Manhattan Club Lawsuit

I too am extremely interested in selling my unit back to TMC and getting rid of my ridiculous maintenance fees ASAP.

In my opinion, you are about 95 persent correct. I don't think we will see one dollar of the 6 million. I hope that all who want to get out of their contracts can. Not paying your maintenance fees is dangerous if you value your credit rating.

Hi folks. I haven't paid my maintenance fees the last couple years and my credit rating is still 805. I wouldn't give them one more cent and hope that somehow, someway, we will get justice. I'm not deluding myself to think I'll get much money, but I just want out of my contract so I can walk away and forget this ever happened. If I want to step foot in TMC, I'll rent it cheap on any number of websites out there. I don't need to "own" it! Patti

So far I don't think anyone has mentioned their credit rating being affected by not paying TMC fees. If anyone's does get hit, please let us know.

Seems like a desperate threat to try to get the fees to pay the legal bills.

About the settlement, I also would not hold out much hope that we will be able to sell back the units (especially at anything close to fair market value). Probably just have to give them back, which is ridiculous of course but I just don't see anyone fighting much on the owner's behalf.

"Here's your $300 settlement for your thousands of dollars of fraudulent fees. Good luck."

It appears wrong for RCI to allow MC to block my points if we do not pay MC. Suggestions or experiences?

They are blocking my RCI points if we do not pay MC What to do ??

Doesn't RCI do this to all owners who try to deposit their time in a resort without having paid maintenance fees....TMC folks not being treated differently...

I believe they do but based on the attorney general findings etc , it would seem that RCI would not allow MC to block our points. It appears that they will block my points even after we explained situation. Based on the attorney general findings I believe that many lawyers would advise NOT to pay fees until further notice on restitution?

TO ALL VICTIMIZED, DEFRAUDED, LIED-TO, SCAMMED TMC OWNERS: THE FOLLOWING REFLECT ONLY MY """"""OPINION"""""""

1. NO EFFECT ON CREDIT RATING FOR NON-PMT OF MAINTENANCE. POSSIBLE EFFECT IF NYC/NYS TAX NOT PAID.

2. DEFINITE NEGATIVE EFFECT ON CREDIT RATING FOR NON-PMT OF MORTGAGE IF YOU HAVE ONE.

3. A PROPOSAL FOR THE UNKNOWN SETTLEMENT AT THE CONCLUSION OF THE SUIT: NYSAG VS TME/EICHNER: LET'S BE READY FOR THE WORST........A CRAPPY PITTANCE AS A FINANCIAL SETTLEMENT. I'M SEEKING TO BE MADE FINANCIALLY WHOLE AGAIN AFTER LIES AT A SALES PRESENTATION AND PURCHASE, EXPONENTIALLY EXORBITANT RAISES IN MAINTENANCE FEES, LACK OF RESERVATION TIME AND OTHER CANINE AND PORCINE TREATMENT BY EICHNER AS PRINCIPAL OF TMC, A NOW-LOST PART OF HIS EMPIRE.

HERE GOES: WE NEED TO DEVELOP A UNITED FRONT NOW, WITH A STRATEGY AS A COUNTERPROPOSAL TO A POSSIBLY SHABBY SETTLEMENT BY AN ARBITER OR REFEREE (WHATEVER THE PERSON MAKING THE SETTLEMENT IS CALLED,) THIS COULD BE IN THE FORM OF A CLASS ACTION COUNTERPROPOSAL. WHATEVER IT IS, WE NEED OWNERS' IDEAS TO FORM UNITY OF A PRESENTATION IF THAT BECOMES NECESSARY.

I HOPE TO HEAR FROM ANY AND ALL WHO READS THIS MESSAGE. WE NEED PROACTIVITY THAT IS EVIDENT TO THOSE WHO DECIDE OUR FINANCIAL WHOLENESS AFTER EICHNER'S MAKING SUCH MESS OF OUR FINANCES RE TMC. WE NEED CREATIVE IDEAS TO HAVE READY IF WE NEED THEM AFTER HEARING OF THE QUALITY OF THE SETTLEMENT WE'RE ANTICIPATING. LET'S HEAR FROM YOU FELLOW DEFRAUDED TMC OWNERS.

ONE LAST OPINION: UNLESS YOU'RE TOTALLY DOWN IN YOUR FINANCIAL AFFAIRS, I CONSIDER IT AN ABSOLUTE "NO-NO" TO GIVE AWAY YOUR MC TIMESHARE. THIS IS NYC PROPERTY, ALBEIT MEASURED IN WEEKS, THAT HAS FORMIDABLE FINANCIAL VALUE. PLEASE THINK TWICE ABOUT GIVING IT AWAY. DO NOTHING UNTIL YOU HEAR WHAT THE SETTLEMENT WILL BE.

there's strength in UNITY.

UNITED WE STAND, AND JUSTICE FOR ALL (OWNERS!!!)

chris

Hey Chris, yes lets unite. How about we brainstorm on go to meeting.com and get as many owners to listen and participate. They called me yesterday and want over 2,300 now. I own in full no mortgage.When I asked them if they were given instructions by attorney general office on collecting fees, telling credit companies if we decide not to pay based on attorney general action, they said no and we must pay or five hundred penalty. Plus they will tell RCI to block my points. Pissing me off now, and ready to participate.

Hello, I too have been paid in full since I purchased in 1997 and all exhorbitant maintenance fees paid in spite of my inability to use the property on several occasions whereby I had to go to other RCI properties (fly my family, not nearly as nice as the Manhattan Club, pay transfer fees etc. and so on). I would like to please be included in any and all discussions, but my ask is that we get the maintenance costs down whereby a week is less than the cost of a hotel room in NY at any given time. I also have an original half share flex week that I paid $9000 for, so if someone is willing to pay what I paid, it is yours. May be the only value remaining at TMC if you take away the ridiculous maintenance costs. I have been able to use it when a few years ago I stopped going through reservations and began asking for the Manager (whose name I can't remember) and asking very forcefully for dates I wanted and he made it happen. Thank you. Marjorie Polk

HI, I feel if we can all unite we can possibly get our money back. If we do this alone we will fail. There is power in numbers. Marie

The installation of new ownership is an opportunity for improvement. My concern is that we, as owners, do not yet have a "seat at the table"... interested to know others' views on the practicality and desirability of establishing a "shadow board", elected by owners, to coordinate with the powers that be in our transition to new ownership.

... welcome thoughts from Board contributors.

Thank you, Tim

hi jeff (weir): please read my last redweek.com message and that of mitchb10..............RE: POSITIONING OWNERS TO PRESENT A UNITED FRONT (IF NECESSARY ) IN RESPONSE TO AN UNSATISFACTORY SETTLEMENT AFTER THE AG VS TMC/EICHNER LAWSUIT CONCLUSION.

we can use some creative ideas which you seem to have a knack for producing. if there is such a thing as a counterproposal to an unattractive financial and other related settlement proposals? my concern here is due to current and rising maintenance fees, lack of owners' reservation availability, et al. we need to know how best to proceed. of course, an obvious idea would be by working with an attorney which would carry a financial requirement. if that became the scenario, what would be the best way to get this idea up and running?

just a suggestion: perhaps you and greg crist could arrange another meeting of TMC owners in nyc in the near future. there, owners could meet face-to-face to discuss a united strategy.

i realize all of this may be jumping the gun. on the other hand my pessimistic self prevents me from thinking that owners will be offered a financially sound and fair settlement, and i think we should be prepared for the worst rather than start scrambling for ways to combat a poor situation after the fact.

we all hope to soon see what your ideas are. we can use all the help we can get.

thanks keep in touch.

chris

Perhaps someone can enlighten me on something I'm not clear about. What is our board's role in this situation? Do they not have any fiduciary responsibility, or is their role completely separate? Why aren't they serving in an advocacy role?

I still maintain that we need to appeal to 60 minutes to do an expose.

Agree! Can we arrange a web meeting some evening?

Chris, happy to speak with you. Contact me at 310-801-3479 or jeff@redweek.com

I am having a Lawyer review the Assurance of Discontinuance from the AG’s office on behave of my father who has 2 units. I have read the agreement myself and see no way to get out of the contract. Maybe some small $ amount of compensation for unused nights between 2011 and 2014. If I hear different I will post here.

I to would be interested in joining an owners meeting, in NYC or online, to determine options.

Chris

Where will all that money come from???

marieg2 wrote:

HI, I feel if we can all unite we can possibly get our money back. If we do this alone we will fail. There is power in numbers. Marie