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

[gilker]

We should have had higher fees???

This quote from Kirk Wankel on the global news report doesn't make sense:

“We believe the owners probably should have been charged about $300 to $400 a year more for the last 15 years to properly address the maintenance of the resort,”

I think that statement is misleading at best. The MF's have been steadily increasing over the years. If you multiply $400 x 14,500 owners x 15 years you get $87,000,000. That is far beyond even the 40 mill 'reno' costs they estimate; and if renos had been done as they should have been, the 40 mill cost would have been lower.

Regular condo fees are $3-400/month to keep the maintenance. What Wankel is stating would be $3-400/week; why would the time share maintenance costs be 4x that of a regular condo? On top of the MF that is already collected? This seems to be more gross mismanagement than lack of revenue.

I am wondering how he can publicly make such a claim; seems to be quite misleading in suggesting the MF have been too low, so now we need to pay.

 

[TS Migraine]

This quote from Kirk Wankel on the global news report doesn't make sense:

“We believe the owners probably should have been charged about $300 to $400 a year more for the last 15 years to properly address the maintenance of the resort,”

I think that statement is misleading at best. The MF's have been steadily increasing over the years. If you multiply $400 x 14,500 owners x 15 years you get $87,000,000. That is far beyond even the 40 mill 'reno' costs they estimate; and if renos had been done as they should have been, the 40 mill cost would have been lower.

Regular condo fees are $3-400/month to keep the maintenance. What Wankel is stating would be $3-400/week; why would the time share maintenance costs be 4x that of a regular condo? On top of the MF that is already collected? This seems to be more gross mismanagement than lack of revenue.

I am wondering how he can publicly make such a claim; seems to be quite misleading in suggesting the MF have been too low, so now we need to pay.

Gilker, not ALL 15,000 owners own a week every year, some of us are Biennial owners, so your calculation of $87 million MF may be a bit generous, but your basic argument is sound. It was my understanding at time of purchase that our maintenance fees were divided up to have a portion set aside to accumulate for eventually necessary Capitol Cost repairs. Not sure where that money went, but it appears the sales people are very well paid, whether thay sell TS Units or REIT Mutual Funds, or Legacy for Life or whatever other program they came up with in order to raise the cash they forever mismanaged.

 

[TS Migraine]

Mountainside and Mariotts

Regular condo fees are $3-400/month to keep the maintenance. What Wankel is stating would be $3-400/week; why would the time share maintenance costs be 4x that of a regular condo? On top of the MF that is already collected? This seems to be more gross mismanagement than lack of revenue.

I am wondering how he can publicly make such a claim; seems to be quite misleading in suggesting the MF have been too low, so now we need to pay.[/QUOTE]

TS Owners at Mountainside claim their maintenance fees are only reasonably higher than they were at time of Purchase. Mariott TS Owners claim their annual increase in maintenance fees are pennies... go figure. I think Wankel should consult with the CAs from those resorts before he concludes the problem is the "too Low MF."

 

[Hey lady]

Gross mismanagement is the correct statement.

 

[DarkLord]

This quote from Kirk Wankel on the global news report doesn't make sense:

“We believe the owners probably should have been charged about $300 to $400 a year more for the last 15 years to properly address the maintenance of the resort,”

I remembered hearing that from Wankel too. That's why I said Wankel is a discredit to his profession in my earlier post. If we paid $1000 MF 15 years ago in 1998, no one would've bought the Fairmont TS. When I bought resale 6 years ago, the MF was in the low $600 and had it be over a grand, I would never have bought it.

This guy doesn't know what he's talking about nor the economics of TS and yet he's the CFO or CEO of this thing.

 

[Hey lady]

TS Owners at Mountainside claim their maintenance fees are only reasonably higher than they were at time of Purchase. Mariott TS Owners claim their annual increase in maintenance fees are pennies... go figure. I think Wankel should consult with the CAs from those resorts before he concludes the problem is the "too Low MF."[/QUOTE]

My Wyndham Resort MF have gone up a total of 8% in 11 years and this past year all the interiors got totally refurbished, without asking me for additional assessments. When we bought into Riverside we were told our MF would drop once the resort was sold out. Another lie.

 

[pdoff]

We were also told that maintenace fees would go down as more people signed up - instead they went up over 150% to over a $1000 a year. Wankel says they should have gone up more! These rip-off artists have p----d away our money long enough! I hope that we get a judge that takes a good look at this and sees it for what it is - A SCAM - and makes these bums pay back people - like the lady that sold her car to pay this stupid 'take off' option from these crooks. They are giving Canadian Business people a bad name!

 

[THE AVENGER]

We decided to pay the "opt out" fee. Interestinly, they have not cashed our cheque. My three sisters have also sent cheques that have not been cashed. Has this been the case with anyone else?

Has anyone had their check cashed? Ours wasn't so we stopped payment on it until we know the ruling from the BC court. We do want out but don't feel we should be paying for their future management fees which they have not earned and likely will never earn since the whole thing will most likely end up in receivership or simply close the doors within a year or so.

 

[Chomedy]

Opt Out

Has anyone had their check cashed? Ours wasn't so we stopped payment on it until we know the ruling from the BC court. We do want out but don't feel we should be paying for their future management fees which they have not earned and likely will never earn since the whole thing will most likely end up in receivership or simply close the doors within a year or so.

I received the letter offering a way out 2 days before we left for a vacation. My family had previously informed me they were not interested in inheriting my unit at Sunchaser and they wished I had never purchased it. (July 2005). Since they needed an answer by May 31st & I was going away I mailed a cheque by registered mail May 1st. They were not long cashing it. I haven't heard anything back but I made copies of all papers I signed.

 

[ferrier1]

ferrier1

We have 20 years on a 40 year lease left. We to asked our family if they were interested and they replied not with this mess going on. We had already mailed a check. I contacted Robert at Docken Klym and he advised to stop payment and send a note to Northwynd informing them. When I went to cancel the check had cleared the previous night. Sure do regret my descion

 

[jekebc]

To Sunchaser Timeshare Owners.
Please complete a brief survey to help prove Northwynd is misresenting how many owners support the renovation project
https://www.surveymonkey.com/s/SunchaserTimeshare (or copy and paste to your web browser)
Jim Belfry

 

[Anxiety123]

Timeshare Use

Has anyone been turned away from using their week at Fairmont since May 31?

 

[morena]

unbelievable

This character assassination is unfortunate. Perhaps the reality is that Mr. Wankel is on everyone's side and working towards a win-win solution to this difficult situation we are all in.

How much did they pay you to post this?

 

[condomama]

Floods and evacuees

Taking a moment to voice our concerns for all the people affected by the floods in southern Alberta. We returned home from Fairmont yesterday, where they were once again dealing with debris coming down from the watershed above the resort to the villas and local roads were closed. It was still raining heavily there. It took 6 hours to go around via hwy. 3 and we passed by High River and the devastation was evident right from the highway. Our thoughts and prayers go out to everyone affected.

 

[Beaverjfw]

For your viewing enjoyment

For those of you that have Netflix account you may want to have a look a the documentary called "The Queen of Versailles". Its an eye-opening glimpse into the time-share business.

The tag line is " Meet the Siegels, glitterati who made a fortune in the time-share business only to see it crumble in the 2008 financial collapse. The site of their rise and almost-fall is their home (America's largest), a gaudy replica of the Palace of Versailles..
Enjoy

 

[Undecided62]

Any News?

Has anyone been advised about the hearing for today? Or in fact, whether there was a hearing?

 

[Chilliaces]

Todays Hearing

I am very curious also as I am supposed o check in at Fairmont on Monday, that is as long as they will let me.

As soon as someone knows something, please post.

 

[condomama]

It certainly has gone really quiet lately. Is the silence the sound of 18,000 owners collectively holding their breath?

 

[aden2]

The hearing was today June 25th @ 2 p.m. -B.C. Supreme Court Vancouver

 

[morena]

and?

It certainly has gone really quiet lately. Is the silence the sound of 18,000 owners collectively holding their breath?

Why is no one speaking?

 

[TS Migraine]

Today's Court hearing was to determine a DATE by which all Forms 67 and letters of Opposition must be in. It is unlikely any weighty issues like whether or not Petition 66 was a Legal invoice or not, will have been dealt with today. I suspect it was a very brief event with only a Date being set as the deadline for Form 67 and letters of Opposition. I am sure all involved Lawyers will have letters sent by email to keep us up to date ASAP. Maybe the Quiet is the calm after the storm- FLOOD.

 

[jekebc]

I attended Court Hearing June 25 - a somewhat disjointed process. The purpose was to establish a process and schedule that the issues re the Matkin-Nothmont Petition could be addressed. The outcome was simply the Master directing the lawyers involved to confer and make submissions to a further hearing now scheduled for July 12.

Northmont's lawyer attempted to downplay the process, stating that over 5000 timeshare owners had responded to them, and that the lawyers attending only represented a small minority of dissenting owners. The Master had reviewed the documents many of you filed and simply didn't buy into Northmont's arguments - so we achieved something.

There was some consensus that two key issues need to be dealt with some priority.
1) Does Northmont have the right under the existing contracts to charge Lessees and Co-Owners with the Renovation Fees? and,
b) Should Northmont be allowed to charge a Cancellation Fee for owners that want out of their contracts.

These two issues will not be decided on July 12, but the intention is to agree on an outline as to how the arguments will be presented and the schedule to get a Court Decision. There will be a process for the lawyers to submit other issues that need to be decided on such as the Summer Reservations and access to Northmont/RVM documents.

And regarding Form 67 submissions:
Thank you to all that prepared and submitted Form 67, Affidavits and supporting documents - it had an impact on the Master's decisions. There is still no deadline for further submissions from those that have not as yet sent a Form 67.

I still suggest that every owner:
1) Not make any further payments to Northmont/RVM/Northwynd pending a Court ruling and cancel any payments in process.
2) Ensure a letter has been sent to Northwynd et al advising their letters have caused duress and thus no payments will be made pending a Court ruling.
3) Have a Form 67, and preferably an Affidavit and supporting documents, ready for submission when a new deadline is established.

If you know of any owners that have not retained legal counsel re the Sunchaser issues and if they are looking for assistance, please have them email me at thebelfrys@shaw.ca

 

[gilker]

And regarding Form 67 submissions:
Thank you to all that prepared and submitted Form 67, Affidavits and supporting documents - it had an impact on the Master's decisions. There is still no deadline for further submissions from those that have not as yet sent a Form 67.

I still suggest that every owner:
1) Not make any further payments to Northmont/RVM/Northwynd pending a Court ruling and cancel any payments in process.
2) Ensure a letter has been sent to Northwynd et al advising their letters have caused duress and thus no payments will be made pending a Court ruling.
3) Have a Form 67, and preferably an Affidavit and supporting documents, ready for submission when a new deadline is established.


Jim I am under the understanding that my lawyer filed the form 67 on my behalf; I hope that was clear at the hearing. Was their any indication of how many people the lawyers were representing? If 1000 people paid lawyers $300-500 each I'm sure that would send a message that many people are not happy with it.

 

[atcjtb]

Form 67

Just wondering where I find the form 67. I did a google search and found a document, but it is quite long and has a lot of info that seems irrelevant?
Anyone have some direction as to which form and what I need to specifically fill out on this form? I did send an email indicating that I will not be paying until the court decision is made and the whole duress thing etc. No response from Northwynd of course! Any advice would be greatly appreciated!

 

[Fly525]

For info on Form 67 (and the other documents to be filed) visit Post 491 on this Forum. I just completed the entire process and it was seamless with one small exception. My Affidavit and Exhibits were too large a file to submit via email. I submitted them to Dye & Durham via courier and they delivered them to the Court.