KBV 2019 Annual Meeting Report

[CO skier]

The election was by ballot. The Annual Meeting minutes reflect that two members were elected to count the vote, which is where the detail of how certain members voted came from.

Were the two elected members sworn to secrecy or confidentiality at the meeting or in the governing documents? If not, then there you have it.

 

[pedro47]

This thread is a mess. Also, it's sound liked the by-laws needs to be updated or amended and voted upon by owners. That are current in M/F.

Sounds liked a court arbitrator is needed to settle these issues between the parties engaged in these disputes and controversy. IMHO.

I am not a Wyndham owner.

 

[ecwinch]

Not really. Typically a court is not swayed by the emotional pitch of the argument, but rather at the issues at law. Here the law is pretty clear.

The nature of the response to the material issues raised is demonstrative to that fact.

Lawyers have a saying... "When the facts are on your side, pound the facts.When the law is on your side, pound the law. When neither is on your side, pound the table.”

Nothing good comes of this other than some junior partner adding a pool to their house.

 

[pedro47]

Maybe, the board needs to change the by laws and just add one additional non Hawaiian member receiving the highest number of votes.

 

[ecwinch]

Maybe, the board needs to change the by laws and just add one additional non Hawaiian member receiving the highest number of votes.

Correct, changing the by-laws to drop the Director residency requirement - as required by Hawaii statute - is certainly the correct solution.

Unfortunately changing the by-laws is not something the BoD can unilaterally do, and is almost impossible without Wyndham's 20% of the voting power. Which - as I have commented on extensively - is the issue the SaveKBV.org assumes away. There is no path forward without Wyndham's buy-in and cooperation, and continuing to paint them as the villians in this narrative does nothing to address the long-term issues facing KBV.

Because this is not Olympic Village where the owners are trying to keep Wyndham from acquiring ownership interests. Wyndham owns the deeds they own, and there is very little to be done to change that. Assume for a second that the SaveKBV.org gets everything they have asked for - election is invalidated, new election is held, new BoD is seated. Wyndham still is going to control multiple seats on the BoD.

 

[pedro47]

I totally understand the developers control the majority of the proxy votes.

 

[Aurelius]

I think lost in all this is that even after the election there were 3 independent owners not affiliated with Wyndham.

2 of those 3 wanted to put the contract out to bid. The largest and most expensive contract the association has. Maybe someone can do it better? Maybe GPR can get more aggressive on price?

I’m sure GPR will be included in the bid process. They most certainly will provide a more competitive bid when they have competition than if the contract was unilaterally renewed.

I don’t see how anyone can see putting a contract out to bid as a bad thing. What does it hurt to see what’s out there? It’s not like Wyndham was awarded the contract without a competitive bid process.

 

[ecwinch]

I totally understand the developers control the majority of the proxy votes.

No, that is not true at KBV. At KBV - due to a foreclosure agreement with the HOA - Wyndham actually owns approximately 20% of the intervals at KBV.

 

[Aurelius]

No, that is not true at KBV. At KBV - due to a foreclosure agreement with the HOA - Wyndham actually owns approximately 20% of the intervals at KBV.

Great point - they also pay the maintenance fees on that 20% and absorbed dead inventory in the process, reducing the costs to remaining owners.