Since the Spanish Supreme Court ruled in 2015 that timeshare contracts were illegal if they lasted longer than 50 years or were for floating weeks products, hundreds of thousands of contracts have been deemed null and void.
TAnfi is one company to have been ruled against by the courts. Despite a Deed of Adaptation granted to Anfi in 2000, timeshare owners have been taking the company to court and winning compensation. Now, Anfi has called a Special General Meeting for all of its timeshare owners to attend. But is the company being proactive or is it running scared?
The answer is both. Clearly, Anfi has a problem. It needs to minimise the number of court cases being brought against it in order to avoid further losses and negative publicity. Hence the June 2017 general meeting in Gran Canaria. The purpose of the meeting is to discuss and rectify contract terms, with three specific resolutions proposed:
- 1.To have fixed terms of occupancy no more than 50 years
- 2.The Timeshare Scheme itself is limited to maximum of 50 years ending in 2048.
- 3.Amend the Timeshare Scheme entirely to be compliant with the Spanish Act in 1999 .
The proposed resolutions will bring all Anfi contracts into line with Law 42/98, which applies to all timeshare contracts signed after 5 January 1999. While the move is certainly proactive on Anfi’s part, in terms of trying to rectify its contracts and engage owners, it’s hard to see what’s in it for those owners who are seeking to extricate themselves from contracts that may well be deemed null and void in light of the Spanish Supreme Court’s recent rulings.
“Anfi’s current potential losses as a result of contracts being deemed illegal could run into millions of euros. It’s clear to see why the company is keen to take action, but it would be surprising if these resolutions were not met with some substantial resistance from disgruntled owners at the June meeting.”
Belinda Rollins, Legal Support Manager,Timeshare.lawyer.
For those attending the Anfi meeting,Timeshare Compensation is offering a detailed advice service that supports consumers to understand whether or not they may be entitled to compensation based on their timeshare contract. The company has already been contacted by over 6,000 individuals so far this year, with many of those going on to pursue legal action in order to claim compensation.
The message to Anfi owners is clear – just because Anfi is running scared, doesn’t mean that owners need to do the same. Taking the time to understand their rights and legal position prior to the meeting will arm Anfi owners with the knowledge they need in order to stand up to injustice within the timeshare industry.
For more information, please visit www.TimeshareCompensation.co.uk, call 0800 046 5855 or email Info@TimeshareCompensation.co.uk.