November 1, 2019 Email
Plan to Recall/Replace Entire KBV Board in the Works
Recently, KBV Owner and former Board Member, Trish Harrington, forwarded a Demand for Action letter to the KBV Board, demanding that they conduct an election of the Members to decide if the current Plan Manager, Grand Pacific Resorts, should be retained as the Management Company for KBV. The response from the Wyndham-controlled Board…. ABSOLUTELY NOTHING!
As the KBV Board continues to ignore all requests and demands from the KBV Owners, in spite of a growing, near unanimous outcry from their fellow Owners, a number of KBV Owners have organized and are moving forward with a strategy to REMOVE the entire current KBV Board and vote in five new KBV Owners to replace them. The good news is, our KBV Governing Documents clearly provide for this type of action and it can be accomplished by a) getting 5% of the KBV Owners to sign a petition to call a Special Member meeting and, b) a simple majority vote of the Owners to remove the Board members during that Special Meeting. If successful, an election will immediately follow to seat new Board Members to the vacated seats.
We are extremely confident in our ability to receive a 5% petition from our KBV Owners as responses to recent SaveKBV communications (Brian Reichel’s Demand Letter, Jeff Bellin’s Cease and Desist Letter, etc.) have received almost 10% responses of support from the KBV Owners. An actual election to remove the existing Board will be a bit more challenging as, we all know, Wyndham owns about 22% of the KBV inventory (about 1,100 intervals). Of further concern, since the Wyndham controlled Board took over 5 months ago, we know they re-entered into agreements with Wyndham to sell them the resorts owned inventory. As a result, we can only assume that the number of KBV intervals that Wyndham owns is likely growing.
On a positive note, we have closely tracked the responses to our E-Communications to the KBV Owners and over 98% (yes, you read that right) have expressed their support for our opposition to Wyndham in their attempts to take over our resort. Less than 1% of the responding Owners have expressed support for Wyndham. So, while Wyndham’s 1,100 votes stakes them to a lead in a recall election, if we can compel just 30% of the remaining KBV Owners to vote for the recall, we believe a vote to throw out the current Board (and seat five new, objectively-minded Board Members) is achievable.
IMPORTANT: Next week, you will receive from us the formal petition to call a Special Member meeting for the purpose of recalling and replacing the entire KBV Board. Please keep an eye out for the petition and be sure to sign on when you receive it.