Monday, May 17, 2010

May 14, 2010 Shareholder Meeting

The meeting of shareholders started at approximately 6:20 PM on Friday May 14 with over 200 shareholders present. After reviewing the frequently asked questions and an open question and answer period for over one hour, the meeting adjourned at approximately 9:00 PM with the shareholders in attendance unanimously electing a new advisory committee.
Documents referenced at the meeting are posted below for all shareholders to review at their convenience:

1. July 14, 2009 Legal Opinion regarding a Florida Appointed Receiver in the Dominican Republic
Issued by the Pellerano Law Firm in the Dominican Republic, this is Opinion discusses why a US Court cannot appoint a receiver in the Dominican Republic, the steps that would have to be taken otherwise and the damage any such action would cause to the shareholders and timeshare purchasers.

2. July 14, 2009 Memorandum
This memorandum was signed by Fred Elliott with the understanding that a meet and confer would
follow to agree on a more formalized document. The meet and confer was never held and on July 17, 2009
the Monitor Order was issued. In any event , Fred Elliott would not have any authority to enter into an agreement of this nature. Any such agreement would require shareholder resolutions . The Monitor Order is currently under appeal with the 11th Circuit Court of Appeal.

3. July 17, 2009 Monitor Order Following Memorandum
This Monitor Order was not agreed to and is under appeal with the 11th Circuit Court of Appeal.

4. December 9, 2009 11th Circuit Court of Appeal Brief Filing regarding Monitor Order
Following the issuance of the Monitor Order and the devastating effects it has caused, the appellate brief attached was filed.

5. April 20, 2009 Turks and Caicos Supreme Court Discharge Order
This Order, issued by the Chief Justice of the Turks and Caicos, discharged an injunction obtained by certain ECC plaintiffs in the TCI. This was discharged due to misrepresentations made in the application by the plaintiffs. Costs have been awarded to our lawyers and a damages inquiry is pending. This Order refers to the "disquiet" the actions of the ECC left with the Chief Justice.

6. December 16, 2009 Elliott Corporate Defendants Response to Special Master Report
The Special Master's Report was not admitted as evidence, nor was it defended by the Special Master
Thomas Scott at the February 1, 2010 hearing regarding his report. The report is defamatory and shows a complete disregard for due process.

7. December 17, 2009 Elliott Objection to Special Master Report Joinder
Fred and Derek Elliott filed an individual response/joinder to add to the objections
made regarding the Special Master report.

8. December 16, 2009 Affidavit of Sarah Davies
Allegations made about Sarah Davies in the Special Master Report were responded to by her in the attached affidavit.

9. January 29, 2010 Elliott Reply to the Special Master response to the objections to the Report
A further reply was submitted on this date, outlining some of the laws that were violated by the Special Master in the Dominican Republic and further highlighting the lack of due process in the litigation.

10. February 1, 2010 EMI Corporate Defendants Answer, Affirmative Defense and Counterclaim
The affirmative defense and counterclaim was filed in Florida at the request of the Court on February 1, 2010. It is a total of 356 pages plus exhibits. Pages 59 to 94 provide a detailed overview.

11. February 2, 2010 Elliott Affirmative Defense and Counterclaim Joinder

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