We recently met with an owner of points in Vacation Internationale. When upgrading his ownership interest from a term of years to perpetual, representatives of Vacation Internationale advised that it owned the various vacation properties in fee simple. Based on information obtained from a former VI employee, it appears that this was a material misrepresentation and VI does not own many of its properties.
We are actively investigating this apparent fraud. If you purchased points or upgraded your points prior to 2006, we would like to speak with you. Washington has very strong consumer protection laws and a special statute designed to protect time share purchasers.