Traveltalkonline.com Forums



People Talk >> Caravanserai Now Alegria

Pages: 1 | 2 | >> (show all)
anjariasonal
Traveler


Joined: 09/17/14
Posts: 67
Pressure Scotia Bank
      #1608924 - 10/10/14 04:01 PM (71.255.245.228)

Dont underestimate the power of social media, if Scotia Bank has anything to do with it, go all out. Go to SXM tourism pages. Go to RCI on fb, go to every portal you can have your voice be heard.

When Sandy hit travel insurance in OBX refused to pay the travelers, but once enough of them got together they somehow decided to pay the travelers.


Post Extras: Print Post   Remind Me!   Notify Moderator  
Teresasxm
Traveler


Joined: 01/21/10
Posts: 347
Re: Pressure Scotia Bank [Re: anjariasonal]
      #1609164 - 10/12/14 10:47 AM (99.250.98.32)

Algeria seems to be basing their entire "legal position" around the statement that The Bank of Nova Scotia did not know the units were being sold as timeshares so our contracts/deeds/agreements...whatever.... are not valid. I know for a fact, bank officials were on the property numerous times where huge signs trumpeted that timeshare units were for sale. Building C was ALWAYS known as "the timeshare building". Scotia Bank may be Canadian but the institution has a large presence on the island and was not some offshore entity that had no idea what Manek was doing. Everyone knew Caravanserai was a timeshare property and units were being sold that way.

Alegria's stance that the bank didn't know is bogus and that is the bottom line.


Post Extras: Print Post   Remind Me!   Notify Moderator  
anjariasonal
Traveler


Joined: 09/17/14
Posts: 67
Re: Pressure Scotia Bank [Re: Teresasxm]
      #1609173 - 10/12/14 11:46 AM (71.255.245.228)

Scotia has a presence in bahamas and grand cayman, barabados as well, they will not want to tarnish their reputation for one deal.

They may very well be on most of the islands


Post Extras: Print Post   Remind Me!   Notify Moderator  
KATEONTARIO77
Traveler


Joined: 05/29/09
Posts: 247
Re: Pressure Scotia Bank [Re: anjariasonal]
      #1609183 - 10/12/14 12:51 PM (70.24.114.9)

The Bank of Nova Scotia has had a presence in the Caribbean since the late 1800's albeit mostly on British governed Islands......Canadian Banks are also governed by The Bank of Canada.....totally different concept than the USA banks....

The BNS only held the mortgage on a bankrupt property....as we all know a bankrupt company owes investment holders nothing......
kate


Post Extras: Print Post   Remind Me!   Notify Moderator  
ghjr
Traveler


Joined: 10/03/12
Posts: 40
Loc: Mississippi, USA
Re: Pressure Scotia Bank [Re: KATEONTARIO77]
      #1609197 - 10/12/14 02:57 PM (98.95.85.96)

If BNS would locked the place up and hung a for sale sign on the place after the bankruptcy I would agree with this. If they continued to operate as a TS either directly or through a management company, without voiding previous contract before continuing operations, selling units and accepting AMFs, they should be viewed as having purchased the bankrupt mortgage from themselves operating as an owner until sold to Aligrea meaning owner's contracts should be intact. Just my opinion which unfortunately means nothing...

Post Extras: Print Post   Remind Me!   Notify Moderator  
Eric_HillAdministrator
Administrator


Joined: 08/01/00
Posts: 11143
Re: Pressure Scotia Bank [Re: Teresasxm]
      #1609200 - 10/12/14 03:26 PM (173.145.236.205)

That "seems" to be the case, it is Alegeria that is stating about the t/s sales, has anybody been able to confirm that this is "actually" the bank position, or just that Alegeria is making this claim?

In a foreclosure, not sure why Scotia would care to some extent. They foreclosed and then sold the property to the highest bidder, would think with the understanding in this case that it was a t/s property so stuff was still being sold.

Now, the tricky part.... were there terms on the auction that nobody really knows about? Messy to say the least.

--------------------
Eric Hill
TTOL Shop


Post Extras: Print Post   Remind Me!   Notify Moderator  
BarleyMan
Traveler


Joined: 01/09/08
Posts: 349
Loc: San Diego
Re: Pressure Scotia Bank [Re: Eric_Hill]
      #1609216 - 10/12/14 04:42 PM (76.93.128.12)

It depends of the Liability and encumbrances in the sales agreement to Allegro.

Question... did anyone finance their TS purchase through Scotia Bank?

--------------------
[url=http://www.TickerFactory.com/]

[/url]


Post Extras: Print Post   Remind Me!   Notify Moderator  
KATEONTARIO77
Traveler


Joined: 05/29/09
Posts: 247
Re: Pressure Scotia Bank [Re: BarleyMan]
      #1609217 - 10/12/14 04:51 PM (70.24.114.9)

If anyone on this forum bought T/S from the Caravanserai "after" it went bankrupt......I will try and get a phone # and contact person next for BNS (scotia) week.....kate

Post Extras: Print Post   Remind Me!   Notify Moderator  
mecs
Traveler


Joined: 03/02/02
Posts: 1377
Loc: PA
Re: Pressure Scotia Bank [Re: KATEONTARIO77]
      #1609258 - 10/12/14 10:28 PM (24.144.229.52)

Does anyone know the date on which Caravanserai went bankrupt?

Post Extras: Print Post   Remind Me!   Notify Moderator  
mechtech43
Traveler


Joined: 02/07/11
Posts: 43
Re: Pressure Scotia Bank [Re: KATEONTARIO77]
      #1609317 - 10/13/14 11:47 AM (50.70.29.170)

Being a Canadian citizen, I dropped into the local Bank of Nova Scotia and talked with the manager. He indicated that there is not much that they could do as the Bank on St. Maarten is a separate division of their bank. He could not find any information in regards to this auction conducted by the Bank and its rules of the sale. It looks as he stated, you have to deal with the local govt. for any help in this matter.

Post Extras: Print Post   Remind Me!   Notify Moderator  
Pages: 1 | 2 | >> (show all)



Extra information
0 registered and 0 anonymous users are browsing this forum.

Print Topic

Forum Permissions
      You cannot start new topics
      You cannot reply to topics
      HTML is disabled
      TTOLCode is enabled

Topic views: 3604

Jump to

Contact Us Terms of Use Advertising on TTOL Traveltalkonline