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Equestrian Australia exits Voluntary Administration

 

 

The Deed of Company Arrangement (DOCA) has been fully effectuated and Equestrian Australia has now exited the Voluntary Administration process.

KordaMentha, who were appointed as Voluntary Administrators in June 2020, have finalised all conditions of the DOCA and handed back control of the organisation on 11th February 2021

The new EA Board, who were appointed in October 2020, but were unable to formally act until the end of the DOCA, now have the authority to govern the sport and lead it forward.

“Whilst we are aware that the Voluntary Administration process was not a choice made by the wider membership and came at significant expense, both financially and also in terms of our reputation, the new EA Board are committed to guiding EA into the next chapter based on transparency, open communication and inclusivity” says Mark Bradley, Chairman of the Board of Directors, Equestrian Australia

“The process to rebuild EA to best deliver services to all members and stakeholders will be a large undertaking, and the immediate priorities for the new EA Board include: 

  1. Managing the smooth transition out of Voluntary Administration
  2. Ensuring the financial stability of EA including securing the reinstatement of core funding from Sport Australia.
  3. Appointment of a new permanent CEO of EA
  4. Understanding the needs of the membership and identifying the optimum structure and resources required to deliver services efficiently. 
  5. Re-establish positive working relationships with our key external stakeholders including Sport Australia, FEI, Australian Olympic Committee and Paralympics Australia
  6. Review and update as required the EA strategic plan to ensure it is representative of the current and future needs of the sport
  7. Complete the process of governance reform that began during the VA process
  8. Providing a fair, transparent and consistent framework for resolving complaints and disputes in our sport
  9. Supporting the EA High Performance Panel and AIS as they help prepare our elite athletes to represent our country in Tokyo and beyond”