Cyprus Community of NSW’s EGM cancelled, what is next

The uncertainty for the administration and financial future of the Cyprus Community of NSW and its Club in Stanmore continues after the cancellation of its Extraordinary General Meeting that was to take place on Sunday, February 11.

A legal injunction that was put forward by concerned members proved successful in delaying any decision over what to do with the organisation’s Stanmore property.

Mrs Dorothy Bassil spearheaded the injunction on behalf of the concerned members, who had previously addressed a letter to the Community’s Board on January 30 requesting the postponement of the planned February 11th EGM.

Their issues related to what they stated were deficiencies in the Resolutions and the EGM documents, with them requesting more time for the Community to address them and provide further objective facts and figures on the pros and cons of either staying and renovating the Club or selling and relocating.

The Supreme Court ruled on Thursday, February 8, that the Community be restrained from holding the proposed EGM, leading to its cancellation.

Mrs Bassil stated that these same concerns were shared by members before the proposed October 2023 EGM on this topic, which was the cause of that Meeting’s cancellation.

“Members requests for full information from qualified consultants and experts on their stay or sell options were again being ignored by the board despite assurances last October that the board would address these prior to a second EGM being held,” Mrs Bassil said.

“The members were being asked to decide about selling or developing a potentially $100 million site at Stanmore, based solely on the views of a board that was not qualified to advise them.”

Mrs Bassil stated her disappointment that the CCNSW Board allowed the decision to go to Supreme Court despite them having nothing to defend the EGM process and the deficient resolutions and documents.

“The legal action was fully avoidable, but the board chose not to engage with members around the serious deficiencies in the EGM process and Resolutions. Instead, it wasted members money and supported a misinformation campaign against concerned members,” she said.

Michael Kyriacou, the CCNSW President, shared his belief that the court action could prove to have a positive impact as it has made the Community put everything on the table and get everything out into the open.

“We have a few ideas about how to move forward from this. Clearly the community is divided about staying or selling and I do not think there is a clear majority on either side,” Mr Kyriacou told Neos Kosmos.

“The next step is going to be the definitive step about the future of the Club’s location but I think that members do not understand that it does not matter where you are, we are still a community. That is the point I am trying to make with a lot of people at the moment.”

The CCNSW President said they will hold an information session, likely in the next three-four weeks, where everyone will be able to vent their frustrations and raise their concerns but ultimately, they will all need to come to some sort of agreement for the Club’s future.

“I do not think there can be any other way out than a compromise,” Mr Kyriacou said.

“There is a strong move from some of our senior members to stay and there is an opinion from some younger people that want to go to a big park somewhere and I think we can do both successfully.”

The Community’s President also asked that any concerned members refrain from airing their thoughts publicly through online platforms as it may be having an adverse effect from what it is intended.

“I know they mean well, they are good people, but their behaviour is not very helpful,” he told Neos Kosmos.

“The non-Greeks, including the judge last week, are not impressed with what is happening online. The English-speaking media is not impressed with what is happening online and they are very confused.”

The Community had previously indicated they would hold an Annual General Meeting in April, but Mr Kyriacou has said this will likely not take place until later this year as they still have matters to resolve such as the Club’s future and the situation with Bendigo Bank.

“We will have the AGM in due course,” he said while indicating it would likely be held in roughly four-five months.

Mr Kyriacou shared that he is interested in serving for the interests of the entire 1,200 membership base of the Community while being interim President and welcomes individuals with strong interest to contribute by joining the Board come elections.

“Anybody who thinks they can turn this boat around should put up their hand, put up their policies and prove they have got the track record to do it (which is very important) and I wish them all the best,” the CCNSW President said.

“We need people who know what they are doing, with a track record in business, in community, in management, in academia to take the helm and turn this massive ship around because it is a big ship.”

Mr Kyriacou reinforced that the association is still active and doing well with its various initiatives such as its Greek school, dancing group, its football team, but that the future of their property needs to be resolved to reduce their extra noise.

“The Community is dynamic, popular, and is going places. We just have to work out the building situation. We cannot stay where we are in the current state it is in,” he said.

The CCNSW President also reiterated that the valuation of the Club (estimated currently between $80-130 million) has no meaning if no action is taken, and thus called for members to hold their enthusiasm until a decision on what to do with the property is made.

An additional goal Mr Kyriacou has in mind is trying to gain more younger members for the organisation, with him saying that ¾ of their members are above the age of 55.

He argued that this is equally important as the Club because the Community could die out if it does not have sufficient youth.

“The Community has got to survive and it has got to prosper.”