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Re: Manhattan Club Lawsuit (by Robert S.):

Chris V - The Settlement agreement with the NYAG requires the current management organization (lead by the Eichner's) to sell their interest in TMC to a new manager within 3 years of the date the agreement was signed. Additional terms of the agreement preclude some members of the current team to engage in the timeshare business within the state of New York. Bluegreen appears to be the entity that will assume the new management roll and replace the named individuals in the settlement agreement. The exact terms of the arrangement between the Eichner's and Bluegreen has not been made public and my personal guess is it never will be. We, as owners, are left with a situation were we must trust the NYAG is enforcing its' own settlement documents.

But according to the way I read the settlement document Bluegreen should not be 'one in the same' as the Eichner's. Management of TMC is neither Eichner or Bluegreen. TMC is a building, services to manage that building an a business to operate it. Who literally owns the bricks and mortar I'm still not clear on. I believe we own the 'air-space' for a specific slice of time. I do not believe our Grant Deed has any claim to the bricks and mortar. It clearly has no claim to the business operations. Even our representation on the BOD for that roll is neutered. So your statement that TMC and Bluegreen are the same is not true. TMC is one of the properties that Bluegreen has an interest in. The 3 years since the settlement has not yet expired.