It's been no summer picnic for vacation company Epic

An FTC settlement comes amid creditors' trying to force bankruptcy.

By Benjamin Y. Lowe
INQUIRER STAFF WRITER
Friday, September 7, 2001

It has hardly been a relaxing summer for Epic Resorts L.L.C.

The King of Prussia time-share operator and vacation packager had to settle a civil complaint by government regulators while fighting off creditors trying to force the company into bankruptcy.

After losing its primary source of operating cash in June, the company's financial condition steadily worsened:

Read this entire article in The Philadelphia Inquirer

NOTE Sept. 12: In this article a figure of 64,000 was given in reference to the number of refunds that have to be made. Epic's attorneys have asked The Timeshare beat to correct this, and though we do not believe it is our responsiblility to correct another newspaper's information, nor has Epic provided The Timeshare Beat with proof of the corrected figures, in the interest of accuracy for our readers' sake we have agreed to post this information:

• CORRECTION Sept. 11: --"Your comments in Street Talk concerning Epic Resorts' settlement with the FTC are not accurate. The agreement does not require Epic to refund 64,000 travel packages. Epic did refund a small number of travel packages over one year ago before an agreement was reached with the FTC. The agreement does not require anything more and does not require Epic to pay a fine or penalty."
  Richard Capriola
  Weinstock & Scavo, P.C.
• Please note also that according to attorney Pat Semegen the total number of the refunds made as agreed with the FTC is less than 500 and that all were made in October, 2000 or before. No other refunds are outstanding.