As previously reported, although Silverpoint is being liquidated in the mercantile court, there are still civil procedures against the company in the courts of Tenerife. The aim of these civil cases is to release our clients from their timeshare contracts, and/or as shareholders within a Spanish company that was constituted by Silverpoint itself.
After studying our Norwegian clients’ contract the Judge from the Mercantile Court No 1 in Santa Cruz de Tenerife has declared it null and void. Our client is not only free now of any obligations but has also been awarded 147.420€ which will be now claimed in the mercantile court. This figure constitutes not only of the purchase price but also of the sanction for the illegal deposit taken during the statutory cooling off period – which is strictly forbidden by the timeshare law. Canarian Legal Alliance continues to actively represent clients in the mercantile court to safeguard their rights for payments as confirmed creditors