A year later, it's still in court but the situation looks hopeful. The second company isn't in any better financial shape than the first one, and will probably want to get rid of the lawsuit just to liquidate some debt.
In the meantime, the management has adapted the property and made it very functional and just as beautiful. With all the timeshare scam artists out there, it's a shame that a legitimate one has to be treated so badly.
This sign just says that the property is being leased from a bank. It looks scary, though!