Posted at: 07/27/2010 6:30 PM
Updated at: 07/28/2010 10:50 AM
By: Beth Wurtmann

Timeshare owners worried about resort bankruptcy

CATSKILL - When Deborah and Randy Longtin bought a one bedroom timeshare at the Friar Tuck resort, they went on vacations and cruises in the Caribbean.

"They had a nice restaurant and you could have lunch outside by the pool. But those days are over," Deborah said.

Today the flags still fly, but the parking lots and hotel are empty, the grounds deserted. No more pool parties or bocce ball games. Friar Tuck resort is in Chapter 7 bankruptcy liquidation.

"Here it is six years later and we're potentially going to lose everything we've invested," said Randy.

That's to the tune of over $16,000. The Longtins are gearing up for a fight.

"We have to do something we can't take this lying down. We have too much to lose, we have too much invested here," Deborah said.

A bankruptcy attorney said when the assets here being liquidated, people like Randy and Deborah might be able to get some money back. Or, there's a chance a new developer could buy it and try to reopen the resort.

A manager of the time share units blamed the problems on the poor economy. While timeshare units are technically open for now, the Longtin's want to join with other owners to fight for their money, before it's too late.

"There are thousands of other share holders that feel the same way. We have to fight. We can't give up. At least if we walk away with nothing, we know we tried," Deborah said.

A bankruptcy trustee, Mark Ehrlich, told News Channel 13 that time share owners at Friar Tuck should contact the State Attorney General's office, and consider joining together in a class action lawsuit.