Interested parties keen to lead a new future for the Bellingen Golf Club have five days to submit their best offers to administrators.
Following the 22 July deadline, the Joint & Several Administrators will assess all proposals received and determine which proposal, if any, should be put before creditors as a potential Deed of Company Arrangement (“DOCA”).
In an update to members, the administrator said creditors will ultimately determine the fate of the Club on or before 20 August 2025. They will have two options to choose from- that the Company execute a Deed of Company Arrangement; or that the Company be wound up and placed into liquidation.
Club membership renewals will only proceed in the event a Deed of Company Arrangement is executed by the Company.
The Bellingen Golf Club abruptly closed its doors and entered voluntary administration on 13 May, citing relentless rain and hefty poker machine payouts as the final blows to the club’s long-standing financial woes.
“With respect to Club maintenance, advice received indicates that the course can reasonably remain in its current state without further maintenance until approximately the end of July. A further assessment will be conducted at that time to determine next steps,” the administrator said.
“At this stage we remain confident as to a positive outcome for all stakeholders.”