Tens of millions of pounds in timeshare compensation awards are currently being processed in the courts of Spain – the average claim being around £20-£25k.
As a result of this and the huge influx of new claims being processed, Timeshare companies are now getting desperate and agreeing to take ownerships back (provided they fulfill a certain criteria). However, what you must be aware of, is that when you sign away your timeshare ownership rights you also waive your right to any claim against them.
You will see the following clause or words to that effect:
In recent months, we have been informed that in Europe, Club la Costa World, Diamond Resorts, Anfi Group and others are trying to skirt around legal obligations and mis-inform their members to encourage them to waive their rights to claim.
Here is a list of factors that could lead to a successful timeshare claim…
What you have to consider BEFORE making any decision is this: Are you prepared to throw away all the money you have invested so far?
In recent months, some resorts have found themselves in a terrible financial mess due to a high volume of judgements against them and have been forced to close their doors for good, the latest victim was Silverpoint, UPDATE: now Club la Costa have closed their Sales Operations and have filed for liquidation on those companies used for new contracts.
On a recent victory, a Spanish judge stated that “Club la Costa World are a conglomerate of companies where the intention is to avoid the legitimate rights of the clients through the instrumental mechanism of diluting their contractual obligations and the ownership of the affected properties, with the purpose of hiding and protecting the solvent company that could comply with the obligations acquired… Therefore, the fraudulent use of all these companies with the purpose of causing damages to third-parties (clients) lead to the doctrine of lifting the veil”.
IF YOU HAVE ANY QUESTIONS PLEASE DON’T HESITATE TO CONTACT US ON OUR FRIENDLY LIVE CHAT OR EMAIL US AT INFO@TIMESHARE.LAWYER