Manhattan Club Lawsuit

Linda, Alex was the first post here six years ago. He has not been heard from for some time. Read the last 10 pages or so if you want to know what is going on now. The MC and the NYAG have reached an agreement. Read and learn.

I do see your point. Even though I’ve paid the fees I too was unable to use days (until now) and have banked the time with RCI. There are so many that I’ll most likely never be able to use before they eventually expire. It’s been very frustrating all around.

I don't know if this would work or not, but I have always been a big fan of the Small Claims Court. You don't need representation, you can just go and state your case. It's easy to file and it costs them money to send a lawyer there to represent them, even if you lose. If they blow off the court time, they lose. I would file in several municipalities, NYC, and the municipality where we each individually live. It might be a success or it might be a harassment to them, but either way, I would do it if I still owned it. I would do this now, but TMC bought my timeshare back for $200, yes $200!!!! Awful.

Chris, Nathan has a great point. If you are expressing your ideas and thoughts with AUTHORITIES or the Eichner regime, bravo and godspeed. But 'yelling' on this forum doesn't get your thoughts to the right people.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

Thanks Dennis!

I don't think I'll be changing Chris' mind or behavior. I know he's not convincing me.

So after this is resolved, and the settlement has been distributed, maybe we'll run into each other someday and see who guessed closer to the actual result.

Until then, we'll just have to agree to disagree.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

Looking forward to when this entire matter is finished.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

Hopefully we will all have more information soon.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

Even though there is still much to work out I appreciate the NYS Attorney General's office for their efforts.

Chris, Nathan has a great point. If you are expressing your ideas and thoughts with AUTHORITIES or the Eichner regime, bravo and godspeed. But 'yelling' on this forum doesn't get your thoughts to the right people.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

No

thomasm832 wrote:

Maybe this thread can be retired and a new one started for post-AG investigation discussion/info?

deborahs528 wrote:

I have asked Kylie at Redweek and she responded it isn't possible to change the title of the forum.

Thank you

kevin631 wrote:

Jeff@Redweek- You and the information you posted was incorrect.An settlement with the Manhattan Club was announced today. I question how you and Redweek receive your uninformed and incorrect information and can post it as fact?

jeff_reports wrote:

Hello again to all TMC owners.

Want to update you all, once again, that there is NO class action lawsuit pending against the club. All talk and posts on this forum about a class action lawsuit are wish fulfillment, not based on any facts that RedWeek is aware of.

JESUS! Kevin!!!! So redweek was 'wrong' by a day or two?? And you're giving Jeff this kind of crap after he faithfully kept us informed for the past 4 years??? REALLY? - and Redweek hosting this platform??? You're being ridiculous.[/Q

Dennis-No need for such "outrage". If you think I am being ridiculous just ignore my comments..

thomasm832 wrote:

Thomas: are you telling me not to express my opinion and thoughts on the subject? I hope not...

Would be great to know if the whole settlement is going to the "owners" or if some if a fine to NYS and if so what the breakdown is, or even better simply how much restitution each owner is getting. Looking forward to the notice from the AG and more info here!

EDIT: I see it says the 6.5 M will go to the "owners". Excellent!

(Kevin - so he wasn't provided the info one day and then got it and posted about it when he did - good lord who cares??? If you don't appreciate the info here, after all Redweek has done to keep us informed, just don't come here!).

Would be great to know if the whole settlement is going to the "owners" or if some if a fine to NYS and if so what the breakdown is, or even better simply how much restitution each owner is getting. Looking forward to the notice from the AG and more info here!

EDIT: I see it says the 6.5 M will go to the "owners". Excellent!

(Kevin - so he wasn't provided the info one day and then got it and posted about it when he did - good lord who cares??? If you don't appreciate the info here, after all Redweek has done to keep us informed, just don't come here!).

Thomas:are you telling me not to express my views and thoughts on this matter? I hope not.. ...

thomasm832 wrote:

Thank you Jeff for the info. Great news!

Would be great to know if the whole settlement is going to the "owners" or if some if a fine to NYS and if so what the breakdown is, or even better simply how much restitution each owner is getting. Looking forward to the notice from the AG and more info here!

EDIT: I see it says the 6.5 M will go to the "owners". Excellent!

(Kevin - so he wasn't provided the info one day and then got it and posted about it when he did - good lord who cares??? If you don't appreciate the info here, after all Redweek has done to keep us informed, just don't come here!).

Thank you

Hi Kevin and all, I just want to remind that the details of the settlement are in the process of discussion at the Court. Next court appearance was scheduled for November 15, 2017. I posted that info more than a week ago, seems that message was not noticed.

I had subscribed a while ago for the e-Track, which is the New York Supreme Court tracking service that automatically sends a subscriber an email notification when activity occurs in cases which you have chosen to select for notifications. Subscription also allows to access the court docs.

I am not a lawyer to analyze the proceedings and make conclusions on the results (wish Jeff would help with that), I just share the updates to let you know. Plz be calm and patient ...

Below is the fragment of the last e-Track email I received on September, 22. ************************** eTrack Supreme: SCHNEIDERMAN, IN THE MATTER vs. EICHNER, IAN BRUCE (0451536/2014) Updated

Future Appearance Date: 11/15/2017

On For: Supreme Initial (first time on)

Appearance Outcome: OTHER SETTLEMENT (PRE-NOTE) --- Information updated

Justice: CRANE, MELISSA ANNE Part: COMPLIANCE CONFERENCE 15 Comments: 10:30 A.M. STD F/W CC 9/14/17 --- Information updated **********************

fibon wrote:

Hi Kevin and all, I just want to remind that the details of the settlement are in the process of discussion at the Court. Next court appearance was scheduled for November 15, 2017. I posted that info more than a week ago, seems that message was not noticed.

I had subscribed a while ago for the e-Track, which is the New York Supreme Court tracking service that automatically sends a subscriber an email notification when activity occurs in cases which you have chosen to select for notifications. Subscription also allows to access the court docs.

I am not a lawyer to analyze the proceedings and make conclusions on the results (wish Jeff would help with that), I just share the updates to let you know. Plz be calm and patient ...

Below is the fragment of the last e-Track email I received on September, 22. ************************** eTrack Supreme: SCHNEIDERMAN, IN THE MATTER vs. EICHNER, IAN BRUCE (0451536/2014) Updated

Future Appearance Date: 11/15/2017

On For: Supreme Initial (first time on)

Appearance Outcome: OTHER SETTLEMENT (PRE-NOTE) --- Information updated

Justice: CRANE, MELISSA ANNE Part: COMPLIANCE CONFERENCE 15 Comments: 10:30 A.M. STD F/W CC 9/14/17 --- Information updated **********************

Thank you. Very helpful information.

Kevin631; I have been communicating with the NYAG, and they with me. I sent a letter and a variables analysis that recommended the appointment of a Special Master who would unravel the questions surrounding validating ownership, TMC mortgage & tax records (vs. NYC Dept of Finance). Sorry if it seemed that I was quashing Kevins comments... I encourage him to ALSO send ideas to NYSAG & TMC.

kevin631 wrote:

Dennis: have YOU contacted the "authorities" concerning this issue? I assume you have since you are suggesting to others that they should.If you have not then I guess you will no longer be posting here. Everyone should be able to express their own comments and views on this forum without feeling intimidated or spoken down to.Please no more sermons or speeches. We are all adults and we will all continue to have our own views which we should be able to express freely.Thank you.

Chris, Nathan has a great point. If you are expressing your ideas and thoughts with AUTHORITIES or the Eichner regime, bravo and godspeed. But 'yelling' on this forum doesn't get your thoughts to the right people.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

dennisc283 wrote:

Kevin631; I have been communicating with the NYAG, and they with me. I sent a letter and a variables analysis that recommended the appointment of a Special Master who would unravel the questions surrounding validating ownership, TMC mortgage & tax records (vs. NYC Dept of Finance). Sorry if it seemed that I was quashing Kevins comments... I encourage him to ALSO send ideas to NYSAG & TMC.

kevin631 wrote:

Dennis: have YOU contacted the "authorities" concerning this issue? I assume you have since you are suggesting to others that they should.If you have not then I guess you will no longer be posting here. Everyone should be able to express their own comments and views on this forum without feeling intimidated or spoken down to.Please no more sermons or speeches. We are all adults and we will all continue to have our own views which we should be able to express freely.Thank you.

Chris, Nathan has a great point. If you are expressing your ideas and thoughts with AUTHORITIES or the Eichner regime, bravo and godspeed. But 'yelling' on this forum doesn't get your thoughts to the right people.

chrisv126 wrote:

nathanz2, your comments are certainly understandable. frustration has captured most of us, and this redweek.com forum helps us to vent a little, and make some sense of all of this crap and nonsense. your comment, "stop stirring the pot," seems to imply that we owners should roll over and play dead. NO WAY. if we do that, the battle will have been lost. the fact is, we need to stir the pot more vehemently than ever and make those who will administer the bottom line of this ridiculous law suit make accurate note of what we owners deserve: financial and other remuneration for our great losses.......................DUE TO OWNERSHIP IN TMC. IT'S TIME FOR SOMEONE TO COME TO OUR RESCUE INSTEAD OF IGNORING WHAT WE JUSTLY DESERVE. it appears that the nysag has earned his salary and won his case. to date we have been left hanging, since schneiderman works for new york state and not for duped and scammed owners of TMC. it appears that we are left to fend for ourselves which translates to our continued pushing for our legal riights.............continuous stirring of the pot, if you will.

..........and justice for all. keep in touch. pax,

chris

nathanz2 wrote:

OK.

I don't know any more about the specifics of the settlement than anyone else, just what was in the press release and what I was told by the head of the Real Estate Enforcement Division of the NYAG. I have shared that already.

The investigation has ended. A settlement has been reached. We are all waiting for the details to be released. I have no evidence for this, but I wouldn't release the settlement until I had the administrator and new management company lined up.

No amount of wishful thinking is going to change the result of three years of negotiation by the NYAG and the MC's high priced legal team. If you can locate a private attorney to take it from here, have at it. It seems to me that those efforts didn't go so well before the NYAG started the investigation. Perhaps they will go better now, but again, in my opinion, the odds are against it.

My personal belief is that few if any MC owners will be satisfied with the financial aspect of the settlement. But my interest will become marketable at whatever value the market places on it rather than being frozen. That is something of value to me.

I will be interested in seeing how owners who have not paid their maintenance fees will be treated. Do you think anyone escrowed those funds? Regardless of what the MC may have done, failure to pay without an escrow is just non-payment. Now that the situation is nearing resolution, I feel payment of past due fees should be required, perhaps at a modest discount, and used to upgrade the MC physical plant.

Unwinding this complex situation is a problem of huge proportions. Assertions of what is "right" and "deserved" or dividing $6.5 million by some number of owners doesn't help with the resolution,... especially after a settlement has already been agreed! In addition, the Eichner's may be out of the Manhattan Club, but I haven't heard anything about their ownership of the Park Lane Hotel. We are going to be intertwined with the Eichners as long as they own that property, with shared floors, elevators and who knows what else! Anyone care?

Let's stop "stirring the pot," and simply wait for the disclosure of the settlement. There are so many real questions that will need discussion, we don't have time for this stuff.

With all due respect.

Thank you.

Trying to figure all this out and posting on forum is a great therapy session.