Timeshare owners win over Alegria

https://stmaartennews.com/legal-mat...dSq5lYAebegvugtfI9q12AU0ZgZCJ0Hk5xgTJYZs

I'm not so sure according to the date mentioned in March.

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.

He will not leave .

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

Thanks for your comments and currently he is expanding the place very big to be called Morgan Resorts .

I had a third floor 2 bedroom Ocean front Unit.The place was never finished.I lost $15,400. Got to stay there about 4 times

Well, hundreds of people have lost mega thousands of dollars ... both those who stayed to fight and those who walked away. So sad, but this is a well-written article. Case history made in real time even if it took more than five years.

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!

I said so too. Long process indeed.

I remember a few years ago in the boarding area at PJIA hearing a man and his wife discussing there purchase and happy they were. It was before the hurricane and when Marty had a bar there we went to see. At the same time I recall learning about Caravanserai/Algeria here on TTOL and knowing how things weren’t so great in doggy land.

I can still picture his face and thrill at the good deal he kept talking about.