Regarding Northmont not paying fees on returned/unsold/delinquent weeks. What evidence do you have to support your allegation? Obviously you did not read my last post, but I challenge you to support your position.
The reply from Service Alberta says it well. Standing on your soap box and making your claims does not solve your issues. I quote from Service Alberta:
“The operation of the Time Share after the sale is governed by the terms of the Time Share Contract. If the Time Share operator breaches the terms of the contract, then you may have a civil case. You would need to discuss your case with legal council and determine if the issues you have identified would be a breach of the contractual rights and obligations under your contract and what options may be available to you to pursue redress or resolution.” (Emphasis are mine)
With the claims and allegations you have made, it appears that Service Alberta has given you the path to obtain “redress and resolution”. It appears that you should proceed post-haste to have your legal council proceed to next court.
QUOTE - Regarding Northmont not paying fees on returned/unsold/delinquent weeks. What evidence do you have to support your allegation?
How about the 2011 Financial Statement? Which was over a year late.
2011 4(i) Maintenance fees and unit rentals charged to developer $ -
2012 makes no mention of it.
2013 makes no mention of it. (2014 has it again - and shows 2013 as $ - )
2014 4(j) The Developer is responsible for maintenance fees on developer owned inventory provided such inventory is online and available for use by the Developer. As such, Developer maintenance fees are calculated as follows:
2014 Gross maintenance fees - Developer $ 3,360,250
Less: cost reductions associated with inactive inventory owned by the developer (2,661,457)
_________
$ 698,793
The operating costs reductions associated to inactive inventory owned by the Developer are credited to the Developer due to the change in active inventory usage per the Agreements. Included in operating costs credited are the following: operating wages and benefits, offsite wages, non-wage staff costs, direct operating, contracted services, repairs and maintenance, general and administrative, utilities, insurance, refurbishment and management fee expenditures. This calculation is prepared by the Property Manager and agreed by the Developer, an entity related by virtue of common control. These transactions are in the normal course of operations and are measured at the exchange amount which is the amount of consideration established and agreed to by the related parties.
2015 4(i) (i) The Developer is responsible for maintenance fees on developer owned inventory provided such inventory is online and available for use by the Developer. Where inventory is inactive, the Developer is credited to reflect the cost savings of the Resort. Developer maintenance fees after credits are as follows:
2015 Developer maintenance fees $ 582,057
So for 2015, they're not even going to tell us the amount of the credits? hmmmm.....
2016 No financial statements yet. Kind of late again.....
These are all easily found on the Sunchaser site. And you can dig back into your previous statements to see the rest.
Odd, don't you think, that they were never accounted for before - even though it was stated in our contracts?
Then there's the on-again, off-again accounting of the last few years since our troubles began.
Then there's the interesting way they take all the cost reductions for themselves instead of sharing them equally among all lessees - and only paying the difference.
You see, if Sunchaser/Northmont/Northwynd had been paying their fair share all along, they would have had some incentive to manage things properly, keep the Timeshare Sales operating, maximize rentals of empty units, etc. But it turns out that running it properly for the good of the lessees was never their intention - or they wouldn't have killed all goodwill and rendered future Timeshare sales and resales impossible. They've made it so our leases have zero value to us now - worse, they are a liability to lessees.
But if Sunchaser/Northmont/Northwynd succeeds in bullying us into walking away - we've given away 20 or 30 or - in too many sad, sad cases - 38 years of our vacation investments. And we're supposed to be grateful for that - and even pay for the privilege?!
Sunchaser/Northmont/Northwynd will thus re-acquire a massive inventory of properties
FOR FREE - WITH BONUS PAYMENTS that they can simply do with as they will - sell off whole buildings, sell off as condos, convert to hotels, rent out to long-term tenants, etc. The few lingering timeshare lessees will find their vacation experiences massively altered once Sunchaser is no longer a timeshare resort.[/QUOTE]
They have deliberately misled everyone and never had any intention of honouring their side of the deal.