chazpbg
TUG Member
I own at Rayburn Country Club in Texas. They let us know this week that they're beginning the bankruptcy process (RCI also let us know that they were "suspended" from the system -- at least for now.) Resort said they hope to reorganize as a smaller resort and come back to life, but it will be up to the courts to work this out.
Any idea what this means? I gather resort is not planning on sending bills for 2020 maintenance fees -- at least for now. I'm kinda hoping I'm done with this resort even if they can come back to life, but could they come back and make us pay more and/or recover the 2020 maintenance fees? How long does the process typically take to sort this out?
Or is it possible they could come back with a new owner and things might be better -- meaning our fees would be lower and/or we might get more points? I kinda doubt that, but curious what others might have to say in terms of how this could play out...
Any idea what this means? I gather resort is not planning on sending bills for 2020 maintenance fees -- at least for now. I'm kinda hoping I'm done with this resort even if they can come back to life, but could they come back and make us pay more and/or recover the 2020 maintenance fees? How long does the process typically take to sort this out?
Or is it possible they could come back with a new owner and things might be better -- meaning our fees would be lower and/or we might get more points? I kinda doubt that, but curious what others might have to say in terms of how this could play out...