Browse Month

August 2016

More Bad News For Anfi!

Over the past week Inside Timeshare has been highlighting the Anfi Group project at Tauro Beach, the fact that an investigation is underway into serious flaws in the licences and permissions granted to Anfi. Also the fact that homes have been subject to flooding because the natural defences of the original beach have been removed, changing the dynamics of the tides and currents, and the question of who is going to pay.

Tribunal-Supremo

On top of all this, Canarian Legal Alliance has just announced the 18th Supreme Court ruling, this will be the 17th against Anfi. Once again the court has ruled in favour of the client awarding them over 45,000€ plus interest and legal fees.

 

The court has reiterated their previous ruling that contracts in perpetuity (over 50 years) are illegal, that floating weeks and the taking of deposits also makes the contracts null & void. Yet we still see Anfi claiming their contracts are legal, they can not seem to acknowledge the fact the Supreme Court has ruled, they still believe the court has got it wrong.

 

Back in March 2016 Anfi issued a statement to their members, also backed up by the RDO, in it they reaffirm their belief the Supreme Court has got it wrong. They also go on to say that when a member takes legal action and wins, they will also have to pay for the holidays they have already taken. (I thought they had already paid with the maintenance fees). (see pdf) Anfi state they will use the Spanish Civil Code in order to enforce payment. (see post http://insidetimeshare.com/rdo-trying-scare-anfi-timeshare-owners/) Again it appears Anfi are trying to scare people from taking legal action, when the clients have the legal right to have their contracts cancelled and be reimbursed for being sold illegally. They have also resorted to emailing clients using out of date accusations from Mindtimeshare. This is obviously an act of desperation, they know they are in trouble not just because of the 17 Supreme Court rulings against them, but also with the recent developments over their Tauro Beach project being investigated.

ANFI Supreme Court Ruling   (click for pdf)

So far nothing has been heard from Anfi regarding the problems at Tauro Beach, no statements have been seen in the press or anything online. Considering they are the ones building the beach and therefore responsible for these events, not even a whisper or any contact with those affected has been seen or heard. Surely any company would have made some kind of statement, even just to say they would look into it.

for sale 1

For those who still believe that their timeshares are worth something, think again. This was sent to Inside Timeshare and apparently comes from Anfi del Mar Friends, it is an advert for a timeshare up for sale and it reads:

 

“Hi folks, if anyone out there is interested in buying a week, I have week ** anfi puerto, one bed with saturday changeover in room ***. Would take £1000 ovno. Also on sale in house at Anfi. It’s a cheap buy for anyone interested”

anfi resale

Well apparently over 5200 have seen it and it still hasn´t gone! I wonder why? Could it be the reputation timeshare has or is it just Anfi? Or is it the ongoing costs, after all the maintenance fees are not cheap, and we did notice there was no mention in the add of the cost. This added to the facts published in previous articles regarding the beach and the court rulings does make it look as though the future for Anfi is likely to be rather bleak!

bleak

If you have any questions regarding anything in this or any previous article contact Inside Timeshare, we will try to answer them and if we do not know the answer we will find out. If you have anything you would like to share, Inside Timeshare would love to hear from you. Need information on any company you may be thinking of using but don´t know where to look we may be able to help.

They keep on coming….. #18

 

Diamond 2nd Quarter Financial Results Announced.

Last week on the 2 August 2016, Inside Timeshare published an article on Diamond Resorts postponing the announcement of their 2nd quarter results.

 

They were finally published yesterday 8 August 2016, it looks like they haven’t done as well as the 2nd quarter of 2015. Irene Parker emailed some of the report as follows:

 

  • Total revenue for the second quarter increased $14.2 million, or 6.1%, to $245.7 million.
  • Net income for the second quarter decreased $10.1 million, or 28.5%, to $25.5 million.
  • Pre-tax income for the second quarter of 2016 was $43.8 million compared to $62.4 million in the second quarter of 2015 and included non-cash charges of $4.1 million and $4.4 million, respectively, related to stock-based compensation. Excluding these amounts, pre-tax income in the second quarter of 2016 would have been $47.9 million, a decrease of $18.9 million from $66.8 million in second quarter of 2015.

 

This is despite the number of reported “Tours” increasing by 11,791 in the 3 months to the end of June, with the number of sales transactions also increasing by 7.3%. They also announced that the average transaction price also increased by around 3.1%, yet they reported that there was a lower closing average for these three months.

 

This is not an area that I am familiar with, so for more detailed information follow the link to the full report at The Street.

 

https://www.thestreet.com/story/13667717/1/diamond-resorts-international-inc-reports-second-quarter-2016-financial-results.html

 

For those of you who are interested in this side of the industry Inside Timeshare will publish as and when the news comes in.

 

Tauro Beach Project: Latest News

Since Inside Timeshare published the last update on the Tauro Beach Project 5 August 2016, Canarias7.es an online paper published further news.

 

http://www.canarias7.es/articulo.cfm?id=430302

 

In the last article we showed a video of the waves crashing up the beach and flooding the homes of local residents. The weather was not what could be called bad and even the waves were not that high. So why has this flooding taken place?

 

Before the creation of the beach, it was made up of rocks and large pebbles, (see picture), this was a natural dispersant of the energy of the tides and waves, it would absorb the waves as they came in, it was also much higher affording a lot more protection. Since the creation of the beach, this natural defence has gone, bringing the high tide 50 meters further up the beach. What we saw in the video is the consequence of creating this beach, the sea has no barrier, therefore it rose up the beach and caused considerable distress to the local inhabitants. The question is, had the seas been in full storm mode what would have happened to the area?

tauro pebble beach

Surely this should have come to the attention of the planners of the project, had the correct investigations taken place. Where are the environmental impact reports on this project, or were the permissions and licences approved without this consideration? Is this another controversy Anfi group have got themselves into?

 

The residents have now filed complaints with the Guardia Civil, who are themselves behind the original investigation. This has already resulted in the dismissal of the head of Canary Islands Coastal Authority, José Maria Hernández Leon, due to severe irregularities found in the permissions granting the project the the Anfi Group.

Playa-Anfi-Tauro-Canarias-Ahora_EDIIMA20160716_0223_18

 

 

 

 

 

One resident has complained that they are “desperate, nobody pays attention to us”. They also fear that the next high tide might not be so forgiving. Their next obstacle is who is going to pay for the damage to these homes, many electrical appliances have been damaged due to flooding in the homes of around 40 centimeters. Will it be the Environment Department of Mogan, The Coastal Authority or are Anfi going to find themselves in another legal wrangle over compensation?

 

If Anfi are found liable as the project developers and it comes to light they were involved with the irregularities of the permissions, what is the cost going to be to them? The project has already cost millions, if it is shelved and the beach reverted back to the original state or some kind of defence built who will be paying the bill?

Anfi-Beach-Construction-3-1

Could it be the Anfi owners / members will end up paying the price with increased maintenance fees, or even as we have seen with Diversified bringing in a special levy? If so the question must be asked, why should they pay for something they are not responsible for? Along with all the court cases against Anfi this could prove very costly for them.

This latest revelation into the business practices of the Anfi Group, certainly raises many questions, has there been undue influence by the group to secure the project? How far up the proverbial political ladder does it go? Will we be seeing charges brought for negligence, influence peddling or some other serious crime?

 

Many questions have been raised over this project, none so far have been answered, especially for the residents of Tauro. This may just be the tip of the iceberg, it is definitely something the Anfi Group could do without, especially as they are under fire in the Supreme Courts over the mis-selling of timeshares over the years. This alone has cost them millions. As we have said before only time will tell, so watch this space.

 

http://insidetimeshare.com/irregularities-anfi-tauro-beach-project/

 

http://insidetimeshare.com/update-anfi-tauro-beach-project/

 

The following link contains video footage.

http://insidetimeshare.com/anfi-tauro-beach-project-people-flooded/

 

The following links are from a local resident.

 

If you have any questions regarding this or any other matter, Inside Timeshare will be happy to provide the answers. If we do not know the answer, we will find out for you. If you have any comments or would like to share something please leave them in our comments section.