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Re: Manhattan Club Lawsuit

@WIlliam M. - In the offer email here's the relevant sentence that I THINK addresses your question: "Bluegreen, once it has acquired your interval, would begin making scheduled payments of the Charges to the TSA." I read that as, once the deed is recorded to Bluegreen they will make payments to the association to make up for any unpaid fees associated with the deeded unit. The current owner will walk away with $100 and no debt. The implication is Bluegreen sees enough value in the unit - regardless of how far behind the current owner is. They appear to be willing to pay those unpaid maintenance fees. To me that only means one thing: Bluegreen still sees enough value in the unit to support paying off Eichner and still being able to sell the inventory in the future - or convert the entire building to condo. This is the point that gets under my skin. The value is still there in the asset, but not until the ownership has been transferred. So we wait, or we sue and pick up where the NYAG left off and didn't finish his work. my 2 cents.