Members of the troubled Morris Motors Athletic and Social Club claim that its executive committee is about to deprive them of ownership of the club.
Now they have called a meeting for 8pm on June 17 at the Cowley Workers' Club, in Between Towns Road, to discuss their rights.
Morris Motors member Hugh Charles said: "We're angry at the statement from the acting chairman Rod Smitham that if the club goes into liquidation the assets will be given to charity.
"We're also angry that Mr Smitham is acting as chairman, when he has not been a full member for the qualifying amount of years and without having worked for Morris, Pressed Steel or BMW.
"And we challenge the acting committee's rights to change the rules without consulting all full members."
They also have questions about why former chairman, Tom Doliamie, now declared bankrupt and therefore removed from office, has been living at the club.
Mr Charles added: "Some people might wonder why the meeting is not being held at the Morris Motors Athletic and Social Club. The reason is that so many members have been barred by the acting committee that the meeting has to be held somewhere else."
Mr Smitham said: "We have already changed the status of the club from a benevolent society to a charitable society. This means that should the club go into liquidation, full members will only receive the original value of their share, ie £1, instead of a proportion of the assets after debts are paid."
He added: "The poster advertising the meeting is inaccurate when it says that the present executive committee was not properly elected. We called a meeting of members and all 34 present voted for us. They also voted for the rule changes. The club will survive, but it is financially shaky, with debts in excess of £200,000."
The current executive committee of the club is taking legal action, claiming £120,000 from former committee members. The case is listed to be heard at Oxford County Court on Wednesday.
Mr Smitham said: "The club stewards helped Mr Doliamie when he returned from Ukraine after being mugged there. When he returned, the stewards, who are friends of his, looked after him and offered him accommodation. He has now moved out."
Last year, the former committee dismissed Mr Doliamie as chairman. He sued them, was returned to office, and suspended the committee.
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