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Not properly made submission (object) Raymond McComb MCU13/0092
SCC CORRESPONDENCE
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The Chief Executive
Sunshine Coast Council
L k d Bag 72
Sunshine Coast Mail Centre
Queensland
4560.
Dear Sir,
Re Peregian Bowls Club Inc.( in liquidation) Site
At 5-7 Rufous Street Peregian Beach
Tli ab v sit wlii li is tli land ntain d in L t 94 n Plan
S.P. 137431 is currently the subject of a Planning Application to have the land
r z n d and d V l P d f r mr r’ ial pur’p S S.
Tli qU Sti n f an bj ti n t tli Planning Appli ti n is a
S parate O .
My Str nu uS bj ti n is t tli Pin Riv r’S M m rial
Bowls Club Ltd. owning the land and the methods used by the Club to attain
wn rSliip.
Between 1999 and December 2003 the Peregian Club
was recovered from a bad financial situation by two members lending the Club
money and registering a mortgage to the value of $140,000. During 2004 the
Club again experienced difficulty and two other members brought Pine Rivers
Club in to the picture.
The management of Pine Rivers Club undertook to assist
the Club, and manage the Club’s (Peregian’s)affairs. It must be emphasized that
the ordinary members of both Clubs believed that this arrangement would indeed
help the Peregian Club.
Tli ab v ar’rang r nt waS f rm liz d in an
"agr m nt" tli d tailS f tliis agr r’r nt r main a myst ry t tliiS day, it waS
never shown to the Peregian Club members nor did they have the opportunity to
seek legal advice Committee members at Peregian viewed a draft but only a
draft..
Subsequently Pine Rivers paid out the balance of the
above mortgage ($132,000)and sought to exact from the Peregian Bowls Club
rental and management fees of between $18000, and $16000 per month. A
r’r rigag was r giSt r d by Pin Riv rS n Al.Igust 13, 2004. Th m n tary
valu f tliis r’r rigag is n t availabl t tli publi N SIi r m n y waS
transferred to the Peregian Club As the maximum income of the
pe:gia~ofJ’ 1
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month, the rapid decline of the Club was
Club, at best was around $11000, per
~nevitable.
debt and therefore
Now it was widely published that the
"valuation" of the Club’s land was of the
the value of the mortgage based on a
of Pine
There is little doubt that the ~xecutive
order of $900,000 to $1 ,ooo,ood[ the management of Peregian Club
to sign
Rivers cajoled bludgeoned and pullied of dollars" of debt.
over the title deeds on
the basis of’ hundreds of thousands
of the Peregian
On 23 February, 2012 the liquidator
the Club. As a Creditor Pine Rivers Bowls
Beach Bowls Club began winding up
with the Liquidator, the value of this debt
was
Club Ltd. lodged a proof of debt
$65,000.
Conclusions
Club
1. Since the provable debt of Peregian appears
to be $65,000 the Club must
,
have been profitable
over the of 2004, to 2010 to have paid out
period
for
the $132,000 mortgage and to have operated
survived in the
that period of time and would have
future.
2. Pine Rivers management has
acted as a Corporate
it
raider having acquired the land and now offering
for sale at $1.6 to $1.8 Million
3. The ownership of this land by
Pine Rivers is
Because:-
unusual, bizarre and inappropriate.
metres and is
4. "The subject site contains 6503 sq
for sport and
part of a larger area of land used
Noosa
recreation the only such land between the
Aquatic center and the southern
limit of Peregian
Beach south.
and potentially
5. The land as it is currently zoned
used for and recreation is a very valuable
sport
of the
asset to many local residents because
paucity of other sites."
undertake
6. It is realized that a council would only
compulsory acquisition proceedings in most
the
unusual circumstances .It is submitted that
sizeable
acquisition of (by questionable means) a
land by a body
piece of recreational and sporting
the Sunshine
not associated in any other way with
Coast is a most unusual circumstance!
Recommendation.
Sunshine
It is strongly recommended that the
land.
Coast Council take action to compulsorily acquire the
~~~
Raymond G. McComb
?
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