Not wanting to lessen the emotion you are feeling there Gongski but that emotion might be getting in the way of a few facts to be fair.
"Mr Spenceley made a deed of compnay arrangement in the amount of approx $850k to the board last june which was agreed as the existing debt amount that he or spenceley management would take on. Him being the sole shareholder of the company. So he has not only not kept to that Deed as he is approx $550k still"
The remaining $500k you talk about is owed to the NBL which Spencely renegotiated as part of taking it over with the NBL, Neill told me it was no longer due and he had to pay them only if the team was profitable. The administrator makes reference to this NBL agreement in the creditor report. That added in makes it look to me like he did meet the $850k
"he has also now made the other $350k a loan to the Hawks"
To pay debts/bills etc money has to come into a company somehow, that is either as equity (shares) or loan amounts. It's really common to put money into a business as a loan rather than shareholding, it's fast and easier than drafting shareholder agreements etc pretty normal most people fund their businesses this way and there are entire section of company's constitutions that deal with director's loans, again standard stuff.
"Charge over the companies assests for that $320k debt, albeit the club really does not have any assest but it highlights his desire to protect what he can before anybody else"
That is not really the case, in any administrator or liquidation situation there is an order of preference, staff and super etc would eat into all the money before his debt and him having the money in as debt or not doesn't afford him any better protection given this is not a business with assets to go and sell. I don't think he or anyone else would assume there would be money left to pay his debt given there are no assets. Often a charge is used in business to make sure there is a say in where the assets end up, if there is a competing bid one good one bad then someone with the charge can have more control over where it ends up.
"BUT he convinced the former board and current staff, players. Coaches and suppliers that HE had a 3 year plan"
Sounds to me like there was a 3 year plan I'm sure that plan didn't included WC pulling out of a $2m of sponsorship agreement 6 months in. Plans are just that, plans, any change of such magnitude as WC pulling out would completely changed those plans. That seems pretty reasonable and out of his control unless he knew from the start WC would pull out which seems unlikely, why would you take over the team if you knew you were about to lose $2m.
"I truly doubt he was ever fully committed. And a white knight.... I think not"
I don't think anyone puts $300,000 into something without being committed no matter how much you have. He is a business person at the end of the day and not a white knight, in business things change, the business plan had a lot of the wages / costs being met by WC sponsorship, that changed without that money being there it doesn't seem there is a business. That impacts a lot of people, staff, players, fans, the NBL, suppliers, everyone's thoughts are with them all.
fingers crossed a team keeps going out of this