Manhattan Club Lawsuit

stephenh262 wrote:

What will an attorney be doing for the owners? Is the goal to have the developers buy back the timeshares at the cost paid?

That would take divine intervention, most likely..... But would be divine justice!

Can the A.G. stop Eichner from renting out his inventory until there's resolution??? That would make it slightly better for the owners. Does the A.G. have the power to make the Developer a.k.a. the management company reduce it's criminally high fees? What a shame. The MC could be such a good product. I just wish Marriott would take it over.

There are many different goals being sought by various dissatisfied TMC owners. I've been an owner since 1999. Here is a list of wants that i've heard about:

- the ability to get into a unit with reasonable advanced reservations rather than the 9 months-to-the-day-at 9am policy & procedure currently in practice. Most of us were told that 72/24 hours would be sufficient time to reserve/cancel (a major attraction for the investment)

- priority booking over internet sales (hotels.com & others..., RCI, Interval International, Disney or other exchange systems'.. and other relationships & management deals (exchanges were not part of the system "back then")

- lower and/or slower growing annual maintenance fees (I knew that the first years were subsidized by TMC, and that the MF's would increase... we didn't know by how much.)

- ability to sell a share on the open market, without the TMC having first rights of refusal.. allowing the marketplace to set the price... instead of TMC being able to control the price/value of the unit/time.

- ability to sell back a unit to TMC at a reasonable price (Not the pay current PAY-THEM-TO-TAKE-IT-OFF-YOUR-HANDS scheme)

- ability to permanently terminate the relationship somehow... and not pass on the deed/interest to ones estate/ inheritors, and the burden of PERPETUAL maintenance fees, without ruining ones credit or other aspects of ones financial status.

- return on investment (many were told that the value of say... a 20,000/week 'forever' investment would increase and be a highly marketable and value-increasing investment in NYC)

- some combination, or all of the above and PUNISHMENT for Eichner and others

- return of some/all of the monies (maintenance fees) that people paid in...yet were unable to actually reserve and use the time for which they paid.

- I guess there are some owners that are so bittered by the relationship, that they also want some kind of 'pain & suffering' compensation as well.

I'm not sure what the NYSAG is 'going for', or what might happen in the end, but, many of the owners (20,000?) are totally fed up with their inability to 'get in' and the growing maintenance costs.

Outstanding summary of owner wants. Would like to speak with you about your experience. Please contact me at jeff@redweek.com with your phone and I will call you Monday 3-23.

katbangle@aol.com #631.946.1631 call me, thanks

I agree- an outstanding summary of some or all or what I would like to see happen. Are there any interesting results to the meeting that was supposed to be held last week?

Congratulations to Jeff! A great and useful summary.

Is anyone collating the names and contact information for a cumulative submission to the AG? Remember politicians are heavily influenced by numbers and we should certainly have the numbers.

Jamesg658 <jamesmd@hoehn.us>

Today I received a letter from the AGs office in reply to one I forwarded to him earlier this month. His director of correspondence Jennifer Ticknor told me my detailed letter of complaint re TMC was forwarded to the Real Estate Finance Bureau. She said they may contact me if they require mire information. This dept. phone number is 212-416-8122 should you wish to contact them.

I recently received a request from Financial Services to pay my 2015 dues. Following is my response. If I hear anything of value for this forum I will post it.

In addition to responding to my questions below, I would like to know how much of my maintenance fee is going towards paying the owner's legal bills for the state AG lawsuit. Also, how much of the fee represents "retained earnings" (profit) for the owner? How are the board members, who presumably approve the annual maintenance fee increases, elected? I have never received a ballot to vote for the board of directors. Are all appointed by the owner? Is there a cap to how much the maintenance fee can go up each year? Mine has increased on average 10% in recent years, and has gone up over 400% since I purchased my week in 2000. Was the initial fee ($500) a "teaser"? What accounts for such exorbitant increases? What is TMC doing to exercise financial restraint so that owners are not priced out of their ownerships? Again, I would appreciate a written response to these questions.

----- Original Message ----- From: Paul deWitt <pauldewitt@bendbroadband.com> Date: Monday, March 23, 2015 2:36 pm Subject: Re: Contract number 11999

> How much is the fee for 2015? I don't understand how you can > assess the fee when TMC is enjoined from sales during the lawsuit > and owners are not allowed to give their units back. No one in > their right minds would even take it as a gift with all the > questions surrounding the lawsuit. I tried to do that last year and > the other party backed out after finding out about the litigation. > I would appreciate a response to this email, not a phone call. > > Sent from my iPhone

Thanks for this very helpful service at this time,I too am an owner at MC since it was first sold over the years it has become more difficult to use it as i intended and now I have to book through RCI at other locations or loose my time.I have sent a complaint to AG and received confirmation from that office.Is there any way to obtain a list of all the owner so that they can be ade aware of the AG ivestigation,I feel many people are not aware of this serious situation.Thanks.Christopher Flanagan.floyde63@yahoo.com

William Gurnee and Catherine Brennan Gurnee. Billgurn65@yahoo.com

William Gurnee and Catherine Brennan Gurnee Billgurn65@yahoo.com

Flavia Taggiasco and Roberto Colucci. Viale Mazzini, 119 - 00195 Rome, Italy Ftaggiasco@yahoo.com

Am just now reading about the manhattan club lawsuit and totally agree. Don't know if too late to engage. We own 2 weeks there and have since the late 90's.

Joan and Peter Seda jeseda@charter.net

alexc100 wrote:

Hi davide380, If you like to participate in the MC Survey for the Class Action Lawsuit please email corspeak77@yahoo.com or alexcrystal22@gmail.com. Please provide your name on your Contract and Unit # . We will send you the Survey.

Thanks,

Alex

As I have written here in the past, I have organized a group, now 19-20 people who have each contributed $500 and hired a NY real estate attorney to assist in any way with the NY Attorney General's investigation into any wrongdoings by the Manhattan Club. I think we have had some success and would like to see this group expand because I think the larger the group the more influence we can have. Please understand that this is NOT a lawsuit. The alternative is that we can sit back and just wait for the AG's decision. I wasn't willing to do that and I think that this is the best chance that we now have to make a difference. If you are interested in joining or would like more info please email me at jdp441@gmail.com or call me at 410-236-9518. Jonathan Philipson

pseda wrote:

Am just now reading about the manhattan club lawsuit and totally agree. Don't know if too late to engage. We own 2 weeks there and have since the late 90's.

Joan and Peter Seda jeseda@charter.net

alexc100 wrote:

Hi davide380, If you like to participate in the MC Survey for the Class Action Lawsuit please email corspeak77@yahoo.com or alexcrystal22@gmail.com. Please provide your name on your Contract and Unit # . We will send you the Survey.

Thanks,

Alex

Please provide the name and address of the attorney you have hired.

Joseph Lindo and Mary Lindo

josephlindo@me.com

We own 2 weeks which were bought privately from original owners.

Hi-

I’d be happy to speak and become involved in the lawsuit.

We own two units at the Manhattan Club.

I have posted on the Manhattan club facebook scam page and am happy to help.

As I mentioned on the page, the biggest issue is the renting of units and after that is the overselling.

Is this the best number to get you at: 410-236-9518

All the best,

Ralph

jonathan2 wrote:

As I have written here in the past, I have organized a group, now 19-20 people who have each contributed $500 and hired a NY real estate attorney to assist in any way with the NY Attorney General's investigation into any wrongdoings by the Manhattan Club. I think we have had some success and would like to see this group expand because I think the larger the group the more influence we can have. Please understand that this is NOT a lawsuit. The alternative is that we can sit back and just wait for the AG's decision. I wasn't willing to do that and I think that this is the best chance that we now have to make a difference. If you are interested in joining or would like more info please email me at jdp441@gmail.com or call me at 410-236-9518. Jonathan Philipson

pseda wrote:

Am just now reading about the manhattan club lawsuit and totally agree. Don't know if too late to engage. We own 2 weeks there and have since the late 90's.

Joan and Peter Seda jeseda@charter.net

alexc100 wrote:

Hi davide380, If you like to participate in the MC Survey for the Class Action Lawsuit please email corspeak77@yahoo.com or alexcrystal22@gmail.com. Please provide your name on your Contract and Unit # . We will send you the Survey.

Thanks,

Alex

jonathan, i agree with your premise of not being willing to await the results of the NYSAG's "lawsuit." however it seems that you're quite positive that the real estate attorney that you've (and other contributors of $500) retained will, in fact, speed up the proceedings to our benefit. i'm not convinced that this tactic will work. it seems (albeit a slow process) that the AG is doing his best re his allegations against THE MANHATTAN CLUB. certainly, as an elected official, he wants to win all the legal issues that he initiates...that goes without saying. however, i still believe that hiring another legal expert is "guilding the lily" at this juncture. i would appreciate your input into my comments, especially about how you expect the attorney you've engaged to speed up the AG'S current legal suit...TO THE MANHATTAN CLUB'S OWNERS'/SHAREHOLDERS' FINANCIAL BENEFIT.

respond asap. thanks, jon.

chris

Joseph and Mary Lindo josephlindo@me.com