Manhattan Club Lawsuit

Perhaps the 'new management' group is keeping the same employees?

I have no inside info but I would guess that the purchase of TMC would be pretty big news here, whenever it happens.

jimm857 wrote:

Perhaps the 'new management' group is keeping the same employees?

I believe that part of the settlement requires that senior management is replaced. Regardless it was just a interesting observation on my part. I do agree though with the comment that once Manhattan Club is actually sold it would be publicized.

It depends on how much you want out and whether you can afford to pay. I have been talking to Lynn O'Donnell for the last 3 years and didn't feel very hopeful about getting out soon. I hired attorneys and it was very pricey, a lot more than $1900 but the stress it was causing me made the fee worth paying. I love the city and staying at TMC. I have been going more than 20 years but found it was getting more difficult to go plus I retired and finances changed. Good luck with whatever you do but I couldn't wait any longer.

So Karen did you end up selling your timeshare?

kevin, publicity regarding the sale of TMC aside, it seems, more importantly, where we owners stand once it's sold. any guesses or conjecture yet? i still remain totally perplexed, puzzled and nonplussed.

chris

kevin631

jimm857 wrote:

Perhaps the 'new management' group is keeping the same employees?

I believe that part of the settlement requires that senior management is replaced. Regardless it was just a interesting observation on my part. I do agree though with the comment that once Manhattan Club is actually sold it would be publicized.[/Q

Susan, More appropriately - paid attorneys to get me out of my contract. Still in the middle of the deal but all I have to do is sign the papers and send them in. Then I have to pay the maintenance fee to TMC for it to be final which is why I still have it at the moment.

I tried to send note to alexcrystal22@gmail.cim and it was returned.

alexc100 wrote:

MC owners opened a lawsuite / class action in regards to the MC resrvations.

Everyone who is inerested to join the class action please contact me at alexcrystal22@gmail.com

You will be asked to fill out the Survey and send it or email the lawyer's office. It is urgent! Regards, Alex

chrisv126 kevin, publicity regarding the sale of TMC aside, it seems, more importantly, where we owners stand once it's sold. any guesses or conjecture yet? i still remain totally perplexed, puzzled and nonplussed.

chris

kevin631

jimm857 wrote:

Perhaps the 'new management' group is keeping the same employees?

I believe that part of the settlement requires that senior management is replaced. Regardless it was just a interesting observation on my part. I do agree though with the comment that once Manhattan Club is actually sold it would be publicized.[/Q[/Q]

No Chris I have no further information but I am very curious as we all are as to what will be occurring hopefully in the near future. I am still disappointed that there has not been a change in senior management as of yet and hopefully the process of actually selling the Manhattan club has begun.

this email address and person is from a posting from years ago... and was 'fake' and ruled by Redweek to have violated it's anti-solicitation policy. Not sure why/how you're getting 3-4year old information.

dianeb744 wrote:

I tried to send note to alexcrystal22@gmail.cim and it was returned.

alexc100 wrote:

MC owners opened a lawsuite / class action in regards to the MC resrvations.

Everyone who is inerested to join the class action please contact me at alexcrystal22@gmail.com

You will be asked to fill out the Survey and send it or email the lawyer's office. It is urgent! Regards, Alex

I would think that the owners of these timeshares should have the right to know what the settlement is. Eichner was the developer, but by some fluke (He kept his development stance open by continually buying units to convert. I know of no other state in which this can happen) he remained in control and never turned over the reins to the owners. The owners should be allowed to take over. Why wasn't this addressed? Or was it? What we need is new management and a BOD that consists of owners. Even the employees don't know what's going on!

hi laurah, your comments and questions echo those of many (most) of us owners. they all should be addressed to AND ANSWERED BY THE NEW YORK STATE ATTORNEY GENERAL, ERIC SCHNEIDERMAN. he seems to have obviously but quietly vanish from the entire LAWSUIT THAT HE BROUGHT AGAINST EICHNER AND TMC, leaving us owners with NO ANSWERS, ADVICE, COMMENTS, A "WHAT'S NEXT" FOLLOW-UP. NADA, NOTHING. PERHAPS HIS BOSS, GOVERNOR MARIO CUOMO, SHOULD STEP IN AND GIVE MR SCHNEDERMAN DIRECTION LEADING TO ANSWERING OF YOUR (AND ALL OTHER OWNERS') COMMENTS AND QUESTIONS.

CONTACT CUOMO, AND CC SCHNEIDERMAN.

keep in touch,

chris

chris

laurah136 wrote:

I would think that the owners of these timeshares should have the right to know what the settlement is. Eichner was the developer, but by some fluke (He kept his development stance open by continually buying units to convert. I know of no other state in which this can happen) he remained in control and never turned over the reins to the owners. The owners should be allowed to take over. Why wasn't this addressed? Or was it? What we need is new management and a BOD that consists of owners. Even the employees don't know what's going on!

I have been trying to contact Alex but it never goes thru. I owned and used a lawyer to get rid of but would like to join

I was called yesterday to post my 2018 maintenance fee, and for the first time I refused. I said I was waiting to see who the new management would be. Interestingly, I was told that would not happen for up to 3 years. This seems to imply that NYS attorney general settlement allows Eichner several years to affect the sale. So, waiting around for such changes and hoping for the best may not be suitable for those of us expecting major changes to management or the continuously increasing yearly fee. I have a penthouse and the fee is $3087 plus real estate tax of $480. So saving $3500/year for 3 years could mean a savings of close to $10,000 vs the $35,000 I paid for the timeshare. Even if new management were to ever come in, how much would my timeshare ever be worth? And if TMC goes bankrupt, what would each owner get if the rooms were sold back to a hotel? And I don't consider this "fake" timeshare with choose your own split days would ever work for all owners - the numbers just never would allow everyone to choose their desired dates. So maybe now I just bite the bullet and walk away.

I'm sure they won't allow Eichner to develop new timeshares so that he can stay in the game, so he should be handing the reins over to the owners. He probably would be one of them but he can't have more rights. If Corporate Law in NY is like Corporate Law in California, he has the duty to look out for minority owners.

lawrence 108,

unless we owners become proactive and notify gov cuomo that his attorney general eric schneiderman, left us in a pen (sort of like pigs) and vanished from the very lawsuit that he won, we will remain with only one word in our vocabulary........OINK.

KEEP IN TOUCH,

CHRIS

PS A LETTER WITH MANY OWNERS' SIGNATURES WOULD HELP

lawrencec108 wrote:

I was called yesterday to post my 2018 maintenance fee, and for the first time I refused. I said I was waiting to see who the new management would be. Interestingly, I was told that would not happen for up to 3 years. This seems to imply that NYS attorney general settlement allows Eichner several years to affect the sale. So, waiting around for such changes and hoping for the best may not be suitable for those of us expecting major changes to management or the continuously increasing yearly fee. I have a penthouse and the fee is $3087 plus real estate tax of $480. So saving $3500/year for 3 years could mean a savings of close to $10,000 vs the $35,000 I paid for the timeshare. Even if new management were to ever come in, how much would my timeshare ever be worth? And if TMC goes bankrupt, what would each owner get if the rooms were sold back to a hotel? And I don't consider this "fake" timeshare with choose your own split days would ever work for all owners - the numbers just never would allow everyone to choose their desired dates. So maybe now I just bite the bullet and walk away.

Please read the TMC settlement for your answers.....get informed. The following are several important points contained in the AG / TMC settlement: 1.) You must be and remain current with your maintenance fees or forfeit any obligation on the part of TMC or new management. 2.) The sale of TMC is to be completed within 3 years. All parts of the settlement are contingent upon any appeal or request for extension.

where can we see the actual terms of the settlement online?

chris

dennisr294 wrote:

Please read the TMC settlement for your answers.....get informed. The following are several important points contained in the AG / TMC settlement: 1.) You must be and remain current with your maintenance fees or forfeit any obligation on the part of TMC or new management. 2.) The sale of TMC is to be completed within 3 years. All parts of the settlement are contingent upon any appeal or request for extension.

I have said this a month or so ago, as well as warning folks that very soon TMC will go after the credit of those who are delinquent. I have been quiet recently because I was accused (by those who have all the answers) of being a stooge and a shill for TMC management. It is not a perfect world. sometimes bad things happen to good people. This may not work out the way we would like but be careful not to make things worse for yourselves.

You can read about the settlement terms under Ask Redweek, September 2017...an article written by Jeff Weir. I believe you can also find these details on the AG's website as it is public information.

chrisv126 wrote:

where can we see the actual terms of the settlement online?

chris

dennisr294 wrote:

Please read the TMC settlement for your answers.....get informed. The following are several important points contained in the AG / TMC settlement: 1.) You must be and remain current with your maintenance fees or forfeit any obligation on the part of TMC or new management. 2.) The sale of TMC is to be completed within 3 years. All parts of the settlement are contingent upon any appeal or request for extension.