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I've tried 3 time to post a reply on the ILX thread but it doesn't seem to work.
here what I tried to post:
Originally posted by Bill4728
From the TUG BBS
No ILX banhruptcy
Problem is with the resort : Rancho Manana
Originally posted by Premiere Vacation ClubView Post
Please allow us to correct a misunderstanding and incorrect information disseminated by Steve in his posting of August 27, 2008 at 12:05 AM. Premiere Vacation Club is not in bankruptcy. The developer of the resort, Rancho Manana Ventures, filed bankruptcy on August 13, 2008 owing substantial amounts to the Rancho Manana homeowners association. The developer is not affiliated with Premiere Vacation Club or with ILX Resorts in any way. Premiere Vacation Club is current in, and has in fact prepaid its obligations to the Rancho Manana homeowners association.
However, without the substantial funds the developer owes the HOA, the resort will be unable to remain operational. The HOA and the developer advised Premiere Vacation Club and ILX Resorts on August 20 that it could not guarantee that the resort would remain open beyond August 24, 2008. ILX immediately advised Interval International of the situation and Interval elected to notify and relocate its in-bound exchange guests. Premiere Vacation Club also began relocating its owners with near term reservations at Rancho Manana to other locations.
We are certainly disappointed that the developer has failed to meet its obligations to the homeowners association. While the resort does remain open as of today (with a significantly pared down staff), there is no assurance that it will continue to do so, or that the service level and guest experience would be appropriate.
We look forward to the restoration of full operation upon resolution of the developer’s financial issues.
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