Nov. 20 deadline for US RCI objection letters

Started by Carolinian, October 29, 2009, 12:46:25

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Carolinian

For US RCI members, your letters of objection to the ''settlement'' of the class action lawsuit over rentals must reach the court by November 20.  The judge has expressed concerns over the so-called settlement, which is better described as a sellout by the class action attorneys who would walk away with $1.7 million for their treachery.  The objectors are now better organized with their own attorney to argue against the acceptance of the settlement.  Every letter sent will strengthen their hand.  There are more details on the Exchanging board at the US-based TS site www.tug2.net
 


Carol

Hi, I'm from New York and own 19 timeshares including fixed-deeded weeks, one "floating" week, and some RCI and Wyndham-Fairfield Points. I have been working closely as a volunteer with fellow TUG members on a project that many consider to be vitally important to all timeshare owners, and indeed the future of timesharing.

If you have been an RCI Weeks member at any time between January 1, 2000 and August 31, 2009 (even if you are not a member now), you are automatically a member of a class action lawsuit pending in the U. S. Federal Court in Trenton, New Jersey.

RCI is accused of removing highly desirable weeks that were deposited by members into the Spacebank, and RENTING them to the general public, often times at a price that is lower than what the owner pays in annual maintenance fees. RCI admits to doing this but claims it has the right to do so.

The attorneys who started the lawsuit in 2006 have made an agreement with RCI's attorneys to settle the case, but it must be approved by Judge Peter G. Sheridan at a "Fairness" Hearing to be held on November 30, 2009.

The proposed settlement is considered by most RCI Weeks members to be very unfair.

If you are a member of the class and do not like the proposed settlement, you are urged to send an objection letter to the Court. It can be as simple as one sentence e.g. "I object to the terms of the proposed settlement". It must be postmarked by November 20, 2009.

For information about how to file an objection go to: http://tinyurl.com/Informational-Instructions (Informational Instruction # 6)

Hundreds of timeshare owners have already filed objections. If a large number of objection letters are received by the Court, we are hopeful that it will lead to a better settlement.

You also have the right to separately file a claim for ONE of five special one-time benefits being offered in the Settlement. You can file a claim on-line at: http://www.weeksprogramsettlement.com/ Or you can do so by mail no later than November 20, 2009.

You may apply for the special benefit whether or not you choose to file an objection to the settlement. It is not an either/or situation. If you are no longer an RCI member, you may claim a $15 payment. Current members have other options.

For additional information about this lawsuit, there is a long discussion going on at the Timeshare Users Group (TUG) "Exchanging" bulletin board/Forum: http://tinyurl.com/TUGbbs-Forum-Exchanging

Please consider passing this information on to any other timeshare owners you know.

Many TUG members are printing out the Form Letter and instructions at http://tinyurl.com/Informational-Instructions and offering it to people they meet while on timeshare vacations

rik14

Ok Carolinian if i am going to be a poacher turned gamekeeper this is a good place to start the men you and the class action lawyers or their replacements need to find are Dick Wheeler or/and Don Benzoni last i heard Don was in Florida and ask them if they still have records emails etc on a certain holiday club which in the uk was based in Scotland i did have a copy of one key email but that was lost in a separation of myself and my lady.
Knowing the gentlemen as i do they may well look for some consideration in return for evidence or being old school may not be willing to help at all but just the names may help if you can delay this horrible deal in having your lawyers ask RCI for discovery info and ask of RCI Europe as well as i know a lot of stock was moved that side.
It is my belief that RCI with RCI Europe have created a confusopoly between weeks and points that disguises the sheer scale of the looting of prime rental weeks that unless you have a starting point would defeat the best of forensic accountants.
I do have a few more snippets of info but dont feel i can post them in public.
What i can post to cheer us all up is a couple of quotes from John Spence in his acceptance speech on his induction into the RCI hall of fame, this took place at a dinner hosted by Cendant in Paris shortly after they bought RCI when Mr Silverman and his executives discovered why John had not been allowed to give a conference speech for more than a decade.To put in context i am sharing a table with Roy Perez Jerry Graber Anton Tardif Guy Aston Peter Hutchinson one of the americans and Fred Fogg.Cendants share price had dropped sharply as they were under investigation over some accounting issues so i give you Johns opening line [ I am truly grateful  to be welcomed to the RCI Hall of Fame by Cendant or should that be Decendant ] this provoked much mirth a little wine having been taken compounded by the look of sheer horror on the face of the American V.P. assigned to our table.John continued in a similar vein for 20 minutes and i will finish this post with his closing lines [ I understand that Henry and I have much in common including a rather deprived childhood as our families were not wealthy and could not always give us what we really wanted on Birthdays and at Christmas so gentlemen and ladies charge your glasses please, I give you a toast to Crystal DeHaan who has helped Henry Silverman get what his heart truly desired on his 7th Birthday,his very own Cowboy Outfit]
I leave you to imagine the following chaos
Richard Jones rik14

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