- Joined
- Jan 10, 2010
- Messages
- 7,087
- Reaction score
- 4,801
- Location
- Fairfax County, Virginia
- Resorts Owned
- Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House, Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach, HGVC Parc Soleil, Pine Acres Lodge
I don’t own Star Island, so i doubt they would answer my questions. Who exactly is paying the management company to maintain the Wyndham units after the HOA is bankrupt?
Bankruptcy in these cases does not mean insolvency. That has been discussed in a bunch of posts in this thread. HOAs are filing Chapter 11 Bankruptcy to facilitate the sale, not because they are insolvent.
The way it will work at Orlando International is the reserve funds will be transferred to the general fund and will be used to pay expenses. Orlando International has been ahead of the pack procedurally but other resort HOAs seem to be doing the same thing, just several weeks later.