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Rainbow Beach Club
SOAB, ROB, Rainbow, Aquarius, Indigo etc etc
Recently there have been a few disparaging comments made here about the site that I have deleted, not sure if they come from the same person or not, but it matters not. Basically, if your comment is all about putting SXM PE down then don't bother, and to those who do like the site, we could do with you making a comment or two now and then.
Whatever you think of SXM PE, time an again we have shown that we were on the ball. The latest news about Rainbow and possible building without permits was covered 3 and a 1/2 years ago by Flipper, and I wrote about the related story of Aquarius investors seeking refunds just over 2 years ago, Those are just 3 of many blogs about development and irregularities over the past 4 years, you can find them all in the Development and Destruction list on the right hand side bar. (Click the little plus sign for a list.)
Court forces Aquarius to void sales contract; Another real estate project gone to seed
In July of last year, a letter surfaced on the internet written by Rainbow Beach Club managing director Marc Erato to owners at the timeshare project. It preached gloom and doom for the real estate market. “A further indication of the current gray picture, presently on St. Maarten, is the collapse of the enormous Indigo Bay project in Cay Hill and the closure of the grandiose Barbaron Development at Belair. The Cove at Cupecoy was also forced to return the few deposits they received. The lack of purchase interest at their development forced them to close down shop,” Erato wrote at the time.[More....]
“Break it down, break in down”: Rainbow Beach Club under fire -Angry condo owners want action
SXM Chronicles - Angry owners at the Rainbow Beach Club in Cupecoy wonder who they are really doing business with, and they are crying foul over a recent court ruling with regard to maintenance fee hikes. They also claim that the Tennis Resident Unit, a building that houses a parking garage, a tennis court and about 26 units, was built without a permit. They are now taking action and they want to see the illegal structure demolished.
Jim Cummings and Alice Jones, two of the disgruntled owners at Rainbow Beach Club presented this newspaper with evidence they obtained from the Chamber of Commerce about a series of companies linked to the property. “We are asked to make payments available to Rainbow Beach Club,” Jones says. They use a whole lot of names, like Rainbow Beach Club Co. Ltd, Rainbow Beach Club Management Ltd., Paragon Holdings, Oban, and Sabra. Our question is: will the real Rainbow Beach Club please stand up?”
Rainbow Beach Club tenants cry injustice
The Daily Herald - CUPECOY--Cheating the local community by destroying its coastline with rusty buildings and pocketing unaccounted-for monies is how some Rainbow Beach Club tenants have described their living situation and relationship with Rainbow management.
Rainbow Management was taken to court in April and an interim judgement was handed down on May 15, pending June 30 when the judge will visit the property to evaluate tenants’ complaints concerning allegedly unaccounted-for maintenance fees, incomplete construction, insufficient maintenance and prevention of the use of common areas.
Somewhere over the Rainbow II
Back in February 2006 I wrote a blog post about The Rainbow Beach Club and how questions were being asked about it's construction. Front Page today in The Today the Rainbow owners are demanding answers.
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Badda Bing to you too!
It's been no big secret that very little scrutiny is given to big money investors in SXM, so todays article in the Today about the Rainbow Spat between the Erato Family and a Mr. Iodice is no surprise either. I can't find it, but it has been mentioned on here before that there is also an apparent friendly relationship between the Erato sons and the sons of convicted Bonanno capo Louis 'Ha Ha' Attanasio.
I wonder how 'Da Bosses' feel about this publicity?
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Rainbow Beach Club Archives
Archives of the Rainbow Beach Development in Cupecoy.
18th February 2006 - 15th July 2008
