People Talk >> Caravanserai Now Alegria

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Here are some of the questions
      #1608601 - 10/08/14 02:30 PM (

Here are some of the questions that I seem to remember being ask, that probably need to be revisited in their own thread:

What is the situation with RCI points and or trades.
What is expected with regard to the hotel policy.
Maybe repost the letter for those that have not gotten it.
Is there a formal group being organized.
How can I join that group.
What means are we going to use to communicate.
etc, etc.

Eric Hill

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Re: Here are some of the questions [Re: Eric_Hill]
      #1609086 - 10/11/14 03:02 PM (

Yes, there is a formal group that have banded together and hired a local St. Maarten lawyer. I was forwarded to this group from Jeff B and his newletter. See attached
Legal Alternatives

Monique Hofman is an attorney on St. Maarten with real credentials in the area of timesharing. A
number of timeshare owners are already in touch with her and she is contemplating next legal steps.
Here is her contact info:

Monique M. Hofman-Ruigrok
Bermon Lawoffice & Legislative Services
Frontstreet # 6, suite 3
Sint Maarten
Tel: 1-721-5425088 / 1-721-5425074 / 1-721-5437827 Fax: 1-721-5425087

As with any legal effort, there is no guarantee of success. In this situation, the current position of
timeshare owners is not totally clear. If you do join this group make sure you are clear on precisely
what you want to achieve. Do you want to continue to own your timeshare week? Do you want the
ability to trade that week into other resorts? Do you want the ability to sell that week to someone else?
Or do you simply want the right to use your unit in your selected week? Be sure you know what you
want and communicate it clearly if you decide to contact any attorney. As noted above, Alegria is a
St. Maarten business so if you want to deal with it from a St. Maarten perspective, you would have
to use an attorney licensed to practice on the Dutch side of the island.

Lastly, a number of people have asked us whether in fact the Bank of Nova Scotia was aware of the
timesharing transactions that have taken place over the last few years. All we'll say about that is
that the Bank of Nova Scotia is a highly capable institution that certainly must have done its due
diligence and must have known what the business was when it agreed to supply a large loan. Also,
since the Bank of Nova Scotia has been supervising the business for quite some time, we can't
imagine it doing so without thoroughly understanding the resort's business operations.

DISCLAIMER: We are not attorneys and do not give legal advice. We are simply trying to communicate
the current situation at Caravanserai in an effort to help timeshare owners know what they coping with
and what some of their options may be. As is always the case, it's up to timeshare owners to decide
on their own what they must decide on the basis of information they gather.

I believe if you really want to fight this travesty, this may be your only option.

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Joined: 10/14/14
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Re: Here are some of the questions [Re: mechtech43]
      #1609586 - 10/14/14 01:12 PM (

OK Guys,
If we are serious about getting anything back for our investment we need to band together (will join group above). 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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Re: Here are some of the questions [Re: MarkKnowles44]
      #1609631 - 10/14/14 03:11 PM (

Scotia sold this at about half of what was owed.

Other than the theory of "if" Scotia knew or signed off on selling Time Shares I am not sure what they now have to do with the place. Manek is gone, Scotia accepted a partial of what was owed at auction, both those parties are done. If you paid Manek and want money back, good luck but that is not going to happen.

You now have Alegria and their good name and existing Time Share law on island. New laws are not going to help this situation.

I would suggest a group pull together, with the Association and pitch that for say an additional $500 per unit special assessment that you get access for the next say 10 years rather than a 1 year out for Alegria. With reasonable AMF's and all this adjusted by type of unit. Think about that even if you do win, you know the special assessment would be coming as well as increased AMF's. An offer like this could generate enough cash for Alegria to see some value in it. Long shot, unlikely this would even work but it is an idea.

I am not signing the agreement, would rather walk away and I am fine with that. Will still support the others but unless something gives soon I see this as a losing battle for the TS Owners.


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Re: Here are some of the questions [Re: Todd]
      #1609685 - 10/14/14 06:27 PM (

It would be quite an undertaking getting enough in an association to make a meaningful presentation of this with such a short timeline to the deadline they have in the letter. Good luck.

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Joined: 10/18/14
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Re: Here are some of the questions [Re: Todd]
      #1610359 - 10/18/14 01:45 PM (

Well to give you hint on what you might get as a final answer : I WAS a full owner of a CONDO in the E building which was never finished and I paid in full. I decided to take action against Kildaire Properties Ltd. I did win in court .... A TITLE OF 20 YEARS a lawyers invoice for total fees for the lawsuit and a tap on the shoulder saying that my chances to collect a penny from Kildaire Properties Ltd are NUL !!! So good luck to all you timeshare owners! At least you might get a hotel room at the new ALEGRIA HOTEL !!

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Re: Here are some of the questions [Re: SummerBreeze1970]
      #1610360 - 10/18/14 01:51 PM (

Minister of Tourism Ted Richardson and the St. Maarten Timeshare Association (SMTA) held an urgent meeting on Monday to discuss recent developments regarding the new owner of Caravanserai Resort, Alegria Real Estate, and its relations with people who have purchased timeshare rights at the property. Parties agreed that a meeting would be sought in an effort to resolve the situation where these persons were told they have lost those rights.

In its press release, SMTA said that while it is a resort association, its primary mission is to represent the best interests of timeshare in St. Maarten. "The current state of affairs with Alegria offering to annul unilaterally the timeshare rights purchased since 2007 does not foster this goal, and so the SMTA has chosen to act as an advocate for the timeshare owners in resolving this quickly and in a way that serves everyone's best interests."

The association said the minister had agreed at its request to invite the principals of the Alegria Real Estate company, the head of the St. Maarten Scotiabank and SMTA to sit together to come to a quick solution that would not require court action to resolve these issues and to see that the usage rights that had been purchased were honoured.

"The minister is certain that we can come to an agreement that will benefit our tourism, investors and the industry alike," SMTA added.

"This past September provides a major insight into the importance of the timeshare industry and our timeshare tourists in St. Maarten's economy. Off-season tourism occupancy is considered the 'Holy Grail' of Caribbean tourism programmes. Timeshare resorts in St. Maarten, which make up over 70 per cent of the island's tourism beds, had an occupancy in excess of 65 per cent on average for the month," the release stated.

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