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anjariasonal
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Joined: 09/17/14
Posts: 67
Re: Pressure Scotia Bank [Re: mechtech43]
      #1609319 - 10/13/14 11:58 AM (71.255.245.228)

No I have a loan from scotia in Nassau, every loan has to be okay'd by the head office in Canada.

No decisions are made by local branches.


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eejmd
Member


Joined: 07/15/14
Posts: 2
Re: Pressure Scotia Bank [Re: mechtech43]
      #1609447 - 10/13/14 09:30 PM (76.97.21.4)

http://www.todaysxm.com/2013/08/12/financial-problems-drive-sale-caravanserai-resort/

I found an article from 8/12/2013, stating Caravanserai fell into financial trouble and was unable to repay its debts... does anyone know if they were formally bankrupt by this time? My wife and I bought our T/S at Caravanserai on 8/6/2013 and it was actually financed by a U.S. company. So we were wondering if we could dispute the charges and possibly recoup our money?


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BarleyMan
Traveler


Joined: 01/09/08
Posts: 349
Loc: San Diego
Re: Pressure Scotia Bank [Re: anjariasonal]
      #1609454 - 10/13/14 11:03 PM (76.93.128.12)

I guess my point was that if Scotia Bank was financing Timeshares, how can they claim they didn't know?

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eejmd
Member


Joined: 07/15/14
Posts: 2
Re: Pressure Scotia Bank [Re: BarleyMan]
      #1609458 - 10/13/14 11:14 PM (76.97.21.4)

Or, as possibly in my case, already have taken over Caravanserai (since they were wanting to go to auction over a year ago) but were still selling T/S.

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MarkKnowles44
Member


Joined: 10/14/14
Posts: 3
Re: Pressure Scotia Bank [Re: ghjr]
      #1609566 - 10/14/14 12:55 PM (181.188.99.195)

OK Guys,
If we are serious about getting anything back for our investment we need to band together. Alegria has stated their position clearly. As far as they are concerned we own nothing and we are owed nothing by them.
First I would like us to get together a list of owners. How? Manek should have one.
Next Scotia lent money to a company and held the LAND as the mortgage security.
What about the value of the buildings? In my limited knowledge of these matters the mortgage holder has some responsibility to sell the property at fair market value. If this value exceeds the loan amount the extra should go to the mortgagee. This depends on the laws of the land. If the mortgagee (Manek) is getting money back he should reimburse the timeshare purchasers in proportion to their original investment.


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SummerBreeze1970
Traveler


Joined: 10/18/14
Posts: 9
Re: Pressure Scotia Bank [Re: MarkKnowles44]
      #1610364 - 10/18/14 02:06 PM (96.23.93.50)

There is a FaceBook page called Caravanserai Timeshare Owners you might find some people their

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