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Re: Manhattan Club Lawsuit (by Nathan Z.):

Everyone is entitled to their opinion, but not their own facts. Unless an owner has sold their contract, they are still liable for whatever obligations they assumed, like paying maintenance fees. If they pay late, the MC can impose late fees or interest. I'm sure that's in our agreement. If you choose not to pay your fees, the MC can foreclose on your unit. and probably sue you for the difference between the amount they get for it at auction and the amount you are in arrears. That's how foreclosure works. If they cancel your debt, they can issue an IRS Form 1099-C, which will create a tax liability for you with the IRS. Try telling the IRS, "in my opinion, the agreement was null and void." We are all waiting for an administrator to pay any amounts due under the settlement negotiated by the NYAG. That will take two years for three payments. ! And we are waiting for a new management company to take over the day-to-day at the MC. After looking at this blog, I don't know who would want to take on this mess. But until that happens, all this posting is just opinion and wishful thinking.