KBV Owner Group Chooses to Postpone the December 18 Special Meeting… For Now.
The KBV Board of Directors filed a lawsuit against its Plan Manager, Grand Pacific Resorts (“GPR”), in an effort to prohibit the KBV Owners from holding a Special Meeting on December 18, 2019.
This is one more example of the KBV Board of Directors ignoring the will of the KBV Owners in favor of Wyndham. The KBV Owner Group have complied with the law, the Bylaws and the CC&R’s in demanding a Special Meeting. The Notice of the Special Meeting is absolutely lawful. However, the lawsuit will likely be settled as GPR is leaving the resort on December 31, and understandably will not litigate over whether the KBV Owners are entitled to conduct a Special Meeting.
The KBV Owner Group, who arranged for the Special Meeting, has chosen to postpone the Special Meeting to address some of the legal concerns of the Board of Directors and will seek a Demand for Arbitration against the Board of Directors.
To reiterate, the Special Meeting scheduled for December 18 has been postponed for now. We will keep you informed!