Manhattan Club Lawsuit

Alex, I am Confused as to the time of this post. The original date was 2011. Are you re-posting this now? Thanks.

Hi Alex, I have been an owner forover 15 years and would like to participate in the lawsuit. Thanks!

:facepalm:

Lynn and Nicholas: Alex wrote the first post 6 years ago. If you want to know what's going on now, start reading around page 150. There is no lawsuit. There was an investigation by the NY Attorney General which has recently been settled. We are all waiting for further details.

Six million sounds like a lot. Watch how many come out of the woodwork to try to get a few bucks.

The estimate is that there are 14,000 - 18,000 purchasers. So $6M is a pittance.

williamm465 wrote:

Six million sounds like a lot. Watch how many come out of the woodwork to try to get a few bucks.

nathanz2 wrote:

Lynn and Nicholas: Alex wrote the first post 6 years ago. If you want to know what's going on now, start reading around page 150. There is no lawsuit. There was an investigation by the NY Attorney General which has recently been settled. We are all waiting for further details.

I would have added: Lynn and Nicholas: though a 6-years message is not valid any longer, you are welcomed to the forum and the members would appreciate your shearing ideas and your stories about MC ownership. The forum has being active since 2011 and gave MC owners a platform to getting together.

THERAPY

william 465, yes, $6.5 mil seems like "a lot" but per owner, (even if some don't emerge from the "woodwork") ............... there about 14 to 18,000 of us, according to whose count is used, the $6.5 comes to about $300 each (most likely less). that's about the average price for a dinner for 4 at a halfway decent restaurant in manhattan................maybe. TMC OWNERS NEED TO BE MADE FINANCIALLY WHOLE due to the fraud and scamming perpetrated by eichner from the initial lies told at the sales presentation to the exorbitant maintenance fees we're all currently subject to. that's what i'm expecting when all the dust of this prolonged case settles. this also includes reservation time lost by many owners, especially those from other states and foreign owners as well.

keep in touch.

chris

williamm465 wrote:

Six million sounds like a lot. Watch how many come out of the woodwork to try to get a few bucks.

yep, and perhaps good for the soul as well. by the way it's called bibliotherapy .........check it out.

I just noticed a missed call from a number in NY, NY. I did a reverse lookup and it said it came from Manhattan, NY and was at high risk for scam or fraud.. Makes me wonder if this is connected to TMC/settlement, as I never get solicitation calls from NY.

I was about to pay my annual charges to TMC when I looked up here the status of the NYAG suit and learned that it was settled and that the owners are compelled to sell and stay out of the timeshare business forever. Should I pay the charges now or wait? Can Eichner be trusted to transfer payments to the new owners? How long will it take for the AG to communicate with owners. I did complete their survey sometime in the past year. Thanks for info.

Thank you

omg, you certainly did the absolutely right thing by not sending a dime (obviously so much more than that) for your upcoming maintenance fee. i have lost any trust that i might have had for TMC/EICHNER AND CREW. many moons ago. i will ask for written and legal assurance that my maintenance fee, as exorbitant as it is, will entitle me to use my time at TMC, hopefully getting my desired (or close to it) reservation time. even at that, i will withhold payment until i see positive action concerning the settlement outcome for owners.

my guess at this time is that it's going to take a lot of time for settlements/conclusions to be made regarding owners' "fate" following this legal fiasco.

keep in touch.

chris

chrisv126 wrote:

omg, you certainly did the absolutely right thing by not sending a dime (obviously so much more than that) for your upcoming maintenance fee. i have lost any trust that i might have had for TMC/EICHNER AND CREW. many moons ago. i will ask for written and legal assurance that my maintenance fee, as exorbitant as it is, will entitle me to use my time at TMC, hopefully getting my desired (or close to it) reservation time. even at that, i will withhold payment until i see positive action concerning the settlement outcome for owners.

my guess at this time is that it's going to take a lot of time for settlements/conclusions to be made regarding owners' "fate" following this legal fiasco.

keep in touch.

chris

Thanks

Got my first phone call from the financial department. Stated I would be placed on the foreclosure list for failure to pay maintenance fees, my credit would be ruined, and they had never avoided giving me dates requested (because NOTHING was available) despite repeat calls. Just wish I had recorded it. All they left out was amazing... including the false statement that I could exchange through RCI. They sold me a quadrennial unit. Year 1 three days, year 2 no days, year 3 fours days including a weekend, and year 4 no days. Then the cycle repeats. While RCI rents this way they do not accept deposits that way. This timeshare has been a financial fiasco and the settlement is a wait and see for any relief. Thanks to all who posted and provided updates. I just needed to vent and let folks know their tactics haven't changed.

tiaa4, if TMC'S UNSCRUPULOUS TACTICS HAD CHANGED, my surprise reaction would have reached africa ! they're frauds, thieves and money grubbing, unconscionable creatures. any decency on their part would be overwhelming to all of us financially cheated owners. we deserve fair and total remuneration and retribution for our financial losses due to TMC ownership.........from the fraudulent sales presentation to the exorbitantly risen maintenance fees in addition to the lack of desirable reservation time.

keep in touch.

chris

tiaa4 wrote:

Got my first phone call from the financial department. Stated I would be placed on the foreclosure list for failure to pay maintenance fees, my credit would be ruined, and they had never avoided giving me dates requested (because NOTHING was available) despite repeat calls. Just wish I had recorded it. All they left out was amazing... including the false statement that I could exchange through RCI. They sold me a quadrennial unit. Year 1 three days, year 2 no days, year 3 fours days including a weekend, and year 4 no days. Then the cycle repeats. While RCI rents this way they do not accept deposits that way. This timeshare has been a financial fiasco and the settlement is a wait and see for any relief. Thanks to all who posted and provided updates. I just needed to vent and let folks know their tactics haven't changed.

Been following this forum closely since I first became "aware" of this scam. Don't shoot the messenger but look how gullible I was! I decided to sell my membership a few years ago...so when I stayed at the Club, I got on the elevator and went to the "Second Floor". When I got out of the elevator on the second floor, imagine my surprise as there was no longer a Sales Dept. The floor was now units! I went to the lobby and they directed me to the "sales office" on the first floor -- right next to the elevators. I went in to this tiny office with 3 employees who were putting together some decorations for some party/event in the Rooftop Atrium. Can you imagine the looks on their faces when I asked them about selling my unit!?! They must have had a good laugh when I left after they told me they were no longer purchasing units. Of course, they did not provide any other info. I literally wondered what was up, proceeded to my unit and found this Forum/thread!

So, now, hear we are...sorry to be a "Debbie Downer" but this settlement is largely political crap. My opinion (opinion only!!) is that the only potential good news is the sale to a new owner. Unfortunately' I do NOT believe we will get any financial restitution -- no refund for extra fees, lost reservations, etc., etc. What I believe will happen is some new owner will simply keep the same system, decide what the "new" maintenance fees will be, and you/I then will have the freedom to continue with your existing relationship, or have the freedom to sell. Perhaps they change the maintenance fee structure, but what will compel them to? Many people in this Forum have made it clear they are willing to pay these exorbitant fees "if only I can get my reservations as originally promised!?! The new owners will have no incentive to reduce the fees -- there will be plenty of folks willing to pay them!

Will the new owners buy back the units? I imagine -- sure (at a highly discounted rate)...just like essentially all of the other time share scamsters do. (Even Marriot does the same thing -- I have 2 Marriot Aruba units and decided to get rid of one. Marriot ultimately said they would be happy to take it back for...$0! On Redweek, I can sell for $2500-$3K. I originally paid over $20K per unit!)

When will any of this (TMC) happen? In my opinion, I would be surprised if anytime soon. In the meanwhile, we are all still stuck in limbo, with NO REAL INFO about what's happening. This November hearing will be "interesting" (if not postponed...LOL!) and provide some more info, but I do not think anything real definitive will happen until there is a new buyer.

Getting the picture? We were all duped and just need to accept it! Based on reading this forum, there is no class action suit forthcoming, the AG got rid of Eichner and we each could possibly get $300/owner, no restitution forthcoming, and we may at some point have the opportunity to give back the unit to a new time share company!!!

All I am interested in now is how soon can I give back my unit and then go take my $3000/year in maintenance fees and stay at TMC (whenever I want!!) by booking at Expedia or Hotels.com!

Needed to vent and remember, this is just my opinion...

Perry from New Jersey

Perry, it may only be your opinion, but I think you are almost 100 percent correct. I don't think any of us will receive one dollar.

perry aka angied70,

much of what you wrote is fact, some not; the next step is how we owners treat those FACTS.

it would take to much space to respond to all of your points so i'll address what i consider those most salient (and in my order of importance.)

you said GIVE in terms of our shares.....no, no, no..........we're referring to nyc real estate in which most of us TMC owners have DEEDS, ergo, the words "give away" our property to new owners should not leave our mouths if a new owner wants to maintain his/her newly purchased building as a timeshare, and we no longer wish to be TMC timeshare owners, i expect that they would have to buy us out AT EXISTING NYC REAL ESTATE PRICES (PROPORTIONED AS WEEKS IN TIMESHARE OWNERSHIP) i paid over $30,000 for one of my weeks 7-8 years ago. PROPERTY VALUES IN NYC ARE NOT STAGNANT...........THEY RISE EXPONENTIALLY. giving it away would make us look like imbeciles..........NOT.........as garth and wayne would say.

i think you get my gist, idea, modus operandi, meaning.....................i'm aiming for broke............it's a shot, and to quote lin miranda (hamilton), I AM NOT THROWING AWAY MY SHOT!!!!!! try, my fellow owner. we sure have nothing more to lose and possibly much to gain.

happy days; keep in touch.

chris

angied70 Been following this forum closely since I first became "aware" of this scam. Don't shoot the messenger but look how gullible I was! I decided to sell my membership a few years ago...so when I stayed at the Club, I got on the elevator and went to the "Second Floor". When I got out of the elevator on the second floor, imagine my surprise as there was no longer a Sales Dept. The floor was now units! I went to the lobby and they directed me to the "sales office" on the first floor -- right next to the elevators. I went in to this tiny office with 3 employees who were putting together some decorations for some party/event in the Rooftop Atrium. Can you imagine the looks on their faces when I asked them about selling my unit!?! They must have had a good laugh when I left after they told me they were no longer purchasing units. Of course, they did not provide any other info. I literally wondered what was up, proceeded to my unit and found this Forum/thread!

So, now, hear we are...sorry to be a "Debbie Downer" but this settlement is largely political crap. My opinion (opinion only!!) is that the only potential good news is the sale to a new owner. Unfortunately' I do NOT believe we will get any financial restitution -- no refund for extra fees, lost reservations, etc., etc. What I believe will happen is some new owner will simply keep the same system, decide what the "new" maintenance fees will be, and you/I then will have the freedom to continue with your existing relationship, or have the freedom to sell. Perhaps they change the maintenance fee structure, but what will compel them to? Many people in this Forum have made it clear they are willing to pay these exorbitant fees "if only I can get my reservations as originally promised!?! The new owners will have no incentive to reduce the fees -- there will be plenty of folks willing to pay them!

Will the new owners buy back the units? I imagine -- sure (at a highly discounted rate)...just like essentially all of the other time share scamsters do. (Even Marriot does the same thing -- I have 2 Marriot Aruba units and decided to get rid of one. Marriot ultimately said they would be happy to take it back for...$0! On Redweek, I can sell for $2500-$3K. I originally paid over $20K per unit!)

When will any of this (TMC) happen? In my opinion, I would be surprised if anytime soon. In the meanwhile, we are all still stuck in limbo, with NO REAL INFO about what's happening. This November hearing will be "interesting" (if not postponed...LOL!) and provide some more info, but I do not think anything real definitive will happen until there is a new buyer.

Getting the picture? We were all duped and just need to accept it! Based on reading this forum, there is no class action suit forthcoming, the AG got rid of Eichner and we each could possibly get $300/owner, no restitution forthcoming, and we may at some point have the opportunity to give back the unit to a new time share company!!!

All I am interested in now is how soon can I give back my unit and then go take my $3000/year in maintenance fees and stay at TMC (whenever I want!!) by booking at Expedia or Hotels.com!

Needed to vent and remember, this is just my opinion...

Perry from New Jersey