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The administrators have also issued a press release:
Greek Community Association, The Order of AHEPA NSW Inc has appointed Michael Hird and Alan Walker of Cor Cordis as Administrators to recover approximately $3.5 million owed to creditors.
The amount owed relates primarily to legal and consulting fees connected to longstanding
internal corporate governance issues and a proposal to redevelop the Bexley Bowling Club.
The Bexley Bowling Club proposal sharply divided members of the Association and
exacerbated historical differences amongst members concerning membership and
constitutional issues.
The Supreme Court of NSW has dealt with the Associations governance issues on no less
than three occasions in recent times with the NSW Court of Appeal finally determining the
issues on 26 August 2020.
Draft orders were made by the NSW Court of Appeal and have yet to be finalised.
Cor Cordis Director Michael Hird said the aim of the Administration was to maximise the
return to creditors and to preserve, as much as possible, the Association’s assets.
He will also assist the Association to implement changes that may be ordered by the NSW
Court of Appeal that may enable the Association to return their efforts to the admirable
objectives of their charter.
“Our intention is to reach an amicable, fair and productive outcome for the Association which
has a rich history having been first established in Australia in 1934.”
The next report to creditors is planned to be finalised on 8 October 2020, with a second
meeting to follow. Creditors will be advised in due course.
