Your honor, Dña. Etelvina López Jiménez, declared the contract signed between my client and Silverpoint null and void because there were no reference to its termination date and the object had not been described as article 9.1.3 of Law 42/98 requires. The client is considered a consumer and is granted the return of all the money paid for the signing of the contract as well as the amounts received on the same day of signing. Surprisingly is not awarded legal costs. This concrete legal aspect will be appealed in due course.
Read MoreWhat does the EU say about Timeshare?
Timeshare and other long-term holiday contracts in the EU (original source)
Buying a traditional timeshare - the right to spend more than one period of time in the course of more than one year in a given property or properties - can be quite a minefield. The same is true of joining a long-term holiday scheme, such as a discount holiday club, which gives the right to discounts on accommodation or related benefits, sometimes in combination with travel or other services, for more than one year.
Read MoreSilverpoint. Second Supreme Court ruling, nº 19/2017
STS no. 19 of 17-01-2017. Appeal no. 3064-2014, on Perpetuity, Trade Ins, Trans amount and maintenance quotas.
Sentence nº 19/2017 has been Supreme Court's second sentence and has very little to do with the previous one, number 16/17, since it doesn't deal with Club Paradiso or address to the issue of whether buyers are investors or consumers. This ruling examines a Hollywood Mirage Club contract and the main issues are: perpetuity, amounts brought from other contracts (Trade In), amounts brought from previous contracts (Trans amounts) and maintenance fees.
Read MoreSilverpoint and the recent Supreme Court rulings, nº 16/2017
STS no. 16 of 16-01-2017. Appeal no. 2718-2014, on Club Paradiso and investment schemes.
The first judgment of the Supreme Court has proved to be a real surprise for many, although expected by others (among which I include myself). There have been many proceedings before the Courts of First Instance and the Provincial Court of Santa Cruz de Tenerife (now onwards, Court of Appeal or just CoA) against the group of companies headed by
Read MoreBreaking news! The Supreme Court has declared a Club Paradiso contract null and void
Yes, the Supreme Court has declared that the Vacation Club known as Club Paradiso was not really a club of that kind and that was really timeshare, consequently and not complying with Law 42/98 had to declare the contract null and void. More news once I manage to read the full decision.
Here is the news (in Spanish):
More info in this web here
September and October, 7 new rulings from the Supreme Court
There have been a few rulings recently from the Supreme Court, seven after the summer break against in which Clubs, such as Anfi, Puerto Calma or Palm Oasis, have been condemned to return to their clients certain amounts they paid, declaring their contracts ...
Read MoreTwo judgments of the Supreme Court cancel Puerto Calma & Palm Oasis timeshare sales "in perpetuity".
Find a software translation version of this news:
"The Civil Chamber of the Supreme Court (TS) has issued two judgments in which overrides several Sealed tourism contracts in the south of Gran Canaria and framed in the timesharing - exploitation turns of real estate - for not respecting the maximum term of 50 years prescribed by law and sell in perpetuity.
Read MoreHoliday Clubs (Long term holiday product): voluntary withdrawal after the second payment.
For those that have signed a contract, after the 18th March 2012, for a Long Term Holiday Product, perhaps you should know that according to the Spanish Legislation (RDL 8/12 and Law 4/12) you, the consumer, may terminate the contract, after the second year, by giving notice of termination to the trader no later than 14 days after any day on which the consumer receives a request for payment of an installment and without incurring any penalty...
Read MoreThe Supreme Court also declared illegal the "floating system" used by Anfi
I have come across this newspaper article this Sunday morning
http://www.eldiario.es/canariasahora/tribunales/Supremo-condena-Anfi-timesharing-semanas_flotantes-turismo_0_505350565.html
I haven't been able to read the full judgement but as soon as I can do it I will broaden the news.
Tip 2. Advance Payments under the new Law 4/12
For those contracts signed after the 19/03/2012 in Spain and those who have not received the "withdrawal form" or "pre-contractual information," or even if signed before the withdrawal period a loan agreement, they should know that they have very interesting options and could claim the double all the money given ...