Over the past few weeks Inside Timeshare has been running a series of articles regarding the troubles around Silverpoint and associated companies. We began with a series of articles in six parts on the truth behind Silverpoint this can be found in the link below. As a result, Inside Timeshare has been receiving many enquiries on this but also many many more from members who have been told their bookings will not be honoured.
Our readers have also been sending letters to Inside Timeshare from Excel Hotels & Resorts SA and also from Club Paradiso Ltd outlining their reasons behind all of this. We begin first with the letter one reader was given by Excel while actually on holiday.
The result is that any member who has booked through Signallia to stay at any of the resorts managed by Excel has after that date will not be honoured. They do however say that they did honour some of the bookings to “prevent disruption” being caused to members.
It also transpires that Signallia continued to market the products even after the termination of the agreement without the consent of Excel. Therefore none of these reservations will be honoured at any of the resorts.
The letter also goes on to say that Excel never received any payments collected by Excel and that they are not liable for any sums paid. Now considering that all these companies are interlinked via the parent company which was owned by the late Bob Trotta does make this look very suspicious indeed.
The letter which is unsigned but carries the Excel stamp ends with Excel informing clients that they are informing the relevant police authority, in other words, they are denouncing one of their own companies!
Several other readers have also sent us a letter amounting to 4 pages, with the last 2 being Frequently Asked Questions, from Club Paradiso Ltd another British Virgin Islands company and signed by Alex Lawson who we know is working on behalf of the Trotta family with his company Alvarez & Marsal to liquidate assets to save the Trotta family fortune. (See the link at the start)
The letter dated 12 July 2019 begins with advising members that on 14 May 2019 he was appointed as a director of the company, with the former sole director resigning with effect from 30 May 2019. This now makes Lawson the sole director of Club Paradiso Ltd.
He explains that since his appointment it has become apparent that Club Paradiso is facing a “number of significant issues”, we know and so do all the members who are contacting Inside Timeshare!
He goes on to complain that not all the company’s books, records and documents have been made available to him, it appears that he is unable to do his job because of this. Now the question is what actually is his job?
We know he has been appointed “administrator” of several other Trotta companies including Keys Concierge which we know has also closed down. He is also the administrator dealing with the liquidations of two BVI companies, Limora Investments Ltd the parent company to all the others and also Excel Overseas Holdings Ltd. We also know that a new company by the name of Excel Overseas Holdings is based in Dubai. So we can assume that his job is either to revamp the “Club” or “liquidate it”, we actually believe it is the latter given what his company does.
This letter also goes on to explain under previous management Club Paradiso failed to pay for the contractual agreements and arrangements with other service providers and resorts. Now we also know that all these “service Providers” and “resorts are all part of the same group of companies owned by the Trotta family under Limora Investments Ltd.
Again we see another tangled web of intrigue and dodgy dealings which is resulting in nothing but stress and anguish for the consumers who have paid considerable sums for these products. We know from our readers that they are all worried they are about to lose everything, not just the holidays not being honoured but now having to pay for new bookings after they have already paid their annual maintenance fees!
To Inside Timeshare, this does not seem to be fair, most of these members have initially paid thousands of pounds to purchase the product and also thousands in annual maintenance fees. Now it does not take a lot of working out, but these companies have made millions over the years and this is how they treat their clients. SHAME ON YOU!
Have you purchased any product from Silverpoint, Signallia Marketing or any other company and are worried about all that is going on, then use our contact page and let us know. We will explain what your legal options are and point you in the right direction to get the legal help you need.
Remember, the courts are finding in favour of the clients on all cases going to court, this may be the only way not to lose what you have “invested” in your holidays.
Welcome to the start of another week at Inside Timeshare, over the past few weeks we have been publishing many articles on Silverpoint, especially the move by the parent company Limora Investments Ltd (BVI) filing for liquidation. We have also published the news that The Paramount – Club Paradiso has closed their doors with many members unable to book, the website is down and no one seems to be answering the phones. We also reported on Keys Concierge having also gone into liquidation with all the staff losing their jobs, as we know the administrator dealing with the liquidation is Alex Lawson of Alvarez and Marsal working on behalf of the Trotta family.
So as you can imagine, Inside Timeshare has been inundated with emails enquiring about the legality of all the products sold by Silverpoint. The most prolific of these products and having by far the highest costs are the “Company Participation Scheme”, with purchases from 40,000€ all the way to 150,000€ plus. Just on the enquiries Inside Timeshare has received we are looking at purchases of well over one million euros, this certainly is a very big money making scheme, the question is where has it all Gone?
Now for some news from the courts around Spain.
Last Friday the leading law firm in timeshare litigation Canarian Legal Alliance, announced their results for the week, with 26 victories in various courts around Spain.
At the Court of First Instance in Maspalomas Gran Canaria, there were 11 cases found against Anfi, with 2 cases at the High Court of Las Palmas being found in favour of the clients after Anfi appealed.
At the same Court of First Instance, a sentence was issued against Palm Oasis.
In the Court of First Instance of Arona, Tenerife, Silverpoint was on the receiving end of the judges, with 11 rulings against them in favour of the CLA clients.
The last was against Club la Costa in Fuengirola, where the judge again found in favour of the client.
As usual, all contracts were declared null and void with the courts ordering a total of 1,226,260.15€ A very expensive week for the timeshare industry indeed. But at the end of the day, had they sold their products in accordance with the law, then they would not be finding themselves in this position.
If you have purchased any timeshare product in Spain and would like to know if you have a valid and viable claim or would just like to know your legal position and your options, then use our contact page. We will get back to you and point you in the right direction.
Over the past few weeks, Inside Timeshare has been receiving many emails regarding Club Paradiso, it seems that they all have one thing in common, they are not able to get into their resort and use their weeks. As we know, Club Paradiso has closed its doors, the website is down as is the website for Excel Hotels & Resorts the company which manages the resorts. It also appears that telephone calls are not being answered.
The latest email involves a member who has “invested” in several weeks, being elderly and now unable to travel abroad they decided to use their weeks and book an associated resort in the UK. Unfortunately, they have just received a call from the resort that their booking has been cancelled, the reason given is that Excel is not honouring the payments to the resort. This is despite being up to date with their maintenance fees.
This particular reader was supposed to be checking in this Sunday 7 July, now they have been left without their holiday with no other alternative to using their weeks anywhere else.
Other readers have also informed us that they have been moved to other resorts sold by Silverpoint, but have been told they would have to pay if they wanted to check in, despite already having paid this year’s maintenance fees. These resorts are also managed by Excel Hotels & Resorts.
We do know Silverpoint and Excel are in the middle of a dispute, what the reasons for this are is not actually apparent, but it is affecting many members of Club Paradiso who are now losing out on weeks they have purchased and paid the annual maintenance fees. This does not seem fair at all.
Although there are reports that Silverpoint has filed for liquidation it must be pointed out that so far they have not and due to the reasons surrounding this, it may be impossible to do so. If they do file for liquidation, this could result in criminal charges being brought as the reasons for the other liquidations has been fully explained in the link below.
These liquidations are an attempt to save the Trotta family finances, you can read the full story behind this in our six-part series Exclusive Breaking News: The Truth Behind Silverpoint Exposed (Part Six), on the link below.
This should put you the members in no doubt as to why you are likely to lose everything that you have paid for with your hard earned cash and in some cases with high interest loans brokered by the sales staff.
If you purchased any product sold by Silverpoint form standard timeshare weeks to the “investment packs” and the “company participation scheme” and would like to know where you legally stand, then use our contact page, Inside Timeshare will then point you in the right direction to help you decide on your options.
Welcome to Friday’s Letter from America, the last one for 2017, this week Irene looks at the past year from across “The Great Lake”, while we look at the past year in Europe.
Our first article of 2017 was about the family of fake lawyers from Tenerife, Litigious Abogados, it highlighted a new firm called Abogacia Española, which happens to be the name of the official website to check the validity of lawyers registrations. This was a very good move on the part of this well planned out fraud, as it did give an air of legitimacy when you did a web search.
Since then, we have seen many incarnations of this fake law firm, although the names have changed, one thing hasn’t, that is the nature of the fraud. They are still duping consumers into believing that they have a case at court, then to be part of it you need to pay the Procurator fees. That is only the start, it get even more sophisticated. Search Litigious Abogados for the full story.
This was a great blow to the RDO, as Silverpoint was also a major contributor. Funds this organisation could ill afford to lose. It has since come to our attention that the RDO is to form a partnership with ARDA (American Resorts Development Association). This particular organisation is well endowed with contributions and is very strong in the world of lobbying for its members. So it begs the question is the RDO going to be taking on board the tactics of ARDA?
Staying on the subject of Silverpoint, January was a momentous time on the legal front, with the Supreme Court making their first ruling against this company. This was the case of Mrs Shirley Wilson and her long battle against the selling tactics of Silverpoint.
Within a week the highest court in Spain ruled three times against Silverpoint, opening the doors for many more cases against them. Since then the rulings have been coming in thick and fast, leaving no doubt that what they had been selling was illegal.
February brought the news that Alberto Garcia had “stepped down” from Mindtimeshare and that the RDO would not be renewing the contract with that “Consumer Association”. Alberto Garcia for many years had been running the RDO’s“Enforcement Programme”, attacking any company which threatened the timeshare industry. This has now been given to Kwikchex and the “Timeshare Taskforce”, run by Chris Emmins.
Throughout the year, Inside Timeshare has been following the Anfi “Tauro Beach Project”, this has been a story that has now seen the former head of the Coastal Authority being charged with falsifying official documents and wrong doing in public office. No doubt we will see his trial sometime in the new year.
This project was to build a man made beach at Tauro, with the building of hotels and a shopping center. This was given to Anfi to run for 50 years, the Government of Gran Canaria is now seeking in the courts to remove these concessions in the light of the evidence of malpractice. This story is not over yet.
Anfi have been on the receiving end of many Supreme Court rulings since March 2015, they however have continued to deny any wrongdoing and inform their members that they have not lost any cases. In fact they have embarked on a campaign to attack Canarian Legal Alliance, trying to sow seeds of doubt among their clients. Below is a link to a video showing the National Spanish TV news on TVE 1, in this clip, one of the CLA lawyers explains the Supreme Court rulings. For the National Television to broadcast this item shows that CLA is doing what they say and that Anfi is trying to divert attention from this.
Another story we have been following is that of Los Clavelesin Tenerife and the battle for control of the resort. Again this is an ongoing story which at present seems to be dragging on. It revolves around the selling of Wimpen to ONA Grup, who were the managing company of this resort. Their contract has been ended but they still seem to be trying to run the resort against the wishes of the Owners Committee.
There has been a lot of argument on this issue, with some very nasty consequences, it is clear that this issue is not going to be resolved in the near future. It may also end up being a rather costly one with only the lawyers benefiting.
In July we published a rather different article on the timeshare world, this was a positive one, featuring a company that we have not been able to find any adverse comments or complaints. It is off course Disney.
This is a shining example of how the timeshare industry should operate, fair, truthful and with the consumer in mind. There again, it is what we expect from an organisation which prides itself on putting people first.
After a long reign TATOC finally went into liquidation, with Harry Taylor and TATOC being totally discredited. For years this organisation has duped not only timeshare owners but also organisations such as Citizens Advice Bureau. Any owner that went to CAB with a problem would be recommended TATOC as the place to go. Little did CAB know that this organisation was funded and basically run by the industry. All we can say is good riddance to a very bad and foul smelling egg!
There have been so many articles it is difficult to review them all, but Inside Timeshare has highlighted some of the most dodgy companies that have emerged over the course of the year. These articles have saved many readers considerable sums of money, we intend to continue with this.
But before we go on with Irene’s roundup of the year from the US, we finish with the news of yet three more sentences issued by the courts. On 27 December the Court of First Instance in Maspalomas declared yet another Anfi contract null and void with the client being awarded over 29,000€ plus legal interest.
On the same day the High Court in Tenerife announced another ruling against Silverpoint, with the contract being declared null and void and the client in this case being awarded over £9,000 plus legal interest.
There then followed on the 28 December another Supreme Court ruling from Madrid, this was number 82! Again the company was Silverpoint, with the contract being declared null and void and an award of over £23,000 plus legal fees and legal interest.
These cases were brought on behalf of clients of Canarian Legal Alliance, so this does show this law firm is doing what they say.
Now for the year from a US perspective.
What Timeshare Members Can Look Forward to in 2018 and what
I wrote looking forward to 2017 on December 26, 2016
Our Advocacy Group did not have a name one year ago, or a Facebook page. Our advocacy Facebook page was launched February 2017 and Timeshare Advocacy Group™ April 2017. As I write this, our advocacy Facebook page has 706 members. We encourage industry observers, as long as they are respectful.
Back in February, I remember scrolling down my Facebook feed, a pianist, waiting with nervous flute, oboe, trumpet, and bassoon middle school students for our competitions to begin, when I suddenly saw a post called “Diamond Resorts Owners Advocacy” launched by an economics professor. This Facebook page was launched in response to a draft article I had written and distributed, requested by a few former timeshare sales agents who felt the practice of “pitching heat” to sell vacation points needed to be addressed and brought to the attention of the general public. Based on reader responses, only Disney Vacation Club seems to disavow this sordid selling technique.
Our professor also prepared this mission statement for our DRI advocacy group, but as our Inside Timeshare readers started to reach out to us asking for help with timeshare issues concerning other timeshare companies, I borrowed our DRI mission statement and generalized it to apply to all timeshare companies.
We seek to provide timeshare members and owners a way to proactively address membership concerns; to advocate for timeshare reform; to obtain greater disclosure from the company; to advocate for a viable secondary market; and to educate prospective buyers.
April 2017, a former Diamond sales agent contacted me, urging me to write a press release as she was worried Diamond members were not aware of the Arizona Attorney General’s $800,000 DRI settlement and the Assurance of Discontinuance announced December 23, 2016. There was a May deadline to file a complaint.
This former timeshare sales agent said we needed a Facebook page so that readers had somewhere to respond. I didn’t even know how to use Facebook until I got mad at timeshare July 2015, but I struggled through the establishment of a Timeshare Advocacy Group™ page, delighted to find a butterfly with a “Knowledge Speaks, but Wisdom Listens” quote by Jimi Hendrix. My first concert I attended in high school was Jimi Hendrix, second row, in front of the mic.
I expected my new creation to last for a month or two, until the press release ran its course, but it continues to receive views. We consider this Timeshare Advocacy Group™ Facebook a clearinghouse of articles written about all timeshare companies and are grateful to all our volunteer admins for both Facebook pages.
Now a look back to what I wrote December 26, 2016 with updates
Timeshare Lawsuits 2017
By Irene Parker, December 26, 2016
Our Inside Timeshare mission is to offer timeshare owners accurate reporting on both the good and bad aspects of timeshare today. While we admit we bear more to the negative side of timeshare reporting, this thirteen page report from the US Department of Justice listing timeshare scams explains why:
The other reason is because the industry is not well regulated. Timeshare owners do not have the level of organization or funds necessary to compete with timeshare developer lobbyists. Lobbyists used to primarily direct their efforts towards influencing lawmakers, but more and more efforts are now being directed towards influencing US Attorneys General:
Looking to 2017, we need to look back and reflect on timeshare’s unresolved and continuing legal battles. Timeshare developers, former timeshare sales agents and solicitors, timeshare owners, federal and state regulators and advocates continue to weigh in on possible changes that will make timesharing more owner friendly and less predatory.
Will the final piece of this legal and regulatory puzzle result in a less aggressive and deceptive industry – or will practices continue unabated and unchecked resulting in more of the same?
WestgateUpdate 12/29/17: After the presidential election the CFPB dropped the Westgate investigation. President Trump is close friends with the Siegels, Westgate owner David Siegelwas seen campaigning next to the candidate in 2016. That’s Mr. Siegel to the left of Trump. Charles Thomas reported on the timeshare the Trump family is launching in Scotland, reported as a golf course in the US during the campaign.
“Westgate is facing lawsuits in several jurisdictions and a Consumer Financial Protection Bureau Investigation. Allegations include fraudulent and deceptive business practices ranging from high pressure sales tactics, failure to honor timely rescission requests, elder abuse, illegal debt collection practices and impermissible telephone solicitations.” The Capitol Forum June 27, 2016
Former Wyndham sales agent Trish Williams was awarded $20 million for exposing deceptive sales practices. While the amount will probably be reduced on appeal, it sends a message that courts and juries are listening.
The Manhattan Club Update: Remarkably, New York AG Eric Schneidermanmanaged to ban the owners of The Manhattan Club from working in the timeshare industry and achieved a $6.5 million settlement. Rarely is wrongdoing admitted. However, attorney Douglas Wasser, representing TMC owners, said “Hundreds of members will be helped, but there are over 14,000 members.” Even a settlement this size will do little to curtail predatory marketing and sales practices. The investigation took years.
Back in 2016
Attorney Douglas Wasser represents 30 Manhattan Club defendants.
“To my knowledge there has been no dismissal of any Manhattan Club proceeding at this point. The NY Attorney General investigation is proceeding, and the motion to dismiss a currently pending class action suit has been adjourned to January 5, 2017 for now. Three prior class action suits at the Manhattan Club have been dismissed. But, at least for the time being, the current class action still survives,” Mr. Wasser reported November 15. 2016
Marriott Vacation Club Racketeering Update: Most disturbing of all, political and legislative maneuvering in Florida resulted in a change in the definition of timeshare, seemingly in an attempt to circumvent the merit of the case, according to attorneys involved with the case. That was not the end of it. We will hear more about this case in 2018.
“The Marriott racketeering lawsuit seeks to abolish Marriott’s points program, which attorney said is unique among timeshare companies. It also seeks the return of fees and costs paid by buyers.”Paul Brinkmann reported October 13, 2016 for the The Orlando Sentinel.
Diamond Resorts Update:A judge ruled in favor of arbitration in the billion dollar lawsuit filed against the company, and Congress reversed the CFPB ruling that would allow class actions. Diamond Resorts is one of the only timeshare companies to have a class action ban in their contract, forcing arbitration. Arbitration is binding and private. Lawsuits filed are public record.
A recent class action was filed against Diamond Resorts:
Matt Daniel Finazzo, et al. v. Diamond Resorts International Club Inc., Case No. 5:16-cv-02256, in the U.S. District Court for the Central District of California.
I don’t mean to be the Grinchess that stole Christmas, so to end on a positive note,
People are listening!
Charles Thomas and I are hearing from people all over the world who are joining forces to work towards:
⦁ A legitimate secondary market
⦁ Less aggressive and deceptive selling
⦁ Less predatory lending
Thank you from timeshare owners to our regulators and lawyers working to protect us. Since last year we have found a few more self-help groups we are confident are on the side of the timeshare member and are not industry influenced.
So that is 2017 in a nutshell, if this coming year is anything like the last we will be seeing many more stories like these.
Inside Timeshare thanks all those who have contributed to the articles and also to all the readers and those who have contacted Inside Timeshare for help and advice. If you require any information on any company that has contacted you or you may be thinking of using but need to know about them, contact Inside Timeshare and we will point you in the right direction.
We wish you a prosperous New Year, enjoy your celebrations and we will be with you in 2018.
Now Timeshare Compensation in their blog is warning about this company, about their “dodgy” past and that they may have changed their name and the product, but may not have changed their ways. But who is Timeshare Compensation?
Well you will never believe this, but they are the trading name of ABC Lawyers, which is a company that belongs to one Mark Rowe!