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Council takes legal action on Crinigan Road propertyCouncil resolved to proceed with legal action against Eastern Pride to recover loans made to the club. By Latrobe City Council - 5th April 2001 - Back to News At its meeting on Monday 2 April 2001, Council resolved to proceed with legal action against Eastern Pride to recover loans made to the club.
Latrobe City Mayor, Councillor Brendan Jenkins said that given no repayments had been received in respect of a loan of $300,000 advanced to the club and secured by first mortgage over the property, Council had decided to take action under the terms of the mortgage to have Title to the property transferred to Council.
Cr Jenkins explained that Council had given the club every opportunity to make alternative financial arrangements but the time had now come to recover outstanding funds.
Council, through its Solicitor, will now make application to the Supreme Court for Title to the property to be transferred to Council.
Source: www.gippsland.com Published by: latrobecity@gippslander.com
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