[ 2012 ] Fairmont / Sunchaser / Northwynd official thread with lawsuit info!

[Ohnoyoudont]

The Lawyers Insurance Fund manages the Law Society’s insurance program for BC lawyers.

We are 14 lawyers, a paralegal and 6 administrative assistants, dedicated to maintaining the program’s exemplary standards and achieving exceptional results for our insured lawyers. The majority of our work involves claims-handling in relation to the negligence claims and potential claims lawyers report under the program’s professional liability insurance. Ten of our lawyers act as Claims Counsel, investigating and managing claims, in relation to the 1,000 or so reports we receive each year.

Coverage and underwriting
We evaluate the risk of paying claims under the policy on behalf of the lawyers we insure. Through accurate and comprehensive claim file statistics and payment information, we monitor trends and specific risks. We keep a close eye on legal and other developments that may create new liability exposure for lawyers. We give lots of information about the scope and limits of our insurance coverage, so lawyers understand how coverage operates and when they may need to buy additional insurance on the private market.

Risk management
We help lawyers protect themselves from the risk of a negligence claim. With our unique position as the single insurer for all lawyers in the province, we have detailed information relating to every matter reported since 1986. That data, as well as our ongoing monitoring and analysis of specific risks, allows us to publish and speak to lawyers on how to practice safely.

Fraud prevention
Fraud prevention services help lawyers protect themselves from becoming the tool, dupe or victim of a fraudster. We know the risks to lawyers of a real estate or promoter fraudsters using a lawyer to facilitate their scheme. We also know that lawyer's trust accounts have become the targets of other fraudsters through stings such as the 'bad cheque' scam. We alert the profession to new frauds we discover, and offer a wealth of tips to help lawyers manage the risk.

Compensation program for lawyer theft
We also manage the Law Society's compensation program for lawyer theft. As the Law Society uses its own captive insurance company to underwrite the risk and pay claims, the program has full control over claims and coverage. This ensures that we are able to implement initiatives designed to respond to the needs of BC lawyers, as directed by the Benchers.

Mission Statement
The Lawyers Insurance Fund protects the profession and the public from the risks associated with the practice of law by providing high quality professional liability and defalcation insurance. We draw on our knowledge and skill as experienced lawyers in providing claims and risk management, and underwriting services. Our professional and cost-effective services have been recognized as a best practice model for other professional liability insurance programs worldwide.


1 604 605-5373

 

[NotWhatIPaidFor]

So, this settlement doesn't release people from NM? They can still come back at you for any funds they want or dream up in the future?

 

[NotWhatIPaidFor]

Thank you Spark1. The RCMP is the way to go. Maybe the apeal amounts to something but otherwise I think you're bang on. If you want to meet in person I'd be happy to.

 

[fairmontlovers]

Just to clarify on point 4. Farimont did not go into bankruptcy as a result of maintenance concerns at our property. They went bankrupt as a result of setting up FRPL finance company that had the vision of expanding the timeshare model of Fairmont at other places such as Hawaii, Belize, Mexico etc. They offered bonds at 12% interest. When the economy and plans started going not as expected they could not fulfill the obligation to these bondholders. These bondholders formed a company to get their money back, thus Northmount or Northwynd came into the picture. Many of the investors were part of the original Fairmont group and as a result this is why the same people were given positions of the new company after bankruptcy. With the new company they could place blame on the previous company and start making excuses about poor maintenance and the need of upgrades. KW comes along and has a vision as to how to get the bondholders their money. Bingo, the renovation project. It should be noted that those that paid to leave the money did not go back into the resort. The funds from this went to the bondholders, just as I suspect much of the money they acquire from this court ruling will go back to the bondholders and not back into the resort.
http://frplfinance.blogspot.ca/

Further to this, from the link to the creditor list during the bankruptcy proceedings. The total amount from the debitor list is 19.6 million. Which includes FRPL 10 million, and a few notable names, Colin Knight 2.87 million, Dunvegan & Dunvegan Petroleum 2.3 million ( same address as given as for Colin Knight). A lot of small businesses in the Invermere/Fairmont area are also listed.
FRPL would consist of the bondholders. It would be interesting to see how many claimants on the debitor list were paid up or offered shares in Northmount/Northwynd. Hypothetically, Colin Knight could be still a part of this whole thing.

http://documentcentre.eycan.com/eyc...t Properties Ltd/FRP - Bankruptcy Package.pdf

 

[CleoB]

Just to clarify on point 4. Farimont did not go into bankruptcy as a result of maintenance concerns at our property. They went bankrupt as a result of setting up FRPL finance company that had the vision of expanding the timeshare model of Fairmont at other places such as Hawaii, Belize, Mexico etc. They offered bonds at 12% interest. When the economy and plans started going not as expected they could not fulfill the obligation to these bondholders. These bondholders formed a company to get their money back, thus Northmount or Northwynd came into the picture. Many of the investors were part of the original Fairmont group and as a result this is why the same people were given positions of the new company after bankruptcy. With the new company they could place blame on the previous company and start making excuses about poor maintenance and the need of upgrades. KW comes along and has a vision as to how to get the bondholders their money. Bingo, the renovation project. It should be noted that those that paid to leave the money did not go back into the resort. The funds from this went to the bondholders, just as I suspect much of the money they acquire from this court ruling will go back to the bondholders and not back into the resort.
http://frplfinance.blogspot.ca/

Don't be so sure about that. I've heard the shareholders are going to get a penny.....so where will the money go then?

 

[Shake Down]

I wonder what resort is next on the hit list?
Sunchaser and back in 2007 Rancho Banderas Resort, Mexico they raised assessments by over 200% even though the owners had contracts that state assessments may not be raised by more than 15% The company scammed owners out of rental weeks and resold units that persons have forfeited. Northwynd Resort Properties and Fairmont Resort Properties were accused of using assessment money to fund new construction projects.

It will just continue to happen, they found a loop hole in the system - after all it’s a Money Monster!

 

[Ultimate_Betrayal]

The Lawyers Insurance Fund manages the Law Society’s insurance program for BC lawyers.

We are 14 lawyers, a paralegal and 6 administrative assistants, dedicated to maintaining the program’s exemplary standards and achieving exceptional results for our insured lawyers. The majority of our work involves claims-handling in relation to the negligence claims and potential claims lawyers report under the program’s professional liability insurance. Ten of our lawyers act as Claims Counsel, investigating and managing claims, in relation to the 1,000 or so reports we receive each year.

Coverage and underwriting
We evaluate the risk of paying claims under the policy on behalf of the lawyers we insure. Through accurate and comprehensive claim file statistics and payment information, we monitor trends and specific risks. We keep a close eye on legal and other developments that may create new liability exposure for lawyers. We give lots of information about the scope and limits of our insurance coverage, so lawyers understand how coverage operates and when they may need to buy additional insurance on the private market.

Risk management
We help lawyers protect themselves from the risk of a negligence claim. With our unique position as the single insurer for all lawyers in the province, we have detailed information relating to every matter reported since 1986. That data, as well as our ongoing monitoring and analysis of specific risks, allows us to publish and speak to lawyers on how to practice safely.

Fraud prevention
Fraud prevention services help lawyers protect themselves from becoming the tool, dupe or victim of a fraudster. We know the risks to lawyers of a real estate or promoter fraudsters using a lawyer to facilitate their scheme. We also know that lawyer's trust accounts have become the targets of other fraudsters through stings such as the 'bad cheque' scam. We alert the profession to new frauds we discover, and offer a wealth of tips to help lawyers manage the risk.

Compensation program for lawyer theft
We also manage the Law Society's compensation program for lawyer theft. As the Law Society uses its own captive insurance company to underwrite the risk and pay claims, the program has full control over claims and coverage. This ensures that we are able to implement initiatives designed to respond to the needs of BC lawyers, as directed by the Benchers.

Mission Statement
The Lawyers Insurance Fund protects the profession and the public from the risks associated with the practice of law by providing high quality professional liability and defalcation insurance. We draw on our knowledge and skill as experienced lawyers in providing claims and risk management, and underwriting services. Our professional and cost-effective services have been recognized as a best practice model for other professional liability insurance programs worldwide.


1 604 605-5373

https://www.lawsociety.bc.ca/suppor...ntact-us/contact-us-by-types-of-inquiries-en/

Some of the people that work there:
Kaflin Lee who is the Senior Assistant to Susan Forbes, QC (Director of Insurance)

Kaflin’s # 604-605-5326

 

[MgolferL]

Is there update on this?

http://documentcentre.eycan.com/eyc...Ninth Stay Extension, sworn June 16, 2010.pdf

I posted these links yesterday. These are the links to the bankruptcy proceedings by Fairmont and the monthly reports they had to file. Things like the manager making 30K per month (25while the proceedings were underway) for example may have been the root of the problems. There is also info about NM taking the place over.

Once again go to
http: documentcentre.eycan.com
Scroll down and you will see Fairmont
Click on that and when you go to that page... search Moore and presto... how this whole mess started.

 

[Frustrated fairmont]

Hey UB, I've missed the significance of after March 1st, how is that the likely timeframe?

Because we have to submit payment to MG on Feb 15 and he will submit to Northmont on Feb 28. One day later they see the judge ????? Seem fishy to me. A little late for anything to change for those that chosenoption 1.

 

[Jack0123]

I would be willing to sign up for that $100 a month payment plan. I did not know that "as legal experts figure out who's right, owners with outstanding accounts are being charged interest by the property management company". Don't remember MG ever telling us that.
https://www.columbiavalleypioneer.com/news/court-appeal-doesnt-deter-sunchaser-property-owners/

You would think the lawyer acting of behalf of the timeshares would have advised the clients there was a payment arrangement

 

[teedeej]

I would agree with that. Items could include:
1. Told us not to pay anything. If we had at least paid the money in trust the interest would have stopped.
2. Supplied fragmented, incomplete information throughout the process.
3. Did not allow us to see the "negotiated" agreement and vote on it.
4. Imposed an unrealistic time-frame in which to interpret the agreement.
5. Agreed to an unrealistic time-frame to complete the agreement.
6. Dropped the appeal. Without agreement from the group.
7. Not responding to clients.
8. Ignored advice throughout the process.

Any more?

9. Kept his clients in the dark about his strategy as he didn’t want his plans “leaked” to Northmont

 

[Ultimate_Betrayal]

So, this settlement doesn't release people from NM? They can still come back at you for any funds they want or dream up in the future?

Only if Michael at Geldert Law doesn't screw up or leave the country with a cool $45,000,000.

Both scenarios seem plausible - defiantly given it's a one man band and we have all been maneuvered by him that it has to be done this way for an additional $250 ea.

That in itself is a cool $320,000 signing bonus for Michael and his wife Patricia.

Pretty scary given there is no over site and has he actually done anything correctly lately for his clients?

 

[Petus@18]

If anyone knows of a good lawyer that could help us right now, but cannot afford the retainer, please let us know. We may want to form a small group and help each other pay his/her legal fee! FYI, Strathcona Group has filed a notice to withdraw as our attorneys on record regarding the civil claims yesterday.

 

[truthr]

On CTV tonight click on the link

https://calgary.ctvnews.ca/mobile/video?clipId=1312683

 

[Ohnoyoudont]

Did everyone send to Service B.C.? What a copout by Service A.B. I'm impressed that it finally got on CTV great job everyone! BUT LET IT BE KNOWN I DID NOT AGREE TO ANY REPAIRS NEEDED(IN THE MILLIONS) IN MY INITIAL CONTRACT LIKE THE NM SPOKESMAN STATED. I AGREED TO A MAINTENANCE FEE THAT WAS GROWING TO 1000.00 A YEAR AND I PAID IN FULL. FAKE NEWS IN CANADA BEING LEAKED TO CTV, CROOKS!

 

[ecwinch]

On CTV tonight click on the link

https://calgary.ctvnews.ca/mobile/video?clipId=1312683

Excellent job creating additional awareness of the problem!

 

[FairSun]

So, this settlement doesn't release people from NM? They can still come back at you for any funds they want or dream up in the future?

I recommend you talk to Michael Geldert if you signed Option 1. I am 100% confident that complying with the steps he has outlined by the deadline DOES secure us a full release.

 

[Bewildered]

If anyone knows of a good lawyer that could help us right now, but cannot afford the retainer, please let us know. We may want to form a small group and help each other pay his/her legal fee! FYI, Strathcona Group has filed a notice to withdraw as our attorneys on record regarding the civil claims yesterday.

Those that choose option #1 are screwed. My lawyer has told me that the settlement that Geldert signed on your behalf is final, interest and all.

Exactly what I was told, Option 1 peoples bill is what MG sent you, but additionally he also said the release is weak. Can you imagine, MG the timeshare lawyer expert has a release that may not be strong enough to ensure we are truly out! Anybody else get this opinion, if so anyone in option 1 needs to phone MG and demand why this release is not 110% foolproof!!!

 

[FairSun]

You would think the lawyer acting of behalf of the timeshares would have advised the clients there was a payment arrangement

That $100/month payment was offered by NM to those who chose "Pay to stay" and opted to pay that nearly $4100 reno fee. It had nothing to do with Michael Geldert.

 

[Bewildered]

So, this settlement doesn't release people from NM? They can still come back at you for any funds they want or dream up in the future?

I recommend you talk to Michael Geldert if you signed Option 1. I am 100% confident that complying with the steps he has outlined by the deadline DOES secure us a full release.

Why are you 100% confident, did you get a legal opinion, it’s just a release from Northmont, how about all it’s subsidiaries, employees, etc not named??? I hope your right fairsun but I wpould like hear your proof as MG hasn’t quite got my confidence at the moment.

 

[FairSun]

Excellent job creating additional awareness of the problem!

Canadian laws and regulations governing the timeshare industry will ultimately be changed thanks in large part to those of us who stood up to Northwynd and brought this situation to light!

 

[marcthe12]

Just to clarify on point 4. Farimont did not go into bankruptcy as a result of maintenance concerns at our property. They went bankrupt as a result of setting up FRPL finance company that had the vision of expanding the timeshare model of Fairmont at other places such as Hawaii, Belize, Mexico etc. They offered bonds at 12% interest. When the economy and plans started going not as expected they could not fulfill the obligation to these bondholders. These bondholders formed a company to get their money back, thus Northmount or Northwynd came into the picture. Many of the investors were part of the original Fairmont group and as a result this is why the same people were given positions of the new company after bankruptcy. With the new company they could place blame on the previous company and start making excuses about poor maintenance and the need of upgrades. KW comes along and has a vision as to how to get the bondholders their money. Bingo, the renovation project. It should be noted that those that paid to leave the money did not go back into the resort. The funds from this went to the bondholders, just as I suspect much of the money they acquire from this court ruling will go back to the bondholders and not back into the resort.
http://frplfinance.blogspot.ca/

Exactly

 

[FairSun]

Why are you 100% confident, did you get a legal opinion, it’s just a release from Northmont, how about all it’s subsidiaries, employees, etc not named??? I hope your right fairsun but I wpould like hear your proof as MG hasn’t quite got my confidence at the moment.

Just my opinion after discussing this at length with MG. I view going this route at this point is far less risky than trying to negotiate a better deal with KW that gets me out of our contract. Last March we rolled the dice and continued fighting for what my husband and I believed was right, fair and just. Double or nothing, as it turned out. We pay double because of even more court decisions against our position. I firmly believe KW and NM will not give any of us a better break. Right or wrong, I am not taking any more chances with our limited finances.
Each of us has to come to terms in our own way with this ghastly situation. We each have to live with our decision. I respect anyone who seeks their own path here, no matter how different from mine. After countless sleepless, anxious nights; searching and surfing for hours on end; scouring and analyzing every related document I could find; my husband and I have concluded Option 1 is our best option.

 

[Misled]

Just my opinion after discussing this at length with MG. I view going this route at this point is far less risky than trying to negotiate a better deal with KW that gets me out of our contract. Last March we rolled the dice and continued fighting for what my husband and I believed was right, fair and just. Double or nothing, as it turned out. We pay double because of even more court decisions against our position. I firmly believe KW and NM will not give any of us a better break. Right or wrong, I am not taking any more chances with our limited finances.
Each of us has to come to terms in our own way with this ghastly situation. We each have to live with our decision. I respect anyone who seeks their own path here, no matter how different from mine. After countless sleepless, anxious nights; searching and surfing for hours on end; scouring and analyzing every related document I could find; my husband and I have concluded Option 1 is our best option.

Well do what you want they are all feeding from the trough ! Extorting $$ and our hard earned $$ at that and realize it’s after tax $$ they are getting
It does not pass the smell test
But hey do what you want
Remember Power coruptes and absolute power corrupts absolutely
They are not nice people the whole lot of them !

 

[Bewildered]

Just my opinion after discussing this at length with MG. I view going this route at this point is far less risky than trying to negotiate a better deal with KW that gets me out of our contract. Last March we rolled the dice and continued fighting for what my husband and I believed was right, fair and just. Double or nothing, as it turned out. We pay double because of even more court decisions against our position. I firmly believe KW and NM will not give any of us a better break. Right or wrong, I am not taking any more chances with our limited finances.
Each of us has to come to terms in our own way with this ghastly situation. We each have to live with our decision. I respect anyone who seeks their own path here, no matter how different from mine. After countless sleepless, anxious nights; searching and surfing for hours on end; scouring and analyzing every related document I could find; my husband and I have concluded Option 1 is our best option.

Not questioning your reasons just questions being 100% sure because MG told you. MG being 100% anything other than being 100% wrong so far scares me.