Browse Tag

Silverpoint

Start the Week: Spain on Lockdown

Welcome to another week with Inside Timeshare, as you will have seen from the news, Spain is now in a “State of Alarm” and we have all gone into lockdown and stuck at home. This has also affected the courts with all trials suspended with only the criminal courts operating and dealing with those who have been arrested. Therefore there is likely to be no news coming from the courts for some considerable time. Inside Timeshare will try to keep you posted on the latest with regards to the “fake law firms” and “scams” that we find.

There has also been a very disturbing email from one reader over the weekend, this is by no means the first one either.

Our reader received a call from someone claiming to represent Timeshare Legals Limited, although we have not published anything about them as all seemed to be above board this latest call is definitely one that has to be reported.

In the call to our reader who is a Silverpoint owner, the caller claims that the administration process of Silverpoint has reached a conclusion and there are no more creditors. Going on to say that to pursue Silverpoint claims via this route, in other words becoming a named creditor and making a claim is a waste of time. It was also stated that Silverpoint has also been sold to Ona Group.

Not to put things straight, the court-appointed administrator has not yet concluded their investigation, they still have a long way to go. They still have to identify all creditors, bank accounts and also the company structure. It is also a fact that any claim which is lodged against Silverpoint in the civil courts using the timeshare laws, the client will also be lodged with the Mercantile Court which is overseeing the liquidation process.

The job of the administrator is not to just go through the motions and liquidate the company, their first priority is to creditors, this means that they must try and find a solution to keep the company afloat or to ensure that it can be sold.

AS for Ona Group “buying” Silverpoint that is definitely untrue, Excel Hotels and Resorts SL has sold their management rights to Ona Group, this means that now all the resorts are under the management of Ona. They are now responsible for the running, maintenance and the collection of fees.

Although we know that Excel and Silverpoint are part of the same group of companies, their respective fields are different.

Silverpoint was the sales and marketing arm, they sold the products and the resorts, Excel was the management company responsible for running the resorts, two totally separate areas.

Once again this shows that you cannot take at face value what someone on the end of the telephone and cold calling you are saying. Do your homework before you go any further.

So from the lockdown in Spain take care and stay safe.

Wednesday Report: Marriott in the News

Due to unforeseen circumstances Inside Timeshare was not able to complete the article for publishing yesterday, this has been postponed for another day. We have also been hearing from various readers regarding their Marriott ownerships and the news they have been given that Marriott Timeshare is in imminent danger of collapse. Well, things couldn’t be further from the truth, as you will see with the latest developments from the courts regarding Marriott.

We begin with Claims Solutions Group Ltd based in Aberfeldy, Scotland, this company came to light several years ago when they began contacting Diamond Resorts owners under the company name of Timeshare Solutions Group Ltd. Since then they have moved on to other timeshare companies including Silverpoint, now they appear to be targeting Marriott owners.

We don’t see a problem with this but it is what these owners are being told is what makes it worrying. In the call, the member is told that due to the number of cases that Marriott are losing in the Spanish courts the collapse of Marriott Timeshare is imminent.

So one of the largest timeshare and vacation companies in the world is in danger of “collapse”!

Marriott has many interests including the ownership of one of the largest timeshare exchange companies in the world Interval International, they are also a public listed company and as such have a duty to shareholders. So it is very strange indeed that none of this has been made public!

We suspect that this is yet another ploy to scare owners into taking up a legal service.

It is a fact that in July 2018, Inside Timeshare published the article “Marriott Admit Losing in Spanish Courts”, this article explained that in their public statement to shareholders they did admit they were losing but they also set aside $16.3 million to cover these cases. No doubt with more cases entering court they will set aside even more.

Link to the original article and to the report published in Market Exclusive.

https://insidetimeshare.com/marriott-admit-losing-in-spanish-courts/

https://marketexclusive.com/marriott-vacations-worldwide-corporation-nysevac-files-an-8-k-other-events-4/2018/07/amp/

Following on from the above today Inside Timeshare received the news that Marriott who lost a case at the Court of First Instance Number 7 in Palma de Mallorca, decided to appeal the sentence. The companies involved in the case were MVCI Holidays SL and MVCI Management SL the successor to MCVI Management Europe Ltd.

The twist in this story is that they then immediately paid voluntarily the original amount awarded to the court. It is believed that they have also retracted the appeal. Obviously they have realised that they really do not stand a chance of overturning the original ruling and have bowed out “gracefully”. This can only be good news for Clients with cases already underway and for those contemplating taking out legal action.

In this case, the court declared the contract null and void as it contained floating weeks and the contract was over 50 years in duration, the German client of Canarian Legal Alliance is now set to receive over 48,000€ and is also timeshare free.

The lawyer representing this client was Adrián Diaz-Saavedra Morales of Canarian Legal Alliance, so congratulations on a job well done.


Adrián Diaz-Saavedra Morales

That is it for today, but please remember to check for yourself any information that you are given regarding your timeshare, much of it is scaremongering to make you sign up for a service that is unlikely to ever happen. As we always say:

DO YOUR HOMEWORK YOU HAVE NOTHING TO LOSE!

Start the Week: Latest News From the Supreme Court

Welcome to the start of another week with Inside Timeshare, today we bring you news which came in late on Friday from the courts. The first is a sentence from the High Court of Las Palmas de Gran Canaria against Anfi, one from the Court of First Instance in Arona, Tenerife involving our old friends at Silverpoint and a very important decision from the Supreme Court in Madrid.

This case was heard in the High Court and was an appeal by Anfi against the sentence issued in the Court of First Instance. This has become a very regular occurrence by Anfi who still believe that the law has been interpreted wrongly by the courts and especially the Supreme Court.

In this sentence from the High Court, Anfi Sales SL and Anfi Resorts SL have been ordered to reimburse the Norwegian client over 41,000€ with the contract being declared null and void. As usual, the infringements in the contract were the use of floating weeks, the length of the contract and the taking of payments within the Statutory cooling-off period.

In the Court of First Instance of Arona, Tenerife, Silverpoint was ordered to repay one UK client over 68,000€ with the contract being declared null and void. Immediately after the sentence was issued the enforcement team at Canarian Legal Alliance launched a separate case to embargo the accounts of Silverpoint.

The team managed to secure the funds and this has now been released to CLA’s escrow account and has already been transferred to the client’s own account. So another happy ex-timeshare owner.

We now move to a very important decision by Spain’s Supreme Court in Madrid, as we already know this court has ruled 130 times against timeshare companies and has enforced the Timeshare Law 42/98 which all courts must now follow.

This follows yet another appeal by Anfi Resorts who lost in both the Court of First Instance and the High Court, expressing their discontent at the decisions made by the lower courts and also the precedents set by Spain’s highest court. As we stated above, Anfi still believes that the law is wrong and that the courts especially the Supreme Court have misinterpreted the law.

This time the Supreme Court did not hear the case, it was rejected and sent back to the High Court for the execution of sentence, the court also rejected reviewing the sentence and have made it quite clear that they will reject any further appeals. The court believes that they have made enough rulings on this subject and that the law is very clear. It is also very apparent that the Supreme Court is likely to reject many more appeals from the timeshare industry.

In this case, the client is now set to receive over 124,000€ along with legal interest and legal costs and has also had their contract declared null and void, another very happy ex-timeshare owner.

Once again these cases were brought on behalf of the clients by the lawyers of Canarian Legal Alliance, so congratulations are in order to the whole legal team at CLA.

If you have any questions about this or any other article published or you would like to know if you have a contract which may be illegal, please use our contact page and Inside Timeshare will get back to you.