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Santana Cazorla

Anfi: The Story Behind the News Part Five

We end this week with Part Five of “Anfi: The Story Behind the News”. It began with the “dream” of one man, it was certainly a vision that was becoming reality, unfortunately all that was to change. Then there was the brief partnership with Tui, which gave rise to the takeover by Santana Cazorla. Since that time we have seen many boardroom clashes, court battles and the instigation of many investigations into Anfi and the controlling party. Today we highlight the latest in those battles and once again it is the Cazorla’s against the Lopesan’s.

The latest case is very interesting, it has opened up so many possibilities, but the motive behind it all is what made it more interesting.

Mercantile Court Las Palmas

The case was heard in The Mercantile Courts of Las Palmas, Gran Canaria, this is after a long battle that has been quietly raging behind closed doors. In one corner is Cazorla, in the other Lopesan, and the stakes are high.

The case has ended up before the Courts as Lopesan has argued for the involuntary bankruptcy of Anfi Sales and Anfi Resorts. It has fallen on Magistrate Alberto López Vallarubia to decide on the matter.

He must now decide if these companies have sufficient assets in order to service their short-term debts, if not their insolvency should be declared. This would mean the appointment of a court administrator to manage the liquidation or salvage the companies. According to our sources, the appointed administrators would rather find a solution such as selling off the company.

The case has been brought by another of the Lopesan companies Isla Marina SL and is also a creditor of the two named companies. They claim this debt is around 30 million euros.

So this brings us to our original question, motive.

We all know or suspect that Lopesan would love to establish full control over Anfi, we also suspect that the Lyng family would also welcome that news.

According to the discussions we’ve been having with those more akin to business matters, this certainly looks like what they termed a “hostile” takeover. The more the discussion continued the more examples kept appearing, not just in timeshare but all across the board.

Could this be a “legal” way of gaining control of a company that is on the board?

As we stated, the appointed administrator has to find a solution, selling the company to pay off a debt or part of a debt is a possible solution. It may also give Lopesan if they take over the two companies the leverage they require.

At the moment it is all pure speculation, this is just one scenario albeit a very plausible one, but you will hear and be told some stories in the coming weeks until the courts make their decision public. We will then have a long wait while the Court Appointed Administrator carries out their work.

If you already have a case in the pipeline and you are not sure what you have been told is true, please contact your legal representatives, they will be able to reassure you.

This has been an interesting series of articles to research, there was a lot more information found, but then this is not the place for something of that length, maybe in the future it may all be told.

Inside Timeshare hopes, you have enjoyed the articles and they have made you think about what is going on behind the scenes, you as members have a vested interest, after all, you paid a lot of money for your membership along with the annual maintenance fees.

Many of these contracts are the subject of the many articles published about the court cases around the world of timeshare, not just Anfi, but Diamond, Marriott and others. All in breach of the laws enacted on 5 January 1999, this law has been enforced by the rulings of the Supreme Court and are very much in favour of the consumer.

If you would like to find out if your purchase is covered and you do have a valid and viable case, then to see what options are open to you, please use our contact page and we will get back to you.

Have a great weekend and join us again next week. 

Links to previous articles on the legal battles.

https://insidetimeshare.com/great-anfi-battle-partners/

https://insidetimeshare.com/the-great-anfi-battle-of-the-partners-round-2/

Translations

Danish

https://insidetimeshare-com.translate.goog/anfi-the-story-behind-the-news-part-five/?_x_tr_sl=en&_x_tr_tl=da&_x_tr_hl=en-GB&_x_tr_pto=nui,elem

Dutch

https://insidetimeshare-com.translate.goog/anfi-the-story-behind-the-news-part-five/?_x_tr_sl=en&_x_tr_tl=nl&_x_tr_hl=en-GB&_x_tr_pto=nui,elem

Finnish

https://insidetimeshare-com.translate.goog/anfi-the-story-behind-the-news-part-five/?_x_tr_sl=en&_x_tr_tl=fi&_x_tr_hl=en-GB&_x_tr_pto=nui,elem

German

https://insidetimeshare-com.translate.goog/anfi-the-story-behind-the-news-part-five/?_x_tr_sl=en&_x_tr_tl=de&_x_tr_hl=en-GB&_x_tr_pto=nui,elem

Norwegian

https://insidetimeshare-com.translate.goog/anfi-the-story-behind-the-news-part-five/?_x_tr_sl=en&_x_tr_tl=no&_x_tr_hl=en-GB&_x_tr_pto=nui,elem

Swedish

https://insidetimeshare-com.translate.goog/anfi-the-story-behind-the-news-part-five/?_x_tr_sl=en&_x_tr_tl=sv&_x_tr_hl=en-GB&_x_tr_pto=nui,elem

Breaking News: Prosecutors Office Denounces Anfi

Further to our article about the Anfi partner IFA’s AGM published on 22 July 2019, in this article, it was revealed that IFA was subject to questions regarding all the court cases, the possible cost to IFA and what it would mean to shareholders. The article also explained how IFA is being denied any influence or information on the running of Anfi by their partners Santana Cazorla who owns the “Golden Share”. Today’s article brings in a new dimension to the tale.

The newspaper El Diario has published that The Provincial Prosecutor’s Office of Las Palmas has now filed two complaints against two of the Anfi Group Companies, Anfi Resorts and Anfi Sales. The nature of the denuncias is for hiding assets in order to avoid seizures of money in the execution of sentences issued by the courts against Anfi Group for the numerous infringements of the law in the sales of their timeshare product.

Link to the full report published by El Diario 26 July 2019. (To translate from Spanish open in google and right-click on the article selecting translate)

https://www.eldiario.es/canariasahora/tribunales/Fiscalia-denuncia-Anfi-ocultar-embargos_0_924258398.html?fbclid=IwAR2RFYXoewmBTTWBITZLZcXgTe-nSnEmsBgkz04DVFTqzrXm9czh6dqsx5Y

English Translation.

https://translate.google.es/translate?hl=en&tab=wT1&authuser=0&sl=es&tl=en&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftribunales%2FFiscalia-denuncia-Anfi-ocultar-embargos_0_924258398.html

On 12 July, the Prosecutor Elena Herra signed the papers that send the investigative proceedings opened in January to the Court of San Bartolomé de Tirajana. This follows denunciations by two lawyers Eva González of Canarian Legal Alliance and Miguel Rodriguez Ceballos (formerly of CLA) on behalf of clients following Anfi’s failure to pay the court awarded amounts to the clients by enforcing embargos.

This process is being initiated in all cases and given the refusal of the Anfi Group to comply and voluntarily pay as requested by the courts, the court has demanded a list of all assets in order to embargo and seize the assets.

It is also alleged that since 2014 to the present millions of euros have disappeared from these current accounts with the balances being practically zero. This is despite the fact the activity of the selling of timeshare at Anfi has neither ceased or decreased as stated in the annual statements of the Anfi Group.

The information has revealed that Anfi Resorts and Anfi Sales accumulated more than 13 million euros in sales one month before the Supreme Court made its first-ever ruling establishing that no contract was to be sold for a duration of more than 50 years (Law 42/98). By December 2017 those 13 million euros had been reduced to 400,000€ and that figure has decreased even further within the last 18 months.

In this specific case, five examples of cases in which Anfi have failed to pay on sentences issued by the courts between 2017 and 2018, some of these are for sums in excess of 200,000 euros. This is despite the fact that there are in existence orders and decrees that urge the company to comply with the execution of sentences under severe penalties for serious disobedience.

The Prosecutors Office has requested that preliminary proceedings be opened in the courts regarding these facts and that the legal representatives of Anfi Sales and Anfi Resorts, members of the boards of directors for both companies in 2018, persons responsible for services be investigated as legal entities and the person responsible provide the relationship of the assets to the courts.


Court of San Bartolomé de Tirajana, Maspalomas, Gran Canaria

A second article was also published by El Diario on 28 July, in this article, it was announced that lawyers from Canarian Legal Alliance on behalf of their clients have filed for a court administrator to be appointed to oversee the accounts.

According to El Diario Anfi stopped the first of three applications to the court by immediately settling with the clients and paying them what they were due. However, in the case of other clients, the court has already convened for September to try and reach an agreement to pay them if this is not settled the court will activate the option of the Judicial Administrator and embargo the accounts.

This leaves Anfi in a very precarious position as the emptying of accounts to avoid payment could lead to criminal action against the companies and the responsible persons involved. It leaves us in no doubt that the courts are taking this matter very seriously.

Link to the second article published by El Diario.

https://www.eldiario.es/canariasahora/tribunales/Anfi-Timesharing-Condenas-Justicia-Deudas_0_922158442.html

English Translation

https://translate.google.es/translate?hl=en&tab=wT1&authuser=0&sl=es&tl=en&u=https%3A%2F%2Fwww.eldiario.es%2Fcanariasahora%2Ftribunales%2FAnfi-Timesharing-Condenas-Justicia-Deudas_0_922158442.html

For those clients with cases yet to be heard or waiting for sentences to be issued this is very good news indeed as it will set a precedent and will lead to quicker payments as ordered.

Inside Timeshare will be watching this latest development very closely and will publish any further news when it comes in.

The Great Anfi Battle of the Partners Round 2

Back in March 2016, Inside Timeshare published the article The Great Anfi Battle of the Partners, this highlighted the long running arguments between the Lyng family and Santana Cazorla, the 50% partner in Anfi, who also controls the Board.

http://insidetimeshare.com/great-anfi-battle-partners/

It centered mainly around the disappearance 8 million Euros between 2012 and 2013, the diversion of these funds was apparently noticed  by the Lyng’s while a lawsuit was pending between Cazorla and Lopesan. This lawsuit revolved around a 14 million Euro debt, which Lopesan claimed was owed to them by Cazorla as they had bought the debt from the Cardenas family. This debt it is claimed was for the land which Cazorla purchased from Cardenas for the golf course and complex at Anfi Tauro.

Well the story has not ended there, round 2 is up and running.

Just recently the Spanish press has been running several stories on the continuing battle between Cazorla and Lopesan, it also involves the new head of the Costas, Rafael López Orive, who is facing charges of “Prevarication”. (For the full story on this click the link below).

https://www.elconfidencial.com/empresas/2018-07-22/anfi-canarias-direccion-general-costas-juez-investiga_1595609/

http://espiral21.com/santana-cazorla-demanda-a-ifa-por-fraude-en-la-compra-de-anfi/

In another twist in this long running dispute between the two major players in the tourist sector in Gran Canaria, Santana Cazorla has issued a lawsuit filed in June 2018 at the Mercantile Court in Las Palmas, involves Bankia, the public bank of the Spanish State and 6 million euros.

http://espiral21.com/bankia-rebajo-6-millones-a-lopesan-la-compra-de-creditos-de-anfi/

Apparently it looks like Bankia lowered the price for the purchase of credits from Anfi del Mar by Lopesan by 6 million euros and according to the lawsuit Cazorla states:

“Lopesan ha estado comprando créditos existentes contra las sociedades de Anfi y contra las empresas del grupo Santana Cazorla a diversas entidades bancarias”.

“Lopesan has been buying existing credits against the companies of Anfi and against the companies of the Santana Cazorla group to various banking entities.”

The situation between the factions is complicated and we will no doubt be seeing many more lawsuits and counter lawsuits being filed, this now begs the question, what does this actually mean for those members of Anfi?

When IFA Lopesan purchased their 50% share, it left many wondering where Anfi would be heading, would Lopesan if they do take full control turn Anfi into a hotel and do away with the timeshare model?

Looking at the history of Anfi and comments from members, since the Cazorla’s purchased their 50% share and took control of the board, Anfi has been seeing a slow decline in standards, a series of scandals and lawsuits, with the latest being the Tauro Beach Project. It must also be remembered that Anfi are also losing heavily in the courts for the past mis-selling of their timeshares.

What the future has in store for this once great resort, no one really knows, what we can say however is that it is going to be at a cost of millions of euros in legal bills, something the Anfi members should be very much aware of, yet we believe that they will as usual be kept in the dark and fed whatever “spin” Anfi can put on it.

https://www.abc.es/espana/canarias/abci-sandwich-holandes-lopesan-incordia-santana-cazorla-anfi-mar-201806210739_noticia.html

If you have any questions or comments on this article or even want to know if you have a valid claim to retrieve your purchase price and have your contract declared null and void, then use our contact page. Inside Timeshare will get back to you and endeavour to answer your questions and concerns with facts.

Tomorrow Friday’s Letter from America asks what the future holds for Americano Beach Resort after the hurricanes Matthew and Irma, this is from another new contributor Meryl Stefan, with the introduction by Irene Parker.

So join us for our last article of the week for more news and information on the world that is timeshare.