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The Paramount

Club Paradiso: Latest News

Inside Timeshare over the past months has been reporting on the latest developments regarding Club Paradiso and The Paramount. We reported some time ago that Alex Lawson of Alvarez and Marsal became the administrator of Club Paradiso Ltd and began proceedings to liquidate the company (club). We also reported earlier in the year that many bookings made by members had not been honoured, the reason given was that Excel Hotels and Resorts had not been paid for the bookings. Many members arrived to find The Paramount closed and had nowhere to stay unless they paid yet again.

The strange thing is that all the companies involved in this are all part of the same group of companies of which Alex Lawson is being placed as administrator to liquidate them. He is also the appointed liquidator of Limora Group the parent company of Silverpoint, Excel Resorts and a host of others.

In the latest letter to members Alex Lawson tries to explain what is going on, he begins with the excuse of a “breakdown of relationships with a number of inventory providers”, which necessitated the suspension of all new bookings from June 2019.

Alex Lawson

He then goes on to explain that the “company” had been working hard to honour “existing 2019 reservations as far as possible.” Unfortunately for the majority of members, they have had to make their own alternative arrangements.

The letter goes on to state that given the issues that face Club Paradiso they are unable to confirm any bookings for the 2020 period. His advice is to contact the destination resort to confirm if the booking is still valid and arrange “for payment” for the accommodation or to “confirm cancellation.”

The next paragraph which is in bold and underlined goes on to say:

“For the avoidance of doubt, please note that, in the case of bookings for the 2020 calendar year, whether previously confirmed or unconfirmed by Club Paradiso, Club Paradiso is not able to maintain these bookings and is not able to assist with payment or the sourcing of alternative accommodation in respect of the same. This applies to any bookings made during (or before) 2019 for the 2020 calendar year (and beyond).”

Well, that is blunt and straight to the point, members will get nothing.

Lawson then goes on to say that the property (The Paramount) “was never owned by the club,” it was only made available to members through a lease agreement, he then states that the company (Club Paradiso was not a direct party to).

Again he goes on to blame “unpaid lease payments” as the reason why The Paramount was “unable normal operations”. This resulted in The paramount having to deny access to club members.

Lawson then explains that The Paramounts former owners (whoever they are) agreed on a sale and it is now under new ownership. He also points out that Club Paradiso was not directly involved in the sale and is unable to provide any information on the sale or the future of The Paramount.

Now considering that Lawson is involved in the liquidation of many of the companies of Limora Group and the fact they are all interconnected it does seem very strange that he claims he does not know what is going on!

So to recap, Alexander Lawson as liquidator closes down Club Paradiso along with The Paramount itself claiming unpaid fees,  using this as justification to members/investors as the reason the building is closed.

The building is then sold to a real estate company in Tenerife who are now selling the apartments off as individual units (so why is the money made from this sale not given to the investors as per their contracts?). He also believes that nobody will take any legal action but will just roll over and lose everything they have paid for, somehow Inside Timeshare cannot see this happening.

It is now becoming very apparent that the whole structure of which Silverpoint is a part of is just a very large criminal enterprise. This also includes the actions of the liquidator who is taking action which does not benefit creditors or the club members themselves, His actions are guided by his employers the UBO’s (ultimate beneficial owners) the Trotta family who all reside in the USA. (See link below for the full story if the reasons behind the liquidations).

Inside Timeshare has also heard through the grapevine that the State Prosecutors Office of Tenerife has also included Alex Lawson in their criminal investigation. Further information on this when there is confirmation.

What Inside Timeshare can reveal at this point is that one law firm is already on top of this and is currently taking action on this, no prizes for guessing which law firm, Yes, Canarian Legal Alliance.

If you are a member of Club Paradiso and would like to know your legal options or further information you can either use the contact page on Inside Timeshare or you can contact Canarian Legal Alliance direct through their website: https://www.canarianlegalalliance.com/

Link to the 6 part article on the liquidations.

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


Exclusive Breaking News: The Truth Behind Silverpoint Exposed (Part Six)

Welcome to the start of another week at Inside Timeshare, we begin with Part Six of The Truth Behind Silverpoint Exposed, which we have been publishing for the past few weeks. This is a story of epic proportions, worthy of a Hollywood Blockbuster movie, it is full of behind the scenes financial manipulation and the moving of millions of euros from one account to another in order to hide and save the Trotta family fortune. It is a story of a family at war with itself wracked with greed, with the wife Ragni Trotta being left out of the will. All this at the expense of the hundreds of consumers who have purchased into their products and are now set to lose everything.

Over the years Silverpoint and before them Resort Properties duped consumers into purchasing “packs” of weeks as investments, with the promise of rental income and a resale program after two years with a substantial profit to be made on these resales. But as we already know, there was no resale program, just more lies to get the unsuspecting consumer to upgrade and purchase even more to secure the “investments” they have already paid for.

We have seen this progress to the “Company Participation Scheme”, which is exactly the same as the original “investment weeks” apart from the fact the “apartments” are now registered as Spanish SL or limited companies. The promise is the same, an annual income from rentals and then the prospect of selling the “shares” at a later date.

We already know that no one has been paid any rental for last year, we also know that there is no money to pay out these rental dividends. What has been paid out has come from new “investors” purchasing into the scheme, a classic take from Peter to pay Paul, or it could be called a “Ponzi” scheme.

Bob Trotta and Kwang Boon Sim

As we have already seen from the previous articles, vast amounts of money have been moved around the numerous companies set up by Bob Trotta and Kwang Boon Sim in the guise of “intercompany loans”, tax evasion and then spirited away into the Trotta family fortune. All at the expense of you the consumer.

It is a very interesting fact that most of the local staff that worked in various companies around the world were not even aware of how the group was structured, or even how the finances operated. It is also a fact that had the bank and the family done the right thing by their loyal team of workers and their customers most would have been quite happy. Clients would have had good products and resorts with Doug Campbell, his wife Jennifer Campbell, Ragni Trotta and Erin Trotta Westfall could have enjoyed a wonderful future.

The Bank could most of likely been able to close the trust, distributing the wealth to the family… What they have not bargained for was the ineptitude and bully tactics of Alex Lawson. It appears that Alex Lawson is so eager to prove himself to his Alvarez colleagues that he is marauding around the world using aggressive tactics against everyone in his path.

Alex Lawson

He has a complete lack of compassion and with a blinkered outlook on how his decisions affect circumstances elsewhere in the group, he is creating a trail of destruction and is now coming into full view of claims companies and legal teams all over the world.

It is now very likely the end result of the whole program will be Alvarez and Marsal earn a fortune in fees, the Trotta family end up with nothing with the prospect of ending up in jail, the bank losing their license with the possibility of seeing its team members facing charges and the hundreds of consumers losing everything they have purchased.

Alvarez and Marsal Logo

This is by no means the end of our little story, this is only series one, we have already heard from several readers who have travelled to Tenerife to take their holidays at The ParamountClub Paradiso. They have told us of not being able to gain admittance to the resort, being moved to other locations and in some cases being charged to stay. On the subject of the staff, our readers have told us that they have seen them crying as they are unable to do anything to help and now know they are unlikely to get paid. The fall out of the “liquidation” plan being put into action by Alex Lawson is already taking its toll!

Have you purchased any product from Silverpoint, do you want to know where you stand legally?

Would you like to know if you have a legal case to take to court, have your contracts declared null and void and the return of your purchase price?

If you would like further information on these and any other questions, then use our contact page and let us know what when and where you purchased, Inside Timeshare will get back to you and point you in the right direction.