When we provided deposits, they were originally held in escrow.
Apparently, MGM no longer has the money in escrow. Rather, it was turned over to M3 Nevada Insurance Company, which according to MGM SEC filings, is a wholly owned subsidiary of MGM.
The question is, does M3 have the money? If not, is there a bond that will cover the return of the deposits in the event of a Bankruptcy?
If anyone has any insight into this question, please respond! Thanks
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I found the address and telephone number for M3 Nevada Insurance Company. I spoke to a woman named Paula Gentilly there. Her number is (702) 650-6723.
If you ask where your deposit money is, she will give you some scripted answer that goes like "in accordance with your contract, your escrowed money was assigned from CityCenter and it has been bonded by M3". When you ask who is supposed to pay the bond or where the money comes from she says "she is not at liberty to say". Call her and see for yourself. The issue is that M3 is wholly owned by MGM, and MGM is out of cash!!!! They wont answer the question "Where is the money coming" because they dont have the answer!
so legally if we all file a group lawsuit and win who will we get our money from ?
Can someone say 'MAFIA'?????
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