"The courts of Aruba declared KL Sales, Marketing and Management Company N.V, the management company of the Aruban Resort bankrupt on December 17, 2009. Two trustees have been appointed by the court to oversee the bankruptcy proceedings. The Aruban Resort is closed down until further notice.
At this time, we advise all future guests with reservations at The Aruban Resort to reschedule their visit and contact a travel professional for alternate accommodations. Aruba’s hospitality industry is always at the service of our guests, with the islands many fine properties available to reach out to displaced guests. Reservations can be booked directly through www.aruba.com. As a result of the bankruptcy status of the resort, and the fact that The Aruban is a privately owned company, no further information on this situation is available at this time.
For inquiries about The Aruban Resort, please contact the trustees appointed by the court of Aruba:
Law firm of A. Swaen N.V. Lawyer: Mr. Arie Swaen Address: Venezuelastraat # 17 Tel: (297) 582-1420 Fax: (297) 582-2013 E-mail: firstname.lastname@example.org
Law firm of Kloes & Partners Lawyer: Mr. W.G.T. M. Kloes Address: L.G. Smith Blvd. 22 Tel: (297) 582-4417 Fax: (297) 583-3246 E-mail: email@example.com"
"Hi All, So many questions being asked here. Today in theory all agree the resort is better if it is opened. Now there is a argument as to exactly has the rights of rentals. The trustees claim they have the right, the lawyers of the Mortgage Deed are claiming the right to run the resort.
It seems now all see the wisdom in opening the resort. The problem is that Wells Fargo claims the right to appoint the management company. They agree to use the same one as we presented the proposal on. The problem is, they want to do it on their terms and without be influenced by the Association. That I have a big problem with. The rights of ownership are protected an no one will take those away.
I say any agreement is to be done jointly with the asociation. This is only a temporary agreement and valid until the time of the General Meeting. My fear is that an agreement without the mention of the COOP and the Association could put our rights of ownership in jeopardy.
I hope that all parties come to terms with this soon. We have prepared a budget for the entire year of 2010. All parties have agreed that the rental fees can be used to supplement the Maintenance Fees. We have asked Aruba Investment Bank for a loan of $400,000.00 This would be backed by the collection of the Maintenance Fees. The prior year records of several comparable resorts including the Aruban, show that after 2 to 3 months, the resort should be stabilized. That the rental income will cover the expenses.
I hope this answers some of the various legal questions being asked. The unknown is the amount of maintenance fees already collected for 2010. When a general meeting is held, it will include additional legal claims on various holders of the ownership.
We are reasonably certain there are suffucient funds left to be collected that will allow the resort to function at least to a break even point. you have to weigh what your options are. To leave it closed, is at great risk to becoming another Bushiri.
The best option I see is to allow the agreement we have with Royal Resorts as a management company to allow to be implemented until the General Meeting. Once the existing Board is dismissed and a new Board is elected, that Board will hire the management company.
Nothing can be signed beyond the day of the General Meeting. I hope that the lawyers representing the Mortgage holder see their interpretation is flawed. That we as owners are not seeking control, only our rights of usage. That with our efforts not only do we get to enjoy our vacations, but provide jobs, and add equity for a potential buyer."
this was posted by John Cole last night on his site www.thearubanforum.com
looks like that royal resorts coming in to manage is a slam dunk as the new aruban website is up and running.
the aruba tourism minister has been very very instrumental in getting the resort back on its feet.
Quote John Cole :
"Hello All, was Today a busy day. the results, I feel they were somewhat favorable. The trustees do not have objection to the opening of the resort. There is a good reason to believe that the resort will open for guests by the end of the month.
The final paperwork is expected to be completed this next week. The details to employ at least a portion of the employees should also be completed. We have requested a bridge loan from Aruba Investment Bank. that will be assured by the fees of maintenace and incomes of rental. We are optimistic that the final results will occur by end of the next week.
Also all work for the General Meeting was completed. The date for this meeting is February 22, 2010 in 1 P.M. at the La Cabana Beach & Racquet Club Meeting Room. The alternate date will be two weeks later on March 8, 2010. It is expected that a quorum will be met in the first meeting. The trustees have the right of KL and only need to be present with no right to vote. The regulations require that more than 50% of the be present.
Finally, we launched a new website today. http://www.aruban-resort.com the convocation can be viewed there, It will be updated with additional information soon. I trust that most of you will find these as good news. I am sure that that Rip will be happy to answer any question that you may have.
We also expect that a new management company www.royalresorts.com will be named next week. As soon as this is announced they will invoice for all the fees of maintenance for 2010. They must be paid no later than February 15, 2010. There will be a secure number in the USA where you will be able to pay.
Thriugh all this Minister Otmar Oduber has been an inspriation to all of us, and particularly to me. If he is an example of the new government, Aruba is in for a bright future.
please read the convocation closely. all votes will be all important. This meeting was called under the ruling of the court. It was ruled that the existing Board did this, but they failed to follow the ruling of the Court and can possibly be held responsible for damages.
I expect another very busy week, and then hopefully will have some time to be relaxed and to enjoy Aruba with many of you.
Hola Todo, fue Hoy un día ocupado. los resultados, yo me siento fueron algo favorable. Los fideicomisarios no tienen objeción a la apertura de la estación. Allí parezca ser razón buena de creer que la estación abrirá para huéspedes para finales de mes.
El papeleo final es esperado ser completado esta semana venidera. Los detalles de emplear por lo menos una porción de los empleados también debe ser completada. Hemos solicitado un préstamo puente del Banco de inversión de Aruba que será asegurado por los honorarios de maintenace e ingresos de renta. Somos optimistas que espacio libre final en todo que estos artículos ocurrirán por el fin de la semana próxima.
También todo trabajo para la Reunión General fue completado la fecha para esta reunión es puesta para ser tenido el 22 de febrero de 2010 en 1 de la tarde en Playa de Cabaña de La & Habitación de Reunión de Club de Raqueta. La fecha alternada será dos semanas posteriores en el 8 de marzo de 2010. Es esperado que un quórum será encontrado en la primera reunión. Los fideicomisarios tienen los derechos de KL y sólo necesidad de ser presente con ningún derecho al voto. Las
regulaciones indican que más de 50% de las propiedades debe ser presente.
Por último, nosotros lanzamos un nuevo sitio web hoy. La convocación puede ser vista allí. También será enviado a todos miembros el principio de la semana próxima. http://www.aruban-resort.com que yo me fío de que la mayor parte de usted encontrará estas como buenas noticias. Estoy seguro que ese Rasgón será feliz de contestar cualquier pregunta que usted puede tener.
Nosotros también esperamos que una nueva compañía de gestión www.royalresorts.com será denominado la semana próxima. Tan pronto como que es completado, ellos participarán en el facturar para todos los honorarios de mantenimiento para 2010. La fecha tope es de ser pagado el 15 de febrero de 2010. Las Estaciones reales son la compañía de manamgement en Aruba para Costa Linda. Por favor teke el tiempo de hojear su sitio web. Ellos poseen 8- 5 estaciones de estrella en México y ahora desean una presencia más grande en Aruba. usted podrá hacer los pagos seguros por tarjeta de crédito a una cuenta en EEUU. Usted también podrá mandar un fax su poxies a un número de llamada gratuita en Aruba.
Por todo este Ministro Otmar Oduber ha sido un inspriation a todos nosotros, y en particular a mí. F él es un ejemplo del nuevo gobierno, Aruba tiene un futuro brillante adelante.
Lea por favor la materia de convocación de cerca. sus votos serán todo importantes. Esta reunión fue convocada bajo la sentencia del tribunal. Fue gobernado que la Tabla existente hace así, pero ellos fallaron de seguir la resolución del Tribunal y puede ser tenido posiblemente responsable de daños.
Espero otra semana muy ocupada, y entonces optimistamente algún tiempo para relajarse y disfrutar de Aruba con muchos de ustedes." end quote John Cole
We went by the Aruban last night and saw outside lights on all the floors. Had been dark all week. We wondered if some progress had been made after seeing it lit up. We're keeping our fingers crossed for all the owners.
[B]there has been lots of talk on www.thearubanforum.com
for all of the OWNERS it is imperative for you to be reading that forum and getting as much information as you can get AND to make an informed decision about the meeting......the vote.....the future