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Re: Caravanserai now Alegria
[Re: SXMWendell]
#29212
10/05/2014 12:37 PM
10/05/2014 12:37 PM
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Joined: Mar 2002
Posts: 1,377 PA
mecs
Traveler
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Traveler
Joined: Mar 2002
Posts: 1,377
PA
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Interesting take on it Wendell. But we own a cemetery here in the states. If we sold it the law would protect those who have purchased lots there and any future owner of the property would have to honor that regardless of what the bank wants. People were led to believe that timeshare law on St Maarten would similarly protect them in the sale of a property being openly used to solicit timeshare purchases.
Last edited by mecs; 10/05/2014 12:39 PM.
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Re: Caravanserai now Alegria
[Re: RI Bob C]
#29219
10/05/2014 01:42 PM
10/05/2014 01:42 PM
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Joined: Mar 2004
Posts: 4,322 Vancouver, WA
Todd
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Joined: Mar 2004
Posts: 4,322
Vancouver, WA
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Sure seems like not many have received this, it was sent via email. They certainly have my email address. I know that they have my phone number as well, and my address. I am sure they have most others as well, so I do not get the why on this.
As for his team of lawyers, this gets to opinions of what should be able to be done vs. who will fight against it.
As for the property, you can bet it is going to get nicer and nicer there, especially if they intend to run as a hotel. I do not see this Ray as a guy that wants to own something unless it is nice, something he can be proud of. Think about that statement, in the end that may be key.
I hope we are able to get some clarity this next week. Cheers, Todd
I prefer the Isle seat
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Re: Caravanserai now Alegria
[Re: Todd]
#29220
10/05/2014 01:43 PM
10/05/2014 01:43 PM
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Joined: Aug 2000
Posts: 83,044 Central Florida!
Carol_Hill
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Traveler
Joined: Aug 2000
Posts: 83,044
Central Florida!
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Sorry, it seems like there is some fairly scary clarity right now--the t/s 'owners' are going to take it in the tookus.
Carol Hill
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Re: Does Anyone have the full text of the email?
[Re: DebNLena]
#29228
10/05/2014 03:34 PM
10/05/2014 03:34 PM
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Joined: Dec 2004
Posts: 5,091 Massachusetts
boucharda
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Traveler
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Posts: 5,091
Massachusetts
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"Point" being (sorry) that RCI has dropped the resort so the points agreement would be null and void. They are out of the picture...
I do not understand how a unit can be "deeded" and be a "right to use" which is limited by x years....
Obviously if you have a deeded unit then you have a right to use it but there is a difference between a defined RTU ownership and a deeded one.
The points discussion is pertinent when the deeded or RTU agreement is changed to a points only ownership by agreement owner and resort (like SBR is trying to do)
Last edited by boucharda; 10/05/2014 03:40 PM.
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Re: Does Anyone have the full text of the email?
[Re: SXMScubaman]
#29236
10/05/2014 05:31 PM
10/05/2014 05:31 PM
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Joined: Dec 2008
Posts: 3,276 Boynton Beach, FL
EdB
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Posts: 3,276
Boynton Beach, FL
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i kinda agree with Scuba on this one. Since the resort was purchased from the Bank.....and the Caravanserai was totally bust and millions in debt, legally i believe that the corporation does no longer exist, and the monies paid into it are probably long gone.(or in this case in Mr. Manek's personal off shore bank account somewhere) I don't beleive the new owners of the property have to live up to any type of agreement made by the previous owner UNLESS the individual units purchased are actually recorded in some land bank (ie a SXM registry of deeds), but I do not beleive that Timeshares in Saint Maarten get recorded into something like this. I bet that the new owners are trying to ''appease'' the current individual timeshare owners by offering them a weekly rate for a hotel room the ''special rate'' of whatever the maintenance fee would've been on one's individual unit. of course, it sounds like people that owned a higher floor, or a larger unit (ie 2-3 bedroom or penthouse) could be subject to paying higher room rates for a lower standard size hotel room. Honestly, I can't see how the government will be able to help in this case...they sure aren't going to miraculously give millions of dollars to ''tourists'' that got swindled over the years. It's going to take years and years for this new named venture to remove the stink of it' previous ownership. Seems like since its early inception this particular property has been doomed. Someone walked away with millions....and the new venture starts off ''clean''. SMH
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Re: Caravanserai now Alegria
[Re: SharonfromSXM]
#29238
10/05/2014 05:47 PM
10/05/2014 05:47 PM
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Joined: Apr 2001
Posts: 14,656 Brookfield, CT.
pat
Traveler
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Traveler
Joined: Apr 2001
Posts: 14,656
Brookfield, CT.
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<img src="http://www.traveltalkonline.com/forums/images/graemlins/Thumbsup.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/Thumbsup.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/Clapping.gif" alt="" /> <img src="http://www.traveltalkonline.com/forums/images/graemlins/Clapping.gif" alt="" />
Respectfully,
pat
"Always keep your words soft and sweet, just in case you have to eat them."
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Re: Does Anyone have the full text of the email?
[Re: EdB]
#29239
10/05/2014 06:03 PM
10/05/2014 06:03 PM
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Joined: Aug 2000
Posts: 11,585
Eric_Hill
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Traveler
Joined: Aug 2000
Posts: 11,585
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Yes, there are a whole lot of things going on here. You have the foreclosure, not sure there was actaully a bankruptcy. But the bank owned the property for sure at some point. You have the sale.... are/was there any conditions to that sale?? Probably not, but we do not know.
Are ther ramifications to the curretn t/s owners, that is a given. Are there reasons that the new owner will do anything, again who knows. Is there a difference between owners that bought before the foreclosure and those that bought after the foreclosure... no clue and don't think anybody has a clue at this point in time.
Was there actually a deed, was there actually .............. whatever. Seems that everybody is speculating and what I find is strange (but not unrealistic at all) is that anybody so far that bought before the "foreclosure" has not received anything. Has anybody that bought before the foreclose recieve anything?? So far from the responses so far, that does not appear to be the case, but maybe I have missed some??? Previous owners, have you as of NOW recieved an email or letter? Not that it makes any difference, but maybe it does?
That does not mean your investment is not "toast", just curious. What does that mean? Don't have a clue, but jumping to conclusions might be correct but they also maybe incorrect. This just broke on basically this weekend, correct??
This could easily be a really bad thing. But .... not going there. <img src="http://www.traveltalkonline.com/forums/images/graemlins/Yikes.gif" alt="" />
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Re: Caravanserai now Alegria
[Re: SharonfromSXM]
#29245
10/05/2014 07:44 PM
10/05/2014 07:44 PM
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Joined: Mar 2004
Posts: 4,322 Vancouver, WA
Todd
Traveler
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Traveler
Joined: Mar 2004
Posts: 4,322
Vancouver, WA
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Thank you Sharon.
I am hoping that we hear more this week, and that the TS owners are able to get organized in the fight. My stake in this is small, to the extent that financially the loss of the $675 for AMF's for my week 49 that they now want me to pay again to use the unit is basically it. I consider myself ahead based on what I put into the place. I will not be paying another $675 to stay there week 49.
My major stake in this place is all those that I care about that have a lot more invested. Starting with all those that lost their jobs, the businesses associated that depend on this for income and then all of you have a bunch of money into the place and deserve better. With this in mind I am here to support all of those people.
I hope that even though there is a limited time to deal with this, I hope that people will show some patience for this next week so we as a group can acquire more information.
Cheers, Todd
I prefer the Isle seat
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Re: Does Anyone have the full text of the email?
[Re: DebNLena]
#29250
10/05/2014 09:50 PM
10/05/2014 09:50 PM
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Joined: Mar 2002
Posts: 1,377 PA
mecs
Traveler
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Traveler
Joined: Mar 2002
Posts: 1,377
PA
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Looking at my paperwork, Endless Vacation, N.V. is acting on behalf of Caravanserai. Endless Vacation is also the name associated with RCI on its website. RCI has US connections, right? If RCI was driving these sales and using their reputation to give legitimacy to the Caravanseri sales, can't they have liability as well as Caravanserai? Seems like they all worked together here. And the bank was allowing them to utilize space in the Caravanseria to do this work while the property was in auction.
Last edited by mecs; 10/05/2014 09:51 PM.
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