As I understand the case the old company got foreclosed on by the bank , went out of business and the bank auctioned the banks asset. A new company Alegria bought it in auction without any liability of the old bankrupt company and the bank cut it loss. Doesn't that happen all the time in the USA? To me the Timeshare owners should have been taking care of by the bank prior to any sale since they allowed the Timeshare sales. Isn't Timeshare just a long term lease at a preferred price? We have timeshare in Florida and it has paid off for us so far. Unfortunately SXM does need better laws to cover this.