Wednesday, 13 June 2012

Gold Coast Blaze saved by credditors

The Gold Coast Blaze will remain in the National Basketball League in the 2012/13 season which kicks of on October 5. The Team was saved from liquidation today following a credditors meeting at the Jupiters Hotel and Casino. The majority of the companies creditors voted in favour of a deed of company arrangement, put forward by the administrators which means they will revieve 7 cents to the dollar that they are owed. Not sure if this rights off the debt still owed to Brendan Joyce after being released from his 3 yr contract after 1 year, but it is good to see that the team will stay alive for at least one more year.

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