Our Latest Victories
M1 LEGAL SECURES THE BIGGEST FINANCIAL TIMESHARE VICTORY IN SPAIN!
Earlier this week, we published a press release regarding a fantastic Court Victory whereby our legal partners M1 legal secured €365,000 for our clients – you can read all about it here.
MORE SUCCESS AGAINST CLUB LA COSTA
Also there are two more settlements for British couples in the Spanish Courts. Only days after M1 Legal won an award of 365,000 Euros for a Southampton couple, they have secured two more victories.
Both cases are against Club La Costa although the contractual name used was Paradise Trading SLU. In both cases, Paradise Trading SLU stated they were not a contractual party and merely representing Club La Costa Resorts Development Limited as a Sales Agent.
The judge ruled that if they have the power to end a contract, and in charge of collecting money for the purchase price and to add pressure to the client for non-payment, then they are liable as a contractual party. Furthermore, both contracts are deemed null and void and did not comply with minimum legal requirements.
It was irrelevant that Paradise Trading SLU does not issue the membership certificate.
Mr & Mrs Kelly of Worcestershire were awarded £26,728.20 plus legal fees and another client was awarded £10,755 plus legal fees.
Club La Costa are aware that there are in excess of 100 cases in court and in addition, M1 legal is preparing a further 165 cases for submission.
SALINA WHARF PAYOUTS
It’s been a busy few months for securing more pay-outs for Salina Wharf. The Maltese Resort, which closed its doors in December 2016, left all owners without the occupancy rights stated on their contracts.
M1 Legal has processed many claims with various highstreet banks, which has resulted in compensation totalling more than £20,000 in the last two of months.
To find out more about your timeshare contract and any lending you may have associated with it, call one of our advisors today on 0203 6704 616
WAS YOUR LOAN REFERRED BY AN UNAUTHORISED BROKER?
Finance Lenders are coming under the spotlight recently for allowing brokers (usually sales representatives) to introduce loans to consumers whilst not having authorisation from the FCA. Our sister company M1 Legal recently attended a hearing at the Royal Courts of Justice involving Barclays Partner Finance, the Financial Conduct Authority and Mr James Sheehan, the barrister representing clients of M1 Legal who all purchased timeshares at Azure Resorts Ltd, financed by BPF.
BPF financed loans signed between 1st April 2014 and 24th April 2016 that were all referred by employees of Azure Services, which was an unauthorised entity at that time. The hearing at the RCJ was to decide whether or not consumer detriment should be taken into account when the FCA makes a decision on whether to issue a Validation Order to uphold the loans. The Judge determined that consumer detriment is a relevant factor to be considered under a broader basis by the FCA when making their decision. This gives fresh hope to all consumers who were misrepresented by their timeshare company and encouraged to take out finance.
To find out if your timeshare loan was referred by an unauthorised broker, contact ECC on 0203 6704 616
Azure Action Group Update
M1 Legal is continuing to grow its Action Group for Azure Island Residence Club, with numbers now nearing 80 claimants. Owners of Azure timeshares have complained about being victims of mis-selling.
Many owners were encouraged to take out finance with Barclays Partner Finance to subsidise the cost of the timeshare and were misrepresented not only on the purchase, but also on the terms of the loan. Many were promised re-sales within a fixed period of time, which when sold would not only generate enough money to pay off the loan in full but would leave a substantial profit.
Not one of our clients has ever managed to achieve the promised re-sale but instead have been left with a timeshare for which they are re-paying substantial loans as well as expensive maintenance fees with no hope of the elusive re-sale.
Types of Claims
Did you know there are different types of claims that you may be legible for? Recently we created two videos to help you understand along with their key requirements.
VIDEO 1: Understanding Spanish Timeshare Claims
In 2015, the Spanish Supreme Court made a landmark timeshare ruling backdated to 1999 and since 1999, many timeshare contracts have been deemed null and void.
Click the image below to watch the video or click here to see if you would be legible to claim
VIDEO 2: Understanding Misrepresentation
There are many types of misrepresentation, click the image below to watch the video or click here to get a clear understanding of misrepresentation and again see if you have a potential claim.
Visiting Costa del Sol?
As Autumn gets underway, we know that many of you will be travelling to Spain for holidays. If any of you are visiting Málaga, Costa del Sol, we would love to meet you! Please do call in to our office to say hello and meet our teams. We are easy to find in Mijas Costa/Fuengirola area and are located right on the main Costa road the N-340 directly opposite the Mijas Aqua Park and in the office block above Iceland supermarket. Should you have difficulty finding us or getting here, please call 0034 951 562 209.