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Re: Manhattan Club Lawsuit (by Becky F):

johnd2105 wrote:

A lot of you have spent a lot of time on these posts.

What percentage of owners have stopped paying their fees?

I ask this because the Manhattan time share model is as follows.

When a time share owner does not pay their fees this is what happens. Each owners fees increase. Check your annual Manhattan financial statements. The escrow amount has increased dramatically and the each owners fees keep increasing.

To keep it simple: If all but one owner stopped paying their fees this is what would happen.

One owner would now be responsible for all the fees. The owner would not pay.

The Manhattan club time share would declare bankruptcy.

I’m sorry but This is all a crock of crap! For years Eichner skimmed $6M a year from a phony shell company which he took directly from the owners (AKAthe homeowners association) which put the operating budget into deficit. If there is blame to be had it should be placed squarely on Eichner’s shoulders! NOT on the shoulders of the owners who have stopped paying their fees because they couldn’t get time in “their own timeshare that they shelled out THOUSANDS of dollars for. The fact that the Manhattan Club is now A BOUTIQUE HOTEL (WHICH IS HOW ITS ADVERTISED) and no longer a homeowners association is evidence that the Manhattan Club is not what you thought you bought. So what if the Manhattan Club has to file bankruptcy! If you’ve been paying attention you’d realize your initial outlay is LONG GONE and your “investment” is WORTHLESS! You couldn’t even give it away if you tried. And, you’re paying more every year in maintenance fees than if you stayed at a nice hotel.