Dec. 3, 1998 * Vol . 13, No. 7
Dec. 3, 1998 * Vol . 13, No. 7
by Kathryn Aberle
The Diamond University Club Society has been spared the likelihood of declaring bankruptcy following a vote by the Simon Fraser University board of governors on Nov. 26.
The board has agreed to forgive the debt owing to the university, and expressed a willingness to settle valid claims and liabilities to other creditors when the society ceases operation of the facility on Dec. 20.
Members of the board agreed this was the best course of action if the facility was not to be tied up in years of red tape.
There was also unanimous agreement that the existence of the facility and the type of services previously provided by the club are critical to the university community.
With that imperative in mind, work is continuing to find a way of maintaining services under some new form of management for the facility operating under the name of Diamond University Centre.
The complexity of winding down the existing operation and providing alternative services at the Diamond University Centre will take time to resolve.
"While the facility will likely be closed for a time beginning in the new year," says SFU President Jack Blaney, "every effort will be made to find a solution that will see the centre commence its new operations at the earliest possible opportunity. It will then be available as a social and meeting place where all members of the community can gather to share a meal or participate in special receptions, convocation, honour roll celebrations and other university events."
In the meantime the Diamond University Club Society will hold a special meeting on Dec. 16.
At that time the membership may, according to the provisions
of the societies act, vote to wind down the activities of the
society.
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