Speculations have begun regarding the possibility that Anfi Resorts SL are hiding their money / assets to delay paying back millions of euros in compensation ordered by the courts. Many consumers are able to claim compensation if illegal contracts were used.
Anfi was once one of the most successful timeshare resorts in Europe, selling timeshares to more than 30,000 families! Financial problems occurred in 2015 when they lost a court case against a Norwegian lady, who proved to the courts that her perpetual contract was illegal.
This court victory hit the media on 30 May 2015 with an article posted in The Telegraph by Kate Palmer. Anfi wasn’t the only company breaking the law, they were just the first timeshare resort to get caught.
More owners started to come forward, who had also been given illegal contracts, and it is speculated that compensation owed could be in excess of 5 million euros. However, this does not explain how they managed to fall into an unmanageable debt of 56.6 million euros!
Why do people suspect Anfi Resorts SL of hiding assets?
Anfi Resorts SL receive around 26 million euros per year from maintenance fees. Allegedly, Anfi members are now receiving their annual maintenance bill from other companies within the Anfi Group, such as Anfi Real Estates and Anfi Tauro.
These 2 companies are separate entities than Anfi Resorts SL, therefore, with no new sales during the global pandemic Anfi Resorts SL’s debts began to build up to a monstrous amount, forcing them into bankruptcy. With no money in their accounts, who will pay the compensation to their members? Meanwhile, Anfi members are still paying around 26 million euros into the Anfi Group.
Neither Anfi Real Estates or Anfi Tauro were listed in the civil proceedings.
Of course, this is all speculation at this time, but it is very transparent to their members, whom await compensation.
Mis-selling can range from verbal agreements that where never met, payments being made during the 14-day calling off period and illegal contracts being used.
If you believe that you may have been mis-sold a timeshare by Anfi Sales SL, speak to Legal Exits today.