The Voluntary Administrators of the Cyprus Community of New South Wales are inviting members to attend an important information session on Tuesday, July 29, to receive updates on the proposed sale of the Club’s Stanmore property, interim relocation plans, and next steps in the administration process.
The session comes as the Administrators – Morgan Kelly and David Kennedy of EY Australia – have asked the Supreme Court of NSW to clarify whether they need members’ approval to sell the Cyprus Club’s Stanmore property.
Under the Registered Clubs Act 1976 (NSW), a vote of members is normally required before any “core property” can be sold. However, the Corporations Act 2001 (Cth) gives administrators certain powers to sell company assets without needing member approval when a company is under external administration. The Administrators are asking the Court to decide which act prevails in this situation.
The matter was listed for directions on July 21, and the Court has advised that members who wish to be heard may do so by formally filing a notice of appearance. These will be heard at a later hearing in August.
“We deeply respect the Cyprus Club’s legacy and have prioritised its ongoing operations and community services,” Administrator and Partner at EY Australia, Mr Kelly said in a press release.
“We are committed to having regular and clear communication with members, employees, and stakeholders and we look forward to the next opportunity to do so.”
The Cyprus Community is currently under voluntary administration due to financial pressures, and the Stanmore property is subject to a fire safety order issued by the Inner West Council.
The administrators have indicated that a preferred buyer has been identified and a sale contract may be executed pending the outcome of the Court process. Sale proceeds would be used to meet outstanding liabilities and assist in securing new premises to support the Community’s future activities.
The upcoming session will also provide updates on proposed governance reforms, including a new constitution “that complies with legal obligations and reflects best practices in governance,” as well as the possible establishment of a trust account “to manage the proceeds from the sale” – both “to be approved by members.” Members will also receive information on the planned timeline for a future board election.
“We look forward to engaging transparently with members as we work through these important matters,” Mr Kelly said.
The information session will be held at 6:00pm on Tuesday, 29 July 2025, at the Cyprus Community of NSW, 58 – 76 Stanmore Road, Sydney.
