bankruptcy

I see signs at this resort that the bank has taken over some of this property. Is this resort in bankruptcy?

Yes, I am a owner at french quarter resort. I was wondering if french quarter sales staff was still doing "updates" or still having sales at this locations. In my transfer request to transfer the french quarter, ,Curtisssa williams that there is not a recorded deed for ownership for the timeshare purchased in 2006 was never recorded at the Taney County Court house, even though forms that I received indicated that it was recored on a certain page and line number. So no transfer is available at french quarter, PERIOD.. just today, I received a phone call from one of those resale timeshare firms advised me today that Tom Williams,CEO of Southwind, Inc. that took over french quarter, has made it known that even if an individual could transfer out of French Quarter, there would be an additional $1,500 fee payable to Southwind Inc. I asked if this amount was "filtered down" to local "city fathers" the answer "of course" IFrench Quarter and Branson is developing a reputation for "watch out, don't trust anyone" It is a real uestion mark to me that other local business in Branson would let this type of operation continue and put a "blight" on any travel to branson. I doubt if any of this information is available in Branson. The resorts seem to be at capacity for the summer, so why would any local resort complain?? OH, the company would transfer out of french quarter for a modest fee of $4,900. So all of this negative action by tom Williams is puting money in the pockiets for any "resale firm."

We tried to trade in our FQ condo a few years ago, and it never went thru, as it is not possible to transfer your deed from FQ. We ended up owning two, but finally sold the other one, and kept FQ. What a mistake that may have been. We heard that FQ defaulted on completing several buildings that were being developed, and therefore is in default, hence the bankruptcy. Southwind Inc, is located in South Carolina and Florida, so they are out of the mind of Branson and Missouri regulations. It makes sense that a class action law suit may be needed against FQ and Southwind Inc. Anyone interested????

I have been in contact with a Tom from Colorado who would like to do just that, a class action lawsuit and give it plenty of publicity for the local Branson businesses, They depend on a number of travelers each year and if their business lose money, it could help the process of southwind taking some action this Tom went to the bankruptcy hearing in hilton head last december and I believe he has the names and address of the appr. 110 owners in fench quarter and would like to start some type of class action law suity.. tom was amazed that only two owner attended the hearing.

Just remember, when owners go class action against their management company, it's their own HOA paying for the defence lawyers. You're essentially suing yourself. As a result, MF's go up to cover the cost.

The original developer went bankrupt due to poor business decisions. Southwind, which is also managing the Spinniker property and Grand Regency at Thousand Hills in Branson, is just the management company hired by our own home owners assoc. They don't have a great deal to do with the bankruptcy and, can be fired or retained by our HOA.

For the most part the bankruptcy isn't affecting the day to day operations of the resort nor have I seen a spike in MF payments. To the contrary, the HOA is pulling back some so as not to put a lot of money into the common areas that are tied up in the bankruptcy hearing.

My frustration is that this is moving painfully slowly through the courts and our HOA isn't keeping owners up to date. There have been other timeshare developers go bankrupt but, if the HOA does it's job, owners won't see a disruption in services. So far, I'm not seeing a disruption in services at French Quarter resort.

Southwind has no incentive to transfer deeds from FQ to one of their other resorts and certainly not on a deed for deed basis. Espeically at a resort where things are up in the air with the original developer filing bankruptcy.

Right now it's best to sit this out and see what happens. In the end I believe the resort will go on with eiher Southwind or some other management company taking over the property. As far as any promised amenities which haven't been built, well, it says in the contract that things can change. Things changed. I doubt we'll ever see additional buildings or amenities for this resort unless another developer buys it and decides to expand and begin sales again. There are a couple that might do that. DRI and Bluegreen are two that might be interested in expanding their options in Branson.

i REALLY appreciate this update on FQ. I agreed, a class action suit or any lawsuit is not the way to follow up on this "fraudulent" arrangement. one of my quesiton, my purchase was in 2006, the WARRANTY DEED" indicates that that this deed was recorded in book 0485, page 89--- etseq in the land records of Taney Counry, Missouri, and all amendents thereto, if any" When the attempt was made to transfer this deed to another owner.; Tissa Williams advised that according to their legal Specialist Karen Geiger, this ownership cannot be sold due to no deeding recording for building no. 8. In other words, there isn't a recorded deed for this ownership. Because this is a deeding question, please refer all questions and inquires to Karen at kareng@spinnakerresorts.com or 843-785-3355, ext.5211 QUESTION: How is the Taney Counry courthouse able to help FQ carry on this farce??" and/or apparent scam?/

Maybe I've misunderstood an important point. Is there a problem with the developer not actually filing deeds with the county? If that's the case I would be contacting Tanny County with the appropriate paper work (purchase documents) and anything showing where that the title has been recorded.

If the deed has not been recorded but, the developer has given owners information that it has been recored, then there is the question of fraud. At that point a corse of action other than a law suit might be necessary such as contacting the state AG's office with complaints of fraud.

I had never considered that the developer would not have recorded the deed in my name. At the time of purchase we paid in full for our week and paid closing costs. To be honest, at this point I do not remember whether we recieved a deed from Tanny County. If we have not and, if I have paid closing costs and the developer has given me false information concerning the deed being filed, then the developer may end up with bigger problems than bankruptcy!

At any rate, Southwind, as far as I understand, is only the management company at this time. I don't believe that Southwind can be held accountable if they were not the company that was managing the sales team or responsible for the closings.

On the other hand, the last update we went to at FQ, the sales staff were showing and selling Palace View units, which is a Southwind managed and developed property.

Several years ago we purchased a Grand Regency at Thousand Hills week on the resale market. The closing was handled through GMAC and I know where the deed to that week is. Grand Regency is also managed by Southwind.

I believe, at this point, Southwind manages Palace View, Grand Regency at Thousand Hills and French Quarter Resort. It is my understanding that they are developing and selling Palace View Heights. It would be interesting to know the full extent of Southwinds involvement should there be an issue with some of FQ's owners not having deeds to their ownership despite being told and given recording information.

At any rate, I would encourage anyone who has a deeding issue to contact the state of MO, attorney general with specific complaints.

the previous comments on Tom Williams are correct. my purchase date was in july 2006. tom williams firm took over around Jan 1, 2007. So tom williams will say that his firm had nothing to do what took place prior to this date. If that is the case, When I attempted to cancel my ownership with french quarter in June ,2010. I still have the letter from tom williams , ceo of southwind mgt. Corp. that if I was planning on my attempet to cancel my french quarter contract. Southwind would have no option other than to PROCEED WITH LEGAL ACTION AGAINST ME. Mr. Williams went on to point out that his firm has no part in the "scam sales transaction" in order to convince me to purchase a unit at french quarter.l This tissa willliams, the legal specialistl, I wonder if tom williams has his own family in the mgt. area in order to keep a lid on any cancellation requests. . Yes, I will visit taney county court house and question why according to my warranty deed with fQ, where is it recoreded in your deed book??. I still say more than one individual is on on this "scam"

The value of our week or weeks are a concern. Already Southwind is not allowing any cancellations or transfers. If they or any new management company starts to let down on the upkeep and customer service at the property, or does not allow any upgrades, MFs go up and monies are not being utilized properly, or RCI picks up on the legal issues of the property and therefore lowers the trading power, then it can make our weeks worthless. The trading power for a one bedroom at FQ with RCI is the lowest I have ever seen. Whom will want to trade at FQ ? I have seen service diminish over the years during my ownership at FQ, since 2001. I hope the HOA board of directors are pushing the buttons with Southwind to ensure operations are the best possible.

RCI routinely adjusts the trading power of resorts based on demand. Branson is an over developed location with the exception of summer months. Personally, I'd rather see FQ utilizing I.I. than RCI.

We also own at Grand Regency at Thousand Hills, which is also managed by Southwind. The difference is GR exchanges through Interval. We are still getting great value out of the one bedroom we own at GR. Last year we pulled a 2 bedroom at the Ridge Tahoe in July and next year we've exchanged for a 2 bedroom June week at Grand Timber in Breckenridge, CO. IMO, those are pretty decent exchanges. I doubt I could do the same with our 2 bedroom loft at FQ utilizing RCI as an exchange company.

I have been so disapointed in RCI that we've allowed our personal membership to lapse. Fortunately, FQ is a resort that we like and can use. If I wanted to exchange FQ, I'd use one of the smaller independant exchange companies before I'd use RCI.

There could be an issue for Southwind if you're talking about transfering your ownership at FQ to one of other resorts Southwind owns. It could be that due to the bankruptcy, they're not allowed to sell any FQ units they take in exchange (I'm assuming transfer means moving ownership to a different resort). It could also be they just don't see a market to resale the units at FQ and feel it's better to attempt to sell only one resort vs several.

So far, I've been reasonably happy with Southwind as a management company vs the original developer. I can pay my MF's online, I've had no issues with reservations and the quality of the rooms and amenities was fine the last time we were at FQ. I dont' blame them or the HOA for not making improvements until the bankruptcy is settled and will be happy so long as the resort is maintained. So far, it appears that they are maintaining the resort. They just might not be improving it at this time.

THE FOllowing information may be considered the type that is found at most any "coffee round table" so, let's just put some names on all of the "merry go round" at branson. Shelly L. Land, in Jefferson City, , Jodi Lehman, Consumer Complaint Investigator, in jeff city. supposely "closed the book on the problme at french quarter. in Springfield there is Tany County Procsecuting office Investigarot Neil, P.D. Investigator Shawn Barnwell, and FBI agent, Mitch King Ron Carrier, Assist, Attorney General, ind addition, there is Investigator Shawn barnwell, supposely does not have an interest in visitng with any of the apprx. 1,200 french quarter victims. about the same message applies with Brian Tailors ONLY ONE prosecuting Attorney has been cooperateive and this is Jeff Merrell, and his assistant. Suggest to VOTE for Jefff Merrell who have been researching the french quarter problem. believe about the only solution is to have someone contract channel 4, and ask for the "problem solvers" team. some one would have to have names and facts for TV staton to contact in order to recieve their side of the story. anyway, locally, it appears that most of those in charge ingore the problem so someone out side this area has to bring up this mess to the public. it appears that this will continue to go on, and on.

THE Information that I have received from a fromer investigator is the comtacting the attorney generals is a waste of time. The attitude of Jodi LOehman, consumer complaints investigator, Shelly L. Land,Director of Consumer Services Investigations, also, J. ?Ron Carrier, Assistant AG, atitude that this is a Civil Matter, that they have "closed their books on". also, there may not be any assistance from taney County Procecuting office, Investigator Neil, Branson P. D. , Investigator Shawn Barnwell, FBI Agent, Mitch KIng. Jeff Merrell has someone who has been checking information under the Interstate Sales Act, (a federal law), that when a person purchased a pre-contruction timeshare where the building had not completed within a two year period, is entitled to a FULL REFUND of their monies.

Doug and Robert, maybe the 3 of us should meet and put our heads together on this. Would we accomplish anything of value for each of us?? I am in the Kansas City area. I like the idea of contacting the local news station, problem solvers team.

Any thoughts??

This is a responce on the BBB website that, IMO, says it all. The responce is a complaint filed due to never receiving a deed.

"Southwind ManagementCorp ("SMC") is the Managing AGent for the French Quarter Condominium II Owners Association, Inc. ("Association"). French Quarter Group, LLC ("Developer), the orignial Developer of the Resort has filed Chapter 7 bankruptcy. There is a purchase money mortgage on this property that must be paid and satisfied. This is being handled through the Bankruptcy Trustee and Bankruptcy Court. Our hope is that after it is resolved and a Satisfaction/Release filed, owners will receive their Deeds. The Developer is no longer involved in the Resort."

At this point, since the original developer has filed bankruptcy and since it's the orignal developer who is on the contract, nothing will happen until after the bankruptcy has been settled. Southwind is ONLY the managing company higher by our homeowners assoc. to run the resort after the original developer, who was also managing the resort, went out of business.

IMHO, while not perfect, we are in better management hands with Southwind than we were with French Quarter LLC. The problem is, Southwind can't do anything for French Quarter owners as they are not the ones who are on the contract. Since the French Quarter LLC is now bankrupt, legal remedy to the situation is restrict by bankruptcy laws.

I believe the best we can do is to hang on until the bankruptcy filing is settled. Only then will owners know their legal standing. The other option is to retain and atrorny to represent owners interest in the bankruptcy hearing. For me, the cost would outweigh any potential benefit.

We might not like it but, since the original developer filed bankruptcy there is little to nothing to do but wait.

Southwind is not the bad guy in this picture. Since our resort developer has left us high and dry, they have little option but to await the outcome of the bankruptcy filing.

The questions I have are: how long will the bankruptcy go on until settled and why doesn't our HOA keep owners informed?

The worst case scenario is the resort is disolved and owners lose any interest they have in the property. I'm pretty certain we would be considered unsecured creditors. The resort could be liquidated with the owners receiving some of the proceeds but, my bet is the outstanding debts would be enough that owners would receive nothing.

Another option is a different management company could come in and buy the resort out of bankruptcy. They would then have the rights to sell any unsold inventory and develope any additional building/units and sell them. I don't see that happening since FQ was largely sold out and there would be no profit in it.

The most likely option is the bankruptcy is settled, the HOA selects a management company and life goes on. With luck owners will get deeds once the bankruptcy is settled.

To be honest, I know where my contracts are but, I don't recall if we ever recieved a deed to our unit. In the end, it doesn't matter to us as we plan to continue to use our ownership. It would become an issue only if we wanted to sell our unit as we couldn't get clear title thanks to French Quarter LLC going bankrupt.

It's not Southwind that's doing this to owners. It's the fact French Quarter LLC didn't honor it's obligations and has not filed for bankruptcy protection. Until we come out on the other side of the bankruptcy, we have little to no option but to wait.

I disagree with the notion that Southwind Mgt. Corp has nothing to do with this "mess". in June 2010, I paid Timeshare Advocacy Int., Mount Juliet, TN $2,000 to use their method of writing revocaton letters as to cancel my timeshare with french Quarter. I even made a phone call to tom Williams in hilton head, S. C. regarding my request. Mr. Williams replied: "that the present staff had no part or assisted in my timeshare purchase in 2006 . therefore if I continued in my request for cancellation of the French Quarter timeshare, Southwind mgt. corp would consider legal action against me." I still have his letter in my file dated in June 2010 . The results from Tenn . Attorney General only sent copies of Timeshare advocacy indicating that the whole matter was my fault. IN reviewing the matter with Commerce Bank Visa management. it was discovered that timeshare adovcacy did not even have a signed contract for cancellation of a timeshare. I appreciate Commerce Bank Visa in accepting this fact and reversed the $2,000 . bottom line, tom williams is aware of all of the financial transactions and now, since his firm filed bankruptcy for french quarter, and a Williams in branson does the correspodence, Mr. williams is quite aware and is responsbile for this mess since his take over in Jan. 2007. and he Writes" That if I were to continue in my requst for cancellation of French Quarter timeshare, Southwind Mgt. would consider Legal Action against ME>

C

sitting this out is exactly what southwind and all of the attorney general, and personnel at taney county courthouse would like, I am only aware of one individual that would like some quesitons answered

Hi i am smithhealt..

If the owner closed down or just lose their timeshare.. If this is the case that people who make payments after would own nothing.. or continue making payments to some banks without the use of the resort? I heard that the bank bought the station unit owners so they could sell the land...

OK, so those who want to start a class action, who are you going to suit? French Quarter LLC is bankrupt. Let me know how that's going to work out. Southwind is only the management company and is under no obligation to do anything other than manage the resort. They didn't create this mess. French Quarter LLC is responsible but, they're bankrupt. Southwind can't be found liable for something they did not do. So, who are you going to suit and what do you expect the outcome to be?

Sure it's fine to be ticked off but, let's get real. If we go class action we're going to suit our home resort and guess who the owners of the home resort are? If you guess you and me, then you're correct. You'll pay to be both the plantiff and the defendant. That's like wrestling with yourself and then declaring yourself both the winner and the loser.

This is not the first bankruptcy of a timeshare developer. Most of the time, the developer goes under and the HOA seeks a new management company. The process is complicated with the HOA is run by the former developer rather than the owners.

Now, let me ask you, who did you vote for in the last HOA/BOD election? If you didn't vote, kick yourself. Only by taking an interest in who's on the HOA/BOD and voting can you affect any change. Control the HOA/BOD and you control the resort. It's the ONLY way. Litigation is doomed to failure before you begin.

It is very difficult to disolve a timeshare project. It often takes a super majority of the owners to do so and that rarely happens. Most of the time the management contract is purchased out of bankruptcy as an asset. Southwind appears to be the leading contender to do so. If you don't like Southwind as your management company, then either run for a seat on the HOA or vote for someone not connected with Southwind to run for the HOA. What you don't want to do is either throw away your proxy or just sign it and send it back in. Make you vote COUNT!

Other examples of bankruptcy filings would be Mystic Dunes in Orland, ILX resors and most recently Pacific Monarch. Al of which were aquired by Diamond Resorts International. Epic resorts was aquired by Sunterra and then when Sunterra filed bankrupty, it was aquired by DRI. Currently Tahiti Village in Las Vegas has had their developer file for bankruptcy. This is not uncharted territory.

What is of concern is that land underneath some of the buildings was used as colateral. How that's going to affect the resort I do not know.

Last month when we were in Branson, we noticed the old Copper Tree Hotel that use to be part of French Quarter had been raised. I'm dissapointed that our HOA has made no mention of this and I find nothing informing owners this was about to happen. Our HOA/BOD is letting the owners down and they're keeping us in the dark. I would encourage everyone that has any concerns to begin to pressure the HOA/BOD members for information. At least let them know you intend to vote in the next election and that they're seat on the board might not be secure.

We will be in Branson over Thanksgiving weekend. Whom do we talk with about the HOA/Board ? I can't recall the last time I received communication from the HOA Board. Whom is on the HOA Board?? I'm ready to pressure and try to change things. Don't know where to start...