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

Ditto....

deborahs528 wrote:

nathanz2 wrote:

As an FYI to people on this thread, I spoke to someone at the NYAG;s office today and was told:

(1) The MC paid the first installment of the settlement ($3.25 M) at the time the settlement was signed, as a condition of the settlement. (2) The Administrator was appointed shortly thereafter and has been working on setting up the distribution ever since. Payments to those eligible will be mailed "shortly," although no detail was available as to what shortly means. And we may all expect that "eligibility" will be a sore subject. (3) Negotiations are underway for the sale/transfer of the MC.

I am not including the name of the Settlement Administrator because any inquiries will be referred back to the NYAG. I am not including the name of the person at the NYAG because they cannot advise any individual regarding their individual situation. As I have said on this thread before, I only hope for the resolution of the situation with a restoration of liquidity, owner majority board and transparent scheduling. We do seem to be getting closer to that endpoint.

Thank you so much for calling and discovering these details and sharing them. It is good to know something is happening and things are moving forward. I can't understand why "they" can't keep us in the loop, like posting an occasional update on the NYAG site. They did spell out in the settlement that it will take up to 3 years for the settlement to be complete and I thought they were pretty clear as to who will qualify for any kind of re-imbursement which promises not to be much. I am thrilled to hear they are in negotiations with a buyer. I am surprised no owners have shared that they got a re-imbursement.