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Corrupt Board of Directors (?)

sierrapines

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Resorts Owned
Villa del Palmar, Club Tahoe, Ocho Cascadas
I feel for you , I shared this with a couple others who were lucky enough to get elected to our board one year after sort of similar. I no longer own and neither do they.

In a nut shell - the self dealing group unfortunately got reelected after a few years as timeshare Owners got lazy and failed to vote one year to keep them off. My old resort has 9 WUO , Whole Unit Owners ( own all 52 weeks), and they have a voting block. It was a major soap opera . While honest timeshare owners were in control at the resort they did an forensic audit and found tons of crooked money deals. They also then did a class action suit against the developer at the time and got out from under Equivest-> Wyndham .
We are in discussions with attorneys - would appreciate any recommendations
 

Tia

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We are in discussions with attorneys - would appreciate any recommendations
I'll ask one of the people involved back then, see what they say.
 

Carolinian

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We are in discussions with attorneys - would appreciate any recommendations

I would explore how proactive your state's Real Estate Commission is on these matters. Our NC Real Estate Commission during the many years that Blackwell Brogden was its timeshare guru, was not afraid to jump in against evil doers among timeshare developers or corrupt HOA boards. On the Outer Banks, he made the secondary developer at Bodie Island Beach Club an offer he could not refuse to force him to turn over HOA control to the members. He even forced RCI to make changes in RCI Points by telling them that if they did not, he was going to rule that RCI Points was a timeshare developer instead of an exchange program. RCI did everything he demanded., Unfortunately, our Real Estate Commission has been less proactive since he retired.

Also, most HOA's have Directors and Officers Liability Insurance. If you can find out the carrier, and that should be in financial documents you have legal access to under corporation laws, you can advise them of a potential claim and they often respond by putting heat on their insured parties to change their behavior to avoid claims under the policy.
 

Tia

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We are in discussions with attorneys - would appreciate any recommendations
This is who represented the HOA's at Bluebeards Castle 2005/6 when owners united and voted to get real owners on the board, not the guys giving/taking favors. They won tens of millions, as I recall Wyndham did bankrupt Equivest to prevent even more pay out to the owners.

rogerstownsend.com
Rogers Townsend, Llc
1221 Main St 14th Fl, Columbia, SC 29201
(803) 771-7900
 
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