I didn’t bother attending the Annual General Meeting for the usual patting themselves on the back for the great work they do on behalf of the landowners of Union Bay. Remember this when you finally realize Board after Board has screwed this community and is going deeper into debt as each day passes. Boards gambling with your assets and putting them at risk. What benefits have been realized by Union Bay in the last 10 years or so?
A landowner brought this item to my attention.
Congratulations – you voted for another year of ”HIllbilly Ethics and Financial Ruin”. You are paying a mortgage on a property you bought but don’t own because someone screwed up. This is going to come down to the parties agreeing to take a loss. There will be no clear winner and a settlement will be reached. In the meantime the lawyer meters are ticking. UBID doesn’t have a case as the Board who is bringing the action wasn’t involved and UBID’s record keeping is rock bottom, so there won’t be any documents backing up their version of events. The previous board probably doesn’t remember what happened. Your only hope is for them to settle – quick, while you still have 59 %.
The full financial report: 2012 Consolidated Financial Statements – signed
