It has just been announced the Supreme Court has made a significant ruling against Puerto Calma, Holiday Club Finland.
Clients of the law firm Canarian Legal Alliance have been awarded a staggering £235,542 plus interest and legal fees. The contract was also declared null and void.
According to CLA, their clients knew they were purchasing a timeshare, but Puerto Calma tried to disguise this by stating they were buying a share of the property. This is commonly known as Fractional ownership, which apparently comes under timeshare law not real estate. The contract was signed before a notary in order to improve credibility, but the Supreme Court has stated that this is timeshare and therefore comes under the timeshare laws as laid out in Spain.
This will have a significant impact on other timeshare companies who sell Fractional ownership. In fact the First National Trust Company, who are the trustees for the Club la Costa Fractional Property Owners Club, did state in 2012 that Fractional should not be sold as an investment, which would suggest that even they believe it comes under timeshare laws. This ruling would seem to verify that position. (see following links)
http://insidetimeshare.com/fractional-what-is-it/
http://clcmembers.blogspot.com.es/
It was also announces on 19 September, that CLA had a victory at the High Court No3 in Tenerife against Silverpoint / Resort Properties. Their client this time was awarded £16,722 plus legal interest with the contract being declared null and void.
In this case the court followed the rulings of earlier Supreme Court decisions that contracts in perpetuity are illegal. Again this show the significance of the influence the Supreme Court is having on the lower courts.
So it would seem that Canarian Legal Alliance is going from strength to strength, achieving victories on an almost daily basis. The tenacity of the lawyers is certainly paying off, So congratulations the legal team and their respective clients.
If you require any information regarding this or any timeshare matter, please contact Inside Timeshare and we will point you in the right direction.
CLA Supreme court success against Puerto Calma ( Holiday Club )
The post Latest News: Massive Victory for CLA Clients. appeared first on Inside Timeshare.