Boston, MA August 8, 2017
Title transparency and a successful outcome of timeshare restructuring are contrary to the interests of actors who live by exploiting timeshare owners. To muddy the waters and thwart the due process, at times they resort to trolling campaigns, complete with ethnic smears, misinformation and other innuendos.
In its efforts to report on the bankruptcy of Harbor Hill Condominium Trust, Gatehouse Media published a series of articles in their local newspapers (Provincetown Wicked Local / Cape Cod Times) where it inadvertently promulgated the trolled ethnic slurs and fake news targeting the repurposing process.
For example, contrary to a false report in the August 7 article, absolutely no special consideration was given to Lemonjuice Capital in the timeshare foreclosure auction. Lemonjuice competed against other bidders, often more than tripling the reserve and providing more money to the timeshare owners. Other successful bidders were the bankruptcy estate itself and a local real estate developer, Lexvest Group.
The article’s reference to Mr. Krakovsky’s ethnic background to pre-judge his business ethics was beyond pale. Gatehouse Media should retract its blatant ethnic slurs and editorialized quotes it attributed to the Bankruptcy Trustee Warren E. Agin and Provincetown city officials that were since refuted.
Alexander Krakovsky described the situation in more detail:
" When property is expropriated without due process, even for ostensibly socially desirable goals, everybody ultimately suffers. Not all players, however, want the property rights to be resolved in a due process because some timeshare stalwarts live by taking advantage of disinformation and muddled property rights.
For example, some unscrupulous developers engage in creeping expropriation by unjustifiably raising maintenance fees. Simultaneously, widespread “Viking Ship” schemes are built on cheating and pressuring owners to pay thousands of dollars in more fees to give away their property in order to free themselves from paying the high maintenance fees. The plotters usually end up in control of real estate for which they paid nothing at best, while consumers get cheated both coming and going.
Efforts to bring title and property values into the open are often met with bullying and misinformation.
Unwittingly, the press sometimes facilitates trolling without checking sources or even filtering ethnic, racial and sexual prejudice. For example, when we tried to clarify title and exercise ownership rights to timeshare properties in Ocean City, MD, the now-defunct developer/manager started a trolling campaign, involving fake news and ethnic innuendo. Thankfully, at the end of the process, the smears and innuendo were not believed. Owners of all affected properties made decisions regarding their properties based on economics and owner preferences rather than bullying and innuendo. Timeshare owners in Ocean City responded with numerous “thank you for your hard work” letters to Lemonjuice. Finally, no legitimate owner said that they came out worse off because of our efforts.
The Gatehouse Media publications picked up some of the same recycled slurs and misinformation in reporting about Harbor Hill. The only reason for the article to craft the “Native of Ukraine” innuendo was a thinly veiled ethnic smear to prejudice character and business practices.
Ironically, this ethnic smear is disseminated at the time when Ukraine is fighting the Soviet legacy of lawless misappropriation of property rights. This awful legacy is stifling its economy and civil society. My international advocacy has often focused on respect for property rights, highest and best economic use of property, and an end to illegal and unethical expropriations. Oddly, this is exactly what we advocate for the United States timeshare industry. "
Lemonjuice Capital can be reached on 240-561-9389
or through its website, www.Lemonjuice.biz