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06-06-2008, 03:46 PM
| #1 |
| Super Moderator Join Date: Nov 2007
Posts: 1,621
|  ch. 7 bankruptcy - 5/28 the first 3 posts in this thread are a summary of POSSIBLY owned properties, all the rest were definitely leased. (all information is public / open source) Mauna Lani Residence - Villages #425 (portofino) parcel 680220040019 owner LYNN,CHRISTOPHER G TR 5595 EQUITY AVENUE #650 RENO NV 89502 last sale $1,950,000 01/21/2005 05-012829 01/17/2005 Mauna Lani Residence - Villages #427 (continental) parcel 680220040020 owner TALLMAN,JEFFRY J SWERZBIN,HELENA SWERZBIN,MICHAEL 425 NW 10TH AVE STE 302 PORTLAND OR 97209 last sale $2,400,000 01/05/2007 07-002435 12/27/2006 Last edited by Kagehitokiri; 06-11-2008 at 06:37 PM. |
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06-06-2008, 03:56 PM
| #2 |
| Super Moderator Join Date: Nov 2007
Posts: 1,621
| signature Cabo San Lucas - villa la estancia Lake Tahoe - northwoods/truckee/tahoe donner Monterey - aptos/seascape resort Whistler - first tracks lodge portofino scottsdale - the rocks broadmoor - broadmoor/brownstone vail - west vail (cortina lane?) vail - arrowhead continental montecito - ? Last edited by Kagehitokiri; 06-11-2008 at 06:37 PM. |
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06-06-2008, 04:18 PM
| #3 |
| Super Moderator Join Date: Nov 2007
Posts: 1,621
| portofino cabo - Casa Brisas cabo - Casa Portofino tahoe - Northstar Condo (great bear lodge #4506) snowmass - sanctuary owner for all 4 - Name: Kristen Plante / Phone: 303-790-9404 thats the number for portofino club Greenwood Village Official Website! so theyre renting (at least) those 4 for income, even though they said theyd only rent continental properties. one could find out if they own those 4 properties by calling kristen and asking if they are interested in selling.  Last edited by Kagehitokiri; 06-11-2008 at 06:40 PM. |
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06-11-2008, 05:44 PM
| #4 |
| Junior Member Join Date: Dec 2007
Posts: 4
| chapter 7 bankruptcy filed for on may 28 According to Halogen Guides (I'd post link but not yet authorized). Sorry you got caught in this mess, DMoving. |
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06-11-2008, 06:26 PM
| #5 | |
| Super Moderator Join Date: Nov 2007
Posts: 1,621
| Re: Breaking news - chapter 7 bankruptcy UPDATE. Breaking News: Portfino Destinations Club Files for Bankruptcy | Halogen Guides Real Estate - Luxury 2.0 Guides and Reviews Quote:
thanks halogen for the reporting. (good summary AmyG) thanks Skidmark for the heads up. | |
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06-11-2008, 06:36 PM
| #6 |
| Senior Member  Join Date: May 2008 Location: Denver
Posts: 146
Club: Quintess | re: ch. 7 bankruptcy - 5/28 Apparently all of their homes were leased...bad juju.
__________________ Michael Aumock Director, Membership Development Quintess, The Leading Residences of the World |
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06-11-2008, 06:39 PM
| #7 |
| Super Moderator Join Date: Nov 2007
Posts: 1,621
| re: ch. 7 bankruptcy - 5/28 thats what the filing suggests. i listed properties in the first 3 posts that i was not sure were leased. heres one hypothetical - some of the properties were donated by members, and returned before the filing. so they technically owned them until the filing. and another - maybe they sold off some assets already. heres hoping for a reasonable outcome for the current members.  |
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06-11-2008, 06:45 PM
| #8 |
| Super Moderator  Join Date: Nov 2007
Posts: 1,020
Club: ER, HCC Corporate, DHH Lite, Bud Lite (A few too many) | re: ch. 7 bankruptcy - 5/28 They filed chapter 7, which is worse than chapter 11 which was T & H's. |
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06-11-2008, 06:47 PM
| #9 |
| Senior Member Join Date: May 2008 Location: Denver
Posts: 146
Club: Quintess | re: ch. 7 bankruptcy - 5/28 That makes sense Kage, about the members donating and getting them back... We all knew this was coming sooner or later, but that doesn't make it any better for the members who got caught or for the DCs who are trying to do things the right way.
__________________ Michael Aumock Director, Membership Development Quintess, The Leading Residences of the World |
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06-11-2008, 06:59 PM
| #10 |
| Junior Member  Join Date: May 2008
Posts: 17
| re: ch. 7 bankruptcy - 5/28 How many member are/were in the Portofino DC? |
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06-11-2008, 07:01 PM
| #11 | ||
| Super Moderator Join Date: Nov 2007
Posts: 1,621
| re: ch. 7 bankruptcy - 5/28 Quintess Michael, i dont really know, i was just offering some thoughts another mod and i had previously. i hope jim tousignant 's symposium numbers were right, if so that would mean about half the portofino members left already. > Quote:
kind of like DMoving's post here > issues with The Portofino Club / Pinnacle Equity and also like Shaircraft in the private jet market > http://jets.halogenguides.com/articl...ivate-aviation Quote:
Last edited by Kagehitokiri; 06-14-2008 at 05:40 PM. | ||
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06-12-2008, 02:19 PM
| #12 | ||
| Super Moderator Join Date: Nov 2007
Posts: 1,621
| Re: ch. 7 bankruptcy - 5/28 Portofino Files for Chapter 7 Bankruptcy - SherpaReport Quote:
Quote:
Lawsuit filed against Portofino - February 15, 2008 Last edited by Kagehitokiri; 07-06-2008 at 12:16 AM. | ||
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06-12-2008, 11:15 PM
| #13 |
| Senior Member Join Date: Nov 2007
Posts: 513
Club: A&K Residence Club | Halogen Article on Portofino Nice synopsis from Halogen on the Portofino bankruptcy. Destination Club Portofino Club Goes Bust: What Went Wrong? | Halogen Guides Real Estate - Luxury 2.0 Guides and Reviews An example of the long term damage that occurs when a DC is undercapitalized and/or has artificially low dues and deposits. |
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07-12-2008, 12:07 PM
| #14 | ||
| Junior Member Join Date: Jul 2008
Posts: 9
Club: Portofino | Re: ch. 7 bankruptcy - 5/28 Quote:
Quote:
Any member that did leave did so without their memb. dep. Unfortunately, when there are problems any sane member is not going to try to publicise them because by doing so they put their deposit more at risk. By the time the signs of a problem show up on this forum it is way too late for the members. | ||
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