Aviawest/Crelogix bankruptcy merged thread

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

Aviawest

i found out today that there are other companies who want to take over the aviawest project. I do not know their names but VI is only one in a bunch. However, they may be the better of the bunch. I then asked who are they better for? Well, I was speaking to the lawyer for Aviawest and they could not tell me anything else. His names is John Grieve in Vancouver.

I was also speaking to Grant Thornton LLP to a man by the name of Greg. He is the Monitor for Aviawest. 604-687-2711 maybe give him a call and ask for info. He rather gave me a bit. I have also sent a copy of my contract to the BCRE COUNCIL because the Pearson's are licenced only to be strata sales realtors. It all ends up that we should get a lawyer to do a Class Action law suite. Why I say that is because the "hints" I received from Greg, is that it "sounds" illegal. It depends on what side you are on. Now I am not a lawyer but I am getting an appointment to see a lawyer before March 10, for here in Nanaimo. In fact I am going to the Justice Access Center. I can get three free visits with a very good lawyer. At least I will get some info. If this is helpful to anyone.

[Lesson Learned Junior Member Find all posts View Profile Close Lesson Learned]

Help

We owned 40,000 points with Aviawest and were also desperate to get out! After many emails and phone calls with Aviawest Resort Club directors we were able to get out of our contract by paying the 2012 maintenance fee of $556.00 in full and the legal tranfer fee of $140.00 to transfer our $40,000 points back to Aviawest. We lost over $17,000 in this expensive mistake but sometimes the act of walking away is the best move and brings your the peace of mind and closure needed to realize that you made a really bad decision, live and learn! I pity any time share sales representative that EVER approaches me or my husband in the future! The sting of losing close to $20,000 will NEVER be forgotten!!!!!! I would suggest this approach, it worked for us! Best of luck !

Can you please let me know when you purchased your timeshare? I am trying to do the same thing but have had no luck so far

Thanks

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

Some fascinating reading here;

http://www.grantthornton.ca/resource...029%202012.pdf

Start at about page 17.

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

Some fascinating reading here;

http://www.grantthornton.ca/resource...029%202012.pdf

Start at about page 17.

This is interesting reading. You guys have problems. What you need is time, and that is difficult. However, for someone that wants to, I would look closely are your master declaration documents to see what are the timelines of notice that MUST be followed in order to hold an SGM. I'm thinking those probably have been met but if they haven't, then there is a basis to challenge the validity of holding the SGM or any results stemming from it.

So those of you that have your master declaration documents, dig them out and what do they say on rules about holding a general meeting?

btw, who is this Kate Britton lady? Is she an independent owner or a puppet of the ARG? How long has she been a board member?

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

A few additional comments, the letter from Kate Britton to the monitor says there is no contract between ARC and ARG. Duh!?? How can that be? There must have been some sort of contract for ARG to run the Club. If you look at your MF billing statement, is there a line item for mgmt fees? There has to be. Why else would they be doing it. This lady's got to be an idiot.

You guys have an idiot as your chairperson.

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

Suzie,

If you're meeting with a lawyer, note my points in the last post and that's a starting point.

http://www.timeshareforums.com/forum...ed-help-2.html


Moderator, it might be worthwhile merging these two threads.

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

The key words from the bylaws are;
"...the Manager shall provide a written notice of the meeting not less than ten (10) nor more than ninety (90) days before the meeting to each member .... provided, however, that if notice is given by mail, and the notice is not mailed by first class, registered or certified mail, that notice shall be given not less than twenty (20) days before the meeting..."

The notice I received was post marked February 20 and was sent by Lettermail. I believe in the parlance of Canada Post that Lettermail is the same as First Class. By either of the two above I believe the notice of meeting meets the requirements.

After having read the material in the link, I realize that I am way out of my depth in understanding what is happening. Hence, no comments other than "wow".

I don't know how long Kate Britton has been a Director of ARC. She is in her second year of this term, but I don't know if she had been director for any terms previous. A term is two years.

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

Ok. So the conditions of holding the SGM have been met (I'm not surprised).

I'm going to guess that by default, the majority of members are going to vote to accept the VI merger by virtue of apathy and by assigning their proxies to the board who have recommended the merger. I would question whether the Parsons are still on the ARC board (I don't know who was on your board to begin with but guess developers were there).

The whole Class B vs. Class A voting rights is a big issue - that's pretty standard wording when you have a developer involved because they would never the the "masses" control the ship. If they truly are in suspension for default of MFs, then hope you've eliminated that part of the equation but members are still likely to vote for the deal in the absence of having anything else.

I'd be going to the Monitor (Grant Thorton) and talking with that person to see if you could get more information about this other potential suitor. Can they give you any info about this suitor? What I couldn't discern from the documentation is whether the suitor is for all of ARG assets (so an entity solely interested in the real estate) or a timeshare party looking at the ARC assets and merging it with another TS developer. If it's the second, then two parties come to mind - Intrawest and Diamond - based on the comments about "quality". This is entirely my conjecture here so I could be way off base. If it's the first and is a party interested in the real estate, then they are looking at everything, including the 5% of points that constitute ARC.

There's definitely high stakes gamesmanship going on here, at a bigger level than what we faced since you've got a monitor involved as well as the courts. To one end, ARC is trying to say we have no relationship with ARG or at the very least, arms-length, while the Monitor and all other secured holders would say otherwise. Tough call and you need a real estate lawyer to provide you better insight on this portion

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

Aviawest

Hello. Yes we purchased on april 2, 2011. At the time we were never told of the financial problems. As well, we were told over and over again, that we had just purchased real estate and it would appear on our land title. Now that is a lie....

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

I posted this in the other thread on Aviawest, and there were some interesting comments made.

Posting this in this thread also for those who might have missed.

Some fascinating reading here;

http://www.grantthornton.ca/resource...029%202012.pdf

Start at about page 17.

It would be good if there was only one thread on this topic, and they were merged.

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

Replly to lesson learned

When i spoke with their lawyer on friday he said the two women, one of them being kate britton, are only members. But i don't believe it. I believe they were put in the position in order to take the heat off the directors/developers/owners and to make it look legal. My opinion only.

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

When i spoke with their lawyer on friday he said the two women, one of them being kate britton, are only members.

According to the draft minutes of the Annual General Meeting held on May 25, 2011, Kate Britton is a Director that was elected in 2010 and Elva Murdoch is a Director that was elected at the May 25 meeting. It appears the club members elect two Directors, and these are the two.

The Developer is permitted to appoint five directors according to the agreements.

Reading between the lines in the letter that was mailed in December to us concerning the change to collection of the fees, it appears that there are only three directors remaining out of the possible seven.

These three directors are the ones that are entitled to act on behalf of the Club (within the bounds of the Bylaws). Unless their actions are contrary to the Bylaws, they have acted in accordance with their responsibilities.

[outforever! Junior Member Find all posts View Profile Close outforever!]

Done with Aviawest!

TPELTON007 i hope you are going to the meeting on march 11 because we need a strong voice for us. Most of us do not understand what is happening and like a flock of ducks we paddle along in a row. In my heart I know something is wrong here. What if we go to the media? Could this be a way of getting help for me members. I have spoken to the superintendant of Real Estate, but they say they only work with new sales. The Real Estate council only works with real estate persons. So, I ask how many people signed up last year and had no disclosure given to them or put into writing about Aviawest financial cricis?
How many members can we contact prior to the meeting in order to get a no vote or at least hold off the vote until we all understand what is going on?

No we won't be attending any meetings or ANYTHING to do with Aviawest! We finalized all the legal paperwork with the notary last week. We lost almost $20,000 and feel very stupid for getting sucked in by some smooth talking sales professionals! Live and learn! Best of luck for anyone else attempting to escape the Aviawest timeshare trap!!

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

Atleast one member has not been notified!

The key words from the bylaws are;
"...the Manager shall provide a written notice of the meeting not less than ten (10) nor more than ninety (90) days before the meeting to each member .... provided, however, that if notice is given by mail, and the notice is not mailed by first class, registered or certified mail, that notice shall be given not less than twenty (20) days before the meeting..."

The notice I received was post marked February 20 and was sent by Lettermail. I believe in the parlance of Canada Post that Lettermail is the same as First Class. By either of the two above I believe the notice of meeting meets the requirements.

I purchased my membership in September 2011 on the secondary market. I have not been notified of any meeting. I just happened to call the owner liaison line with an unrelated question and the message mentioned a merger with VI. I came online and started to do research and came across this blog

Given that I have not been notified I can only assume that there are other members who have not been notified either. If only some of the members are notified then the requirements have clearly not been met. I still need to do further research but merging with a company that received a better business bureau rating of F is not appealing to me. It takes a lot to get an F so clearly this is not a good company. When I researched Aviawest prior to my purchase they had a rating of A+.

In any event the fact that not all members have been notified may be a way to delay the voting.

[deejay43 Junior Member Find all posts View Profile Close deejay43]

We purchased 60,000 points in August 2011 after being referred to the resort by our daughter and son-in-law after they had purchased a like amount in July 2012. My research on the internet brought up no red flags about Aviawest so we proceeded with our purchase.
During the presentation I did ask the salesperson to explain why Parkside (the cause of all this grief) had taken so long to complete. The reason given was that complications had arisen from the Platinum LEEDS construction designation aspired to by the developers. Having been familiar with LEEDS requirements (Platinum being the most stringent) I took the sales person at his word. It is now obvious that this was a huge lie but I would not be too quick to blame the individual who sold us this worthless boat anchor. The responsibility lies at the feet of the developers and the ARG Board of Directors.
In light of the information found on Grant Thornton's website regarding the timeline when ARG began to default on its interest payments, anyone who purchased points through 2010 and 2011 and even the latter part of 2009 may well have the basis for a civil suit. The growing insolvency was kept out of the public domain and was certainly not divulged during presentations for the timeshare club nor the fractional ownership. This constitutes breach of trust at the very least if not outright fraud but both would be difficult to prove, costly to litigate and unlikely to produce any benefit to the likes of ourselves and others in the same boat.