Timeshare News – October 2017

Billion dollar lawsuit filed against Diamond Resorts International

There have been many judgements entered against companies for the sale of timeshare products. The majority of cases have, thus far, been issued within Spain. So far, the Supreme Court are said to have made 42 rulings in timeshare release matters.

It has cost the industry significantly. All this because, for years, companies have ignored the laws put into place in 1999 relating to timeshare products, which are there to protect the consumer. However, this now pales into insignificance with the latest lawsuit in America.

An online post shows that Diamond Resorts International are being sued for $1billion in a class action filed in Las Vegas.

According to online information, the lawsuit filed in Las Vegas Federal District Court by Albright Stoddard Warnick & Albright, may not only be for residents in the US, but it could possibly be open for Europeans who purchased in the US. This would assist in cases where any purchaser was aged 60 years or over when signing.

This could be outstanding news for many who thought that they would not see their funds again, or the return on investment that they may have been promised.

Court in Spain rules against Silverpoint

A Spanish court has ruled a Silverpoint contract void due to there not being enough critical information.

The Spanish Timeshare Law of 42/98 states, a contract is to include as much information as possible.

The Supreme Court ordered Silverpoint to refund over £63,853 including legal interest and legal fees. This now opens the doors for other clients to claim monies owed including deposits paid.

If you brought into a lifestyle, concierge service or purchased a points product from a resort please contact us now