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Re: Manhattan Club Lawsuit (by Iris S.):

Very helpful - thank you!

geraldc102 wrote:

Brief summary of our situation. We have owned 2 penthouse weeks for many years that for personal reasons we do not need. Cannot sell or return them pending AG issue. We do not like the Registry exchange plan (not worth it). No real advice from lawyers but session in NYC sponsored by Redweek was helpful as it appears that the MC cannot at this time 'do much' to hurt you right now if you do not pay. Because we are in 'limbo' we decided not to pay in July. We received several reminders from MC and one mailing so far with penalty fees attached but no real threats as of this time. It seems to us that if there is some sort of fair conclusion from AG action that we will be able to settle later. We do not like this situation but this seems like the most acceptable plan because the alternative (paying for nothing) is even more distasteful. Finally, the current value of our shares is $0 to us. However, from the Redweek meeting is clear that the MC was selling the 'returned shares from disgruntled owners for full retail value. Therefore we are also hopeful that if the AG comes up with a fair settlement that we will eventually be able to actually sell. I hope this is helpful.

vibhavarys wrote:

I am one of those angry owner .my email Vibha.m.shah@gmail.com I am thinking of not paying common charges this year . Anyone can give me some input about that pl . Thank you