Court ruling clears way for golf club vote

Jane Emerick
Torquay Golf Club’s committee is celebrating a Federal Court of Australia ruling clearing the way for members to vote on an RACV takeover proposal this weekend.
The court ruled the sale would require a 50percentplusonevote majority, dashing the hopes of objectors to the takeover bid.
A group of 13 members had taken the committee to court this week, arguing the proposal needed a 75 per cent majority to go ahead.
In a twist to the case, the judge ordered Torquay Golf Club to pay both parties’ legal fees.
Club general manager Bill Laird said he was happy with the result.
Mr Laird said he had “no hard feelings” toward the members who took the committee to court.
“The committee is a group of professionals with high standing in the community. They understand people have the right to their own opinion,” he said.
“I hope the people involved realise we were always acting legally and in the best interests of the club.”
However, Mr Laird warned the court case would take a toll on the club’s finances.
“This has been a very lengthy and costly event for the club,” he said.
“The case took two days and we hired one of the best Queen’s Councils in Australia as well as an entourage of barristers and solicitors.
“The cost is going to gravely impact the club’s financial situation this year and the next.”
Mr Laird estimated the cost of the proceedings for both parties was $30,000 to $40,000.
The judge put the financial burden on the club because he believed the proceedings were in the “interest of public knowledge”, Mr Laird said.
Greg Giampiccolo, who was one of the 13 objectors, said he was disappointed with the decision.
However, he still hoped members would “weigh their decisions carefully” when voting on the takeover on Sunday.
“You can’t go past the law,” he said.
Mr Giampiccolo continued criticising the takeover deal.
“No one was complaining about the course before and then someone comes around with a bag of lollies and people want to jump on board,” he said.
“There are better deals out there that don’t involve selling our club.
“If the RACV has so much money then why doesn’t it build another golf course in Torquay?”
The RACV’s $55 million takeover bid includes membership perks, accommodation facilities with 55 to 66 fivestar rooms, a new clubhouse and a course upgrade.