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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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do members of a golf course that filed chapter 11 have to pay

This answer was rated:

do members of a golf course that filed chapter 11 have to pay their dues in south carolina

cortrightlaw : Give me a minute to review your question and respond
cortrightlaw :

That would depend on if you are wanting to stay a member and if the golf course is reorganizing, if they are attempting to reorganize by reducing their debt and you want to continue to be a member then yes you would have to continue paying. You really need to investigate what there motive and goals are in the reorganization.


 

Customer:

Yes i want to stay as a member they want everyone to trasfer over to the new club and pay an additional transfer fee

cortrightlaw :

The transfer fee does not seem to make sense, but the reorganization might be in the best interests of all the members if it lowers the golf courses expenses.


 

cortrightlaw :

How much is the fee


 

Customer:

depending on what level you want as much as 5,000.

cortrightlaw :

That seems a little crazy, is that in the reorganization plan they are filing with the bankruptcy court?


 

Customer:

Yes, I paid 100,000.00 to join 6 years ago

cortrightlaw :

Well the additional fee does seem high and punishing those who have already paid, but if it is really needed as part of the reorganization of the golf course to keep it solvent it might make sense to pay, you would hate to have the golf course just completely fail and then you could be out your whole investment.

cortrightlaw :

Have any of the members contacted a lawyer to make sure the members rights are protected? that would be a good plan to make sure the members interests are being protected.

Customer:

Yes most of them have already paid the additional fee. I'm meeting with them this afternoon and I'm not sure they will let me transfer if I do not pay them back dues

cortrightlaw :

Sounds like they kinda have you, but they do need you as a member, so they should work with you on paying the back dues, just see if something reasonable can be put together.

Customer:

THANK YOU

cortrightlaw :

Good luck

cortrightlaw :

Please take the time to rate my response and have a good day.


 

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