Manhattan Club Lawsuit

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Re: Manhattan Club Lawsuit (by Gail J.):

William - I totally agree with you from the standpoint of this being a business transaction. I do not see any feasible way that some company is going to purchase the Manhattan Club without attempting to collect from those who have not paid. Also, if the "bad debt" reserve is used up, I don't think the new owner is going to be amenable to contributing to build up the reserve from his own pocket. So, how does the bad debt reserve get replenished. One of three ways: (1) collecting back from those owners who have not paid (2) the funds from the legal settlement go to fund it . or (3) our dues have to be increased so the fund can be replenished.. So - any thoughts from anyone else on this debacle???