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Coolamon Sport and Recreation Club pledged $16000 by community intent on keeping it afloat – Daily Advertiser

The Coolamon community has rallied behind its embattled sport and recreation club, pitching in $16,000 to keep it afloat.

On Tuesday The Daily Advertiser revealed the club was on the edge of falling into voluntary administration, after board members were told more than $360,000 was owed to creditors and police were investigating missing funds from the clubs Keno facilities.

Club president Trevor Jose said one of the biggest worries was a $63,000 bill from the Australian Tax Office, which could close the club down at any time.

At a community meeting, Mr Jose explained there were three paths ahead of the club: do nothing, go into voluntary administration, or get the community to pitch in.

Voluntary administration would ultimately mean an extra…

Read the full article at: http://www.dailyadvertiser.com.au/story/4282364/community-pitches-in-to-bail-out-club/?cs=148

Category: LiquidationBy Insolvency Advisory AccountantsNovember 9, 2016

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Coolamon Sport and Recreation Club pledged $16000 by community intent on keeping it afloat – Daily Advertiser

The Coolamon community has rallied behind its embattled sport and recreation club, pitching in $16,000 to keep it afloat.

On Tuesday The Daily Advertiser revealed the club was on the edge of falling into voluntary administration, after board members were told more than $360,000 was owed to creditors and police were investigating missing funds from the clubs Keno facilities.

Club president Trevor Jose said one of the biggest worries was a $63,000 bill from the Australian Tax Office, which could close the club down at any time.

At a community meeting, Mr Jose explained there were three paths ahead of the club: do nothing, go into voluntary administration, or get the community to pitch in.

Voluntary administration would ultimately mean an extra…

Read the full article at: http://www.dailyadvertiser.com.au/story/4282364/community-pitches-in-to-bail-out-club/?cs=4085

Category: LiquidationBy Insolvency Advisory AccountantsNovember 9, 2016

Post navigation

PreviousPrevious post:SoLocal Group: Additional Information Concerning the Draft Revised Financial Restructuring Plan – Business Wire (press release)NextNext post:New Jersey takes over debt-ridden Atlantic City government – Daily Mail

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May 9, 2025
Regulating Fraudulent Use of the Corporate Form
May 6, 2025
Aussie Plant Based Co. acquired by Smart Foods, production resumes
May 4, 2025
Socceroo star Steve Horvat’s family company pushed into liquidation on the eve of Western United heading into A-League finals
May 2, 2025
Perth’s biggest event lighting company in liquidation after being decimated by the pandemic
April 30, 2025
Modco co-founder’s entity in liquidation
April 29, 2025
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