If Hawthorn had taken BV to the Supreme Court (which is what they were threatening) - it would have halted the VJBL season, as the case would need to be heard first. The court system is backlogged because of COVID!
If an Association isn't submitting financials and it's Board and GM are telling BV that everything is fine, how are they to know the level of debt is! Yes, there are requirements with BV constitution that are required to be met.
But Hawthorn Board are the ones who didn't submit financials and the financials that had been produced were not reflecting the true debt position in the first place and the incorrect accounting process where used and debit was being hidden by the GM , funds were being used in other sectors of basketball within the HBA, ie domestic funds , being used to fully fund Big V and Magic. Auditors were asked to changing the phrasing of their reports.
The BLAME lies with the Hawthorn Board and original GM - not all members were informed of what was going on , especially when the Domestic Clubs first raised concerns, and that was well before the Clubs moved!
So , I would be looking at those Board members who's kids play Magic and start asking them questions, on why the Truth was not being told! Hawthorn have claimed that it is a community based Club , but they managed the revenue stream as thou it was privately owned company. Community funds are meant to be managed in a transparent manor , and used for the purposed they were paid for by members, not used for "so called" "Elite" programs for the few!