This is a jumbled and confusing post, supposedly released in...

This is a jumbled and confusing post, supposedly released in July this year. Hopefully this Kooralbyn issue will be settled once and forever at tomorrow's meeting.



Submitted by Anonymous on Sun, 2013-07-28 21:20
Buyers circle troubled Kooralbyn Local BusinessTHE doors may have been shut at the Kooralbyn Hotel Resort yesterday but hopes were high that a buyer could soon be found for the troubled property.The Gold Coast Bulletin reported on Saturday that the resort's owner, Kooralbyn International Resorts, was placed into liquidation last week. It has reported debts of $60 million.However,according to sources within the tightknit community south of Beaudesert, buyers have begun circling the company's assets, which include the hotel, a 36room golf lodge, golf course, tennis centre, polo fields and equestrian centre.Kooralbyn Reality's Shane Zagami said it was business as usual on the streets of Kooralbyn yesterday, despite the resort closure and the loss of about 70 jobs.He said the closure of the golf course presented the biggest worry for some people, with Kooralbyn a favourite haunt for weekend hackers.Kooralbyn International Resorts last year took control of the course, causing a revolt which led to twothirds of members of the Kooralbyn Valley Golf Club splitting from the proposed new Kooralbyn Resort Golf Club.Some members yesterday were hopeful that the original members may come back into the fold under a new owner.Mr Zagami said he had heard there were 'several buyers in the wind' for the resort. "We're very optimistic it will reopen and very quickly," he said.Liquidator Peter Lucas, of PA Lucas and Co in Brisbane, was appointed to wind up the company last Wednesday.Mr Lucas did not return calls yesterday.Kooralbyn International Resorts is controlled by former New Zealand businessmen Ray Schofield who bought the resort for $12 million in 1997 from troubled Japanese company Towa Resorts.