ILX in bankruptcy June 3, 2009
Posted by cmurphy in : Timeshare Resource , trackbackThe Arizona republic reports that ILX,independent timeshare developer based in Phoenix, has filed chapter 11 bankruptcy.
The Arizona republic reports that ILX,independent timeshare developer based in Phoenix, has filed chapter 11 bankruptcy.
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This is interesting – Westgate declared bankruptcy last year, ILX is now in Chapter 11. Wonder how many more companies will end up going this route before the economy comes back. People typically hate paying maintenance fees as it is, but given the choice between a mortgage payment and maintenance, I think the choice is pretty obvious.