Golf club members threaten legal action against Lee family over fees and governance
Consensus Summary
More than 100 members of the Terrey Hills Golf and Country Club, controlled by the Lee family, have threatened legal action against management over claims of oppressive conduct and excessive fee increases. The club, purchased a decade ago, has seen annual subscription fees rise by over 20 per cent in the past two years, according to members, who also allege new joining and administration fees were imposed. Felix Ming Ze Lee, the 25-year-old son of billionaire Phillip Dong Fang Lee, was appointed director in November 2020 and later became chairman, alongside his younger brother and uncle. The board rejects claims of constitutional breaches, stating fees are determined by working capital and expenditure. Meanwhile, membership resale values have plummeted, with some members waiting years to sell their shares for far less than their original purchase price. The clubās annual general meeting in June 30 was abruptly closed by Felix Lee after he announced no dividend would be declared. Separately, an investigation into Phillip Leeās financial affairs suggests he may still hold business interests in China decades after claiming to have sold them.
ā Verified by 2+ sources
Key details reported by multiple sources:
- Felix Ming Ze Lee is a 25-year-old son of billionaire Phillip Dong Fang Lee
- Terrey Hills Golf and Country Club was purchased by the Lee family a decade ago from Japanese investors
- Felix Lee was appointed director in November 2020, weeks after his 20th birthday
- Felix Leeās younger brother Edward Feng Zhao Lee was appointed early last year, soon after his 19th birthday
- Felix Leeās mother Xiaobei Shi stepped down early last year
- A member-elected committee was abolished three years ago and replaced with an advisory panel appointed by the Lee family directors
- Annual subscription fees have risen more than 20 per cent in the past two years, according to members
- The board claims joining and administration fees have been in place since about 2000
- A founding member sold their membership for $12,000, less than the clubās new joining fee of $12,500
- James de Stigter paid about $45,000 to join the club and is now on a waiting list to sell his membership
- Stephen Schinagelās wife Heather Meadās membership was valued at about $20,000 late last year, down from $65,000 in 2017
- The annual general meeting was held June 30, but Felix Lee closed it after announcing no dividend would be declared
- The tax commissioner alleges Phillip Lee still has business interests in China decades after claiming to have sold them
- Felix Lee founded the Lee Family Office to distance himself from his fatherās business affairs
Points of Difference
Details reported by only one source:
- Former Victorian premier Dan Andrews checked out the championship course earlier this week
- George Kalil met Felix Lee at a committee meeting in about 2023 and described his first impression as Felix launching into a tirade saying āyou guys have to know your placeā
- A member expects to sell their membership for about $9000 after being injured and unable to play for the past 18 months
- The club has a $7.2 million cash reserve
Contradictions
Conflicting information between sources:
- The members claim annual subscription fees have risen beyond a constitution-mandated cap of 5 per cent a year, but the board rejects the existence of such a cap
- The board denies imposing new joining, administration, and registration fees, while members allege these fees were recently introduced
Source Articles
Mutiny on the golf course: Why members are threatening legal action against billionaireās son
If Felix Ming Ze Lee, whose billionaire father is alleged to be a tax cheat, is wondering what else could go wrong this week, members of the Terrey Hills Golf Club have bad news.
Mutiny on the golf course: Why members are threatening legal action against billionaireās son
If Felix Ming Ze Lee, whose billionaire father is alleged to be a tax cheat, is wondering what else could go wrong this week, members of the Terrey Hills Golf Club have bad news.