There is little more we can say about the rulings against Silverpoint. Once again, a Court declares their contracts null and void with a return of the proportional part of the unused years. Silverpoint is in bankruptcy proceedings and I hope to be able to report on its progress in the next few days with an explanatory post.
Silverpoint 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