After a yearlong struggle, the sale of the Reserve Golf Club at Pawleys Island to McConnell Golf has been approved, which will lift the South Carolina club out of bankruptcy and launch a plan for reorganization.
The 300 active members who owned the club pushed for a sale to McConnell Golf in May 2009, but the sale was stalled by a class action lawsuit initiated by four resigned members who paid large sums in initiation fees. Under the club’s bylaws, about 175 resigned members were eligible for eventual reimbursement of their initiation fees but the judge’s ruling on the lawsuit prevents resigned or inactive members from gaining compensation.
“This is fantastic,” said Reserve Club president Ben Catanzaro. “This has been going on for a year. We’re ecstatic.”
The reorganization plan under McConnell Golf includes at least $2 million in improvements within four years, including work on the practice area and greens. McConnell also hopes to boost membership by offering multiple club memberships to the six courses they now own.
