Reference Owner’s Forum December 28, 2007.
Mr. Rufa advised that legal fees to date to pursue the Blackbeard’s Bar dispute were $2,000. That is a curious statistic in light of the fact that Legal Fees spent by Rufa Board’s total $126,496!
The breakdown taken from financial statements is as follows:
FISCAL YEAR ENDING JULY 31st
AMOUNT SPENT
2004-2005 18,322
2005-2006 36,236
2006-2007 51,529 (+ Awards 4,544?)
2007-Nov 07 8,553
O/S Legal Accts Pay 11,856.08
Were these expenditures necessary and smart? Why was it necessary to spend $126,496. on legal fees??
Response to ALL OWNERS Ms. Beth Stengel COMMENTS AND QUESTIONS
I agree, In my view, it is absolutely improper and unfair to other volunteers. Additionally, owners ought to be concerned about the fact that, Mr. Rufa does not “walk the talk.”
In Mr. Rufa’s spiels, he professes strict adherence to the governing documents but in actual practice ignores them, manipulates them or misinterprets them. Please consider:
The Coral Beach Governance Guidelines clearly state that a Nominations Committee be established early, by March if possible. The structure of that committee is defined. It is specified that it have no directors. The reasoning for this of course is obvious. WE DO NOT HAVE A NOMINATIONS COMMITTEE. WHY?
It is a legal requirement to produce and publish minutes of meetings. This Board under Mr. Rufa’s leadership does not. Why?
I mean no offence to Mr. Hardy but having the current Accountant / Bookkeeper also act as auditor is really improper and inadequate separation of duties. It is stretching a point to say that he was not the bookkeeper during the audited period which I have accepted reluctantly. As someone wisely commented, “it is like going to the same physician for a second opinion.” Why?
Owners have the right to inspect the accounts as clearly specified in the governing documents yet this Board and Mr. Rufa in particular does not allow it. Why?
I have recently learned that Coral Beach Management Ltd have not paid our bills. This is a prime responsibility of the Board as directed by the governing documents. We have an outstanding Accounts Payable of $11,856.08 with Callenders & Co. Why does this Board embarrass owners by not paying our bills?
Just a closing thought paraphrased from the USA Presidential Campaign which I think is applicable to Mr. Rufa and the Board (who is culpable because they allow it) is: “Owners are told what they want to hear not what they need to know.”
Ted Mulvihill
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6 comments:
Bruno/Phil & BOD (by conceding) are GUILTY as charged with a gross dereliction of their duties to Coral Beach Owners, Their Reputations and Their Assets.
(In the States they would have been slapped with injuctions and lawsuits long ago)
I am encouraged that more Owners have realized that there is a deep routed problem that must be addressed.
I now believe our attention should focus on the Proxy/Votes and proccess.
1.) Under what guideline will Votes be allowed? (I've heard a bunch of different should'as ... why would I trust Bruno this time?)
2.) Who will count/approve the votes? (Bruno's Buddies ... how about a couple of known Bruno opponenants being allowed to observe/participate)
3.) I would ask that an accounting of votes that were dissallowed and for what reason be required (large discrepancy/questions in last years voting and count).
Your Votes count, demand they are counted the way you intended.
This information should be deeply disturbing to all owners who care about their future at Coral Beach. In Dr. Susan Roche's post in January, the grand total of capital infusion to Coral Beach since Bruno, Phil and current board have taken control of Coral Beach is over $2,430,000.00 ! So where did it all go? Unfinished roofs and terraces, hurricane repairs unfinished; leaking apartments and no accounting of money spent. What do we have to show for all the money spent? Some paint, some store rooms, some tile, some palm trees, some banana trees, fences, used furniture for the lobby? Can all of the above possibly add up to $2,430,000.00 ?
The true picture of what is actually going on here should be starting to come into focus, Coral Beach Owners. What happens next is up to you. You and you,alone, have the collective power to stop the potential take-over of your property. If you think that by going-along-to-get-along will protect you and your investment, think again. The only way to protect your investment is to stand together and vote as a block to replace the current Board with a new board who can bring proven skills and resolve to turn this situation around. Remember, there is safety in numbers. It is all up to you now. This year's election will demonstrate to all who are watching if the owners at Coral Beach have the courage and backbone to stand up and take back control of their property.
I have another "why" to add..
Just received my proxy envelope in the mail and there are no resumes included for any of the candidates. I'm not surprised that the current board didn't put in resumes but I know that the new candidates have.
So, in that packet we have Bruno talking about how wonderful his candidates are but nothing at all on the newcomers.
It's just not fair. At least I have the benefit of this blog and can learn about the candidates but how many other owners are out there without computers or without access to this blog.
How can they possibly make an informed choice without these resumes????
Concerned owner
I am up to here with the no answers. As an owner does anyone know if I can sue a board member individually?
I don't want my Coral Beach maintenance charges to go toward there attorney fees?
Would someone who knows what they are talking about, comment on this please.
This is one of the questions I understand that was put to Legal Counsel by other Owners - we all await sight of Ms Dennison's legal opinions that have been in the Board's hands for at least 10 days.
RE: sue the Board
A legal opinion was obtained from another lawyer in Freeport and the answer is, yes Board members can be sued individually for malfeasance and misfeasance. There is nothing in the Articles or in the Law of Property Conveyancing(Condominium) that protects them from being sued for wongdoing.
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