# [2010] Fairmont Resort Properties Sale



## Hornet441

Received this in an email yesterday. I don't speak good "legaleze" but I read this to say Fairmont will remain affiliated with RCI. Anybody know if they will continue with II? I did not (nor do I want to) convert to RCI Points with my Riverside unit.

NOTICE


TO:                 TIMESHARE PURCHASERS 
                        (as defined in the Order of Madam Justice B.E.C. Romaine dated the 4th day of    June, 2010)


RE:                 In the Matter of the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36 and in the Matter of Fairmont Resort Properties Ltd., Lake Okanagan Resort Vacation (2001) Ltd., Lake Okanagan Resort (2001) Ltd. and LL Developments Ltd.

AND RE:       Application to approve sale between Fairmont Resort Properties Ltd. (“Fairmont”), Lake Okanagan Resort Vacation (2001) Ltd. (“LORV”), Lake Okanagan Resort (2001) Ltd. (“LOR”) and Northwynd Resort Properties Limited Partnership (“Northwynd”)


By Order of Madam Justice B.E.C. Romaine (“Justice Romaine”) dated April 27, 2010, the Court of Queen’s Bench of Alberta approved the acceptance by Fairmont, LORV and LOR of the offer made by Northwynd to purchase the Secured Assets (the “Sale”). The Order authorized and directed the parties to conclude the Sale, subject to Court approval. We are pleased to advise that the Sale has been concluded. As a result of the Sale, Northwynd will carry on the operation of the Fairmont Resort and the Lake Okanagan Resort and continue the existing affiliation with Resorts Condominiums International. Northwynd expects no change to the usage you enjoyed prior to the Sale.

An application seeking formal approval of the Sale shall be made before Justice Romaine on Tuesday, June 22, 2010 at 9:15 am at the Calgary Courts Centre, located at 601 – 5th Street S.W. Materials with respect to the application shall be posted on the website maintained by Ernst & Young Inc., in its capacity as the Court appointed Monitor of Fairmont, LORV and LOR. The website may be accessed at www.ey.com/ca/frpl.



Yours truly,



NORTHWYND RESORT PROPERTIES LIMITED PARTNERSHIP


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## keniebc

I hope they are refering to Lake Okanagan here.
We have a EOY prime and an annual golf prime at Hillside.
Last year they were telling us what a wonderful deal to switch from II to RCI.

All we had to do was pay them an $8k conversion fee.

What a joke.

I wouldn't mind picking up an annual Gold though.


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## Netgeek

*What BS!*

"Northwynd expects no change to the usage you enjoyed prior to the Sale"

Yeah, unless you are a Shuswap Lakes Resort Club houseboat timeshare owner.  Then you are left hanging high and dry while Northwynd decides how they can screw you best.

First Fairmont tried to double our maintenance fees because they are inept morons.  When a large number of owners bucked, then they cancelled our weeks for 2010 and 2011 with no explanation of what they intend to do in the future.

I trust Fairmont/Northwynd as far as I can throw their fat a$$e$ into Lake Okanagan.  The whole Creditor Protection thing was a sham!


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## Meow

*Defaults*

Our maintenance fees went up significantly at Fairmont Riverside/Hillside in 2010 because of the many defaults they are experiencing.  They stated they would put the delinquent accounts in the hands of a collection agency.  The way the lease is written, they do not seem to have that right.  The only consequence of a default in payment of maintenance fees is a suspension of use of your timeshare unit.  If the default is not remedied in 16 months then the developer has a right to buy back the timeshare unit according to a preset formula (Clause 13).  There is a risk that there will be a cascading of defaults as the maintenance fees increase to cover more deliquent accounts.  When will be the best time to bail out?


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## Netgeek

*Clause 13 review*

Hi Meow

I reviewed Clause 13 of our "Fairmont Vacation Experience Lease" and I can find no such reference to the Developer buying back the timeshare.  When did you purchase, and exactly what does your clause 13 state?


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## Meow

*Clause 13*

Our lease is dated May 11/02

13. DEFAULT OF THE LESSEE IN ANY PAYMENT REQUIRED UNDER THE LEASE: In the event that the Lessee should default in making any payment required to be made by the lessee hereunder, within the time stipulated for payment, then the Lessee agrees that the Lessee's right to occupy a Villa shall be suspended until such time as  all payments due have been duly paid.
In the event that default in payment is not remedied within 16 months from the date of such default, then the Lessee shall be deemed to have offered to sell the lessee's leasehold interest to the Lessor for an amount equal to 25% of:
(a)1/40 of the Purchase Price of an annual lease, or
(b) 1/20 of the Purchase price of a biennial lease;
each, as the case may be, multiplied by the number of lease years remaining in this lease, less all monies owing under the lease....... If the Lessor accepts the deemed offer.....Lessor shall be entitled to the Lessee's leasehold interest .........

I would jump at the opportunity to sell according to the above formula, but I am sure Northwynd (or whoever) has no interest in buying back any leases.


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## kevinjanny

We were told any contracts that were signed before northwynd took over are no longer in effect. Basically they can do whatever they want. Did anyone out there attend the "information session" offered at either lake okanagan or fairmont? Was it just a sales pitch for points? Any info as to what they are doing with the 2 new villas by the lake at lake okanagan? We aren't impressed with what's been happening and will not be spending any more to fund  a sinking ship.


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## kevinjanny

Forgot to add that even if they wanted to buy back leases, they probably wouldn't have the cash to do so anyway. Bought too many shabby resorts when the market was the highest and now would have to sell them at a loss. We would gladly sell as well, given the chance.


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## Meow

*Northwynd*

I'm glad to hear that Northwynd will not recognize lease contracts signed before they took over.  Therefore we can walk away at any time without being pursued by a collection agency.  Works for me.


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## Netgeek

*New contract*

Thanks, Meow.  The contract we signed in 2004 did not have that provision, it just stated that in the event of a default, Fairmont had the right to take the TimeShare back.  However, if you default, they have every right to turn the matter over to a Collection Agency.  You are then playing a dangerous game with your credit rating.  I got stuck with a nasty bill from a previous life and had a real scumbag agency chase me.  They harrassed my wife and I at all hours of the day and night and trashed my credit rating.  I finally paid just to get them off my back.

Kevinjanny, where did you hear that Fairmont contracts were null and void as far as Northwynd was concerned?  Meow is right, it just might be worth pursuing a walk away if they say that we have to sign new contracts.


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## Netgeek

*Validity of contracts*

Yep, they covered their hinies with a standard "successor" clause.  In our contract, this is clause 45

Enurment:  This Lease shall enure to the benefit of and be binding to the Lessor *and its successors* and assigns and the Lessee and its heirs, successors and permitted assigns.

Basically, this means that Northwynd becomes the new Lessor and you now have a binding contract with them.  As well, if you croak, they can come after your beneficiaries for the remainder of your Lease.

And again, they can definitely sic a collection agency on you for non-payment.


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## kevinjanny

We were told by owner services on our last trip to LOR a few weeks ago that the contracts we signed were not in effect anymore. Even the employees there really didn't know what was going on anymore.


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## RandRseeker

Meow said:


> I'm glad to hear that Northwynd will not recognize lease contracts signed before they took over.  Therefore we can walk away at any time without being pursued by a collection agency.  Works for me.



I hope not everyone feels they can walk away from their maintenance fees!! I for one enjoy my weeks at Fairmont and don't want to be stuck with massive maintenance fees because others feel they no longer need to pay.   I hope owners will think of the others that are affected by their actions when they refuse to pay their share.


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## kevinjanny

Our maintenance fees have already increased for this year in our three bedroom at lake okanagan to around $750. We have had quite a few great holidays/exchanges already. After all that has happened and the uncertainty surrounding the resort I think the time has come to walk away and buy somewhere else at a resale price. We won't be able to stay in the new building anymore, and the condition of the old 3 bedrooms is just not up to par.


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## LarryEdmonton

*Legal Obligation For Dues*

Interesting discussion.

Does anyone know of anyone or have person experience with a default on Maintenance Fees?


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## Meow

*New "One on One" Meetings*

Tonight I got a call from Northwynd to arrange a "One on One" meeting with them in their Calgary office.  The purpose of the meeting is to present an opportunity of great benefit to me.  I expect it is the same old offer of conversion to a deeded title and the RCI points program - perhaps at a reduced price.  Has anyone attended this new series of sales presentations?  When will these people just give up!


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## verby

MF invoice arrived today  
up again ???


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## LarryEdmonton

Up slightly.  And in my case did not show what I already paid


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## kenie

How much is "slightly"? We haven't received ours yet.

On the topic of deed backs or walking away from the fees, I had talked to a rep from Northwynd a couple of months ago and asked if they would take back one of our eoy weeks and was told they didn't want anything to do with Fairmont weeks. I asked him about the default clause in our contract(we don't pay for 16 months and they buy it back) and he didn't have an answer for that. I pointed out that if we followed our contract they would end up getting the week anyway so why not just take it back when the M/F was up to date. He just hummed and hawed and told me to call back in the spring because there policy my have changed by then. I don't have use of that week until 2013 so there is no rush, but......


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## Meow

The Hillside/Riverside maintenance fees went up 7.9% (after tax) but only 1.2% (before tax).  We have B.C.'s new HST to thank for that.  Too bad Bill Vandersam didn't get on the B.C. Government's case earlier.
We took our big hit on maintenance last year - almost a 20% increase!
Time will tell if Northwynd can turn things around at Fairmont.  It seems that they are serious about living up to their promise to establish a Homeowner's Association.  However, their organizational structure is a little scarry.  You have to be a Philadelphia lawyer to understand the complex relationship between all the entities involved.


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## joho

keniebc said:


> I hope they are refering to Lake Okanagan here.
> We have a EOY prime and an annual golf prime at Hillside.
> Last year they were telling us what a wonderful deal to switch from II to RCI.
> 
> All we had to do was pay them an $8k conversion fee.
> 
> What a joke.
> 
> I wouldn't mind picking up an annual Gold though.



Hi I have a unit at Hillside it is a2 bedroom lock-off sleeps 8,biannual odd, 
Season-golden .Has any one used TIMESHARESONLY LOCATED IN FLORIDA
They require $5oo.00 up front fee


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## verby

DO NOT send any $ upfront...  my advice.
In today's timeshare market, I don't think you can get even close to what you've paid.
just my 2c



joho said:


> Hi I have a unit at Hillside it is a2 bedroom lock-off sleeps 8,biannual odd,
> Season-golden .Has any one used TIMESHARESONLY LOCATED IN FLORIDA
> They require $5oo.00 up front fee


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## kenie

There is a real estate agent in the Invermere area who seems to have a few Fairmont listings. The Gold(summer) weeks Are worth something. Not a lot but something.
Do NOT pay anyone up front. Try and list it here. Or if you use it this summer, try and sell it while you're there.

I would be interested in a Gold, but I already have 3 eoy's at Hillside.

The Gold would be a great trader in II.


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## travel maniac

*Never Pay an upfront fee*

The rule of thumb on this board is when someone asks for an upfront fee, it's a scam.  Please browse through here and you'll find very useful info.


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## ogopogo3253

Meow said:


> The Hillside/Riverside maintenance fees went up 7.9% (after tax) but only 1.2% (before tax).  We have B.C.'s new HST to thank for that.  Too bad Bill Vandersam didn't get on the B.C. Government's case earlier.
> We took our big hit on maintenance last year - almost a 20% increase!
> Time will tell if Northwynd can turn things around at Fairmont.  It seems that they are serious about living up to their promise to establish a Homeowner's Association.  However, their organizational structure is a little scarry.  You have to be a Philadelphia lawyer to understand the complex relationship between all the entities involved.



We paid cash for a prime floating week and a leisure floating week at hillside in 1996. We tried to sell the prime last year and were told by florida timeshares that it was worth $26,000.00 when we talked to the supposed only RE agent in invermere he told us all we could get for our prime week was $2000.00 and that "he wasn't even supposed to be selling them". So do we kiss our money and TS goodbye? what bugs me is Joe Blow off the street can walk into the resort and rent a week for less than our maintainance fees. We dont want the shares anymore because by the time you pay the exchange fees, to go elsewhere, who can afford it. What to do , what to do, is anyone going to surrey next weekend?


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## DeniseM

Hi and welcome to TUG!

The person that told you that your timeshare was worth $26K was a scammer - they wanted you to pay a big upfront fee for them to sell your TS for $26K and then they would have ridden off into the sunset with your money.  We see it EVERY DAY.

The sad truth is that most timeshares are selling for 0-10% of retail these days, but that's a bitter pill to swallow and people don't want to accept it, so the fall for the scams.

Here's how to find out what your timeshare is selling for on the resale market

1)  Register with ebay
2)  Sign in
3)  Search for your resort by exact name
4)  From the menu on the left find the "Buying Formats" heading and click "choose more"
5)  On the next page click "completed listings"
6)  The next page will show you current selling prices
(Be sure you look at the completed listings - those are actually SELLING prices - you will find asking prices all over the place, but what really counts is what they actually sold for.)​
If you poke around a bit, you will see that there are more than 300 timeshares listed on ebay for $0-100 - most with no bids. Many people are having a hard time even giving away their timeshares these days.

If you discover that your TS has no resale value, it may be possible to give it away, if it is paid off, and all your fees are up to date.  *Let us know if you want more info. on that.*

On the other hand, if you don't have to get rid of this timeshare, we can definitely help you get more use out of it.  *Let us know if you want more info. on that.*


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## Meow

ogopogo3253 said:


> We paid cash for a prime floating week and a leisure floating week at hillside in 1996. We tried to sell the prime last year and were told by florida timeshares that it was worth $26,000.00 when we talked to the supposed only RE agent in invermere he told us all we could get for our prime week was $2000.00 and that "he wasn't even supposed to be selling them". So do we kiss our money and TS goodbye? what bugs me is Joe Blow off the street can walk into the resort and rent a week for less than our maintainance fees. We dont want the shares anymore because by the time you pay the exchange fees, to go elsewhere, who can afford it. What to do , what to do, is anyone going to surrey next weekend?



Before you decide to walk away from your timeshare weeks, get legal advice. You will be set upon by a collection agency and probably have your credit rating destroyed until you eventually pay up your outstanding maintenance fees.  The bottom line is you are stuck with the weeks until the 40 year leases run out or death , whichever first occurs.


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## abfrog

*Fairmont Mountain Side Villas*

Those 1.5 time shares we'd bought in 1988 have been good to us for a while.
However, for the past few years maintenance fees have increased beyond any explanation.
Digging a bit, we notice that incompetent and cupid individual(s) from Fairmont Villa Management keep sucking Those feeding them.
They also conveniently hide a recent take over from Northwynd, claiming that they have nothing to do with it.
We are consequently withholding payment of our Maintenance fees for 2011, and seriously consider to bail out.


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## holyschmoly

Just found this forum and this thread after doing a bit of googling.  I was contacted by Northwynd and have tentatively scheduled an appointment to meet with one of their reps.  I'm sure it's going to be a sales pitch of some sort, but the reason I agreed to meet with them is so I can ask them some questions to find out what changes or modifications to the terms of the contract I signed with Fairmont have been implemented since their take over of the resort and also, what changes I can expect in the future.

If some of you were going to this meeting, what questions would you ask?  What areas of concern or issues would you bring up and express and inquire them on?


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## kenie

Do not agree to anything that costs you more money.
If they want you to convert to points, DO NOT DO IT!!!!!!!


They wanted $8ooo to convert our floating weeks to points.
The points can change over time, The week will stay the same.
And right now with the prices on timeshares and getaways and rentals, you can do a lot with the money they will want you to spend.

Nothing really seems to have changed since the switch to Northwynd.


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## holyschmoly

kenie, thank you for your prompt reply.  So, about the only thing I should be aware of how they will try to ask for money from us while trying to have us convert to RCI points?

What do they want that is of ours to convert to RCI points?  Thanks.


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## kenie

From us they wanted $8000 to convert our 3 eoy weeks to points.  

If we wanted points we would pick up something on Ebay for free....

We saw zero benefit to what they were offering under the "Legacy for Life" program. We like Fairmont but we purchased from the developer before we knew better and have no interest in getting screwed twice..


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## Meow

The ill effects of the RCI relationship are starting to take effect.  I tried to re-book one of my favorite units for Week 34 next year.  I was clearly adivised that I could not make the booking before 8:00 AM this Monday (one year in advance for this Monday to Monday unit).  I called right at 8:00 AM - I was probably the first call that morning.  I was surprised to hear the unit was already gone.  "How could that be?" I asked. "The unit couldn't be booked before 8:00 AM!"  "Lee's" response was that the unit was already given over to RCI.  She admitted that it will get worse as more people are 'brow-beaten' (my words not hers) into joining the RCI Points System.  
I believe Northwynd are beginning to breach some of good faith terms of the lease. Given time I'm sure they will we have enough grounds to walk away with impunity, if we so wish.


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## Hugh002

*Deceased Time Share owner*

Can someone tell me if a time share owner is deceased, should we just let the property go? There is nothing owing on the timeshare and it's one of those bi-annual timeshares ( a week - every other year). I don't know that it's even worth trying to sell it. It was bought in 2000 so way before the recent takeover by Northwynd. Just want to make we sure we don't need to do anything with it. There is nothing currently owing on it. I"m thinking we just let it go...


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## LarryEdmonton

Read the other thread.   With a new assessment you probably can't give it away 

This is a legal issue discussed elsewhere in Tug.


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## Scammed22

*Sunchaser Villas is this a Scam?*

.................................


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## icequeen59

*|||Disgusted with Northwynd!*

i imagine by now all of you have received your bill from fairmont for the renos. Ours was 6200! To cancel would cost us more. We don't know what to do as we just do not have that kind of money! And yes we could pay the 100 a month.. but what next year its the same thing... more money?  We want out and there doesnt seem to be a way out. Any suggestions?


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## Undecided62

There's another Thread titled "[2012] New program coming for fairmont, BC 2013?"  There are people that are seeking legal help from lawyers in BC to represent them in an upcoming court hearing.  But I doubt that hearing will be the last one.  Unfortunatley, we're in the same position.  We're frustrated, don't have the available money to pay out their apparent intimindation tactics and we sure don't feel like sticking around and continuing to pay the rising yearly fees.


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