Liquidation of the Horseshoe Bend club known as the Old Tin Hut has cast a shadow over a merger proposal.
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The Maitland Ex-Servicemen’s Citizen’s Bowling and Sporting Club was in discussions with Maitland Park Bowling Club until the former closed its doors on Sunday for good.
“Being a liquidation it’s not a situation where the club can amalgamate formally,” the liquidator Graeme Beattie of Moore and Stephens Accountants and Advisors said.
The club ceased to trade with very little notice.
The decision was made at a meeting of creditors on May 23 and the club served its last drinks three days later.
The task of selling assets has begun.
Mr Beattie said any deal to see the Old Tin Hut live on in some shape or form was for directors to work out but added it would be subject to strict laws.
“Any surplus funds in these circumstances have to be directed into the community or a like-club,” Mr Beattie said.
“The funds don’t go to the members.”
Maitland Park chairman David Merchant confirmed his club had been open to a merger early this month.
“We’ve been approached and it’s in the hands of our legal team,” he said.
“If it’s not a viable proposition it’s not worth wasting our time.”
The Old Tin Hut’s financial woes came to the surface a year ago after sustained rumours the club had been trading insolvent.
Administrators were appointed to handle the books when creditors gave the club six months to trade its way back into the black.
During this period director Wayne O’Brien lashed out at speculation when he said: “these rumours circulate every year”.
Creditors granted permission to trade for six more months, but when this lapsed a week ago the call was made to wind up the club and start the liquidation of its assets.
The Horseshoe Bend property will be put to auction in coming months.
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