maitland leagues club, club maitland city, ian martin, jeff shute, shaw gidley, administration, clubs
The much touted amalgamation between Maitland Leagues Club and Club Maitland City has been axed after creditors were told the historic club will now be placed into liquidation. Maitland Leagues Club went into voluntary administration earlier this year owing creditors, including St George Bank, $4.5million. The Bulwer Street premises has now been listed for sale under private treaty. If sold for the $2.3million it has been listed for, employees and St George Bank will be paid in full, but other creditors will only receive between 39 to 52 cents for every dollar owed. The club went into administration earlier this year and Club Maitland Cit…
Read the full article at: http://www.maitlandmercury.com.au/story/5810094/all-bets-are-off-in-leaguescity-club-merger/