RA 'insolvency' double blow for Folau
IN THE SPOTLIGHT: Axed Wallaby Israel Folau could face another dilemma if the sport’s governing body is forced into insolvency.
The former fullback ace was sacked by Rugby Australia last year over social media posts.
The two parties agreed to a multi-million out-of-court settlement in December after the Folau sued RA for religious discrimination.
While the terms weren’t made public, it’s understood to be around $3m, which is the remainder of his four year contract.
According to The Australian, the settlement is being paid off in instalments with those payments at risk should RA go under.
Should RA be forced to declare itself insolvent, Folau would become an unsecured creditor and depending on its assets, he’d likely be paid out only a few cents in the dollar.
Folau has been playing rugby league with French-based club Catalans Dragons in the Super League, although competition is currently suspended due to the coronavirus pandemic.
He is reportedly expecting his first child later this year with former netball star wife, Maria.
– AAP
