Essendon trade moves and the secret 'COLA'-style payments people still don't understand

Bunk Moreland

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Can you get insurance to cover victims of fraud perpetrated by oneself?
Insurance company cover does not include items that were not part of of normal activity. Like illegal doping.
Yep, BigFooty does not know what insurance is.

Go and Google it, it's not my job.
 

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Yep, BigFooty does not know what insurance is.

Go and Google it, it's not my job.
If you tell insurance company you are going to run a footy team and want insurance. The insurance company asseesses the risks. If you don’t disclose that you intend to not play by the rules you submitted to insurance company and are subsequently sanctioned i would have thought that would null and void any policy.
Hey bunk, can bank robbbers get insurance in case the heist does not succeed??
 

Bunk Moreland

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If you tell insurance company you are going to run a footy team and want insurance. The insurance company asseesses the risks. If you don’t disclose that you intend to not play by the rules you submitted to insurance company and are subsequently sanctioned i would have thought that would null and void any policy.
Hey bunk, can bank robbbers get insurance in case the heist does not succeed??
I seriously have better things to do than take you through a TAFE course.

Google “employee negligence”. “Professional indemnity”. A few other terms.

FFS, seriously.
 
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I seriously have better things to do than take you through a TAFE course.

Google “employee negligence”. “Professional indemnity”. A few other terms.

FFS, seriously.
Not sure why you are in this discussion if you don’t want to discuss it.
Googled pro indemnity and these exclusions keep coming up

  • circumstances which might give rise to a claim which were known about prior to inception of the policy
Like where EFC knew doping was against the rules a could harm players health and impact earning capability.

FFS!
 

Spanish_Fly

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I understand the rubbish that's being said... it's just that it bears zero relationship to reality.

What lawyers do you deal with? I'll tell you exactly what happens in your little story, except in the real world...

5. The lawyer (who is representing Heppell as well as Paddy Ryder) says "great, now we'll add the equivalent amount to Paddy's settlement. Everybody wins."
You understand that Dyson would be forgoing $150k of his salary to offset the increase in the settlement, he doesnt actually just get an extra $150k? So why would a lawyer just randomly think he could add $150k to everyone elses already agreed contract settlement with no offset? Dysons' increase would just be accounting.

You're either being deliberately obtuse or are incredibly stupid. I'm guessing its the first option.
 

Dave

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I'm sorry but which bit about "no one receievd a lower figure than they were entitled to" do you not understand.

I'll try and make this simple for you

1. Lawyers negotiate with Essendon on behalf of all players to reach an agreed sum for settlement which was probably different for all players.

2. All players and Lawyers and Essendon find common ground that is acceptable to all parties for all players.

3. Essendon say to current players who also happen to be renegotiating contracts, "hey Dyson, why dont you take $150k off your taxable salary and lets just add it to your settlement account?"

4. Lawyer says to Dyson, "thats a pretty good deal you'll save about $65k in tax and my fee will only go up by around $8k,"

5. Dyson accepts the deal and he, the lawyer and the club all win.

6. No non Essendon player has received an amount less than they agreed to by negotiation.


Its not really that hard to figure out.
you missed a point:

7. Insurance company signs off on fraudulent payments and is rewarded with naming rights for pre-season games.
 

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Dave

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Not sure why you are in this discussion if you don’t want to discuss it.
Googled pro indemnity and these exclusions keep coming up

  • circumstances which might give rise to a claim which were known about prior to inception of the policy
Like where EFC knew doping was against the rules a could harm players health and impact earning capability.

FFS!
Quick, you’d better call the insurance company and tell them, you’ll save them millions. Millions!!!
 

Bunk Moreland

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You understand that Dyson would be forgoing $150k of his salary to offset the increase in the settlement, he doesnt actually just get an extra $150k? So why would a lawyer just randomly think he could add $150k to everyone elses already agreed contract settlement with no offset? Dysons' increase would just be accounting.

You're either being deliberately obtuse or are incredibly stupid. I'm guessing its the first option.
A lawyer engaged on a settlement couldn’t give two shits about Dyson’s employment contract or Essendon’s salary cap situation or accounting.

Hey, there’s an extra $150k on the bill for Dyson, I’m adding it for the other guys too. Easy.

Their job is to get as much as they can to line the pockets of their clients and more importantly, themselves.

Do you know any lawyers?

Not sure why you are in this discussion if you don’t want to discuss it.
Googled pro indemnity and these exclusions keep coming up

  • circumstances which might give rise to a claim which were known about prior to inception of the policy
Like where EFC knew doping was against the rules a could harm players health and impact earning capability.

FFS!
I don’t even...
 

blue harvest

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Be like if you crashed your car into a $300,000 Mercedes only to be told you're not covered by your comprehensive insurance because you were at fault. Um... what? That's the whole point of it.
What about if your dubious mate, whose driving license status you didn't bother checking, crashes your car into a $300,000 Mercedes whilst doing 30km over the limit and blew .12?
 

Bunk Moreland

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What about if your dubious mate, whose driving license status you didn't bother checking, crashes your car into a $300,000 Mercedes whilst doing 30km over the limit and blew .12?
Do you have Dubious mates liability insurance?

You’ll have to let me know who covered you, I could probably do with it.
 
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