Browse Tag

Silverpoint Vacations SL

Start the Week: A Little Known Name but Integral to Silverpoint

Welcome to the start of another week with Inside Timeshare, last week we ended with a report on yet another fraud that has come to light involving what we have dubbed The Litigious Abogados Family. This time they have used the website and name of a genuine law firm and using it for their own nefarious purposes, the genuine law firm is now well aware of the situation and has taken appropriate action. Today, however, we bring you a name that has not appeared often on our pages. It is well known among the clients of Silverpoint as this person has been an integral employee of many companies within The Limora Group for many years.

When it comes to the long drawn out story of Silverpoint and the many “fraudulent” products which they have peddled over the years, the main names to appear are always the CEO Mark Cushway, the owner of Limora Group, the late Robert “Bob” Trotta and the “Chinaman”, Kwang Boon Sim, Trotta’s financial guru. 

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

One name which has been left out is Diana Aitchison, who has had a very long association with the various companies linked with Silverpoint. Her positions have been varied and in most cases, it has been in senior management working closely with Mark Cushway.

Diana Aitchison

During all this time, Silverpoint was engaged in the sales of timeshare, a product which they completely turned on its head, from the initial “investment” packs of weeks to the culmination in deception, the “Company Participations”.

It is these “company participations” which are of most interest, as this is where Diana Aitchison’s involvement is questionable.

While with Silverpoint, which were actively promoting and selling the “Company Participation Scheme”, it was in fact Diana Aitchison who “signed off” the majority of the purchases.

To recap, this “scheme” replaced the “investment” weeks, where a “victim” purchased a series of weeks, usually 6 to 8 weeks with apartments attached. These were sold with the promise of a rental income, which would cover the maintenance fees, and after a two year period, they would be resold at a profit.

We know from all the court cases that this never happened.

The “company Participations” scheme was essentially the same product, but there was a twist. The “apartments” were registered as S.L. (Sociedad Limitada) or limited companies. The weeks were “shares” or as they call them, “participations” in this company, the same “promise” was made as with the “investment” weeks, an income from rental, and eventual “ownership” of the company, (this is the simple version, see link below for further information).

https://insidetimeshare.com/silverpoint-company-participations-is-timeshare/

Now, remember that Diana Aitchison signed off the majority of these deals, with her move from Silverpoint to Excel Resorts as Chief Operating Officer, she was now responsible for the administration of the “scheme”.

Excel is also a major part of The Limora Group, so in effect is the “sister” company to Silverpoint. Excel manages the resorts, Silverpoint sells them. So it was really a move from one branch to another.

When the “companies” are registered, the Administrators are listed as Excel Hotels & Resorts SA, Diana Joan Aitchison and the Only Partner is Silverpoint Vacations SL.

Talk about keeping it in the family.

When checking the company registration for one “company” Palm Beach Tenerife 077 SL, which was registered around 7 years ago, Diana Aitchison is listed as one of the administrators. The sector the “company” is registered in is “Real Estate or Similar”, a very large category.

It also gives a link to other companies with whom she is associated, one of these is Palm Beach Tenerife 117 SL. In this, she is the “Sole Partner” with Excel as the “Sole Administrator”. But it is also the other links that are of interest, which also brings up links with the “inactive” roles with other companies. Some of which are very familiar names indeed.

Company Record for Palm Beach Tenerife 117 SL, notice the sector.
This does bring up alarm bells, so why was she not suspicious?
The registered Address of Palm Beach Tenerife 117 SL
Positions held
Positions held now inactive
Information is publicly available using https://www.infocif.es/

Another link between Diana Aitchison, Mark Cushway and Kwang Boon Sim, is Vacation Finance Ltd, (link to Company House Register below).

https://find-and-update.company-information.service.gov.uk/company/09726642/officers

This company is linked to the Finance Agreements brokered by Silverpoint for the sales of the “investment packs” and the “company participations”. They are also linked in these finance packages with HMC Finance, and all loans went through with Barclays Partner Finance.

Now considering the length of time Diana has worked in this particular industry and given all the links that she has, it does make you wonder how she could not have known that what was going on was a fraud of epic scale, surely she must have had her suspicions?

We ask this question for one simple reason, the legal battles in the courts over the sales made by Silverpoint and formerly Resort Properties, have been going on for around 12 years. It may be longer, but it has been well known that a possible fraud was being committed and this is being borne out now in the courts.

What actually started this quick research into Diana Aitchison was information received by Inside Timeshare of her involvement with a charity, of which she has been a director since 2014.

Our informant was rather disturbed that she was involved, especially as a director given her links to one of the most investigated frauds in timeshare history, it was also the fact that a person with a link to HMC Finance was taking part in an event for the charity and is personally known to Diana.

It obviously made us think, surely with her involvement in companies which are being criminally investigated, an investigation which has taken on an international hue, her position as a director of a charity is untenable?

We leave you the reader to decide, but we know what our answer will be!

The story of Silverpoint is going to be with us for some time, as the results of the investigations become public, we are bound to find some very interesting twists to the plot. It might take a long time, but the truth will become known.

To end today’s article, we have just received information of another name of a genuine law firm that appears to have been used by our friends The Litigious Abogados Family. Further information on this will be published once the facts are established. WATCH THIS SPACE!

Translations

Danish

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=da&_x_tr_hl=en-GB&_x_tr_pto=nui

Dutch

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=nl&_x_tr_hl=en-GB&_x_tr_pto=nui

Finnish

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=fi&_x_tr_hl=en-GB&_x_tr_pto=nui

German

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=de&_x_tr_hl=en-GB&_x_tr_pto=nui

Norwegian

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=no&_x_tr_hl=en-GB&_x_tr_pto=nui

Swedish

https://insidetimeshare-com.translate.goog/start-the-week-a-little-known-name-but-integral-to-silverpoint/?_x_tr_sl=en&_x_tr_tl=sv&_x_tr_hl=en-GB&_x_tr_pto=nui

End the Week: More Court News

Welcome to the end of another week with Inside Timeshare and what a week it has been, with many enquiries from readers regarding “cold calls” and some of the wild claims being made such as the “fake” claims of Club la Costa and Marriott going into liquidation. We also featured Part 2 of Timeshare Contracts: Held to Ransom. Plus there were some rather interesting results from the courts. We end this week with the latest court news.

At the High Court Number 11 of Barcelona, it was the turn of the Ona Group to be on the receiving end of an appeal being dismissed and the judgement of the Court of First Instance being upheld.

In the original judgement, the Court of First Instance declared the clients contract null and void, awarding the English client 112,724€ plus legal Interest. In this case, the client paid 70,000€ with the extra 42,724€ being made up of the illegally paid deposit taken within the statutory cooling-off period being awarded double.

It is a buyer’s right to withdraw from any contract without any financial penalty within the statutory cooling-off period, which is why it is illegal to take any payments as in the past this was used as a tool to ensure clients did not cancel.

The cooling-off period can be extended to 90 days, which will mean double the amount paid within that period if the purchaser has not been given the necessary information required by law.

The Lawyer conducting the case was Eva Gutierrez of Canarian Legal Alliance with Claims Consultant Jake Kaiser assisting the client.

In another case conducted by Canarian Legal Alliance on behalf of another English client, the High Court Number 3 of Las Palmas, GC, once again fully endorsed the judgement of the Court of First Instance which Silverpoint Vacations SL appealed.

In this case, the contract was declared null and void with the court ordering Silverpoint to repay 98,722€ plus legal fees and legal interest. Once again the court awarded double the amount paid as a deposit within the statutory cooling-off period.

This is just another nail in the coffin of Silverpoint, it also clearly shows that all the courts are now singing off the hymn sheet and applying the numerous rulings made by the Supreme Court which now number 130.

The case was conducted on behalf of the clients by Oscar Salvador Santana Gonzalez with Claims Consultant Jake Kaiser assisting the client.

No doubt before the end of the day there will be more news coming from the courts which we will bring you next week.

On Monday, Inside Timeshare will be giving an update about the ongoing case of Mrs B and MacDonald Resorts, for those who have been following Inside Timeshare for the past 4 years you will be familiar with the case.

Mrs B paid a company to get rid of her two timeshares, one at Oasis Lanz in Lanzarote, the other at Dona Lola Club on the Costa del Sol, a Macdonald run resort. Both were duly transferred to another person, no problem with Oasis Lanz, they just accepted it, not so for MacDonald’s.

They have pursued Mrs B with debt collectors and law firms for the arrears as they do not recognise the transfer. The latest news is that McDonald’s “legal bully boys” Shepherd and Wedderburn based in Scotland are now intent on taking her to court with her sister.

Both are in their 90’s and both have serious health issues, with both being virtually housebound. Yet Shepherd and Wedderburn are sending them documents of cases (6 in total) that they have conducted for MacDonald Resorts over arrears and won. If these are not tactics to scare two elderly ladies I don’t know what is. Join us on Monday for the latest instalment of this disgusting case.

Have a good weekend and take care.

Court News: Silverpoint Appeal Dismissed; Anfi Lose at Pre-trial

Yesterday Inside Timeshare published the article titled One-Sided Press Reports? This was following the article by Andrew Penman of the Daily Mirror about a court case against Carl James Associates being brought on behalf of a client by Club La Costa. The case revolves around an “exit” of a CLC membership Carl James was supposed to do for a client at a cost of £4,200. Although the client had not signed any contract and wanted to terminate the service, they were told they were in breach of contract and would not receive a refund. The way the story was put together all blame was placed on Carl James for their behaviour, yet as our article pointed out Club La Costa along with other timeshare companies are the main reason these “exit” companies exist. Inside Timeshare has already received many emails arguing the same thing, isn’t Club La Costa just the pot calling the kettle black!

Today we bring you the latest news from the courts in the Canary Islands, we begin with a very good result for one English client of Silverpoint Vacations SL.

The High Court Number 3 of Santa Cruz de Tenerife has once again dismissed another appeal by Silverpoint and upheld the ruling of the Court of First Instance of Arona. The judges confirmed the original sentence and declared the contract null and void.

The court has also ordered Silverpoint to repay the client over 45,000€ plus costs and legal interest. Both courts also followed the Supreme Court rulings and ordered the payment of double the amount of the illegally taken deposit. The law clearly states that it is illegal to take any form of deposit even by a third party within the statutory cooling-off period which is 14 days.

Due to the situation regarding the liquidation of Silverpoint, this case will now be submitted to the Mercantile Court for the recovery of the funds to the client.

The client was represented by the Canarian Legal Alliance lawyer Miguel Angel Melian Santana with the Claims Consultant Jake Kaiser assisting the client with translations.

The next case is against our old friends Anfi in Gran Canaria, the case was heard at the Court of First Instance of San Bartelomé de Tirajana Number 3, where the court declared the contract null and void.

Other infringements of the law included the contract was longer than the 50 years duration allowed by law and it contained floating weeks which are also illegal. There was also the taking of an illegal deposit within the statutory cooling-off period. Anfi has now been ordered to repay over 14,000€ plus legal interest.

This case was heard in record time taking only 10 months and considering that the courts were closed for almost 4 months. It is also a case where the judge deemed that no trial was needed and issued his verdict after the pre-trial. This has become a very common practice at the Courts in SBT, let us hope that other courts begin to follow suit.

The Swedish client, in this case, was represented by Lawyer Oscar Salvador Santana Gonzalez and assisted by the Claims Consultant Michael Gadman.

There has been more news arriving from the courts this morning but they have not yet been released, these are just some of the cases being pursued by CLA, on their website under News, Facts & Figures, they have what they call a “dashboard”.

This is updated to give accurate figures of the number of cases, the potential amounts being claimed along with the amounts already paid as well as other interesting statistics.

So far the total amount of cash payouts and transfers to clients is a staggering

45,597,898.73€

At Present CLA has 3342 clients and 1951 live cases at court, no wonder the courts are so busy!

To see the full facts and figures follow the link below.

If you would like to know if you have a valid and viable case in the Spanish courts, please use our contact page and Inside Timeshare will get back to you.