Resort management has changed from Southwind to the Colonnade

I received the Good Management letter yesterday 6/25/18. I have had two attorneys review this case for me and will not send money because someone sends a bill or organizes a meeting. I realize there is power in the court, but there are also many issues in my favor. The clause "tangible and intangible assets" is where I will have questions. Clearly the buildings are the intangible assets and GreenLake is entitled to recover it's investment through the sale or re-purposing of the buildings, grounds and other physical assets. I suspect the the HOA is in the intangible asset category. I also suspect Good Management will want to elect HOA officers to represent and empower the HOA or a new HOA to enforce the collection of fees or the forfeiture of the units for not paying fees. I intend to spend my first dollars on a personal attorney because of the dereliction of duty by Interjit resulting in the destruction of my time share value not only now, but also in the future. I believe the reputation of Grand Regency is permanently damaged and as a result, so is my investment. As far as I can tell, the previous HOA never relinquished governing authority to Interjit and I believe he illegitimately took control of the HOA board by not informing them or the members of important meetings and elections. I could go on, but you (and Good Management who is likely reading this post) get the point. I am fine walking away from my investment if I do not have maintenance fees or expenses to pay. If GreenLake is interested in a discussion about the future, they will need to show me a plan where they pay the cost of restoring the assets into a good and usable condition. When they loaned the money to Interjit, they took that responsibility.

I'm with you. Good Management is free to send all the bills they want to whomever they want. But at the end of the day, if they want to pursue the collections route, they're going to have a difficult time. The property was so badly mismanaged that there is no way any contract is enforceable at this point. The LLC's that Inderjit established and that managed the properties breached the contract by failing to maintain them (whatsoever). The funds that WERE sent by owners were blatantly misdirected (into Inderjit's personal and other business entity accounts) and all of us owners now have nothing to show for our investment.

For our $700+/ year in maintenance fees, the property was NOT maintained. Contracts broken. We all had an obligation to chip in and pay to maintain the property. That's how timeshares work. But the property owner has an obligation to actually maintain the property in usable condition. Unfortunately that did not happen in this case. I have no signed agreement with Good Management, no signed agreement with the lender. I never agreed to continue sending funds to GreenLake because they were ignorant enough to loan a stupid amount of money to a career criminal that fleeced us of funds and allowed the property securing their loan to fall into complete disrepair. I've been screwed once. Contract breached, I'm tapped out. GreenLake empowered Inderjit to do what he did to us. I'm playing no part in bailing them out of the mess they helped create.

Another letter and another promise? These people are professionals and are not afraid to lie to get your money then smile and shake your hand. Bull.... I was thinking about attending the meeting but thinking about it maybe if we all didn't show up maybe they would get the message. Again these people are pros and will do anything to get our money . Let them fix first then collect fees with original plan to build two more buildings with a clubhouse w/pool. Bull...,Bull....

I agree no more payments, good idea to not attend meetings, lets be done with this. I am sending letter this morning to good management telling them the same thing that you are saying.

We are actually going to try to make it to the meeting. Revamping timeshares on the edge of closing is what Good Management does. The location is fantastic and with the right management I think it’s going to come out ok.

Don't do it.

I see no reason to believe anything anymore. They may say and promise but how many times do you get told that before can see what they are doing. Where's the proof. I'm glad you feel you must attend the meeting just remember the first time you got free tickets. BEWARE, they will do anything to get you to pay.....

I am a fully paid owner at Grand Regency since 2002- (3 bedroom lock down, every other year). We've been to Branson 3 times and exchange on Interval. In 2002 we were shown pictures of their plans for expansion beyond the 2 buildings (which were beautiful at the time), swimming pool, work out room, etc. We waited year after year and nothing except excuses We then learned the piece of property would never have allowed the expansion or pool they promised; it was all a lie. Around 2015, they requested an extra payment, explaining extra repairs were in needed, which I did not pay. However, I have faithfully paid my MF every other Jan, including Jan 2017. I then called to book my room on Interval in Sep 2017 and learned the Regency had been shut down and Internal would not accept my exchange. When I called the Grand Regency, they admitted this was the situation and promised I could stay at the Colonnade in 2018 (to make up for the week I lost in 2017). I made a reservation last Feb for the last week of July 2018. I called this morning, before making plane reservations, and, after 3 attempts, was told I was "on a list of people to call. The city shut us down and we don't know when we will open, so I need to cancel your reservation." I asked him where they would put us up for the week, since they defaulted on their end of the arrangement. He said he couldn't help me and that I should call the people who sent the letter about the 7/25 mtg. I feel Grand Regency owes the owners the value of the accommodations/transfer options they failed to provide. I talked to the Branson CofC and City Office; both said they had no information and were unaware the Colonnade had closed. I also left a message with the BBB and talked to the MO Attorney General Office; she told me about the complaint option. Please include me in future correspondence. Thanks. jlarsen@semhs.org

We must all band together and refuse to pay any add'l assessments. I have filed a formal complaint with the Mo. Attorney Generals office and I encourage everyone to do so. Much more effective tan BBB or other avenues. It is evident Inderjet possibly committed fraud; the current mgmt. company appt by the court, cannot possibly come after ALL of us for any non-payment of assessment. They even ASK US to call and make arrangements to PAY! I cannot believe this! We have all lost enough money! We may be forced to file a class action suit, but let's try to accomplish this on our own and form a UNITED FRONT now! Who will be attending the meeting on 7/25? We need a local representative .

I am with you.

We haven't received any mail from Good Management. If we do will not send any money. We have lost so very much. And put many hours on working on this mess. Will be in Branson in November and will go to Mayors office and do some checking. Carol Holmes

If you haven't received the letter, you're in luck! Good Management has no idea you're an owner. It's becoming very apparent that Inderjit didn't keep really tight records (imagine that, not keeping detailed records and a nice paper trail of your embezzlement activity). Under Inderjit's watch, they never sent me invoices, but would send me past due notices w\ interest and penalties. I think it was just his way of getting a little bit more. I started proactively contacting them to pay my MF (silly me!). But I obviously didn't exist in one set of books he was working from. I don't think he left a lot behind for anybody to work from, so my guess is, Good really has no idea who the actual owners are.

I vote for keeping it that way, not throwing good money after bad and just let the place fall down - as many of you fellow long time owners know, GR has a pretty sad history. Lots of unkept promises, I don't think any of us can show any return on our investment at this point and I'm not in the mood to hand over the kind of $ they are going to need to even restore GR to it's rather mundane state. In the best of times, GR has really not ever been a true resort. Sad, but true. The vision we were sold on was great if it came to pass, but it never did. So I'm going to have to go with the reality we find ourselves in and how much is it worth to save a few abandoned, neglected, landlocked, old condo buildings on a hill. Not very much.

I did not get a Good Management letter either, so maybe I'm off the hook. Maybe I can just quietly exit stage left as they only begin to realize the total mess they have on their hands.

Thanks Jeff for your input. We are one of the losers at Colonnade and have made many calls to the previous management co. without a reply. Even went to the colonnade for a scheduled meeting of owners in mid Nov. which was canceled without me knowing. Place was a total mess when we got there and even though we stayed there for 2 nights it was horrible. In any case I have since made a formal complaint with the Attorney Generals office of Mo. It would be interesting to get an opinion from your lawyers to see if a class action suit might be the way for all of us to get out of this mess. I'd be interested to hear what your thoughts are regarding this. Appreciate your input. Lets put the crook in jail and let the bank suffer the consequences of loaning money to him. Sven

I visited Branson last week. I went to Grand Regency to see for myself if anything is being done to fix it up....ABSOLUTELY NOTHINGis being done to repair it since I was there last year. It is deplorable! I wish I could post the pictures that I took. Apparently there are a couple of young guys living in one of the upper condos because they were sitting out on the patio. There was a huge dumpster there but it doesn’t look like it was being used. Several laundry hampers were sitting outside, furniture was sitting outside on the patio’s as well as rugs, pillows and comforters. Windows and doors were boarded up in many of the units. The gate was roped off, however one side was down therefore I was able to get back there to take a look. I don’t think they are planning on putting any money into it unless they can get it from the owners. I have contacted everyone that I think of to contact about this situation. I wonder if we contact the TV station if that would help? The states attorney sent me a letter in January saying I had a credible complaint and they would get back with me...Of course, I haven’t heard anything else from his office. I think we need to be heard, and we shouldn’t send any more money to anyone else!

I can’t believe one of the condos is decent enough to live in...they may not be living there, they may have just been there temporarily. Not sure.....

We also got the letter about the July 25 meeting. We don't plan to send them anymore money.

So, everybody have their piles of cash ready to throw at the new management company tomorrow?

The only thing I’m interested in learning about is deedbacks. Best thing for all of us is if they want us all to deed our weeks back to them so they can redevelop the property as a t-shirt/craft/antique shop with attached mini golf course and water slide.

We are in Branson and will attend the meeting tomorrow. This evening we drove up to the Gand Regency, and talked to one of the gentlemen there. There are guys there dryealling, painting, etc. He said they have been working twelve hour days trying to get it all back in shape. I'm looking forward to getting answers and info tomorrow.

I agree at this point they should let us deedback and they can start the resale project all over if they want to. This has gone too far and they will not fulfill the obligations of the previous owners, give us and them a clean slate to start over........ but I am not interested in staying with this property.

It was a very informative meeting. Should be ready for occupancy again in September or October, and they are working with the exchange companies to get back in the system. The lender is anxious to save this because they have a lot invested in it; Good Management Company seems very good and on the ball. Remember, these aren't the guys that broke it, but they are the guys trying to fix it.