The Cyprus Community of NSW has confirmed the appointment of Ernst & Young Australia (EY Australia) executives, Morgan Kelly and David Kennedy, as Voluntary Administrators for the organisation.
The appointment was confirmed on Tuesday 24 September with directors of the Club doing so due to concerns regarding the future financial position of the club, following an injunction preventing a member vote on plans to redevelop or sell its Stanmore property.
Kelly, Partner at EY Australia, said the primary objective of the administration is to secure a longer-term future for the organisation.
“We understand these are uncertain times for employees, Club members, and the community. Our priority is the continuation of services at The Cyprus Club to minimise disruption,” he said.
“The Cyprus Club has a long and proud history and plays an important part in the community. We are committed to having regular and clear communication with members, employees and all stakeholders.”
It was confirmed that there will be no interruptions to any of the Club’s operations in the immediate term.
The Community’s various services (Saturday Greek and dancing schools, community football, the kafenio, the Saturday Café and Cyprus consular services) will all continue without disruption and trading hours will remain the same.
