Status Report on Harbor Hill at Provincetown Case

[Warren Agin]

Dear Harbor Hill at Provincetown interval owner,

This e-mail will provide an update on a number of pending matters, and answer some frequently received questions. Please take the time to review it.

Returning the Termination Agreement Ratification Pages - a Reminder

Thank you to everyone who has already returned their ratification of the termination agreement.  I know many could not return the document in time because of the holidays, travel plans, or just because they wanted more information before signing it. Our January 9 deadline was a soft deadline, and we will continue to accept ratifications until we have the 80% approval needed under Massachusetts' state law. We do want to have all the ratifications in place by the end of January, if possible, so please don't delay.

If you have a question about completing the ratification, please contact NRC using the information provided on the form.

Court Approval of Sale Process

On January 4, Judge Feeney granted my motion for authority to enter into the termination agreement, my motion for authority to conduct foreclosures (where needed), and the proposed sale procedures. Bids to purchase the property will be due by February 14, the deadline for filing any objections to the sale motion is February 21, and a sale hearing and final auction will be held at the bankruptcy court in Boston on February 27. Formal notices will be sent by e-mail and by regular mail to all interval owners in a couple of weeks.

Haven't Received Mail from My Office? Send Me Your Address.

By now, all interval owners should have received mailings of different types from my office, NRC, or Marcus Errico. If you have not, please e-mail your current mailing address to harborhi...@gmail.com so we can be sure you receive future key notices in the bankruptcy case. 

Unclear Language in the Deficiency Notices.

Some of you received a deficiency notice from Marcus Errico in addition to the ratification package. Unfortunately, that notice included some language carried over from notices send in more typical deficiency situations. Please note that owners who sign and return the ratification DO NOT lose their rights as interval owners - they will still participate in the distribution of sale proceeds after appropriate adjustments for the unpaid fees.

Don't File Your Proofs of Claim Yet.

The deadline to file a proof of claim is almost three months from now, March 31. Most interval owners will not have to file a claim to receive payment, and additional information will be sent out well before March 31 about the status of the sale process and the claims process. Court rules require me to distribute notice of the claims deadline, but we prefer that people wait before filing any claims so what they do file is appropriate. Filing early claims will complicate the case administration process and increase the expenses of administration.

If you have already filed a claim with the Court, don't worry about it at this point. At a later point in time my office will be in touch with you about any issues with the claim.

Please Contact Us, Not the Court, With Questions.

Bankruptcy Court personnel are already overworked, and are not able to answer legal questions (including how to fill out a proof of claim form) or questions about the case process in general. Please direct questions about the ratification agreements to NRC, and other questions to my office at harborhi...@gmail.com. 

Regards,

Warren E. Agin

Chapter 7 Trustee