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Timeshare developer banned from sales PDF Print E-mail
Written by Sarah Shemkus, Cape Cod Times   

A judge in Suffolk Superior Court yesterday granted an injunction against timeshare developer Robert Reposa, effectively barring him from participating in the timeshare business in Massachusetts in any way.

A temporary restraining order with similar terms was imposed last week. Yesterday's decision means the prohibition will remain in place until a state lawsuit against Reposa is resolved.

The judge also granted a writ of attachment against Reposa's property in the amount of $1.5 million, the same sum the developer is accused of collecting from customers for timeshare units, which were never completed, at the now-defunct Navigator Beach Club in Dennisport.

Shannon Choy-Seymour, the lawyer representing the attorney general's office at the hearing, said that the state intends to specifically seek an attachment on Reposa's Nantucket property, a house on Pochick Avenue that is valued at $2.3 million, according to Nantucket assessors records.

Neither Reposa nor any legal representation for the defendant appeared at the hearing. Notice of the hearing was delivered to Reposa's Hingham home and received by his wife, Choy-Seymour told the judge.

In the state lawsuit, which was filed last week, Attorney General Martha Coakley accuses Reposa and his development company, LSC Associates, of failing to deliver promised timeshare units to more than 100 buyers, and later abandoning the project altogether without providing compensation to consumers.

Further, the lawsuit asserts, Reposa continued to represent the resort as a sound investment, even after the project had encountered significant financial difficulties.

LSC Associates — of which Reposa is the sole officer, according to state corporation filings — bought the property at 405 Old Wharf Road in Dennisport in 2004, obtaining a mortgage of $2.2 million from Community Bank, according to Barnstable County Registry of Deeds records.

The company began marketing units to buyers in 2005, promising that construction on the resort would be completed by summer 2007, the state lawsuit contends.

Buyers paid between $10,900 and $54,000 for timeshare units, according to the state complaint.

In 2007, however, unit owners were told that their units would not be ready for use.

By last summer, foreclosure proceedings had begun against LSC Associates.

The property was sold at auction in October.

Following yesterday's hearing, the case is now in the discovery phase, said Amie Breton, spokeswoman for the attorney general's office. No further hearings or court appearances are scheduled at this time.

The state is not the only party with complaints against Reposa.

Falmouth attorney Richard Reilly has said that he also plans to file suit against the developer on behalf of 25 consumers who bought timeshare intervals at the Navigator Beach Club but were never able to use their units. In total, these buyers paid Reposa nearly $600,000, Reilly said.

Also, an attachment of $1.75 million was filed against Reposa's Nantucket property by Lund Acquisition LLC, a company based in Hingham, according to Nantucket County Registry of Deeds records.

 

 
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