Golden Shores Holiday Club Limited

Golden Shores Holiday Club Limited (Golden Shores) operated the timeshare for the property at 210 Marine Parade, Labrador (Property).

Anne Meagher and I were appointed as Statutory Trustees for the sale of the Property and the Property was sold on 2 July 2024, with settlement occurring on 29 November 2024. Most of the net sale proceeds were allocated to Golden Shores, with the remainder retained by the Statutory Trustees for later distribution to title holders.

Golden Shores Holiday Club Limited (Golden Shores) is now being wound up through a process called a Members’ Voluntary Liquidation (MVL). This is a process for winding up a solvent company and distributing residual funds to members/shareholders.

There are 1,632 interests in the timeshare (Member Shares) and 1,632 interests in the Property title (Title Shares).

In most cases, parties have equal Member Shares and Title Shares, though not always.

All available funds after liquidation costs will be distributed to members in one payment.

I will provide an estimated amount per Member Share soon. The final amount depends on liquidation costs, which may change.

If you missed previous distributions from Golden Shores before our appointment of $2,770 per Member Share, you will also receive back payment.

Title Share distributions will be handled separately by the Statutory Trustees. I currently estimate $400–$450 per Title Share will be available, but this may change.

To minimise costs, there will be one distribution only.

Before payment, we need:

• ATO approval (we have engaged an accountant; timing depends on ATO responsiveness)
• Statutory Trustees’ distribution to the Company (they require Court instructions before paying Title Share holders (which includes the Company)

We currently anticipate payment by June 2026, though we cannot confirm this.

Yes. A detailed breakdown will be posted on the portal in the coming weeks. We are unable to provide this information earlier

Yes. Funds held by the Company are in an interest-bearing account.

You are not required to do anything further at this stage.

You do not need to call or email the Liquidator or Statutory Trustees.

Due to the number of members, it is possible that the costs associated with the liquidation could increase significantly in the event of unnecessary communication with members, which will reduce the amount available to distribute to members.

To update your contact details, email goldenshores@svp.com.au

I will provide further details for updating your payment details in due course.

I will post updates here and notify members of major developments from time to time.

Please avoid calling or emailing my office unless it is essential, as this will increase the costs of the liquidation, thereby reducing the return to members.