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Re: Manhattan Club Lawsuit

Robert: thanks for your input. I agree; in looking at the settlement, we "owners" are not precluded from selling; it is just no buyer would see any value in the current ownership interests. Does anyone know what the Eichners still "own" other than the right to manage which is, of course, subject to the AG settlement divestiture. Who controls whether new ownership "units" are or can be sold? Where do ownership units go if owners default on maintenance fees? I assume some current owners bought on the financing [provided by the Eichners?]. If the owner defaulted on the financing, I should think the financing provider then gets the unit and with it the obligation to pay any arrearage and the ongoing maintenance fee. Is this correct? How many units are thus owned by the Eichners or other financing providers. Again trying to get to a discussion of who owns and controls TMC and could make decisions on running TMC going forward or liquidating.