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Re: Manhattan Club Lawsuit (by Ron B.):

I wonder who is buying back these units? Is Bluegreen? Bluegreen is now using the Manhattan Club as way of using up their members points. If they own the units are they paying the same dues as the rest of us? If TMC is buying the units how does Bluegreen get to use them? The lack of transparency makes everyone question all of these deals. Looking at the financial statement there is an item showing a 10 million dollar bad debt. Is this for the year of the statement or is it the accumulation of people not paying their dues over time? I suspect this should be in the balance sheet and not the financial statement. By putting it in the financial statement under the terms of the management contract the management company gets a bigger payout.