Reply to Banyan Beach Club Article

May 9, 2008

Dear TCPOA:

We have been reading with great interest what the TCPOA has published on the Banyan Beach Club situation. We, along with the Dunns have co-owned a condo there since 1970 before Craig Roberts or Dave Stetson were ever involved. This was our vacation home at a place we loved to travel to.

Many changes have been made – to the buildings as well as different owners. One thing has remained constant, – our ownership of Condo #1. All of the other units were grouped under a hotel license, our unit being the sole condo. We have been asked many times by Mr. Roberts and Mr. Stetson to sell our condo, but we liked where we were situated. Not only is Treasure Cay Beach beautiful, but we feel that the Banyan and Sand Dollar units have the best spot on the beach.

After Floyd hit, everything was rebuilt. The September 04 hurricanes were not as devastating. We were in touch with the Stetsons almost immediately. They were not truthful with us as to the situation of having what was damaged repaired. (We have written proof of this). We have continually been in contact with both the Stetsons and Craig Roberts. Even though the insurance company paid to have the damage repaired, this was not their plan. Without our knowledge, our unit was demoed and all our possessions were taken. Further damage was done to the roof. (Again, we have witnesses to all of this as well as documented proof). The Banyan would not be in the state it is today if the appropriate action had been taken. How would you react if this had been done to you?

We have tried for over 2 years to come to a settlement with them. We do not want to leave our location. We were, however, at one time willing to move to a condo further down the beach. Unfortunately, every time Mr. Roberts put something on the table, there was always a catch or it was taken away (again we have written proof of this). Then, they were going to rebuild on the site. We were shown the plans. Mr. Roberts put us in the back. We told him that we wanted the front on the end where we had always been. In addition, the “deal” he offered us meant that we would be putting out a substantial amount of money towards this condo. We did not want a two million dollar condo, and if he insisted on building these luxury units, then it would be at his expense, not ours.

Yes, they have made us unreasonable offers for our “ruined condo” which they demoed. We were quite willing to put in additional money with our portion of the insurance money to repair our condo, but this was never their intention. Their intention has been, all along, to own all the units. Currently, there is NO offer on the table from Craig Roberts or the Stetsons as it is now in the hands of our lawyers.

You may share this with your members on the TCPOA website. As stated above, we have all the documentation/witnesses to backup everything written above.

Pete Elston
Sue Dunn