Chamber number 3 of the Court of Appeal (Provincial Court) of Tenerife has confirmed the first of the judgments that declared the contracts void for not having a specific object in accordance with article 9.1.3 of Law 42/98 and for being for an unlimited time, in contravention of article 3 of the aforementioned Law. It also considered buyers as consumers. The not so beneficial part of the judgment reduces the amount to be received because it deducts from the total amount the amounts paid as maintenance fees. Still, clients will receive £ 67,623 plus interest for filing the lawsuit. This is a good precedent for all those Regency members who want to see their contracts terminated.
