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#36169
01/25/2015 06:10 PM
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Joined: Apr 2002
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Jeff Berger
Visiting SXM Since 1978
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Joined: Nov 2002
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As I have said before, if they "bought" in 2013 they didn't do their due diligence. The old Caravanseri was at their height of problems at that date.
SXM??? Wendell
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But Jennifer Leach, the assistant director of the Consumer Protection Bureau at the Federal Trade Commission (FTC) warns,
“Americans who sign up for international timeshares are not protected by U.S. law.”
For any timeshare arrangement, Leach recommends that you check out any complaints against the company at local attorney generals’ offices, make sure you can afford every penny, especially the annual fees, and never trust oral promises. Above is a brief snippet from the article. While I have sympathy for the people that got taken, Wendell is correct and the statement by Jennifer Leach speaks volumes.
J.D.
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Joined: Jun 2014
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Timeshare legislation is long overdue in Saint Marten.
At present their is a U.S. entity operating on Island being investigated by at lease a dozen State A.G.'s for wrongdoing in their U.S. operations.( A Google search is invaluable.) One State suggests that they will seek $20 Mil.in damages from this particular entity. I'm not sure if the case has been settled yet.
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The Caravansari was a bankruptcy case. After bankruptcy, all old contracts are out. Not government changes in the law about timeshares can change that here or in the US.
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"Changes in the law" is their a law?
In SXM? What the A.G. Is investigating is more broad than bankruptcy.
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Might want to learn how to use their and there. <img src="http://www.traveltalkonline.com/forums/images/graemlins/handshake.gif" alt="" />
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Joined: Jun 2014
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I apologies profusely, grade me 10-.professor.
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All right, let's move on.
Carol Hill
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soualigacapt said:
The Caravansari was a bankruptcy case. After bankruptcy, all old contracts are out. Not government changes in the law about timeshares can change that here or in the US. It wasn't dissimilar to what happened at SBR (Pelican) and those contracts were honored. It's not unusual that the new owner would have to honor prior contracts.
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WWII said:soualigacapt said:
The Caravansari was a bankruptcy case. After bankruptcy, all old contracts are out. Not government changes in the law about timeshares can change that here or in the US. It wasn't dissimilar to what happened at SBR (Pelican) and those contracts were honored. It's not unusual that the new owner would have to honor prior contracts. What law or who is going to enforce this?
J.D.
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