Festiva Settlement Update

Festiva Settlement Update 

Looking for information regarding the outcome of Reeves, et. al v. Zealandia Holding Company, Inc? Here is the latest on the status of the settlement – as well as some guidance on how to obtain the necessary information to answer any further questions you may have.

District Judge John Antoon approved the settlement agreement on October 25, 2016.  The “Effective Date” of the settlement was December 1, 2016.

For class members who chose the Vacation Benefit Option, Festiva mailed out vacation certificates in the last week of December. Remember that the number of certificates that you will receive depends on the amount that your RCI Points allocation was reduced.

For class members who chose the Deedback Option, Festiva expects to mail the paperwork by the end of January, 2017. It must send out the necessary forms and information during the first quarter of 2017 at the latest.

RCI bonus weeks will be available for use on approximately January 31, 2017.

For the terms of the settlement, including more details on the common fund, bonus weeks, and the Vacation Benefit and Deedback options, we encourage you to refer back to the Class Notice and Settlement Agreement, which was previously mailed to all class members and is available online for your convenience here.

That document also contains important information regarding maintenance fees, which we realize are a concern for many as we move into 2017. Questions 9 and 11 on the notice primarily address the 2017 maintenance fees; in short, the question of whether you are required to your 2017 maintenance fees depends on which option you chose under the settlement, or whether you plan on using any RCI Points or your current week in 2017 or any future year. 

For more information on the settlement, we have all of the pertinent paperwork collected here.

Thank you for your patience. Don’t hesitate to drop us a line with any further questions or concerns.

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