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Start the Week: Huge Payouts Announced

Welcome to another week with Inside Timeshare, we start today with a roundup of news from the end of last week in the courts. It certainly proved rather costly for these timeshare resorts but made their ex-members very happy indeed. As usual, all the contracts have been declared null and void due to serious infringements of Spain’s timeshare laws with the return of all the client’s purchase price.

In the first case which was actually heard and the sentence passed some time ago, Puerto Calma Resort in Gran Canaria has now paid out the client over 41,000€. This money has now been paid to the client via bank transfer. They are now timeshare free as the contract was declared null and void.

Friday was a very bad day for the major timeshare resort in Gran Canaria, in just one day seven sentences were passed by the courts against Anfi. As we know many of the Anfi contracts are illegal as they either contain floating weeks or points systems or the contracts are perpetuity which as the law states should have a duration of not more than 50 years. As in most of these sales, deposits were also taken within the statutory cooling-off period which is also forbidden by law.

The total amount awarded by the courts in these seven cases amount to a massive 213,187.29€, this is certainly a huge hit to the Anfi coffers in one day, the client’s contracts were also declared null and void leaving them timeshare free.

These cases were brought on behalf of these clients by Canarian Legal Alliance, this is further proof that this is one law firm that does actually deliver what they say. So it is congratulations to the clients and also to the whole legal team at CLA.

Lawyers of CLA

The criteria for a valid and viable claim against your timeshare resort is as follows:

The purchase or upgrade must have been made in Spain or any of her territories after 5 January 1999;

The contract duration is more than 50 years or has no end date, what is commonly known as a perpetuity;

It contains points or floating week systems, this may also include fractional and investment packs such as those sold by Silverpoint. This also includes the Company Participation Scheme which replaced the old investment weeks;

Any payment is taken within the 14 days cooling-off period even by a third party. This may also be extended to 90 days where other serious infringements of law have taken place.

There are other laws which may also be used in these cases which include Consumer Law and also Mercantile Law, these tend to be included once the lawyers begin to prepare a case for court.

Moving on to the article published on Friday with regards to the application by Silverpoint to the Mercantile Court to begin proceedings to liquidate the company, Inside Timeshare has received several enquiries on this subject.

The main concern so far has been the same, why have Silverpoint not informed members of this fact?

That is one question that we are unable to answer, we suspect their motive is to just keep it quiet giving as little information to members as possible. We also know that this “liquidation” is an attempt to avoid any further litigation in the courts against them which they are losing on an almost daily basis. It must also be mentioned that the State Prosecutors Office is also conducting an investigation into the reasons behind the liquidation.

Have you had enough of your timeshare and the ever-increasing maintenance fees?

Are you fed up with not being able to get the reservations due to no availability?

Have you found that non-members are able to book into your resorts without the huge “investment” you made and in many cases for less than your annual fees?

If you can answer yes to these questions and your contract falls into the criteria above, then please use our contact page and ask for further details. We will get back to each person with a personal reply as to your own circumstances.

Silverpoint Declares Liquidation: Who will be Next?

Welcome to the Friday edition of Inside Timeshare, today we have some breaking news which has just been made public. There has been a huge amount of speculation regarding the Silverpoint, most of these rumours have claimed that Silverpoint has already been placed into liquidation, that is not actually the case. The process is more complicated than simply “going into liquidation” as we will try to explain.

On 15 January 2020, Silverpoint presented to the Mercantile Court a declaration of insolvency & provisional liquidation (Concurso de Acreedores). This does not actually mean they have declared bankruptcy. It is a legal process in Spain which can be invoked by the company voluntary or invoked by its creditors. It is applied when the company is considered to have more creditors than it does assets.

This move is something that Inside Timeshare and others including Canarian Legal Alliance have been expecting for some time. Over the past few years, Silverpoint has been monitored very closely with the movement of funds between various accounts at the forefront.

This transfer of funds and assets was a blatant move to hide them from the authorities to avoid payment, this has already resulted in an investigation initiated by the State Attorney. (See links for the report in El Diario at the end).

The first part of this process is for the Mercantile Court to appoint an external (independent) administrator who is then obliged to inform all creditors of the current situation. The administrator will also have to produce a full and exhaustive report on Silverpoint’s financial operation over the past years.

If the administrator discovers any serious irregularities not only with the liquidation but the actual running of the company, they can, in essence, classify the liquidation and company administrator guilty. This means that the administrator, which in the case of Silverpoint is Mark Cushway, may be personally responsible with his own assets, he may even face a custodial sentence.

Mark Cushway: Could find himself liable.

At this point Inside Timeshare must point out that Mark Cushway was also CEO of Resort Properties before it became Silverpoint so he must have known all about how the company was operated. He was also a director of the RDO (Resorts Development Organisation) the so-called industry trade body. Silverpoint was also one of the largest contributors to RDO funds until they resigned their membership.

The purpose of the Concurso de Acreedores is not to close the company down, it is to attempt to pay all creditors so as to clear the financial situation of the company and if possible overturn a complicated situation preparing the company for future business. Preventing bankruptcy is a priority of this procedure. However, if the declarations being presented are found to be a fraudulent application for insolvency, then this opens up a very nasty can of worms for the company administrators.

As our title suggests, could other timeshare companies be contemplating the same procedure?

Inside Timeshare has already published the fact that the Provincial State Prosecutor in Gran Canaria is already taking a keen interest in the timeshare resort of Anfi. This again stems from the fact that Anfi is transferring assets and funds to other various companies in an attempt to delay or even avoid paying what the courts have ordered. Again this could lead to criminal prosecutions and include jail time for the administrators of the companies involved.

https://insidetimeshare.com/anfi-hits-spanish-television-news/

The question now which will be on the minds of all those with cases waiting for court hearings and those contemplating taking out litigation against Silverpoint is where does this leave them?

From what we have been told our understanding is that it will not have that much of an effect, the cases will instead of being placed with the Civil Court using timeshare laws, will be transferred to the Mercantile Courts. This means that the clients will then be classified as creditors and will then have priority in the eyes of the appointed administrator.

Inside Timeshare advises all those with cases pending to contact their lawyers for more detailed clarification as to their own personal circumstances. For those who are clients of Canarian Legal Alliance, they have also published today this news on their website. This report goes into a lot more depth than we are able to here.

If you have not already filed a claim to have your contract declared null and void with the return of your full purchase price and would like to know how this latest news affects you, then please use our contact page and we will get back to you.

Our final word of warning is now this news has broken, please beware that there will be many “bogus” claims companies and law firms who will use this to their own advantage in order to scare people into paying for “legal services” as a matter of urgency. If you receive any calls to this effect then contact Inside Timeshare and we will help you sort out the genuine from the scams.

Have a great weekend and join us again next week for more news and information on the murky world of timeshare.

El Diario Article

https://www.eldiario.es/canariasahora/tenerifeahora/tribunales/Fiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

El Diario English

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=en&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftenerifeahora%2Ftribunales%2FFiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

El Diario Danish

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=da&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftenerifeahora%2Ftribunales%2FFiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

El Diario German

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=de&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftenerifeahora%2Ftribunales%2FFiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

El Diario Finnish

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=fi&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftenerifeahora%2Ftribunales%2FFiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

El Diario Norwegian

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=no&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftenerifeahora%2Ftribunales%2FFiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

El Diario Swedish

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=sv&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftenerifeahora%2Ftribunales%2FFiscalia-venta-propiedades-timesharing-sur-Tenerife-turismo_0_950155565.html

Translations of this article

Danish

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=da&u=https%3A%2F%2Finsidetimeshare.com%2Fsilverpoint-declares-liquidation-who-will-be-next%2F

Finnish

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=fi&u=https%3A%2F%2Finsidetimeshare.com%2Fsilverpoint-declares-liquidation-who-will-be-next%2F

German

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=de&u=https%3A%2F%2Finsidetimeshare.com%2Fsilverpoint-declares-liquidation-who-will-be-next%2F

Norwegian

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=no&u=https%3A%2F%2Finsidetimeshare.com%2Fsilverpoint-declares-liquidation-who-will-be-next%2F

Swedish

https://translate.google.es/translate?hl=en-GB&tab=rT1&authuser=0&sl=es&tl=sv&u=https%3A%2F%2Finsidetimeshare.com%2Fsilverpoint-declares-liquidation-who-will-be-next%2F

Hellenic Republic Ministry of Foreign Affairs: The Latest Eze Group Scam

Just as we thought we have seen everything another new SCAM has been identified, once again it is the clients of Eze Group who are being targeted. The strange thing about this SCAM is that it is purportedly from the Hellenic Republic Ministry of Foreign Affairs and refers to a “recent class-action lawsuit against various opportunist entities alike who chose to unlawfully, deceive their unsuspecting clients”.

According to the emails sent using this email address: [email protected] by Panagiotis Chatzitheofanos, Stavros Mpotsari and Nicola Stern, our reader is part of this “large lawsuit”.

Dear Sir and Madam,

We trust this email finds you well.

We kindly ask you to refer to the file attached; this file contains details of the case that is currently being heard.

You are receiving this email in respect of the recent case heard in our illustrious Supreme Court of Cassation Areios Pagos.

Your case was heard here as a part of a large “Class Action Lawsuit” against various opportunist entities alike whom chose to unlawfully, deceive their unsuspecting clients.

Should you require any further assistance then please do not hesitate to contact your representative Nicola Stern on 01305300239.

Yours faithfully,

Stavros Mpotsari

Σημείωση: Οι πληροφορίες που περιέχονται σε αυτό το email επικοινωνίας μπορεί να είναι εμπιστευτικές. Αν δεν είστε ο προβλεπόμενος αποδέκτης αυτού του email επικοινωνίας, παρακαλούμε ενημερώστε τον αποστολέα και, στη συνέχεια, να καταστρέψει οποιαδήποτε ηλεκτρονικά ή έντυπα αντίγραφα του παρόντος μηνύματος

Ministry of Justice

The Ministry of Justice Transparency and Human Rights was initially established as the State Justice Secretariat in April 1833.

It is entrusted with the management of judicial function, which is one of the three State functions. The Minister of Justice, Transparency and Human Rights supervises the administration of justice, namely organisational issues of the courts and infrastructure as well as economic and administrative support and guarantees the personal and operational independence of judges in accordance with the Constitutional requirements.

At the same time, the Ministry is charged with the development of legislative initiative in basic justice sectors, in which is included the harmonization of internal law with the rules of international law. Additionally, this initiative includes development of institutional actions that widens and strengthens individual rights and freedoms and empowers the function of the democratic institutions in general.

The Land Registries and Real Estate Offices are also under the Ministry’s supervision, as well as all the associations of employees in the justice sector.

Furthermore, the Ministry of Justice, Transparency and Human Rights is entrusted with the planning and application of the general national correctional policy.

The Presidential Decree 36/2000 (Official Government Gazette 29/17.2.2000) determines the state policy of the Ministry as well as the organisation, the responsibilities and the staffing of its services.

As you can see from the above email there is very little information but a lot of explanation and history of the Ministry of Justice, Transparency and Human Rights which was established in 1833, wow, that does go back a long way.

In the following document on the second page, there is also a history of the Court of Cassation in Athens, namely Areios Pagos, which was renamed the Supreme Court in 1834 (according to them). This “history again goes into great depth and even goes back to the year 462BC.  Well, all we can say is they certainly have a flair for the dramatic and not getting to the point of the case, apart from wanting money that is! (See the remaining documents at the end of the article).

The only thing that is genuine about these documents is the address that is given on one:

Λεωφόρος Αλεξάνδρας 121 Αθήνα 115 22, Ελλάδα

Which when translated from Greek is:

Alexandra Avenue 121 Athens 115 22 Greece

This does happen to be the actual address for the Supreme Court of Greece.

According to the documents provided the following companies are all being prosecuted for fraud:

Eze Group Europe Ltd, Regency Shores SL (registered in Spain), Everywhere Travel Ltd, Dreamland Breaks, La Pinta, Club Class SL, Timeshare Information Centre (TIC), Timeshare Advice Bureau (TAB) MONSTER TRAVEL SL

It just makes Inside Timeshare wonder how the Greek Courts are prosecuting companies that are based in Spain and the UK and have had no dealings that we know of in Greece.

Our reader according to the correspondence received has been awarded over 21,000€, with costs and compound interest being awarded at a later date. But in order to release this money, they must first pay the tax which amounts to 2,935.02€.

Another name has also come up with this particular scam which Inside Timeshare is familiar with, Jose Lara Cabello. As we know this is a duly registered lawyer with the  Ilustre Colegio de Abogados de Malaga with the registration number 6956. This lawyer has also been linked with two companies based in Malaga which are also perpetrating a similar scam. (see the following link)

https://insidetimeshare.com/tag/jose-lara-cabello/

Inside Timeshare has tried to make contact with this lawyer to check if he is aware his name and registration number is being used, needless to say Inside Timeshare has never received a reply or had our telephone calls answered. This leads us to the conclusion that this lawyer is not what he seems! We leave you the reader to draw your own conclusions and come up with the right word to describe him.

Once again, this proves that without doing your homework and making a thorough investigation into companies that contact you out of the blue, you the unsuspecting timeshare owner is set to lose yet more money.

Have you been contacted by these people or any other company which claims that your timeshare company is in court and you have been awarded huge sums of money?

If you please use our contact page and let us know as much as possible, Inside Timeshare will then research and publish any warnings to consumers, if you need help in determining if any company that has made contact is genuine then again please use our contact page and we will point you in the right direction.

Remember do your homework, you won’t regret it in the end!

PDF’s of the documents received.