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Original Message:
Re: Manhattan Club (by Dennis C.):
The settlement between the NY State Attorney General and TMC/Eichner entities was UNFORTUNATELY mostly for the benefit of NY State (a little restitution for various licensing, registration, and business infractions PLUS forcing Eichner out of the timeshare business). Unfortunately the state did not take on the cause of the 14,000?owners who were or felt defrauded. Individual owners previously and Zimmerman now, have pursued their fraud-related cases in the court system. A few have and are currently succeeding in small claims court after years of valiant efforts, time, and some expenditures.
Some owners expected the AG to help Owners either get out of their contracts, or liquidate the TMC and return funds to owners or what have you. The AG apparently decided not to go that route, and was probably an unrealistic expectation. This type of legal action is typically left to class action legal processes which are fraught with its own set of problems. Years and years of accumulating Legal expenses being the primary problem.