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Re: Manhattan Club Lawsuit (by Dennis R.):

After review of the NYAG/TMCNY settlement, here are my thoughts regarding the primary points: Based on the NYAG/TMCNY settlement terms, any owner who did not pay annual maintenance fees between years 2011 through 2014 will not be eligible for any part of the first disbursement stage of $3,250,000. Many of those individuals who did not pay, I am sure, will cry foul and/or not fair. However, the settlement outline is quite clear. The second and third stage disbursement of restitution are more open to interpretation. Although it is quite clear that individuals must remain a current TMCNY owner in good standing at the time of each stage of the restitution to be eligible. Additionally, I suspect that although not specifically stated, owners will have to be current regarding maintenance fees as well. My assumption is based on the fact that the qualifications and all disbursement stage descriptions are outlined in one section (#69). Furthermore, non-paid maintenance fees are part of TMCNY property revenue and value which will be calculated into the selling price of TMCNY when sold. Therefore, those said fees in arrears could continue to be eligible for collection by the future owners or current ownership could retain if more beneficial than write-off.