Gurney's Timeshare Owners Inc.

... a not for profit corporation to educate, inform and share information about our resort Gurney's Inn Resort and Spa, Inc

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This site was started by Gurney's Timeshare Owners, Inc. a not for profit corporation to educate, inform and share information about our resort Gurney's Inn Resort and Spa, Inc. It's purpose is to begin the process of organizing the timeshare owners so that we can enforce our rights to full disclosure and obtain an independent board of directors.

Gurney's has one of the most beautiful beaches in the world. Sitting on the deck, listening to the surf, walking on the beach or fishing is restful and relaxing. It's our little bit of paradise at the tip of New York. The indoor pool is a great place to workout and the spa has every amenity imaginable. There's no place like it. It's Gurney's Inn and we love it and hope to enjoy it for many more years to come.

Gurney's Timeshare Owners

WHAT I KNOW...

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August 8th, 2013 

 
Dear Class A Owners;

I was out at Gurney's a few weeks ago, in fact the week that the Beach Club opened up.  While some people are complaining I did not think it was anything offensive. I thought it was nice and I am dying to try it out.   It is  a small area set up to the right of the lifeguard stand and  is approximately in front of the last cottage.  It is open to anyone who wants to rent the beds etc.  so it does not exclude timeshare owners if they want this luxurious option.  If it had been in front of the Foredeck or Forward Watch people would have complained because I imagine if you stay in one of those buildings you would want to be near your unit. Judge for yourself when you go out there and don't let people rile you up for nothing.  Just as an aside, for many of us who do not come in high season, we never get chairs, umbrellas, the beach bar nor a lifeguard and we do pay the same maintenance as all of you.

Also, on the Thursday morning at 9 AM there was a complimentary continental breakfast for the timeshare owners.  It was well attended and Linda Benjamin, George Filopolous, and I were there along with the usual cast of characters.  I think George is trying to attend as many as he can in order to meet the owners and answer their questions.   I think, at least for now, this will replace the Tuesday tea at 3 PM which disrupted the whole day. 

During this meeting there were a lot of questions and George spent a lot of time answering them.  At the meeting no one complained about the Beach Club but they had questions about the cost etc. Everyone seemed quite happy and Linda has said the same for other meetings that she attended.  I think 290 Old Montauk has spent a lot of money so far and George intends to do much more.  I would highly recommend that you attend this breakfast during your week.

As to closings for people who selected options 1 and 2 I really know nothing.  I can guess that the the delay is caused by the attorneys but I presume you should hear something soon.  Unfortunately, there is a lot of paperwork and the employees are very busy in high season.  That is all I know.

I have also received emails from owners this summer saying what a pleasant experience they have had.  May we all enjoy our time and be thankful that we no longer have to worry about our maintenance rising and special assessments for any improvements, damage or shortfalls.

Pat Boffa, President GTO
 

A NEW BEGINNING, A NEW START, GURNEY'S NEXT CHAPTER

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June 5, 2013 
 
Dear Fellow Gurney's Timeshare Owners, 
 
It is with great pleasure that I write to inform you that the transaction between Gurney's Timeshare Owners, the various parties at Gurney's Inn Resort & Spa, and 290 Old Montauk Associates has been successfully completed and the terms and conditions of the Memorandum of Understanding (MOU) are now in effect. 
 
On May 29, 2013, the door to Gurney's past was finally closed and the door to Gurney's future was, at long last, opened. It is now time for all of us to take a deep breath, step on through and start a new chapter in Gurney's life story.
  
Immediately prior to the closing: 
Tom Carusona resigned as a director and President of Gurney's Board and the remaining Board members elected George Filopoulos to fill the vacancy; and
John Kearney resigned as a director of Gurney's Board and the remaining directors elected Donald Olenick (a 290 Old Montauk representative) to fill that vacancy.
Thereafter, the Board met immediately. The first order of business was to constitute Gurney's new officers on the Board:  George Filopoulos was elected President, Donald Olenick, Vice President and Treasurer and Linda Benjamin, Secretary.
  
The next order of business will be to correct improper maintenance billings to refund and reverse
Read more...
 

Special Shareholder Meeting - April 26, 2013

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Dear Class A Timeshare Owners,  
 
Linda and I are pleased to announce that the meeting was held 
and betweeen the ballots at the meeting and your prior
proxies, you overwhelmingly voted for the deal with 290 Old 
Montauk, LLC!  Mr Filopolus announced the closing with the 
Trust would be next Friday.
 
Best regards to all,
Pat Boffa and Linda Benjamin
 

CLOSING UPDATE

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May 15, 2013 

Dear Fellow Gurney's Timeshare Owner:

We apologize for not responding to each of you sooner, but we expected the closing between the Gurney's Inn Liquidating Trust and 290 Old Montauk Associates, LLC to happen almost daily for the last several weeks and were hoping that our next communication would be to congratulate all of us on the successful transaction for which we overwhelmingly voted.
As we have been saying for years, and now to which all of us can attest, Gurney's is a unique animal with many moving parts, all of which have been, and continue to be, quite complicated at times.
It is only fitting that the next chapter for Gurney's, which 87% of the timeshare owners agreed upon, would also face last minute complications which have resulted in what are, objectively, modest delays but to us have felt like an eternity. We are sure you feel the same.
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CLARIFICATION OF RECENT EVENTS

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April 16, 2013
Dear Fellow Gurney's Timeshare Owners:
Some of you have reached out to ask me for an explanation of recent correspondence you have received from HFZ Capital Group and Gurney's corporate counsel, Robert Creighton. Some were confused as to what was being offered by HFZ and how it affected the proposed transactions already approved with 290 Old Montauk Associates, LLC., George Filopoulos' company.
Regardless of what, in my view, are ambiguities and shortcomings in the HFZ proposal, which was submitted to me late on April 4, 2013, the facts are as follows:
  • our current deal with 290 Old Montauk was overwhelmingly approved by over 1700 timeshare owners who have already executed transaction documents and is set to close;
  • 290 Old Montauk has a firm deal with the Trust;
  • Settlement Agreements between the parties have been signed and are in escrow;
  • the Special Meeting of Shareholders has been scheduled for April 26, 2013;
  • Notices of the Special Meeting have already been sent out by Gurney's;
  • and the closing is set!
Notwithstanding the foregoing, I would like to call your attention to the following with regard to the HFZ proposal:
1. It is not an offer to purchase your interest as a Gurney's timeshare owner; it is an offer to purchase “substantially all of assets owned by Gurney’s.” It does not explain what
“substantially all” means.
Read more...
 
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