Last Monday’s article about Anfi and LS Invest has prompted a few more enquiries than usual, not just about the Anfi liquidation, but also Silverpoint and the Club la Costa sales companies. All have the same thing in common, they were the result of Cold Calls.
During these cold calls, the timeshare owner or ex-owner is told how they can have a claim filed with the “Administrator” appointed by the court and have their claim placed on the list of creditors. They need to move fast, or they will miss out on getting their money back. Now these are timeshare owners who have not even brought any legal cases through the courts, so it is unlikely that they could now bring a new case, let alone be placed on the “preferential” creditors list beforehand.
For those who have already won cases and been awarded a return of their money, but have yet to be paid, surely their own lawyers would have done all this from day one.
Yet the answer given is that it is a separate case, or your lawyers obviously haven’t filed it all with the Mercantile Court. A very good answer to place doubt in your mind.
That is what the vast majority of timeshare “Cold Calls” are about, if you are already a client of a law firm, the intention is very clear, make you feel as though you made a bad choice, and then scare you into thinking you will never get your money back. For those without a pending claim, it plays on the hope of getting something back and a way out with an exit scheme added on for a bonus. To our many seniors who have contacted us, they admitted they were tempted.
Firstly, although you may have a valid claim under Spanish law to bring a case against Anfi, Silverpoint or Club la Costa, those companies are in liquidation. Remember it can take several years for a case to be heard, will the company actually be around by then and is there any likelihood of any money left to payout?
When it comes to filing with the administrator, it was categorically stated by Club la Costa, that those with claims awarded by the courts would not get preferential treatment. The administrator had his priority list which included payments to redundant staff etc, and all bills of the company which will include local businesses. Timeshare claims were not a priority.
As for Silverpoint and Anfi, we already know that both of those liquidations are complex, especially when it comes to Silverpoint and the inability to trace any of the funds so carefully whisked away by their “Financial Wizard”.
Anfi, as we have seen from the article is also a complex one, again it is funds that are the centre of attention. It has already been revealed that some “creative” accounting took place at Anfi over the years.
Both cases are ongoing, and no resolution is imminent, we don’t even expect one in the near future.
No matter what you are told by any cold caller, always take it with a pinch of salt, they can twist what is fact and manipulate it for their own purposes. These callers are marketing companies, that is who you sign up with, that is who the contract is with, and their purpose is to get as much out of you as possible. At first, it may be a relatively small amount, but once they have you, just watch all the “extra” legal fees and taxes that will miraculously appear. The scammers know that provided they can show you some evidence that “your case” is being dealt with using case numbers and the like, the chances are you are going to pay, just to keep the case going.
If you have received a cold call with a similar story, please use our contact page and let us know.
On Friday we bring you another offering from Irene and the problem many seniors are now facing, whether to default on their timeshare or not, as the editorial explains for many this is a very serious decision.
Baby Dog was doing his best “Jedi” mind tricks while I was trying to watch England play Australia, he won.
