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Manhattan Club Lawsuit outcomes include sale to a third party (by Chris V.):

jeff, read my post dated august 22, 2015. some creative thinking can lead to more favorable results re: COMMUNICATION, a component that is clearly missing in owners' "quest"........not referring to don quixote's windmill.....more owners must know that other legitimate, complaints are being made made by shareowners (in the redweek.com manhattan club forum) against the MANHATTAN CLUb . we need to get more owners involved in our battle with eichner, eg, from other forums such as the yahoo.com owners' forum. as noted in my latest post here, owners' groups are splintered; we therefore cannot develop and present a united front against our enemy, ian bruce eichner. again, from my post, i believe more owners within traveling distance of nyc would have attended our aug 2 meeting had they known about it: COMMUNICATION WAS/IS MISSING. i will consider requesting a complete list of TMC owners from eichner. i suspect that he'll have a reason for giving me negative reply to my request; WHERE DO I GO FROM THERE?

keep in touch,

chris

jeff_reports wrote:

One of the possible outcomes of the AG's investigation is that, as part of a settlement agreement with the AG, a NY state court order or a federal bankruptcy ruling, that the Manhattan Club will be sold to a third party (e.g., Marriott, Hilton, etc.). This kind of sale would be contingent on the fair market value of the property per square foot. During our Aug. 2 meeting with owners in Manhattan, attorney Douglas Wasser estimated that the property would sell for an extremely large amount based upon comps in the area. However, that begs the obvious question: what would happen to owners in the event of a sale or a bankruptcy? We will post the answer when and IF the attorney general's office is willing to address it. So far, the AG's office does not want to discuss anything. This is an understandable legal position because it protects their tactical options in this probe. But it does nothing to help owners who appear to be the ONLY real victims of the Manhattan Club's alleged misbehavior. New York residents who are also timeshare owners deserve more from AG Schneiderman than his weekly tweets about whatever he is doing. This week? Bead-dumping in local waters. Check it out. AG Eric T. Schneiderman likes to use the media when it suits his interests, just like TMC developer Ian Bruce Eichner. When it does not, they are silent.

RedWeek.com hosted an owner-meeting in Manhattan Aug. 2 with TimeSharing Today and NTOA precisely because the principals have deliberately refused to communicate with owners about what is happening --- and, more importantly, what they can do to control their own destiny in this case. You all deserve better communication from the AG and TMC, since you are their customers. In the absence of that, Manhattan Club owners could/should request a complete list of club owners from the board, so they can at least communicate amongst themselves.