My understanding of the Cay Club Litigation
One of the most common questions about the Las Vegas Cay Club is about the litigation. Here is the link to the current statement by the HOA’s management company, Eugene Berger. Their number is 702-873-3071 if you want to ask more questions.
Here is my understanding; Cay Club the “Developer” flat out screwed the current owners in many ways. They also did not turn Cay Club the “HOA” over to the owners as they should have when a majority of the units were sold. Many owner have filed suit against Cay Club the “Developer” and at the time of the suits the “Developer” also controlled the “HOA” so there fore many suits were filed against Cay Club the “HOA” at the same time. I’m sure this is an attorney strategy but at the time there was very little separation between the two.
In June of 2008 the home owners successfully elected a new board comprised of five new members. So in effect the owners that are suing the “HOA” are now suing themselves. I believe that these type of suites should be dropped in the future, at this time there is not much point.
I have heard rumors of other suits involving the “Common Area” issue but at this time I do not know of any that have been filed.
I hope that owners understand that by allowing their attorneys to file suit against the HOA they are only hurting themselves by adding additional liabilities and expense to defend such suits onto the HOA’s balance sheet! This type of suit also impacts value and makes it harder and harder for new and existing owners to get new financing. If you are an owner and you’re reading this please think twice before you sign up to spend your money suing Cay Club the “HOA!” Sue Cay Club the “Developer!” The property in Las Vegas did not cause you harm the crooks in Florida did!!!