Hong Kong’s American Club to hold board meeting on Monday over ultimatum to non-US members
- Some members seeking legal advice over fairness of decision to redeem debentures in sudden move, Post learns
David Loan, general manager of the almost 100-year-old private club, told the Post on Friday the board would discuss the new policy and tell members if it made any revisions to the plan.
“They’ll talk about the whole thing, because obviously we’ve read what you’ve written … [and] what other media have written, and we will be talking about the whole programme on Monday night,” he said.
“Obviously, we’ve had lots of feedback from our members as well … If there are any revisions to the plan, our members will be informed on Tuesday.”
The club broke its silence after the controversial membership changes caught headlines three days earlier.
In an abrupt change of policy, club president Christopher Burgess announced in a letter to members, dated May 31, the new policy requiring non-American individual debenture holders to top up their membership by up to HK$1.5 million or leave the club.