On 1 August 2016, Canarian Legal Alliance announced a significant victory in Tenerife, this was against Silverpoint. The Court of First Instance in Arona ruled in favour of the CLA client, declaring their contract null & void, again the court used the recent Supreme Court rulings as precedent. (These now number 17)
They upheld the fact that the contract was illegal as it was for more than 50 years, they also found other irregularities in the contract. Consequently the client was awarded over 25,000€ including maintenance fees and legal costs.
The court also ruled that Silverpoint was responsible for contracts issued by Resort Properties, this ruling puts into no doubt the courts see Silverpoint and Resort Properties as one and the same entity.
This has been a point of contention for some time, Silverpoint have always denied they are Resort Properties, that they had bought them out and were not responsible for what Resort Properties did.
The former sales manager David Taylor had consistently denied any link, even being caught on video, (see youtube link). In this video Mr Taylor states to a client that he can not do anything about the purchase made under Resort Properties. He blatantly uses the Data Protection Act as a cover, saying that under this act all records from Resort Properties are unavailable to Silverpoint.
The problem with this is the client already knows the people involved from Resort Properties, he had dealt with them before, including Mr Taylor.
So how true is Mr Taylor’s claim under the data protection act? Not very.
When Diamond took over from Sunterra, all records of transactions and members became their property, how else could they run the club / resorts. Surely if Silverpoint was a completely new entity, not just a revamped Resort Properties, they would have had access to all members and purchases made under Resort Properties. Obviously they would need to know what has been sold and who the members are.
As the video shows, it was a ploy to make the client pay more money, the investment pitch! This company has been doing this for years, making investment promises and continually reneging on them. These investment packs have been peddled for many years and have been highlighted on many occasions, in total contravention of the rules regarding selling timeshare as an investment. Yet these companies blatantly made a fortune from this, despite being members of the RDO, yet failing to follow the codes of conduct and ethics.
What did the RDO do about this?
Why did they not do anything as the body set up as a trade association to ensure compliance with regulations?
Simple, Resort Properties / Silverpoint are main contributors of the organisation, it is not there to protect the consumer, it is there to protect its own members. They even state on their website, they do not investigate any complaint about any member of the RDO, you must go directly to the member concerned. What type of trade body is this?
Inside Timeshare has also recently publish news that the said Mr Taylor is now working out of the York office for Monster Rewards, his new title is Senior Client Advisor, supposedly helping people to get out of their timeshare, yet ending up purchasing Monster Credits. After watching the video over and over, my feeling is how could I trust this man?
We have stated before, timeshare itself is a great concept, it is the people involved and how it is sold that is the problem. The RDO and TATOC need to be replaced, preferably by independent bodies, not beholden or financially dependent on the industry.
In the following links are the David Taylor video:
Silverpoints new website;
Summary of Monster companies;
Trade bodies and Associations.
If you have any information about any company you have dealt with and would like to share this with others, Inside Timeshare would like to hear from you. If you have any questions about this article or any timeshare matter Inside Timeshare will find the answers for you.