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

Hi Mary,

There is no case. There never was a case. All attempts at bringing a civil suit were dismissed. And I doubt individuals can bring a criminal complaint. There was an investigation by the NYSAG which has been concluded and settled. You can find the settlement document on the NYSAG website by searching "Manhattan Club AOD."

As far as any other info goes, you need to wade through this blog. If you think 175 pages is too long, thank the people who felt entitled to share every thought and feeling they had. To the extent it helped communicate among owners to bring pressure to bear on the AG, it was helpful. But for the most part, probably 125 pages out of 175+, it was unfocused, personal and not helpful in resolving the greater issue. You judge.

Despite many suggestions, the settlement is not going to be changed. Unless another way is found to "claw back" assets from the MC sponsors, no one is buying back MC units, not the new management company, and certainly not the current owners. No matter how good the ideas may be, the matter has run its course through the system. We are now waiting for (1) the appointment of an administrator to distribute the funds over the timeframe specified in the AOD and (2) the selection and transfer of the management of the MC to a new management company.

Then we'll see what comes next.