Manhattan Club Lawsuit

jeff, if the current situation continues: A WAIT LIST TO ATTEND THE MC TIMESHARE ANNUAL MEETING, this becomes , i assume, a legal issue. the board of directors does not have the authority to bar legitimate shareowners access to this meeting. the venue needs to be changed to accommodate the number of shareowners wishing to get reservation letters to attend the meeting. there should be no waiting for another shareowner to cancel his/her reservation and then those on their froggy wait list to get access from this infamous list. THIS HAS NOTHING TO DO WITH GETTING AN ACCOMMODATION RESERVATION WHERE THE WAIT LIST IS USED EXTENSIVELY. it is a matter of illegally preventing shareowners access to their meeting for the specific time and date: 9am edt, on august 4, 2015.

this matter must be brought to the attention of the NEW YORK STATE ATTORNEY GENERAL IMMEDIATELY, AND BY ALL WHO WISH TO GET RESERVATIONS FOR THE MEETING.

chris

I have two tickets to the Aug. 4 meeting that I am unable to use. Should I turn them back in, or maybe better, mail them to someone in this forum who wishes to go. If I give them back to TMC, there is no guarantee they will be redistributed. Patty

I HAVE A FEELING THE MC WILL BE CHECKING FOR ID WHEN IN ATTENDANCE.

thank you, Redweek, for getting totally involved in keeping Manhattan Club members informed and up-to-date. We look forward to following the live stream of the meeting here in California.

I'm not an attorney but am well-schooled in Board governance issues. A Board of Directors, its Executive Committee, or its officers have no legal right to bar the attendance of any shareholder to the Annual Meeting. And, stacking the slate with candidates sympathetic to the owners is highly suspect if not illegal in this context. The concerns of the owners, especially any who are turned away should be communicated in writing to the Attorney General with copies to all pertinent and interested bodies and media outlets. James687

My husband is an attorney and he agrees completely with James687.barbarad439

I have been following this forum for months, and I became an "owner" many years ago by purchasing a resale through the Redweek classifieds.

I know this post is premature, but I want to put a stake in the ground before the August meetings that I cannot attend (I live in Seattle).

I am no attorney, but I did read the agreements before signing, and the thing that concerned me most was the right of the developer to control the Board.

I was so concerned that I asked to talk to someone about this, and whoever I talked to ( I think it was a salesman) assured me that the developer would control the Board until a sufficient number of timeshares were sold, and then the developer would have to turn over control.

Obviously, he lied to me.

However, my reason for writing this note has more to do with what I expect will happen, and what I would like to see as a settlement. I believe that the Attorney General would be able to win a significant settlement in court, although I think it would be hard to prove a criminal conspiracy case involving the owners because I think they've had legal advisers guiding them from the beginning.

I also think this will be settled out of court. If I have this right, the sellers will want this settled, and the Attorney General will see a political benefit getting a good solution quickly. Of course this is all speculation on my part -- I have no facts, only theory.

In any event, what I would like to see in a settlement is the following:

1.The timeshare owners have the right to "put" their share back to the sellers at the price they paid plus transfer costs for a period of 3 years.

2.The control of the Board transfers to a Timeshare Owner Association, and the entire operation, especially the management contract, be subject to the TOA oversight.

3.The rent charged by the property owner (the same as the developer) be locked in for 7 years, and then the rent charged be indexed to a group of "similar properties" in Manhattan.

I've read the posts on this sight highlighting what in my opinion is criminal behavior, and I truly hope I've underestimated the Attorney General's leverage, but I am more interested in what happens in the future.

craigr32, hi, chris here

"I was so concerned that I asked to talk to someone about this, and whoever I talked to ( I think it was a salesman) assured me that the developer would control the Board until a sufficient number of timeshares were sold, and then the developer would have to turn over control.

Obviously, he lied to me." (your quote)

there's no question that ALL PURCHASERS were lied to by the eichner-trained sales personnel and other MC staff, under even more circumstances than your quote notes.

if this/these lie/lies is/are fact, then there is criminal intent; but that's not the main issue here. your expectations of the outcome of this lawsuit initiated by the NYSAG are, i believe, similar to mine. i expect to keep my 2 weeks' ownership with less-than-exorbitant maintenance fees, be remunerated for any overage of these maintenance fees paid over the years, and make the reservations process more realistic giving shareowners more flexibility in getting desired or near-desired reservation dates (the infamous wait-list being used as a last resort.) i would also want to have the alternative of selling back my shares to eichner at the reasonable market value of similar nationwide average properties prices.

so, we may not be on the "same page" on all issues or expectations, but at least we're in the same chapter of this ongoing "literary endeavor."

again, quoting you, "I've read the posts on this sight (sic) highlighting what in my opinion is criminal behavior, and I truly hope I've underestimated the Attorney General's leverage, but I am more interested in what happens in the future." our sentiments and expectations match rather closely here.

keep in touch.

chris

I also am not able to attend the August meeting. However, it doesn't look like I would be able to get into the meeting even if I could. Their tactic of keeping owners out of this crucial meeting is yet just another demonstration the MC doesn't care about their owners.

I've been an owner since 2001 and have dutifully paid my ascending maintenance dues every year. However, I finally decided to take a stand this year and not pay until their annual maintenance extortion scheme is addressed by the NYSAG. I recently received a call from MC's Finance Dept reminding me my credit would be damaged if I didn't pay. I told them to I'll wait until the NYSAG case is settled.

Please add me to the list of angry owners to petition this criminal organization.

Jim Tam jimtam67@gmail.com

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=H1PIkx1yIC8W4s0MxO5dUg==&system=prod

Cross motion as of the 2 July 2015, may be interesting to your Owner meeting

From the referenced motion it does appear that Mssrs. Schneiderman and Farooq are also growing tired of Eichner's games.

I am so disgusted with some of the human race. They have no dignity, compassion or caring for their fellow man. I have two tickets to attend the owners meeting but am not sure if I will be able to attend. If anyone wants to use these tickets let me know. We all need to be strong and hope the AG does the right thing for the owners who have been misled to say the least.

I haven't checked in a while and am a bit confused. I am an owner but got no notice of the owner meeting. What did everyone receive? I also wrote a letter of complaint to the AG's office on February 24, 2015, which was received and acknowledged, but have not received a survey. What is the survey about? Thanks.

Hi Christinea,

I would like to have your two tickets to attend the meeting.

Irene Smalls

Hi Irene; I received two tickets, letters to attend the meeting August 4 in NY. I am afraid that they will be asking for ID's. The letters are personalize with the member's name.

what the hell is happening here?: there's an important MC meeting coming up on aug 4, 2015. some of us got entry authorization letters, others not. this "invitation" to attend OUR MEETING must, by law, be extended to all shareowners in good standing, not just a token few of us. this meeting venue must accommodate all owners who desire to attend. if the current planned venue is too small, it must be changed to one that will make the meeting available to all who want to attend. these inconsistencies are a trademark of the scheming and fraudulent operations that we shareowners are and have been victims of. let's all inform the NYSAG of this blatant illegal barring of many shareowners from attending this MANHATTAN CLUB ANNUAL MEETING, AUGUST 4, 2015. could it be that those running this meeting would prefer as few irate shareowners from attending? this appears to be a very viable possibility that needs correcting IMMEDIATELY.

KEEP IN TOUCH,

CHRIS

I received my proxy ballot via email today. Is there any guidance from this forum on how we should vote to protect our interests? Or are all five of these people hand-picked by Eichner? I don't recall ever seeing a call for nominations. How did these names get put on the ballot? I would appreciate guidance on how to vote. Thanks, Patty

Hi!

Didn't want to leave you hanging... The AG's office sent EMAILS for the survey based on whatever EMAIL TMC had on file for you. I have a friend who doesn't use the computer do she didn't receive 1. Notification of the survey and 2. Notification for the Timeshare Board Meeting/Elections (election of Owner Timeshare Board Meetings are fixed so that doesn't matter). Since the AG's survey was sent by using "Survey Monkey," a service that all NYS agencies use for surveys (My spouse works in IT at the State so I know this for sure), COPIES CANNOT BE MADE. However, if ANYONE HAS NOT FILLED OUT THEIR SURVEY IT CAN BE FORWARDED VIA EMAIL.

After it's filled out, it cannot be forwarded and if you don't have an email with TMC, you won't get any information.

Any questions, let me know.

All AG and TMC information and survey go to owners' last known email address.

Nothing is sent in the mail.

Because NYS hires "Survey Monkey" for any and all agencies, copies cannot be made for those who did not receive the survey.

Any questions, let me know!

Corinne

Sorry All for double post!