Show of hands: Members of the Gympie Pines Golf club vote against a levy to bail the club out of its financial problems at a special general meeting on Saturday.
Show of hands: Members of the Gympie Pines Golf club vote against a levy to bail the club out of its financial problems at a special general meeting on Saturday. Craig Warhurst

Golf Club in huge debt

THE Gympie Pines Golf Club voted to go into voluntary receivership at a special meeting on Saturday after it was revealed the club owed more than $170,000 and had no way to repay the debt.

Members of the club voted overwhelmingly to place the club into receivership after another motion to raise the outstanding funds by the way of a member levy was defeated.

The Gympie Pines Golf Club and owner of the golf course Golfing Residential Gympie GRG failed to come to an agreement on a lease before Easter after GRG demanded unpaid rent on the property.

Gympie Pines Golf Club members managed to raise nearly $130,000 to pay outstanding debts, but the money was only to be released upon GRG agreeing on a registered lease with the club, this didn’t happen.

At Saturday’s meeting chaired by Gympie Pines Golf Club President and GRG representative John Towler, members expressed their concern about unaudited financial statements showing debts in excess of $170,000, missing financial records in the hands of local accountants, the lack of minutes, and the performance of GRG appointed managers Club Source.

Other members were upset their 2009 membership would not be honoured by GRG saying they would continue to play golf on the course. Mr Towler responded by saying he would call the police to evict offending members.

One question the club did get clear information on was who had control of the club’s finances before October last year.

Mr Towler confirmed golf management company Club Source had control of the club’s finances during that time and receivers would investigate its role in the club’s demise.

After the meeting a new Cooloola Golf Club was formed.

Gympie Times


WHO STUFFED UP? CEO's Rattler pitch raises questions

premium_icon WHO STUFFED UP? CEO's Rattler pitch raises questions

State told heritage train "close to operational" early last year.

Drug and speeding drivers and a man with too many penalties

premium_icon Drug and speeding drivers and a man with too many penalties

Too fast, too much to answer for and drugs in the system

Kim is ready to say goodbye to Kingston House

premium_icon Kim is ready to say goodbye to Kingston House

AFTER 22 years of running Kingston House Impressions at the corner.

Local Partners