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Update on Manhattan Club issues (by Jeffrey W.):

Time for a re-set for all owners on this forum.

There is NO pending class action lawsuit. There are way too many legal hurdles to overcome to justify another class action.

However, a new group of attorneys with major litigation experience are considering new legal action that could provide some relief for owners.

Beyond that, the next big moment in TMC history, beyond the Schneiderman resignation, is the Aug. 9 board meeting. This is where owners can speak their mind, ask questions about the AG settlement, raise concerns about the continued involvement of Eichner affiliates in aftermath of the settlement, ask questions about number of defaults at club and, most importantly, about status of new buyer/owner who will take over management and replace Eichner associates on the board. Most owners who contact RedWeek are furious that AOD settlement from New York AG allows Eichner group to stay in charge of club despite acknowledgement of all issues in settlement agreement.