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Now that the UK has made the choice to leave the EU, how could this affect you as a Timeshare owner? Following The Lisbon Treaty, there is now a 2-year window to work out an exit and negotiation strategy that will decide how Britain will implement EU Directives into British law, and maintain trade and free passage agreements before the exit is finalised. During this period, current legislation remains the same.
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News broke yesterday of how Shawbrook have admitted to handing out millions of pounds on loans that have not been adequately assessed for risk. Shawbrook are a big player in the Timeshare industry and provide finance for consumers at many big timeshare Resorts, as well as commercial mortgages, small business lending, asset finance and saving products.
The latest in the mergers and acquisitions world is news about the buyout of Las Vegas based Diamond Resorts International by private equity firm Apollo Global Management LLC. Apollo paid around $2.2 billion, paying £30.25 per share, which is a 26% premium over Diamond’s closing share price on Tuesday.
We are pleased to report that we have just assisted one of our clients to secure a settlement in relation to their timeshare purchase with H10 Premium Vacations.
Following our legal assistance with pressure placed on both the finance supplier and the resort, H10 Premium Vacations agreed to the cancellation of our client’s contract, the cancellation of his finance liabilities and full refund of all monies paid. The total value of this settlement amounts to $14,475.
Our client was misrepresented by the sales representative at Ocean Blue and Sand Beach Resort in the Dominican Republic. He was charged a deposit on the day, without the offer of a cooling off period and was told many untruths, which induced him to sign a contract.
Our client is now free of his timeshare contract and any liabilities and is happy to have had his money returned.
After nearly two weeks of legal representations in London’s High Courts, the RCI Action Group hearing drew to a close on Monday 23 May 2016 and the Judge has now entered a period of deliberation, prior to handing down judgment.
After many years of supporting the RCI Action Group, we here at ITRA are waiting with excitement for what is sure to be a big showdown at the High Court in London this week.
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British holidaymakers have brought the first High Court case against a timeshare exchange company, alleging they were victims of an operation that kept them in the dark and rented out their properties for the company’s profit and as staff incentives.
Four people are seeking compensation from RCI Europe, which operates a worldwide timeshare exchange club. Afurther 483 timeshare owners are part of the legal case and the more than 9,000 members of a UK timeshare action group will be affected by the judgment.
Nearly 500 British holiday timeshare owners go to court today in an attempt to recover millions of pounds in alleged damages after claiming that the scheme was a scam.
A High Court judge in London will hear 487 members of a worldwide timeshare exchange club allege that the bosses of RCI Europe “skimmed off” the best properties by selling them, despite having said that they would make them available for exchange.
Nearly 500 Britons who own holiday homes are going to court today to try to recover millions of pounds in alleged damages in a dispute over the operation of a European timeshare scheme.
A High Court judge in London will hear members of a worldwide timeshare exchange club allege that the bosses of the operator RCI Europe “skimmed off” the best properties by selling them, despite having said that they would make them available for exchange.
According to the claim – which could ultimately affect up to 9,000 British clients of RCI – the timeshare participants were rarely, if ever, able to exchange their right to use one property for an alternative holiday home of the same value in a different location. The membership scheme involved properties around the world.