BIU takes aim at PHC’s Reid Street premises
A trades union has asked a court to deliver an ultimatum to a sports club — pay a $1.5 million debt or lose its building in Hamilton.
The Bermuda Industrial Union has asked the Supreme Court to order Pembroke Hamilton Club to pay the cash or demand that the Reid Street building be sold, with the proceeds from the sale going to the union.
The BIU also asked the court to order PHC to give the union immediate possession of the property and all the documents needed to effect a sale.
Alternatively, the BIU has asked PHC to pay $1,532,000, outstanding as of June 6, 2017, along with interest at a daily rate of $293.81.
The BIU declined to comment on the legal action last night, but said that discussions with PHC continued. The case is understood to be linked to a $1.2 million loan made by the union to the club in 2001 to pay for a new lighting system and the resurfacing of the playing field at the club’s grounds on Stadium Lane, in Warwick.
The loan was to be repaid over a 17-year period through rental income from PHC’s two-storey building on Reid Street in Hamilton.
But it was reported in 2014 that the club had yet to pay the principal on the loan and the union had threatened to seek ownership of the Reid Street building.
PHC management outlined several proposals in 2012 designed to increase revenue and pay off debt.
Among the proposals was the sale of the Reid Street building, but the plan was rejected by influential club members.
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