Aviawest/Crelogix bankruptcy merged thread

[Hostelling Senior Member Find all posts View Profile Close Hostelling]

Anyone have experience with Aviawest Club points? Can you give me insight into what would be a good point amount to own?

[happypoints Junior Member Find all posts View Profile Close happypoints]

Aviawest

Give me more details on what your looking at, points, cost, time of ownership and all that. I have been researching Aviawest recently and I have an inside scoop on some developments you may be interested to know about them. Contact me.

[qb_bc Junior Member Find all posts View Profile Close qb_bc]

Aviawest points are simply RCI points. 46,000 gives you about a week in exchange at other resorts. If you are seriously interested in Aviawest points, send me a pm. I have some that I am thinking of letting go for just the transfer fee (about $500 to Aviawest if I remember correctly). I can also provide more details in a PM concerning maintenance fees, and issues with the resort developer seeking bankruptcy protection.

[happypoints Junior Member Find all posts View Profile Close happypoints]

Aviawest merger

What I know has to do with the bankruptcy issues. It turns out a very solid company in the industry who helped Point to Point owners this year is about to do the same with Aviawest owners this next year. It is still under wraps but from my research it appears to be VI resorts. Thank you for the offer, but I am happy with what I have, my wife is already upset by how much time I'm booking

[FriendG Junior Member Find all posts View Profile Close FriendG]

Aviawest Bankruptcy Protection

Details can be found in Grant Thornton Webpage on Aviawest.They have all the pdfs court documents filed up to December 15 at present for references.More will come after early March 2012 when the deadline for the sale of their Pacific Shore Property is reached.

[spirit Junior Member Find all posts View Profile Close spirit]

Should I buy an Aviawest package at this time?

A couple of months ago a wonderful lady was selling her Aviawest package. It was for a summer week converted to points with about 150000 extra points to be used up. We had come up with a price but at the last minute I was outbid. I let the package go reluctantly, and then I heard about the creditor protection. That gave me pause and I did not up my offer although I was really really temptedTimeshare fever!!!
Anyway, just in case another package comes up.....I would like your informed opinions. Is this a great time to buy a quality membership, or should I wait until the dust settles. Some of our friends lost everything when Points to Points went bankrupt and I am afraid this is just putting good money at risk. I already own a fixed week in Banff and am very happy with it because it suits our families needs. Any insight on Pacific Shores appreciated.

[happypoints Junior Member Find all posts View Profile Close happypoints]

What ifs

If another Aviawest comes up for sale, I wouldn't have a problem with you getting it, sounds like a good buy and some nice resorts. But just know, from what I am guessing, they will be absorbed by VI and there will probably be a small transfer fee $170ish like for P2P. On a side note, no one in P2P had to lose their ownership, they just chose to. I am grateful that there are solvent enough companies like VI that can help both parties in sad situations like this. I would like to hear from some P2P owners who did switch to VI and see what they think, I assume they love it as I do with all the local northwest properties, great trading power and all that.

[spirit Junior Member Find all posts View Profile Close spirit]

Vi sounds like a class operation

Two of my friends let their P2P membership slide. I do not think they used their plans wisely and did not understand the ownership transfer. I am a timeshare addict and am just interested in all kinds of ownership. They were just glad to rid themselves of their package since they are not able to use last minute getaways due to their jobs.
I googled VI and from what I read it sounds like a good model where owners are keeping up values not a development company. I have no problem with them assuming ownership. It is just that I did not want to get involved in something that was not clear yet. Thanks for the update and yes, I would like to know if VI ownership was a positive for P2P owners.

[FriendG Junior Member Find all posts View Profile Close FriendG]

Aviawest bankruptcy protection

If anyone of you have points with Aviawest.There is a very slim chance Aviawest can stay alive.For detail regarding all the court affidavits and other documents, please go to the bankruptcy monitor Grant Thorton webpage and download the pdfs court file from late October to now.The monitor recommended to the court that the Pearsons should remain as non essential management of their company.They no longer have any saying except at the mercy of the creditors.VI at this point has not disclose anything about taking over Aviawest.

[ribeena Junior Member Find all posts View Profile Close ribeena]

Aviawest/Crelogix bankruptcy merged thread

We currently have 30 000 annual RCI points through Aviawest. I am aware they have filed for bankruptcy but we are just looking to get out. I am desperate.
Any help?????

Should we hang on and hopefully they become bankrupt and we no longer have to pay them, do we try sell, do we get out at a loss. Any help!!!!

[qb_bc Junior Member Find all posts View Profile Close qb_bc]

The answer may depend upon how desperate you are to get out and why.

It is not clear how the Aviawest Resort Club, the points portion of the operation, is involved in the bankruptcy. Reading through the material filed for the bankruptcy it is confusing. The correspondence we received from Aviawest states that the points are safe.

However, the group that physically manages the timeshare portion of the operation is involved in the filing. I believe this is the reason that they have changed the payment period and method of collecting the maintenance fees for 2012. I suspect the prepayment of fees made in 2011 is involved in the bankruptcy and the new ongoing payment is required to keep the operation working.

It has been suggested on this forum, and I have no reason to suspect differently, that the operation of the timeshare will be taken over by Vacation International as the management contract. This could occur later this year depending upon how the filing and sale of property plays out in court.

Now, your Aviawest points have essentially no cash value. I would be happy to give away the ones I have for free (there is more to this story, not associated with Aviawest). You will get little cash for them.

Is the maintenance fee a burden to you? Then giving them away free may be the only solution.

Can you use the points while the picture settles out? This is what I am doing.

Reading through the forum, there is a series of posts about VI taking over PTP. At that time, members of PTP that did not want to move over to VI were permitted to walk away from their timeshares.

Good luck on your decision and situation.

[ribeena Junior Member Find all posts View Profile Close ribeena]

Aviawest-Pacific Shores

Well we currently still have a loan throughout the company. Would you suggest then that we hold on until March, the next court date, and then hopefully will be able to walk away from the deal.

[qb_bc Junior Member Find all posts View Profile Close qb_bc]

Well we currently still have a loan throughout the company. Would you suggest then that we hold on until March, ....

This adds another dimension to your questions. I do not have any wisdom for your situation as there are so many possible other factors that may be involved. Others may make comment, but I suspect the real answer is unique to your circumstance. Loans, such as this, at times are sold off to other companies, and as such may be outside the proceedings.

Be cautious in applying comments you receive.

I wish you well in your situation. I will be following other comments, if any.

[Aviawest Junior Member Find all posts View Profile Close Aviawest]

Aviawest and CCAA

It is important to clarify that the company, Aviawest Resort Inc. (ARI), is separate from Aviawest Resort Club (ARC), which Aviawest points owners are a part of. Aviawest Resort Club is not insolvent, and is an independent non-profit society, separate from Aviawest Resort Inc.'s corporate entities.

It should also be noted that Aviawest Resort Inc. is not bankrupt. The company is protected under the Companies' Creditors Arrangement Act (CCAA), which is designed to help companies restructure their business and financial affairs. The main purpose of the CCAA is to enable financially distressed companies to avoid bankruptcy, foreclosure or seizure of assets while maximizing returns for their creditors.

Points owners' Aviawest Resort Club, on the other hand, has not filed for CCAA. Aviawest Resort Club is an entity driven by a real estate trust, which holds real estate free and clear of any encumbrances or mortgages.

More information about the CCAA process can be found here: What is CCAA? -- PricewaterhouseCoopers Canada

[qb_bc Junior Member Find all posts View Profile Close qb_bc]

However, the following is from the filing with CCAA.



The collection of 2012 maintenance fees has been accelerated to January 2012 from July 2012, possibly indicating that ARI has not separated the $1.9 million and is having cash flow problems.

While we will not know what will happen until the CCRA process has completed, we are left to question. Actually, what will happen will happen, and there is precious little we can do in the meantime. Time will tell us.