Judy Edwards has filed a lawsuit requesting the corporation that owns the course to be dissolved by a court order, contending that the course has debts and liabilities that it can’t pay and is or will soon be insolvent. The property is under contract to be sold to Beverly Homes, which plans to build a single-family housing development on the site.
A shareholder of Conway (S.C.) Golf Club has filed a lawsuit against the club that could impact the contracted sale of the nine-hole course to homebuilder Beverly Homes, Myrtle Beach (S.C.) Online reported.
Judy Edwards, described as a shareholder in her lawsuit against the club, is requesting the corporation that owns the course, comprised of shareholders and operated by a board of directors, be dissolved by a court order. She contends the course has debts and liabilities that it can’t pay and is or will soon be insolvent, Online reported.
Court involvement could affect the contracted sale. It could also potentially protect all of the course’s shareholders, including those who haven’t yet been identified, and potentially eliminate any title issues or future claims on the course, which is believed to have hundreds of shareholders who have purchased shares over 60 years. Many are deceased, Online reported.
A court-appointed receiver could assist with the dissolution and likely subsequent sale of the property, Online reported.
To expedite the case, Edwards’ attorney, Daniel MacDonald of MacDonald & Hicks, P.A., has requested the case be referred to the Horry County Master-in-Equity or Special Referee, with any appeal going to the South Carolina Supreme Court or Court of Appeals, Online reported.
In its response to the suit, the club, represented by a five-member board of directors, admits to debts and liabilities but denies it is or will soon be insolvent, and requests proof from Edwards of her claims, Online reported.
The club’s attorney, Douglas Zayicek of the Bellamy Law Firm, said the club hopes to resolve the suit as quickly as possible so the impact on the payout to shareholders from any sale would be minimal. “The goal is to keep the litigation to a minimum so hopefully there will be some money given to the shareholders at the end,” Zayicek said.
Beverly Homes owner Randy Beverly said in February that his company has a contract to buy the course and he plans to build a single-family housing development if the contract reaches a closing, Online reported.
The homebuilder is waiting to see the outcome of the suit. “We’re hopeful it will all be resolved amicably and Beverly Homes is able to purchase the course,” said Beverly Homes real estate attorney Robin Ciaccio.
The nine-hole course that includes a pool and pair of tennis courts is one of the oldest golf courses on the Grand Strand and was for decades a vibrant part of the social life in Conway. The property’s development began in 1937 and incorporation in the early 1950s, according to club records. The club remains open pending the resolution of the case and/or sale, Online reported.
In a separate report by MyHorryNews.com, John Wright, a county deputy sheriff, spoke to the Conway City Council about the city buying the course, despite the pending contract with Beverly Homes.
Wright told council he had spoken with the city’s grants coordinator and learned that there are hundreds to millions of dollars that could possibly be obtained by the city through grants and other awards from the U.S. Department of Agriculture, U.S. Housing and Urban Development and the National Park Service, MyHorryNews reported.
“Golf is a great game. Anybody can play it,” Wright told council.
Wright said there are two municipalities in the area that own golf courses. He believes Myrtle Beach is making money off of its Whispering Pines course; however, Dillon is not making money on its course. He believes owning the course would be a plus for the people of Conway, MyHorryNews reported.
Wright still had hope when he spoke with a group of club shareholders at the unofficial impromptu meeting in First United Methodist Church. Shareholders there represented about 100 shares of stock. They believe the club has sold about 1,035 shares, but they say it’s difficult to know just how many shareholders there are because the records are not current and many of the people on the list are dead, MyHorryNews reported.
David Williams, interim director of the city’s Department of Parks, Recreation & Tourism, said, “It’s been done before and it can be done again, but it will take money.”
However, the idea appears to be going nowhere with Conway Mayor Barbara Blain-Bellamy saying it might be nice to own it, but the city has so many projects going now that she can’t imagine tackling another one, MyHorryNews reported.
Tell Us What You Think!
You must be logged in to post a comment.