The Canberra Club is expected to be officially wound up at what is expected to be a final members' meeting with the liquidator on Thursday, two years after the club went into administration.
The club went into voluntary administration in December 2014, after patrons and membership declined, and two efforts to merge the capital's oldest licensed club also failed due to the club's constitution.
RSM Australia Partners' liquidator Frank Lo Pilato said the company had been hit with a $34.5 million creditors claim, but after the club rejected the claim earlier this year, no appeal to the rejection was lodged in court.
He said the since-abandoned claim had delayed the expected winding up of the club, and the lack of an appeal to the claim's rejection was the final hurdle members' were waiting for before the club could be officially wound up.
"Basically the final matters remaining to be finalised are to approve our final remuneration and fees, and make sure the surplus is available, which will be transferred to the Canberra Services Club," Mr Lo Pilato said.
The club's stake in Canberra House on West Row in Civic, was sold to Morris Property Group in 2013, a site which now houses the Mayfair Apartments.
While Mr Lo Pilato could not confirm the quantum of the surplus that would be transferred to Canberra Services Club, this newspaper reported last year it could have been as high as $4 million.