Loan issue confusing
Regarding the future of Pine Brook Golf Club, I am confused. The club takes a $325,000 loan and then rents the club and restaurant for $2, and allows the managing firm to keep all of the revenues? How did they expect to pay the loan? Am I missing something?
Sounds like fraud, or a way to give it to Nathan Littauer Hospital.
Also, who was responsible for the loan – the board, Blasper Inc.? And why wasn’t it paid? It seems a golf course business that pays less than $25 a year in rent should be more than able to cover that loan.
East Northport, Suffolk County