66 East Main Street, 3rd Floor Little Falls, NJ 07424

$ Paid for “Lifetime” Memberships – Club Goes Bankrupt

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Be careful when you sign up for those lifetime memberships in clubs.

A golf club (Sea Oaks Country Club – NJ) filed for Bankruptcy and the assets were sold.

Purchaser of assets was not obligated to pay back or honor the lifetime memberships.

67 individuals paid $50K to $60K for their lifetime membership  (WOW approximately $4 million).

Golfers hit a “DUFF” and buyer scored tremendously.

New Golf Club owner “ACED” his shot.