What is the future of the club?
Selected Club Paradiso Members have received a letter dated 12 July 2019 from the new sole director – Alexander Lawson. We attach a scan of the full text to this article.
What is the update
In short, the letter says:
- Alexander Lawson is now the sole director of Club Paradiso Limited.
- Club Paradiso has failed to pay for the accommodation and services due to its members
- Club Paradiso is not in liquidation but that there is significant disruption to the club´s services and that all future reservations for club members have been suspended until at least September 2019
- “Compensation is not currently available for members who have been affected by this disruption”
Who is Alexander Lawson?
As discussed in a previous article Alexander Lawson heads up a team at Alvarez and Marsal of the Cayman Islands, a large insolvency company known for asset stripping, which is the practice of taking over a company in financial difficulties and selling each of its assets separately.
Reports are circulating that the Trotta family and a related trust, the ultimate owners of Silverpoint, have brought in Alvarez and Marsal to extract as much wealth as possible for themselves from a large web of interconnected companies.
The plan is to take over directorships one-by-one and then declare the entities insolvent. It is claimed that the insolvencies are justified by writing off debt with other entities that appear to be unrelated, but in reality, are effectively controlled by the Trotta family. The purpose of deliberately inducing these insolvencies is to get out of the liabilities to consumers who have already handed over large amounts of money.
The trust and Trotta family would keep the cash and not deliver on the promises and products sold to the customers. Of course, Alex Lawson and his firm Alvarez and Marsal, the insolvency specialists, are extracting large fees all along the way.
You ARE entitled to a club membership refund!
Regardless of whether your membership is functioning well or not, do you know that you are entitled to a refund through the courts of Spain? There are several reasons for this, one being if you paid the whole membership fee at the beginning of your membership. The good news is that this is normally the case for Club Paradiso members!
In fact, the courts have typically been awarding claimants double the amounts paid if membership fees were illegally charged within 90 days of signing the contract.
We can look at your Club Paradiso membership paperwork and advise you on the best course of action.
Our lawyers are specialists in not only Club Paradiso, but various illegal and problematic products sold by Silverpoint and related companies.