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

[Ultimate_Betrayal]

Well I had a very pleasant email this afternoon from the lawyer who is investigating the complains filed with the BC Law Society related to the conduct of Michael Geldert and just wanted to let everyone know who filed a complaint to probably expect an email from them.

In the event you have changed email addresses you may want to get in touch with the Law Society to have them update your contact info as I think there was a lot of us who made complaints.

What they are looking for will be a lot of work but I believe this is just part of the validation / documentation process to assist in substantiating our claims made in the complaints we submitted.

Either way there is now some personal lawsuits (believe 6) already before the courts where Michael lost the ruling to move them out of small claims, a potential class action being worked on, and now finally some feedback from the BC Law Society.

My day just got brighter but now I have lots of work to do

 

[Doug]

Not sure where to post, new to this. But I received a email this morning from Sunchaser stating effective immediately they have withdrawn from RCI points and all the points I accumulated in 2019 and 2020 have been canceled. No one answering the phone today.
I tried to cancel my trip to Vegas yesterday to get at least a partial refund on the trip but was told my account has been blocked since Nov. 27, 2019.

Anyone else experienced this?

Sent from my SM-N975W using Tapatalk

 

[LilMaggie]

Well I had a very pleasant email this afternoon from the lawyer who is investigating the complains filed with the BC Law Society related to the conduct of Michael Geldert and just wanted to let everyone know who filed a complaint to probably expect an email from them.

In the event you have changed email addresses you may want to get in touch with the Law Society to have them update your contact info as I think there was a lot of us who made complaints.

What they are looking for will be a lot of work but I believe this is just part of the validation / documentation process to assist in substantiating our claims made in the complaints we submitted.

Either way there is now some personal lawsuits (believe 6) already before the courts where Michael lost the ruling to move them out of small claims, a potential class action being worked on, and now finally some feedback from the BC Law Society.

My day just got brighter but now I have lots of work to do

I’m still waiting for that email.
Is there anything we can do to help this process?? I think many of us have been waiting for someone to listen to our concerns for years!

 

[LilMaggie]

I believe that Sunchaser has sold off the old “Hillside” villas.
You are certainly correct Tacoma, that no upgrades or obvious renovations have been completed. The villas are for sale or you can reserve a suite like you would a hotel room. I went to the Sunchaser check in office in January 2020 to ask how to check into the new so-called Mountain View Villas and the ladies at the desk seemed to have no idea where/what I was talking about. I said it’s the old Hillside villas that were a part of Sunchaser...still crickets...anyone know if Sunchaser sold off Hillside and for how much? I can’t remember if that was ever part of the resort restructuring plan. Probably...

 

[Tanny13]

Has anyone received any kind of information re the current virus situation, cancellations, etc. re Fairmont? Does anyone even have any reservations?

 

[truthr]

 

[Ultimate_Betrayal]

Truth - this is horrible

Hearing this makes me ill for the people that Geldert forced into a closed door settlement with Northmont based on his unapproved negotiations that didn't accept his inflated ransom if my math is even close to correct.

So to keep this simple and non adjusted, what is happening is lets say the maintenance fee is $1,200 year 1 and you finally settle with Northmont about 4 years later but never payed your new maintenance fees in 2017, 2018, 2019, 2020 so very simply the cost to settle may look something like this:
(just guessing at what the maintenance fees are but they were going up every year when I was there so I just kept the going up with nothing being paid year over year)
Year 1 after consent judgement $1,200 maintenance fee (plus year 1 interest (26%) $312 +year 2 interest $312 + year 3 interest $312 = year 1 total $2136
Year 2 after consent judgement $1350 maintenance fee (plus year 2 interest (26%) $351 + year 3 interest $351 = year 2 total $2052
Year 3 after consent judgement $1425 maintenance fee (plus year 3 interest (26%) $370 = year 3 total $1795
Now you decide to settle with Northmont directly and they offer you a release for $2,500 (# pulled out of the air) plus you must bring your account up to date which includes another year of maintenance $1500 so you settle thinking you got a deal and are in the clear for $9,983 (2136 + 2052 + 1795 + 2500 + 1500) when you are thinking this also includes the Geldert negotiated settlement of $24,000 (again just a guess).

Then along comes someone like Francois Sauvageau & Associates who got, bought, or maybe even settled with Northmont for the consent order debt as they did do all the work for Northmont and already have extensive files on all of us who now takes the $24,000 Geldert arranged consent judgement and as they are in the business of debt collecting easily puts a lien on your property or estate which needs to be satisfied 1st before disbursements of funds can occur so the money you think you have is just gone.

In the same 4 years it took to finally settle with Northmont this $24,000 is now stewing in the background but is something like $42,000 (basically at the completion of every 4 years the initial debt doubles because of the 26% interest which we are going into now but the overall total compounds so in 10 years to something like $86,400 and is 100% legal).
(26% consent interest, year one interest on $24000 - $6240 + year two interest $6240 + year three interest $6240 + ...)

There is no incentive for a debt collector to inform anyone of this debt - it is already approved by the courts and were else can you invest and get guaranteed returns of 26% annually. All you need to do is watch and wait to ensure a lien is put on at the right time and with a consent judgement in place there is nothing else needed legally required just patients (and the more of them you have the better the return).

This is truly terrible!!!

I hope this is not correct

 

[truthr]

Truth - this is horrible

Hearing this makes me ill for the people that Geldert forced into a closed door settlement with Northmont based on his unapproved negotiations that didn't accept his inflated ransom if my math is even close to correct.

So to keep this simple and non adjusted, what is happening is lets say the maintenance fee is $1,200 year 1 and you finally settle with Northmont about 4 years later but never payed your new maintenance fees in 2017, 2018, 2019, 2020 so very simply the cost to settle may look something like this:
(just guessing at what the maintenance fees are but they were going up every year when I was there so I just kept the going up with nothing being paid year over year)
Year 1 after consent judgement $1,200 maintenance fee (plus year 1 interest (26%) $312 +year 2 interest $312 + year 3 interest $312 = year 1 total $2136
Year 2 after consent judgement $1350 maintenance fee (plus year 2 interest (26%) $351 + year 3 interest $351 = year 2 total $2052
Year 3 after consent judgement $1425 maintenance fee (plus year 3 interest (26%) $370 = year 3 total $1795
Now you decide to settle with Northmont directly and they offer you a release for $2,500 (# pulled out of the air) plus you must bring your account up to date which includes another year of maintenance $1500 so you settle thinking you got a deal and are in the clear for $9,983 (2136 + 2052 + 1795 + 2500 + 1500) when you are thinking this also includes the Geldert negotiated settlement of $24,000 (again just a guess).

Then along comes someone like Francois Sauvageau & Associates who got, bought, or maybe even settled with Northmont for the consent order debt as they did do all the work for Northmont and already have extensive files on all of us who now takes the $24,000 Geldert arranged consent judgement and as they are in the business of debt collecting easily puts a lien on your property or estate which needs to be satisfied 1st before disbursements of funds can occur so the money you think you have is just gone.

In the same 4 years it took to finally settle with Northmont this $24,000 is now stewing in the background but is something like $42,000 (basically at the completion of every 4 years the initial debt doubles because of the 26% interest which we are going into now but the overall total compounds so in 10 years to something like $86,400 and is 100% legal).
(26% consent interest, year one interest on $24000 - $6240 + year two interest $6240 + year three interest $6240 + ...)

There is no incentive for a debt collector to inform anyone of this debt - it is already approved by the courts and were else can you invest and get guaranteed returns of 26% annually. All you need to do is watch and wait to ensure a lien is put on at the right time and with a consent judgement in place there is nothing else needed legally required just patients (and the more of them you have the better the return).

This is truly terrible!!!

I hope this is not correct

Thanks for responding to my video Ultimate Betrayal.

Just to be clear on a couple of points:

One - this affects not only those who were in "Option 1" - the closed door settlement who did not pay and have a consent judgment filed against them, but also anyone who was a Geldert client who had not settled and been properly released prior to the BC Consolidated Supplementary Decision of Justice Branch and the AB Consolidated Supplementary Decision of Judge Young.

If you are still receiving statements from the resort that means you have not been released and if the amount owing on the statement has lowered, that is the red flag that your debt (which is probably registered with the courts and enforceable) has probably been sold to a debt collector.

If you negotiated to settle and be released, please ensure that your release papers have your "individual" court file number on those settlement/release papers.

Two - interest is compounded, meaning: Compound interest is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods. So year two interest would be higher than year one and so on and so on.

So it could be even worse.

 

[whose your daddy]

I was under the opinion the Justice Gill decision upheld the Justice Young decision that pre-2004 agreements with Northwynd were subject to a maximum 5% interest rate on monies owed. I have not been involved in any of the court actions but have been assuming my risk was less at 5% than at 26% so I felt comfortable in not paying these crooks a dime. Not sure if I would seek a settlement if I am burdened with a 26% penalty but it would help to know.
Also has anyone who has stayed out of the legal actions and not paid anything been subject to any legal action? I would appreciate any feedback.

 

[Fuxtor]

We have not given them a dime ever since the renovations were introduced.... I still shake my head! Why on earth would a leasee have to pay any building maintenance??? Anyways, they had the court send out a notice but apparently they had so many individual claims they were thrown away? Haven't heard back since..... But I do keep getting a yearly statement showing how much I still owe.....

 

[truthr]

 

[Donsterama]

So, I'm an executor for an estate for my parents and going through some old mail, and looks like there is a demand for many years of unpaid maintenance fees etc. related to their timeshare. Not a nice surprise. Reading the message board there seems to have been a judgement back in 2016. I'm trying to get the lay of the land on what to do with this very large invoice. I know I should talk to a lawyer, but I expect people on this message Board have a perspective on where this stands. Do I settle? Ignore? Appreciate anyone's perspective.

 

[Tacoma]

Donsterama this post is pretty much done now so I would post this question on the buying, selling, exchangeing section of this website to ask for advice. Yes the fact that this is Northwynd and all of the drama that occured around this timeshare may make it a bit more difficult but ultimately the people who owned this timeshare are dead and you do not own it. I'm not a lawyer but whatever you do do not let them put this in your name, What can they do to your parents now? Good luck getting advice, I was one of the several hundreds who paid thousands of dollars to get out of this debacle.

 

[truthr]

It has certainly been awhile since anyone has posted anything on this thread.

Update: If you are someone who was a Geldert client that paid out the last settlement or have paid out since please visit my Truths2Cents Facebook page.

Just click on the link below where it says: Like and follow me on Facebook.

 

[LilMaggie]

Hello truthr! I haven't read or posted anything on this thread for a very long time because I have become so discouraged with the whole affair. I have not heard a word from the BC Law Society and I am going to contact them again to see it they are completing their inquiry.
I paid the settlement and just renewed my interest in Geldert and Northwynd since the Pandora Papers came out and it got me thinking about this whole fiasco again. I'm not on Facebook, however I was able to watch your video. Is there any way to contact you regarding what your group is doing now?

 

[teedeej]

TUBBS
Michael Geldert spend $3 million dollars of our money to obtain a “most excellent settlement” (his words) which cost each of us tens of thousands of dollars in maintenance/renovation fees and overdue interest costs so why aren’t there over 1000 negative reviews on social media condemning his lackluster performance? Where’s the outrage??
There are only 21 reviews on Google for the Geldert Law Corporation, of which only 6 are negative. Overall Michael gets an average rating of 3.9 out of 5! Why haven’t Geldert’s former Sunchaser clients posted more reviews? Everyone lost a large portion of their savings.
POST A REVIEW!
It is not to late to post a review about Geldert so please do so.

 

[truthr]

Did you file a complaint with the Law Society of BC?

 

[truthr]

I haven't posted here for awhile and don't plan to in the future.
For anyone who is still interested in information about what happened and is happening please visit my blog and/or public Facebook page.
Links below.

 

[Tanny13]

Interesting reading here. Class action lawsuit has been approved by the courts for the Fairmont bondholders in the amount of $85 million. This includes the approximately $36 million collected from the timeshare owners. Class action suit claims that Wankel transferred the funds to a numbered company he controls, along with the remaining real estate. Although it won't put any money back in our pockets, justice may still prevail...