Silverpoint Loses Perpetuity Case
We at the TCA have been following many cases in the last few months in relation to clients that purchased their timeshare unit in perpetuity. The majority that we have been hearing about are contracts that have been purchased in perpetuity, with a term of longer than 50 years and signed after 1999. These contract types have been deemed illegal by the Spanish High Court in Madrid, any contract purchased under these conditions are null and void.
Anfi Sales SL has been the most affected by these cases until now, however, there are more resorts that also failed to comply to the correct regulations, these are now starting to raise their head. One such case was heard at the beginning of this month in Arona, Tenerife, where Silverpoint was under scrutiny for a contract purchased in perpetuity. This came as a slight surprise, as we have only just reported about how Silverpoint seemed to be escaping the courts with a great succession of wins.
Silverpoint are one of the big game players in Tenerife, Canary Islands and this comes as a bit of bad news for them. If what has happened with Anfi is anything to go by, there could be a lot more cases for Silverpoint ahead. In this particular case, there was a pay-out enforced to Silverpoint for the sum of £30,700 plus all legal fees and interests. The client can only be described as a happy winner, and now non-owner.
This is quite a small sum for Silverpoint to pay-out in comparison to one of its neighbours last month in Mogan, Gran Canaria. The Holiday Club Puerto Calma were made to pay-out a whopping £235,542 plus legal fees. We would like it bring it to your attention once again, that there are a lot of contracts that have recently become null and void. This could be you! How do you know if you stand a chance of relieving yourself of your timeshare contract?
The Timeshare Consumers Association September 29, 2016