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Re: Manhattan Club Lawsuit (by William M.):

When the property is sold, the $7,000,000 in delinquent maintenance fee payments will be considered an asset. Does anyone think the new owners , whomever they may be, will just write off the $7,000,000 as uncollectable?

Perhaps there will be an accommodation for those who can PROVE they were unable to use their time. (That doesn't mean waiting until the last minute to try and book.) How can that be proven?

Again, who believes the new owners will forgive $7,000,000, or part thereof. I don't. Who agrees/disagrees with me?

johnc300 wrote:

Hi

An estimate of the number of weekly unit equivalents not paying maintenance fee can be estimates as per below:

Reserve for Bad Debt per Schedule B of 2018 $7,000,000 (it has grown from $2 million a few years ago)

Weighted average of 1 week maintenance fee = $2,500 per equivalent weekly unit

Therefore number not paying = $7,000,000 / $2,500 = 2800 apprx. not people but units remember we have 1/2 weeks, alternated year owners etc.

Weighted average Number of Full Weeks 15392 per budget Estimated leaving 2800

Remaining weeks 12592 Lost Rev $7,000,000 Increased Cost per weekly equivalent unit $554.48 rough estimate say round to $500

Not chump change as it used to be 3-5 years ago

John