# Grand Cayman Indies Suites



## Bootser (Dec 14, 2006)

I found this article concerning the Indies Suites in Grand Cayman. I was checking into the general status since about 2 years ago I had a trade into the resort and was canceled out due to the hurricane.
Reading the article about the sale of Indies Suites is a stark reminder of the risks in owning a timeshare in the caribbean.
I searched the TUG forums for threads that might have discussed the event, but didn't find anything. 

http://grandcaymantimeshare.com/indiessuites.htm


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## somerville (Dec 14, 2006)

I recall that there was some discussion at the time.  I kept track of the events, as I own a Grand Cayman timeshare.  Recently, owners of the Divi Resort on Cayman Brac found that their timeshare was being sold out from under them.  At least they are being offered intervals at other Divi resorts.  The Cayman Island government does not offer much protection to timeshare owners, and I would think twice before buying another timeshare there.


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## Carolinian (Dec 15, 2006)

It is not just in the Caribbean that resorts get sold out from under owners.
There is a report in Street Talk of that happening at a deeded resort in St. Petersburg Beach, Fla.  Apparently management failed to pay taxes for three years and the tax collector sold the property at the courthouse door.

I wonder if they also forgot to pay their directors liability insurance, too, as it would appear they may well need that now!


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## JMSH (Dec 15, 2006)

I read the article and Mr. Foster is somewhat a dufus or a very slick business man. I am confident that he knows very well that he was underinsured and did not want to pay the premium that it would have taken to properly insure to full replacement cost. He now pleads ignorance to any insurance matters as I can gurantee any insurance agent/broker/ or claim representative explained co-insurance prior to the loss and at various times over the past 13 years. A classic storey.


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## shar (Dec 28, 2006)

We were in GC last January 2006 and saw the University now on the site of the Indies Suites. We had stayed there several years before and it seemed strange seeing a school instead of a resort. So sad for the owners and so glad we did not purchase there.

Shar


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## wekker (Jan 22, 2007)

*It still hurts*

As an owner of Indies Suites, it still hurts to see the photos of the old Indies now part of the University.  We used to sit at that bar and hang out at that pool and now we have nothing.  It was such a shame and we miss Indies so much.


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## anne1125 (Jan 22, 2007)

Wekker, did you get any compensation for the loss?

Anne


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## wekker (Jan 23, 2007)

Yes, I believe all owners who were part of the lawsuit received some money back but nothing near what we paid for it.


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