Carrick on Suir Golf Club – which has over 450 members – has a legacy debt which AIB sold off to a vulture fund in 2019.
At the time the golf club committee and financial advisory group believed they had a deal with AIB to service the outstanding debt.
Cerberus Capital Management have informed them that they have agreed a deal to sell a portion of the land assets of the golf club at Garravoone to a Dublin based businessman.
Tony Musiol is a member of the Financial Advisory Group – speaking on Tipp Today earlier he said an Extraordinary General Meeting tomorrow night will hopefully clear the way for the club to make a successful bid themselves.
“That’s the earliest point we could do this. You have to give 21 days’ notice under company law and also under our golf constitution for motions like this.
“We expect these motions to be approved pretty well unanimously tomorrow night and that would put us in a position then to be able to put a winning offer on the table with Cerberus on Friday.”
