On 15 January 2020, Silverpoint presented a declaration of insolvency & provisional liquidation. Silverpoint sold timeshare and club memberships at Palm Beach Club, Beverly Hills club, Beverly Hills Heights, Hollywood Mirage and Club Paradiso in Tenerife.
Many Timeshare owners at these properties will know this company by the name of Resort Properties. Timeshare owners at these resorts may have enjoyed their holidays. However, the majority fell foul of the company’s high profile investment scams.
These scams involved the purchase of multiple weeks of timeshare units, with the promise and often guarantee, that they would be resold to make a profit. Clients also spent thousands of pounds on investing in Club Paradiso memberships on the understanding that these would also be resold to make vast sums of money.
High-pressure sales tactics and gruelling 8-hour presentations wore down clients, leading to flawed decision making. Many clients ended up chasing money by investing more year after year, being told by the salespeople that the previous purchase wasn’t performing or that it needed upgrading to enable it to sell. This tactic was also introduced at the sister company, Azure in Malta.
If you funded your purchase at silverpoint using Barclays Partner Finance, then you may qualify for a claim. The 1974 consumer credit act covers your finance agreement. As such, there several ways in which the finance company can be held responsible and liable for your purchase.
Any payments made by credit card also means that you may be to claim your money back. The claims process isn’t straight forward, using our expertise will increase your chances of success.