ST. MARYS – According to court documents filed on March 12, 2012, St. Marys Country Club President James R. Slay filed for Chapter 11 bankruptcy and the club closed on Aug. 31.
The voluntary petition was filed with the U.S. Bankruptcy Court, Western District of Pennsylvania, and listed Slay as the debtor. According to the petition, the club is a tax-exempt organization under the Internal Revenue Code and has both estimated assets and liabilities between $500,000 and $1 million.
Located at 535 S. Michael St. and most recently known as the St. Marys Golf Club and Diamond View Restaurant and Lounge, the business was formerly a private club and went public only a few years ago. After a temporary closure while some restructuring changes took place, it opened again only to close after the bankruptcy petition was filed. The attorney for the golf club is listed as Guy C. Fustine of Knox McLaughlin Gornall and Sennett, P.C. of Erie.