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Re: Manhattan Club Lawsuit (by Dennis D.):

Try to hang on to your timeshare. Try renting it out to pay your annual fee. We don't know how the court will decide, but it seems very possible we could benefit, perhaps in reduced annual fees. If the fees are lowered, these timeshares could regain some of their value. The court could also decide that everyone has to pay up past dues to make all things equal before a restructuring could take place. If you want to lose the property to get out from under the fee, you would not be alone. Many others have taken a pittance averaging $200. Then the shares were sold for up to $50,000. Right now, nothing is being sold. Everything was recorded at the meeting. I can't tell you where it is.

davidp1102 wrote:

dennis, Many of us were unable to attend the meeting. Was anything documented or recorded? Many have been asking, but very little, viable, info has been provided. TMC is reported to have 14,000 member, at $2,600+ per member, per year. You do the math. If not paying would not accomplish much, then TMC has proven they have diminished the value of the owners. That means, no point in owning a timeshare at TMC. Fees have reached a level that have become unaffordable to myself and certainly unreasonable. If TMC thinks that threats of interest and penalties, after what they have done, is a way to scare owners into paying, then I will be happy to see them in court myself. Many are not worried about the developers, they are worried about the loss of investment, the high fees that continue to climb and the preservation of self finances. That is how I am protecting myself, by keeping my money.

dennisd273 wrote:

Apparently you didn't attend the August 2nd meeting. Not paying and not using doesn't accomplish much. They rent the rooms out online anyway. You aren't doing much to hurt the owners and are possibly doing something to hurt yourself. Read some of the comments from those who were there. You might be liable for interest and penalties on the money you haven't paid. So much of this depends on the AG decision. Worry less about how you can hurt the developers and more about how to protect yourself.