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cbbiern
Joined: 29 Dec 2008
Posts: 2
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 Posted: Wed Jan 28, 2009 1:50 pm Post subject: Lawsuit resolution - Funds available? |
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Has there been any recent news about funds release/disbursement from the lawsuit settlement. The recent visit post that indicates the Castle is still in need of cosmetic (and maybe other) repairs remains a concern for all owners. When will the money free up so work can get going.
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admin
Site Admin
Joined: 13 Dec 2008
Posts: 9
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| Posted: Sat Jan 31, 2009 5:40 pm Post subject: Lawsuit settlement |
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The 3 associations , Hilltop, Villas III, and Villas I have received the funds from Equivest St Thomas. Any questions you have should be asked to your boards as to amount and when they are going to get started.
PP was not involved in the case as the previous boards decided not to get involved. PP did receive about $662,000 after Ira and Darrin requested the Bankruptcy Judge to intervene.
PP is still waiting on the Kosmas and Cavanaugh settlement. The other 3 associations have received $450,000 from Kosmas.
Dick Cornell  |
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Tina
Joined: 29 Dec 2008
Posts: 13
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| Posted: Sat Jan 31, 2009 7:52 pm Post subject: |
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Dick do you know if that $450K is each association or a total to be divided 3 ways?
_________________
Tina
week 8 Castle - week 9 Beach Club |
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