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.