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Alvarez and Marsal

Club Paradiso: Latest News

Inside Timeshare over the past months has been reporting on the latest developments regarding Club Paradiso and The Paramount. We reported some time ago that Alex Lawson of Alvarez and Marsal became the administrator of Club Paradiso Ltd and began proceedings to liquidate the company (club). We also reported earlier in the year that many bookings made by members had not been honoured, the reason given was that Excel Hotels and Resorts had not been paid for the bookings. Many members arrived to find The Paramount closed and had nowhere to stay unless they paid yet again.

The strange thing is that all the companies involved in this are all part of the same group of companies of which Alex Lawson is being placed as administrator to liquidate them. He is also the appointed liquidator of Limora Group the parent company of Silverpoint, Excel Resorts and a host of others.

In the latest letter to members Alex Lawson tries to explain what is going on, he begins with the excuse of a “breakdown of relationships with a number of inventory providers”, which necessitated the suspension of all new bookings from June 2019.

Alex Lawson

He then goes on to explain that the “company” had been working hard to honour “existing 2019 reservations as far as possible.” Unfortunately for the majority of members, they have had to make their own alternative arrangements.

The letter goes on to state that given the issues that face Club Paradiso they are unable to confirm any bookings for the 2020 period. His advice is to contact the destination resort to confirm if the booking is still valid and arrange “for payment” for the accommodation or to “confirm cancellation.”

The next paragraph which is in bold and underlined goes on to say:

“For the avoidance of doubt, please note that, in the case of bookings for the 2020 calendar year, whether previously confirmed or unconfirmed by Club Paradiso, Club Paradiso is not able to maintain these bookings and is not able to assist with payment or the sourcing of alternative accommodation in respect of the same. This applies to any bookings made during (or before) 2019 for the 2020 calendar year (and beyond).”

Well, that is blunt and straight to the point, members will get nothing.

Lawson then goes on to say that the property (The Paramount) “was never owned by the club,” it was only made available to members through a lease agreement, he then states that the company (Club Paradiso was not a direct party to).

Again he goes on to blame “unpaid lease payments” as the reason why The Paramount was “unable normal operations”. This resulted in The paramount having to deny access to club members.

Lawson then explains that The Paramounts former owners (whoever they are) agreed on a sale and it is now under new ownership. He also points out that Club Paradiso was not directly involved in the sale and is unable to provide any information on the sale or the future of The Paramount.

Now considering that Lawson is involved in the liquidation of many of the companies of Limora Group and the fact they are all interconnected it does seem very strange that he claims he does not know what is going on!

So to recap, Alexander Lawson as liquidator closes down Club Paradiso along with The Paramount itself claiming unpaid fees,  using this as justification to members/investors as the reason the building is closed.

The building is then sold to a real estate company in Tenerife who are now selling the apartments off as individual units (so why is the money made from this sale not given to the investors as per their contracts?). He also believes that nobody will take any legal action but will just roll over and lose everything they have paid for, somehow Inside Timeshare cannot see this happening.

It is now becoming very apparent that the whole structure of which Silverpoint is a part of is just a very large criminal enterprise. This also includes the actions of the liquidator who is taking action which does not benefit creditors or the club members themselves, His actions are guided by his employers the UBO’s (ultimate beneficial owners) the Trotta family who all reside in the USA. (See link below for the full story if the reasons behind the liquidations).

Inside Timeshare has also heard through the grapevine that the State Prosecutors Office of Tenerife has also included Alex Lawson in their criminal investigation. Further information on this when there is confirmation.

What Inside Timeshare can reveal at this point is that one law firm is already on top of this and is currently taking action on this, no prizes for guessing which law firm, Yes, Canarian Legal Alliance.

If you are a member of Club Paradiso and would like to know your legal options or further information you can either use the contact page on Inside Timeshare or you can contact Canarian Legal Alliance direct through their website: https://www.canarianlegalalliance.com/

Link to the 6 part article on the liquidations.

https://insidetimeshare.com/?s=exclusive+breaking+news


Keys Concierge Winding Up Order

Yesterday 25 September 2019, The Gazette which is the Official Public Record published the Winding Up order of Keys Concierge. We published in July the fact that Keys Concierge had filed a petition for winding up, with Alex Lawson of Alvarez and Marsal replacing Franz Markus Deutsch as Director on 14 May 2019.

https://www.thegazette.co.uk/notice/3391150

Keys Concierge is just another in the group of companies which come under the Limora Group which Lawson is placing into liquidation. This is obviously bad news for the hundreds of consumers who have paid hundreds of thousands for membership to this dubious club. It is now obvious in the light of recent events and now the actual winding up order that the whole operation was a money-making machine.

Alex Lawson is liquidating many companies within the Limora Group including Limora Investments Ltd (BVI) the parent company which was owned by the late Bob Trotta and now owned by his family. For the whole story and reasons behind these liquidations read the articles on the link below especially the 6 part article which highlights the Ultimate Beneficial Owner/s.

https://insidetimeshare.com/?s=exclusive+breaking+news

There may be a glimmer of hope for some consumers who paid by credit card, now that the Keys Concierge has been officially wound up, they may have recourse to claim via their credit card provider under Section 75 of the Credit Consumer Act 1974.

Section 75 covers, not receiving the goods or services paid for, faulty goods or goods not fit for purpose and the most important the company is no longer in operation due to liquidation. The last is the most important as now those consumers will never receive the service promised and paid for. For more detailed information on Section 75 please follow the link to the Martin Lewis website. This gives very good advice and template letters to pursue a claim yourself.

https://www.moneysavingexpert.com/shopping/section75-protect-your-purchases/

Inside Timeshare now warns the many “members” of Keys Concierge that they will no doubt be receiving many “cold calls” from dubious companies now seeing an opportunity to make money out of those already in distress. They will probably use the “carrot” of no win no fee but with a very hefty fee on completion.

If you receive any calls to this effect please use our contact page and give us all the details that you have, Inside Timeshare will publish this information to warn other readers.

Inside Timeshare will also help with advice and writing of letters FREE OF ANY CHARGE, Section 75 can be done yourself but we appreciate that not everyone has the ability to do this and may need help.

DO NOT PAY ANY COMPANY TO DO THIS FOR YOU.

Latest News: Excel Overseas Holdings Ltd Provisional Liquidation

Today Inside Timeshare has received a copy of an email sent by Kola Advisors and signed by Barry Lynch on behalf of Alex Lawson and Paul Pretlove of Alvarez and Marsal who are the appointed as Joint Provisional Liquidators of EOHL. This letter was apparently sent to “Investors” of the Excel Lodgings Participation Program or ELPP. In his letter, Barry Lynch explains what is happening and it does not look as though this is going to be a quick or simple process.

Alex Lawson and Paul Pretlove

Lynch begins first explains that the company EOHL (Excel Overseas Holdings Ltd) was placed into provisional liquidation on 26 March 2019, this a was put before the High Court of Justice of the British Virgin Islands (Commercial Division). He explains that the application has been brought by a company called Landcastle Holdings Ltd, which as it turns out is a majority shareholder of EOHL.

Lynch then report on the hearing of 13 May 2018 before the BVI Court in order to bring the application to a final hearing. At this hearing, Landcastle Holdings argued that the application should be dealt with in the same way as other similar applications. They were seeking the appointment of liquidators for the benefit of creditors and hoped that the final hearing would be held within 6 to 8 weeks.

This was opposed by another company called Landcastle Capital Ltd who are registered as minority shareholders of EOHL.

Although these two companies have similar names they are in fact separate entities independent of each other and separately owned and managed.

Landcastle Capital is owned by a gentleman in New York who is attempting to block the liquidations.Landcastle Holdings working on information they have available are of the view that this individual is primarily responsible for the issues facing EOHL. This also includes all the problems now facing those “Investors” of the ELPP.

So what do we deduce from this?

It looks like that this is a dispute between the shareholders of EHOL, this means that both parties should be required to lodge their pleadings in full detail on their respective positions of the dispute.

The BVI Court ordered that pleading did need to be filed in the application so they may determine the claim.

Landcastle Holdings filed and served their statement of the claim on 21 June 2019, Landcastle Capitol has until 19 July (tomorrow) to file and serve their defence.

High Court BVI

With the BVI Court’s decision the application will not be a speedy one as was initially hoped, it is believed that the application is not going to be heard until late 2020 or even early in 2021.

The Joint Provisional Liquidators have now taken control of companies which are below EOHL within the corporate group, they are believed to be taking steps to protect and maintain the value of all the assets. Lynch states that the JPL’s “are working diligently to ensure the best possible outcome for EOHL creditors, principally being the ELPP Investment investors”.

Apparently, Landcastle Holdings is continuing to seek the appointment of liquidators to EOHL.

If any of the assets of EHOL be realised then any money collected from those assets will be held in the estate of EHOL purely for the benefit of creditors and to cover any ongoing costs. This will also include costs for the provisional liquidation and any future liquidation. It is not yet know how the distribution to creditors will pan out.

Lynch ends his letter with “the JPL’s will continue to take all necessary steps to protect and maintain the value of EHOL assets. They will also continue to provide creditors with updates on any relevant developments”.

This along with all the other articles Inside Timeshare has published on the tangled web of companies of which Silverpoint is part of, is going to be a very long-running and complicated story. It is one that Inside Timeshare will be following very very closely, so watch this space.