmanian tab and the ACT authority to be held accountable

Capital Sports

tipping the directors have !!!!    punters and investers havnt , dont reckon the sports alive bean counters are getting around on bikes there will be enough to put petrol in there cars

I'd like to gauge the interest of any affected punters in being involved in a class action against the ACT Gambling and Racing Commission.

I will look to contact Matt Fisk and find out more.

If you are interested, I will ask for more information later, but in the meantime, can you please just leave a brief response in this thread that you are interested.

Thanks, by all means ask away.

I would think that to even make this feasible we would need at least $500k worth of punter funds lost.

I think its a long shot, but I'd say that we are at about approximately 50k in total losses so far.

Assuming you add Fisky's losses, we're up to around 70k.

Check this page for further updates
http://www.makingthenut.com/content/punter-protection-or-lack-thereof-act#comment-363

Looks like our money is gone for good...

http://www.bentcougle.com.au/SportsAlive_Notice.pdf

what are the names of the directors of these companys

They should not be allowed anywhere near a betting company or bookmakers license ever again

My understanding was that bookies were required to place a $250k bond with gaming mob in ACT that would cover punters accounts, and nothing else. Surely that has to be divided among account holders. It is less than 10% of total account holdings by the look but it is something. And not what Bent & Cougle have stated?

What a disgrace this situation is.

shocking governance on BF's behalf jumping into bed with what appear to be a pack ****s.

I'm dismayed at the way BF OZ is run. I'm dismayed at the way BF is run full stop these days.

BF has become the antithesis of its raison d'etre really. A sporting stock market.Free trade minus a
reasonable commission for facilitating our trades. That was the good old days. Glorified bookie would now be closer to the mark.......

I'm in for a class action,lost about £1300 but not entirely sure as I couldn't access my records obviously.

$2.6m in punter funds.............to pay the secured creditors of $4m........fk that
the punters funds ARE PUNTERS FUNDS NOT TO BE USED FOR ANY OTHER MATTER.........

I am also in for the class action. I was with 5200 euros with them

Forget about getting anything. Bent and Cougle, like every liquidator, will get any money that's left in the company. That means that if there is still 250 large that's been held in trust by the Government Regulator, they will eat up the lot for their expenses. Because they, like all other liquidators, charge like wounded bulls and get theirs immediately. I feel very sorry for all those affected.

Betting agency misled, say staff
Michael Bachelard
September 4, 2011
Almost 13,000 punters could lose more than $3 million after a sports betting agency went into liquidation.

Almost 13,000 punters could lose more than $3 million after a sports betting agency went into liquidation. Photo: Pat Scala

STAFF of a Melbourne sports betting agency have claimed the company's managers deliberately misled regulators as it spiralled towards liquidation last month.

Almost 13,000 punters stand to lose up to $3.2 million after Sports Alive, which is registered in Canberra but based in Melbourne, appointed liquidators on August 25. The figure includes $2.6 million in payouts not made to winners as well as $600,000 held in ''wagered open bets'' - money held by the agency for punters placing long-term wagers, for example a bet at the beginning of the AFL season on who will win the AFL grand final.

Liquidator Hamish MacKinnon of Bent & Cougle said agency staff were also owed $300,000 in unpaid superannuation and the $250,000 the company was required by law to hold as a buffer was funded by a loan from Bank of Queensland.

Company records show that, two days before the liquidation, two Melbourne directors of Sports Alive, racing identity Danny Finley and lawyer Colin Hiles, suddenly quit the board. Mr MacKinnon also said that around the time of the liquidation, a loan by Mr Finley to the company was taken over by another finance group.

Mr Hiles could not be contacted, Mr Finley did not return calls, and neither did his business partner and former Sports Alive director Gary Gray. Sports Alive chief executive Stephen Chant also did not return calls.

Mr MacKinnon said the company had made losses in the past two years, and he was investigating whether the company had been illegally trading while insolvent.

Alex Bailey, who ran the company's Canberra call centre, said that long before the liquidator came in customers were not being paid their winnings.

''At the end, people had been waiting up to six weeks … I had clients threatening to come in to the racecourse to cut my f---ing legs off and slit my f---ing throat,'' Mr Bailey said.

Even though no money was being transferred to punters' bank accounts, staff have confirmed that company managers were falsely marking customers' betting accounts as ''paid''.

Mr Bailey said he believed this was being done to trick the ACT regulator, the Gambling and Racing Commission.

Three other staff members, speaking anonymously, have backed Mr Bailey's stories.

A Gambling and Racing Commission spokesman said the commission was ''undertaking inquiries in relation to Sports Alive at the time it went into liquidation'', but could make no further comment.

The company was at one stage a takeover target for government betting agency Tote Tasmania, which looks to have lost its $3.88 million investment.

Tote chief executive Craig Coleman said he regretted the investment. ''I don't know that there was any campaign of hiding things, I certainly wouldn't go that far, but I do have concerns about management practices.''

i'll gladly send you my vote, but how would this work exactly?  who gets to vote about what?  how easy is it to send the liquidator home?

regardless of whethet the liquidator has been consulted in advance, his judgement all of us are unsecured creditors is enough for me to send him home. regardless of whether he is right, we have nothing to gain with him, and everything to gain with another liquidator. worst case he'll also consider us unsecured creditors as well and that will basically leave us where we are now. any additional costs that this might incur -> who cares, we're not getting anything anyway the way it stands.

also, a liquidator that budgets 40.000 aud of our money to answer "creditors queries" but who is unable to answer e-mails within a reasonable timeframe, doesn't get my sympathy.

nothing too lose, perhaps not too much to gain but we can always try. if you are willing to attend the meeting, let me know what i can do.

I will gladly  pay the JJ Richards acct if they take all the "rotting stench" from the place