bankruptcy

So odd, I paid my French Quarter, had penthouse status, but was sold the building 8 went to bankrupcy, paid $300.00 to a lawyer to file in bankrupcy cout for me, but the ironany, is I was told French Quarter , was going to go into bankruptcy 2 yrs. before they did??? So I do have a big loss. think they are all in bed with each other!!!! Because the one that sold F.Q. sold me timeshare at a different resort, so they use one against the other to sell... now that should be agaisnt the law ...

Well, I don't know alot about class action, but I tell you this.. I was told about F.Q., was going to file bankruptcy almost 2 yrs. before it happened.A person sold me another timeshare,told me he'd have mine ( F.Q.) sold within 90 days, well that never happened just shelled out more money, what a racket, well really got mad when I realized the person sole new the new timeshare , was same person who sold me my last F.Q. timeshare.. so last year we walked in and I told manage I was frauded into buying the new one. talked with the owner and had my money back ,by January 2012.. but lost the building 8, still have two more weeks with F.Q. so don't know what's going to happen.maybe there are alot more people that have the same story or close to it, this is a big fraud to the public, and the maintances fees go up, started at 249.00?? now up to close to $1000.00. after your timeshares are paid they still up the fees. go figure

jiml317 wrote:

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 am an owner og building 8 or 800. I had an attorney draw up papers for the bankruptcy court, as I have three or penthouse status.But don't know if I just lost building 8 or 800. all paperwork at Tanney County and I have copies. It's so odd, that a person new they were going to banrupt a yr and a half or 2 yrs. before it finally happened. there is a lot of fraud going on, and the F.Q. isn't the only one I own... would love to get all my money back.. don't like being lied to..this is not good and there needs to be a regulation on this..think southwind, if I'm not misstaken is stormie point???that needs to be checked out

robertc1161 wrote:

I've spoken with the bankruptcy trustee, and the new buidling 8 owner is apparently claiming that the owners of building 8 have nothing. I'm a south carolina attorney representing a couple who bought a unit in building 8. It appears that they paid for title insurance with a closing attorney here, and that may cover their loss. I'm currently investigating this claim. If you have information regarding this, I'd like to hear about it. Robert Culver in Charleston, SC. 843-853-9816

Be careful, you will probably inherit the timeshare and all the good?????? Things that go with it.

have also received a letter from Robert Culver since I am also in bldg. no. 8. wrote a reply and asked how this would work such as money up front, when does Mr. Culver start asking for fees. Has another else had experience with Culver, he does has a website.

I am a bldg 800 owner can I dedut the loss from my taxes

We own a one bedroom on a Tri-annual basis @ FQ in Branson and our trading power is 21. I think that's pretty good. We were able to excange and have some leftover for an extra vacation.

jiml317 wrote:

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.

Who is watching out for our concerns. It doesn't sound to promising for any time shareholder anywhere. They are still trying to sell new time shares. Who is going to step in for our benfefit.

I'm just curious, everyone who owns in Bldg 8 or 9, does your warranty deed or sales contract say Bldg 8 or 9? I do not find what Bldg# we bought into listed anywhere on any of our paperwork, except that it repeatedly says "French Quarter Condominium IV". I just called FQ to find out what Bldg we are in and they said Bldg 9 and that the courts determined that owners of Bldg 9 no longer own anything.

In reading this thread, I wanted to clear up some inaccuracies in this post...this owner names Southwind Management Corp(SMC) in documents stating that "French Quarter is now SMC" this statement is not correct, SMC is the management firm for the resort. This owner mentioned a letter in which legal action was threatened against him. Below is an excerpt of that letter:

"Southwind Management Corp is strictly the management entity for the French Quarter Resort Association and at no time participated in any sales activities or related representation made during the sales presentation. Further, no individual outlined in your letter was ever an employee (or independent contractor) of Southwind Management Corp. We suggest you consult the documents provided to you at the time of your purchase and file whatever complaint and claim you believe you have with these parties. Any malicious action taken against Southwind Management Corp will leave us no choice but to seek the advice of legal counsel."

As you can see the letter sent to this owner was in no way threatening and simply stated we would "seek the advice of legal counsel". Mr. Williams is the COO of SMC and as such would be the author of this type of correspondence. The letter was informative and meant to clear up some confusion on the part of the owner who incorrectly stated some information.

roberts1192 wrote:

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

Have any of you that owned in Bldg 8 or 9 taken the loss of your timeshare on your taxes?

as an owner in bldg. 8, I finally received the last notice of the bankruptcy process. since I responsed early, I am listed on page 1 or the apprx. 30 pages of bankruptcy individuals that have purchased in 8 or # 9 proposed bldg.. I am aware the I believe the mo. attorney general s Chris Koster, who has not responded or provided any assistance in the french quarter fisasco . I would believe that those providing rooms, rest, and entertaintment would be aware of this problem. For example, I plan to write chris Koster and advise him of the bankruptcy latest notice and with 30 or more pages of customers that listed, how many millions of dollar are involved in this branson "scam" . plan to copy in some of the rest. chains, silver dollar city, motel chains. etc. and make them aware that I always planned on bring kids and grandkids to silver dollar city. (always purchased a seanson pass, etc. and after a week each visit, there were many $$ spend for this travel to branson, Now, I will not visit Branson for any reason with all of the "scams" going on over this timeshare unit. It is amazing that when I had a problem in Calif, and Nevada, I notified the attorney general in those states, and with excellent results. received a call from the "scam" company, and said that they see that I turned in a complain into the Attorney General, and they had to reply with the results. I am wondering what kind of an ATTORNEY GENERAL IS LOCATGED IN MISSORI?. Need I say more.

Thanks robert1192. Keep us informed about the Attorney General. It is a big scam on these timeshares deals. They should have stepped in years ago. I can only pray that some one steps in and helps the people of this country.. I think the bigwigs have already got their shares.

My mistake. This country.

LEGAL NOTICE If you bought a timeshare in Building 8 or Building 9 (also known as Building 800 and Building 900) at the French Quarter resort in Branson, Missouri, you can get benefits from a class-action settlement A settlement has been proposed in two class action lawsuits about timeshare intervals in Building 8 and Building 9 at the French Quarter resort in Branson, Missouri. The settlement will provide a pool of money to pay claims from Building 8 and Building 9 timeshare interval owners. Additionally, there are 300 timeshare intervals at the French Quarter resort that may be conveyed to Class Members. If you qualify, you may send in a claim form to get benefits, or you can exclude yourself from the settlement, or object to it.

The United States District Court for the District of South Carolina authorized this notice. Before any money is paid, and before any timeshare intervals are conveyed, the Court will have a hearing to decide whether to approve the settlement.

Who’s Included?

You are a Class Member if you fit the following description: all people and all entities that bought one or more timeshare intervals in either Building 800 (also known as Building 8) or Building 900 (also known as Building 9) at the French Quarter resort in Branson, Missouri.

Excluded from the Class are: (1) people who timely exercise their right to opt out of the Settlement; (2) people who timely rescinded their purchase; (3) employees of the Defendants; and (4) employees of the Court.

What’s This About?

The class-action lawsuits allege that the Defendants are responsible for the losses resulting from the failure of French Quarter Group to deliver completed timeshares to buyers in Building 8 and Building 9 at the French Quarter resort in Branson, Missouri. The Defendants deny they did anything wrong. The Court did not decide which side is right. But both sides agreed to the settlement to resolve the cases and get benefits to the timeshare owners. The two sides disagree on how much money could have been won, if any, if the cases had proceeded to trial.

What Does The Settlement Provide?

In exchange for full releases, the Defendants have agreed to create a fund of $4,129,640.24 and 300 timeshare intervals in other buildings at the French Quarter to compensate injured owners and pay class-action costs, including fees for the Class’s counsel. A Settlement Agreement, available at the website below, describes all of the details about the proposed settlement.

Your share of the fund will depend on a number of factors, including the number of valid claim forms that Class Members send in, the amount of your loss, and the number of class members who opt to receive timeshare intervals. Generally, the larger your net loss, the more money you will receive. All of the $4,129,640.24 will be paid out.

How Do You Ask For A Payment?

A detailed notice and claim form package contains everything you need. Just call or visit the website below to request one. To qualify for a payment, you must send in a claim form. Claim forms are due by June 5, 2015.

What are your Other Options?

If you don’t want to be legally bound by the settlement, you must exclude yourself by June 5, 2015, or you won’t be able to sue, or continue to sue the Defendants about the legal claims in these two cases. If you exclude yourself, you can’t get money from this settlement. If you stay in the settlement, you may object to it by June 5, 2015. The detailed notice explains how to exclude yourself or object. If you do nothing at all, you will not receive any benefits of the settlement and will lose your right to pursue the Defendants for your losses.

The Court will hold a hearing in these cases Case, et al. v. French Quarter Group, III, LLC, et al. (Civil Action No. 12-CV-2804-DCN) and Case, et al. v. Plantation Title Agency, Inc., et al. (Civil Action No. 12-CV-2518-DCN) on July 15, 2015, at 10:00 a.m., to consider whether to approve (i) the settlement; and (ii) a request by the lawyers representing all Class Members (Pierce, Hearns, Sloan and Wilson, LLC and the Culver Law Firm, P.C., both of Charleston, S.C.) for $2,050,000 in attorneys’ fees and $584,734.48 in costs, for investigating the facts, litigating the case, and negotiating the settlement. You may ask to appear at the hearing, but you don’t have to. For more information, call toll free 1-877-301-2661 visit the website www.FrenchQuarterClassAction.com or write to French Quarter Class Action, c/o Angeion Group, 1801 Market Street, Suite 660, Philadelphia, PA 19103

We just got our letter today about the class action lawsuit. I thought this was a done deal and we would never see anything more on this. Was so happy to learn that we may get some money after all. Now just trying to decide what the better option is. Trying to get one of the 300 replacement timeshares or some money. One thing I am wondering is will the value of the replacement timeshare be comparable to what we had? For example we had a 1 bdrm on a Tri-Annual, no set week, and exchangeable. So is that what we would get?

I am interested in anything having to do with the fraud being used by Spinaker resorts and Southwind. Include me, as I intend to get the Attorney General and possible local television involved also.

2020 owner update and deed back charge. Wondering if any owners have been to a recent update where they are being talked into a deed back agreement that cost $5k or instead get that applied to another unit? Salesman talks a nice scary talk of being charged excessive maintenance fees and you’ll pay those or you’ll pay this less amount to protect yourself. Either way you’re going to owe more money so best to get something extra with it. It would be nice to have an owner update from the HOA and not from a slick salesman. He also advised the HOA are different between the buildings and that some are a worse than others. As owners we’ve honestly been in the dark through most of this mess.