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Timeshare owners win over Alegria
#226034
05/05/2020 11:56 AM
05/05/2020 11:56 AM
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Joined: Mar 2009
Posts: 18,728 Auburn, WA
SXMScubaman
OP
Traveler
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OP
Traveler
Joined: Mar 2009
Posts: 18,728
Auburn, WA
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Re: Timeshare owners win over Alegria
[Re: SXMScubaman]
#226110
05/06/2020 12:11 PM
05/06/2020 12:11 PM
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Joined: Aug 2012
Posts: 642
foreversxm
Traveler
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Traveler
Joined: Aug 2012
Posts: 642
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Its good news but I wonder if their is even any assets or money to collect from or will they just file bankruptcy ? Ive heard of people that win in court but never can collect and in this COVID-19 world harder. Hopefully the attorney is working on a contingency fee basis...but I would kinda doubt that.
Last edited by foreversxm; 05/06/2020 12:12 PM.
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Re: Timeshare owners win over Alegria
[Re: foreversxm]
#226148
05/06/2020 07:57 PM
05/06/2020 07:57 PM
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Joined: Jul 2013
Posts: 837 Florida
wilsonck
Traveler
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Traveler
Joined: Jul 2013
Posts: 837
Florida
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Its good news but I wonder if their is even any assets or money to collect from or will they just file bankruptcy ? Ive heard of people that win in court but never can collect and in this COVID-19 world harder. Hopefully the attorney is working on a contingency fee basis...but I would kinda doubt that. I have got to think Ray Sidhom has lost of ton of money between purchasing the property, money spent to upkeep it, money spent for repairs after the hurricane, and now money lost from no travel to SXM. Then the money lost to lawyers too between representing him and paying TOCA lawyers fees. He just needs to wave the white flag at this point and leave the island.
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Re: Timeshare owners win over Alegria
[Re: wilsonck]
#226153
05/06/2020 08:35 PM
05/06/2020 08:35 PM
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Joined: May 2002
Posts: 5,292
Kennys
Traveler
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Traveler
Joined: May 2002
Posts: 5,292
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Re: Timeshare owners win over Alegria
[Re: Kennys]
#226160
05/06/2020 09:35 PM
05/06/2020 09:35 PM
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Joined: Mar 2004
Posts: 4,303 Vancouver, WA
Todd
Traveler
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Traveler
Joined: Mar 2004
Posts: 4,303
Vancouver, WA
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Good for the people that put up the fight, I did not, but I had about nothing invested. Based on what I have seen at other places like Flamingo and Royal Palm all he really now needs to do is raise the AMF's and add Special Assessments to the breaking point. He makes money if they pay, he wins if they don't.
The previous owner was a crook based on all I have read and in my not so humble opinion. He was letting the place slide and not maintaining etc also in my opinion. If he kept the place than I had no interest in keeping my unit long term. While I am a long ways from being in Ray's corner I can only imagine what he was promised when purchasing it out of bankruptcy, does not make what he has done right and he should have done more research prior to the purchase would be a guess having not taken part of that process. I still wonder what he was told and sold. Who were the talking heads in the process of selling it on Bankruptcy Auction, etc. That is the $17 million dollar question.
I wish the owners the best, loved my time there but have moved on.
Cheers, T
I prefer the Isle seat
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Re: Timeshare owners win over Alegria
[Re: SXMScubaman]
#226278
05/09/2020 12:46 PM
05/09/2020 12:46 PM
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Joined: Apr 2002
Posts: 5,917 New England (home), St. Maarte...
jmbcomms
Traveler
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Traveler
Joined: Apr 2002
Posts: 5,917
New England (home), St. Maarte...
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This is a step in the right direction, but unfortunately they HAVE NOT won yet. This is a recommendation by the Attorney General to the Supreme Court. It's the Supreme Court that will make the final decision late this Summer or early Fall. The headline is wrong on the story. I wish it were correct!
Jeff Berger Visiting SXM Since 1978
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