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Latrobe Local News:
Council acts on Falcons

Latrobe City Council taken steps to call up a loan made to Gippsland Falcons.

By Latrobe City Council - 16th January 2001 - Back to News

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Latrobe City Council has taken steps to call up a loan made to the Gippsland Falcons, and has lodged a claim over the land and buildings at Falcons Park.

Latrobe City Mayor, Councillor Tony Hanning, said that Council’s hand had been forced on the issue, and Council had taken the only responsible course of action, that of instructing its solicitors to initiate the necessary legal processes.

“Council had no option but to take this action, because we have not received a loan repayment from the Falcons for six months, and there has been no identifiable prospect of the situation improving,” Cr Hanning said.

“It is indeed unfortunate that we have had to call up the loan, but the Council needs to act responsibly, protecting its financial position and ratepayers’ funds,” Councillor Hanning added.

“We have given the Falcons every opportunity and assistance. We have extended the time period for payment, but our patience and tolerance have been strained to the point where in the interests of all Latrobe citizens we now have to act.”

“In claiming the land and buildings under the first mortgage, Council will recoup the funds loaned to the Gippsland Falcons,” Councillor Hanning concluded.


Media Enquiries:

Cr. Tony Hanning, Mayor, Latrobe City
tel. 0417 373 577

Cr. Brendan Jenkins, Deputy Mayor, Latrobe City
tel. 0417 374 590

Ms. Penny Holloway, Chief Executive Officer,
tel. 5173 1401 or 0417 557 103

Jeremy Bein, Public Relations and Communications Officer,
tel. 5173 1468

Source: www.gippsland.com

Published by: latrobecity@gippslander.com



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