It's more than an interesting read! Anyone on a committee would be well advised to read that verdict.

That reminds me, I need to upgrade my photocopier.

Wow. Just read through all that. Not a great outcome for everyone involved really - quite a sad state of affairs.

I see that the Noordsy has also stepped down.isn't that all the "new board"now gone.

That reminds me to invest in a new shredder...

Where is the summary? That's a lot of reading right there...

So where is the verdict?

I have no idea who Noordzy is, but I wouldn't want him involved in any business I knew of.

That Trott bloke after reading the summary just jumped ship from one board to another and used hindsight to attack Carrol. What a tool of a bloke. Noordzy just spent KBI money and left them in the lurch. And Carrol was trying to advance KBI with sponsorship that the previous board approved of. Shame on the Noordzy board for mudslinging Carrol.

The Italian courts overturned her guilty verdict. ..

Holly Catfish $1m is correct. A sad state of affairs with the people suffering the most being the members.Good luck to the CEO, a very tough gig.

Anon thanks for the Sun Herald/Leader link. Brief description of case. Feel sorry for all involved. Pipe dreams are for those with nothing to lose. But real people have been hurt here(on both sides)! Hope they get through it. Big organizations need to ensure they put the right people in(must have business acumen), but then need to support them. Ensure that checks and balances are put in place.

This is an excellent case study .

Most boards could do worse than taking the time to reflect and discuss whether not a similar situation could take place at their association or community organisation.

Sadly, I agree What If. This is one expensive lesson in not for profit governance.

So where are the fracktards that said it was a scandal now?

Good players are not necessarily good coaches or good administrators.

No winners out of this....except for the lawyers.

Poor Noordzy.
Very clear from ruling that previous board allowed over $100,000 to be spent on a sponsorship deal that never eventuated in lieu of doorkeepers and rent due to council.
Then Noordzy steps in when losses and debts are announced, has to save KBI from administration by negotiating with parties that are owed money. Then its seems minutes from board meeting where not sufficient to explain to him that they knew every move WC was making, he goes to court and the rest is history.
No matter what happened at court, why was KBI in massive debt and why is not previous board accountable for this debt. Surely they must have had monthly P&L's to monitor what was going on?? Noordzy actions although now, seem ill-informed I think is a culmination of the poorly run and administrated organisation that had no understanding of their duties, KBI's financial position and the consequences of their actions.

@ 502466 Anonymous.

Which CEO and wife are you referring to? This general statement could mean multiple people- is that fair to the "innocent "?

C'mon Anonymous which CEO and wife? Back up your statement with facts unless of course you are just another poster who tells porkies