The bankruptcy court has to approve expenditures so "burning up the funds" is unlikely. Also, since Wyndham is a majority owner, Wyndham's interest is aligned with yours and mine.
It took me five minutes to check documents on the omni site and use the back of my envelope to determine the following:
That would be nice, even after paying capital gains tax. I have two intervals that cost me a total (all in) of $2.00.
While someone insignificant, that approved sales price probably hasn't taken into consideration certain closing costs and real estate commission. I would expect those professional fees to come out of the sales price rather than cash on hand. Though in the end, the number provided is probably in the general ballpark of an expected payout.
Didn't the deeds from CWA swaps go to Wyndham? CWA swaps doesn't change the fractional percentage ownership of each interest. It remains at the 0.0305%.
It shouldn't change the number of intervals or the percentage, just that Wyndham gets the 0.0305% for each of the swapped contracts instead of the owner.
I kind of figured money was fungible. Most of the cash on hand is reserves and I can only assume it will also go back to the owners who originally paid into it, so I just figured the funds on hand would more than cover the selling expenses, (note that other professionals like the attorneys are already being paid I think monthly, so there won't be a lump sum due at the end) leaving the full sale amount to be divided. I look at $2470 as a minimum, really.
Agreed - there's a ton of misinformation in the FB groups - we get some of that here as well but not nearly as much since the average TUGGER is pretty savvy with timeshares and in life in general it seems. Curious, on the PP item, I wonder if that $6 million reserve balance includes the big expenditure that was approved earlier this year, IIRC somewhere around $3 million, to continue and finish construction projects or something?
The easiest way for me to check this was to find the earliest small business operating report. At the start of December 2025, the opening balance was $16.4 million. At the end of June 2026, the ending balance was $6.4 million. So a big drawdown, but it is under contract now so hopefully it will move along towards finality.
Certainly seems as though the multi-million dollar construction project expense was absorbed already - or at least I certainly hope it was...
If the money was still owed to contractors and suppliers, it would have been listed in the outstanding debts in the BK filing.
This is a good point and I think it gets overlooked. Wyndham may even have been losing money on the whole deal if they were paying full maintenance fees on all the intervals they acquired. Hard to sell memberships in a closed resort.
Easy. I have a guaranteed property on a specific week. If Wyndham rents it out under me, which they did twice during my ownership, they're violating the terms of the deed. I was reimbursed for every single night I was not in my deeded property.
As i mentioned, the specific unit is the only "extra" of fixed week vs points. As for expiring, your use right "expires" every year, and then renews the following year, just like points if you don't use it
Will this be different with Shawnee where there are one or two bedroom units? I just assumed we might be getting a slightly smaller cut than my in-laws because they had a 2-bedroom on the same week as our 1-bedroom.
The governing documents will indicate the fractional share for each unit or unit type. It would certainly be very likely that the 1BR will have a smaller fractional share than the 2BR.
Yes, each resort, or each HOA within a resort, will have different percentages depending on the makeup of the units. Orlando International is easy because they're all 2BRs. I found the figure in the "Voluntary Petition" document which seems to be one of the earliest documents filed in each of the bankruptcy cases, which lists all of the owners as "equity security holders" and their share of ownership.
As I wrote before, this is absolutely untrue for a converted week that is fixed-week/fixed-unit. Such points ownerships have exclusive ARP rights to the underlying week/unit.
Already done - was in the process when you posted this.
Where do I find the renting thread?Already done - was in the process when you posted this.
