I was one of the 470 contracted members of Indies Suites. I am also one of the now 230 former members that filed suit to put Indies Suites into liquidation.
I have been silent for a long time awaiting a final decision from the courts. It’s been difficult for our group to remain silent when so many false comments have been made by former employees of Indies Suites.
A recent Cayman Net News article quotes Ms. Diana Cole several times. Many of these quotes directly contradict other statements made or published in the past.
I’d like to address a few for the record. Ms. Cole states that 177 former members supported the liquidation process. We actually have 230 members now supporting our cause and the number is growing.
When I signed my contract it was never stated to me that, should the building be destroyed by a hurricane, we would all lose our investment.
In fact, our contract stated that adequate insurance would be maintained to allow rebuilding. Would anyone have signed a contract if they had been told that it would never be honoured? I think not! Would Ms. Cole have expected us to sign a contract if it meant nothing? I think not! I certainly hope not.
Ms. Cole sold me two additional weeks just one year before Ivan hit. I paid more than US$10,000 for each room. I never did get a chance to use either of the new weeks. I owned a total of five weeks.
In total, I paid more than US$50,000 and planned on spending five weeks a year on Grand Cayman, enjoying the people, the food, the weather, the water and your beautiful beaches.
My contract stated that I had these weeks for 99 years – many years that my children could continue to share with their families long after I am gone. I did not purchase five weeks and sign legal contracts simply to say thanks, I guess you (Indies Suites) were just kidding.
We are being told to move on, take a split of the dollars currently being held by the courts and thanks for the happy memories. Well I have news for you. As Ms. Cole states, there are 470 former Indies members.
Many owners purchased more than one week. That equates to between 500 and 750 weeks that were actually sold. If we accept the dollars currently being offered, we get US$2,000 to $3,000 per week for weeks that members spent between US$10,000 and $20,000 for. If we choose to purchase time at another resort – or ‘swap’ as Ms. Cole states – our $2,000 to $3,000 won’t go very far toward the purchase of new property.
Also, why would any of us want to sign another contract knowing that the original contracts that we had weren’t worth the paper they were printed on.
Fool me once, shame on you. Fool me twice, shame on me. I believe that a person signs a contract because it has wording that protects both parties. Obviously, what I read and signed regarding the Indies Suites contract was bogus.
It should not and can not be that easy for someone in Cayman to walk away from a binding legal document.
Bottom line, we were lied to from the beginning. The resort was sold without telling any of the members. It was not only sold, but the Indies web site continued to tell the members that as soon as the insurance was settled, they would in fact, rebuild. If Indies required additional funds to rebuild, all they had to do was ask the members for help.
We are a close group and wanted to protect our investment. We were never asked to help out. Not even informed of the pending sale. We would have helped financially to rebuild what was a small piece of paradise that we were part owners of.
I would strongly urge Indies Suites to make a serious offer. One that we the contracted members can seriously consider. The current offer is an insult to my intelligence. But then, I guess I wasn’t very intelligent to sign the contract in the first place. Shame on me!