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Club Vacances Magog - New Urgent Notice

spoon

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We just got a letter from this resort and it is all in French. As near as my wife can tell (and neither of us read, speak, or write French) it appears there is going to be a meeting this week concerning this resort. Has anyone else gotten a notice? Is it in French or English? If it is in English can you tell me what it says? My attempts to call the resort has been unsuccesful. All the calls are handled via voice prompts which utlimately led to a message stating "sorry we can not take your call now, at the tone leave a message". There's something real strange going on here. 7-10 days ago, I called the resort and someone representing Textron indicated that the developer and her management staff were "all" fired. When I just called, the voice behind the prompts sounded just like someone from the old management staff.
 

MaryH

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spoon said:
We just got a letter from this resort and it is all in French. As near as my wife can tell (and neither of us read, speak, or write French) it appears there is going to be a meeting this week concerning this resort. Has anyone else gotten a notice? Is it in French or English? If it is in English can you tell me what it says? My attempts to call the resort has been unsuccesful. All the calls are handled via voice prompts which utlimately led to a message stating "sorry we can not take your call now, at the tone leave a message". There's something real strange going on here. 7-10 days ago, I called the resort and someone representing Textron indicated that the developer and her management staff were "all" fired. When I just called, the voice behind the prompts sounded just like someone from the old management staff.

Spoon,
If you have trouble finding someone who speak French to read the letter you can either:
1. Type it into bubble fish to translate it. It would not be 100% correct but you would be close enough.
2. PM me to get direction to scan or fax it to me and I will tell you the gist of it.
 

aptiva

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Have not received any mail yet..
When we do, will try to decipher it from my high school French..
You can email me further
Marie
 

spoon

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Notice is for deeded owner

The reason most of you Club Vacances Magog owners did not get this notice is because it was intended for those who own "deeded" weeks in the older buildings which are located a couple of blocks down the street. I got an English summation (via e-mail) of what was in the letter. Apparently, some of the deeded owners have been meeting since December 29th to address the impact of losing the resort's management. This Thursday (Feb. 9th) they are having an "all" owners meeting to discuss the problems and make certain decisions concerning: 1) insurance, 2) management and upkeep of the buildings like heat and electricity, and 3) re-establish a relationship with RCI.

RCI is not allowing any exchanges into the resort. As I denoted in my first post on this topic, last week or so I indicated that someone was taking calls into the resort. Now, everything is voice prompt and the voice belongs to a management staff person who was fired. Based on this and the letter I received, it is my belief that this resort is unfortunately vacant and CLOSED.
 

icydog

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I have a good friend who is Belgian and of course French is her first language. If you want to fax it to me I will get it translated for you. Send me a PM if you want or an email.
 

rubin

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Spoon:
This is distressing to say the least. We last called the resort 3 weeks ago. A person did answer, and said she was a temporary worker. She confirmed our dates and unit number and was looking forward to meeting us.
We are planning to go to Magog week of 19th Feb, i.e. in 11 days
I am wondering, someone must have the list of all the owners to send them letters. This someone must know what is going on, was there a return address ?
You mentioned that you received an email in English, who sent it ? can you ask him/her what exactly is going on ?
Finally, I understand why the notice was sent to deeded owners, but if the resort is closed, and deeded owners are trying to “fix” things, I believe most non-deeded owners would also like to get involved rather than see all go to waste.
 

spoon

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Rubin:
The English summary of the urgent notice (which was in French) alluded to the fact that RCI had closed exchanges into Magog. I never got a confirmation on this from my contact who provided the English summary. It could very well only apply to the deeded buildings and not the RTU buildings. I strongly urgent you to confirm your Feb. week with Magog and/or RCI. I can not attend their all-owners meeting tonight but my contact did commit to providing me with a summary of the minutes. I'm not sure how concerned these owners are with the RTU buildings and owners. Unlike me, I suspect that most of them only own in the deeded buildings. At the moment, I suspect they'll concentrate on just the deeded buildings.

I have made a couple of exchanges through RCI recently. I booked a week in New Hamsphire for the last week in Febrauary and then in the middle of March I have booked a week in San Cabo Lucas. I called RCI a couple of days ago and the vacation guide/rep indicated that any exchange officially booked through RCI will be honored no matter what happens with the Magog resort.

By the way, thanks to those who offerred their help in translating the notice. Since I got a translated summary your help isn't needed. But, thanks for the offer.
 

aptiva

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Understood the condos at the end of the road were no longer with Club Vacances.
No heat / No hydro?? BAD sign!!
Would be good if we owners could pool our info together on what we know. I'm open for emails.
 

rubin

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We also got the answering machine when we called, then we contacted the Eastern Townships Tourist Bureau, they in turn contacted the resort and confirmed our arrival date and unit number, and assured us that the place is still open...going to be an interesting trip
 

spoon

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Rubin,
It appears that the deeded buildings are no longer affliated with Magog plus has additional problems. When you're there could you ask the current resort management what's going on with the deeded buildings too? And let us know what's happening with the RTU ones too. THANKS
 

rubin

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We also contacted RCI, it appears that bldg 48 was sold, and RCI is no longer exchanging into bldg 48. RCI assured us they are still exchanging into the other bldgs.

What exactly does it mean that the deeded units are no longer part of the resort, don't you have a contract ?
 

myip

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Spoon - What unit do you own?

I own unit 48D and 54E. I have never received the letter. Both of my unit are RTU not deeded. I am not sure whether RCI know what is going on. I did called them and they say I can deposit either unit. Spoon: What unit do you own?
 

spoon

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Rubin:
It was Aptiva's understanding that buildings at the end of the road were no longer part of Club Vacances Magog. I just repeated it in my post. Yes, I have 2 deeds plus 2 RTU contracts. Most of my comments are conjecture rather than fact. For most of us, we're in the dark about what's going on. Someone mentioned (in previous threads) that Textron is running the resort. They could be the mortgage holder of the RTU buildings. If this is the case, I'm not sure they're there to run the resort on a permanent long term basis. If this is true then what interest would they have of the deeded buildings since they don't own them? If they did have an interest then why is a non-Textron group scrambling to find heat and electricity. My belief is the deeded buildings are on their own. However, as time progresses and things get sorted out, they may all come back together again. That's rarther interesting that one of the RTU buildings is sold. To whom? Is it now a deeded building? When you visit the resort soon please try to learn as much as you can and start a thread/topic upon your return to inform the rest of us. THANKS.

Maria: I own in RTU: 54F and 50F. In the deeded buildings, I think I own 2033 and 2025. It's hard to tell accurately.
 

mdmbdumont

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Someone mentioned (in previous threads) that Textron is running the resort.

Textron used to be actively involved in financing hotels and resorts. Maybe there was an underlying note of some sort they foreclosed on? That would be a last resort for them. Last thing the bank wants is the property back.
 

aptiva

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Happy Skiing Rubin.
We wait for your return with GOOD news.

Maria: our papers say we own J54E. A May week.
Marie
 

aptiva

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Just received an email from a friend, informing me that some people going to Magog this weekend have been informed by RCI that it has gone bankrupt.
 

DianeG

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FEB. 15 - Important Update

This morning, I had a fairly long conversation with one of the guys at CVM. I'm in a rush to leave for Montreal today, so I will not post more detailed info until Sunday. But, in a few words:

Club Vacances Magog is NOT bankrupt.
First building (deeded owners w/ 4-digit units numbers) no longer under services contract with CVM.
RCI exchanges suspended ONLY for units in this building.
CVM now under Textron management.
Dec. "offer" withdrawn.

Please feel free to e-mail me or send me a message.

Regards,
Diane
 

vetteguy

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Spoon,
if you haven't found someone to translate this, I can do this for you, I speak french. Just let me know.
Daniel
 

rubin

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Who is Textron ? Is this the same company based in Providence, RI, but they seem to be in aviation (Bell helicopters, Cessna) not real estate.
 
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