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THE future of the financially embattled North Albury Sports Club is expected to be determined by the end of September.
Wagga-based administrator Chris Chamberlain met club directors yesterday to begin the rescue mission, which will start with a members’ meeting at the club on Monday night.
An initial creditors’ meeting will be held next Thursday and following a second creditors’ meeting a month later the club’s future will be clearer.
Mr Chamberlain was appointed the administrator late yesterday following the revelation earlier this week the club had gone into voluntary administration.
He said the club would keep trading and groups, including the North Albury Football-Netball Club, were still using facilities at Bunton Park.
But the sports club’s long-term fate would be largely determined by the co-operation of major creditors including the Australian Taxation Off-ice, Albury Council and NAB.
The sports club is the over-arching body for senior and junior football, cricket and netball teams and the lawn bowls club.
“Hopefully we can put together some proposal, ability to keep the club going forward,” Mr Chamberlain said.
“One area that is critical and relevant is member support.
“It is about exploring every avenue possible in coming to a solution that is in the best interests of all parties bearing in mind people are owed money.”
Mr Chamberlain said the exact debt details were still being crunched, but confirmed the tax office was the largest creditor.
The club’s 2012 annual report revealed the sports club was negotiating with the Australian Tax Office about breach of payment arrangements.
Mr Chamberlain said dealings with the NAB would also be crucial.
“The bank is a critical factor in this exercise,” he said.
“If for whatever reason the bank wants their money and wants to move on, it is going to make life very difficult for us.
“We’ve got to look at solutions in dealing with the bank and get an understanding of their position.
“It is not like we are dealing with one party.
“We are dealing with a number of important players and all need to be on the same page to make this exercise a viable option.”
Mr Chamberlain said he had also met the council representatives yesterday about the sports club’s future.
The council and club have not agreed to terms of a new lease for the use of the council-owned facilities at Bunton Park after falling due for renewal in December 2012.