The Nordic Consulting achieves 372 legal victories against Silverpoint!

The Nordic Consulting achieves 372 legal victories against Silverpoint!

This week the Nordic Consulting and its clients are celebrating an enormous victory against Silverpoint Vacations SL – the troubled timeshare and resort company based in Tenerife, Spain. The courts of Arona are approving the agreements reached between Silverpoint’s administrator and our clients in no less than 372 legal cases.

Founder and CEO of The Nordic Consulting, Ali Farhoud said “This is a great day! A day to celebrate all of the hard work of our staff and lawyers and the determination of our clients.”

Silverpoint is conceding to client demands that their contracts be declared null and void and is recognising both amounts due to be refunded as well as compensation in the company liquidation. In total our clients are settling their cases for €45,519,829

Importantly, clients of the Nordic Consulting move forward into the liquidation of Silverpoint in the strongest position – the Spanish courts will have already approved the proposed settlements of their claims. All clients of the Nordic Consulting have received a court submission document and will now receive a court document approving the agreement with the Administrator.

For example, Brendan and Jacqui Whelan agreed to receive 197.218€ in relation to their claim for an investment in Palm Beach Club. The judge of Arona Court of First Instance No.2 officially ratified this with a court “auto” to close the case on the 30th September 2020. 

Brendan says “We are over the moon! We finally have peace of mind that we are out of our contracts. We want to thank all the staff at The Nordic Consulting, especially Ali, Richard and Catherine.”

Ali Farhoud explains “We believe in not cutting corners. Other legal firms that tried to save money by not actually starting court proceedings have been running a big risk for their clients. There was the possibility that the Silverpoint administrator wouldn´t offer to recognise monies owed to their clients and there is still the possibility that the Mercantile Court will not recognise them as creditors or will subordinate their credits”.

We will upload all of the Arona court approvals to end our clients legal claims against Silverpoint as they are received on a dedicated section of our website here.

Again – Well done to our clients! We want to thank you for giving us the opportunity to earn your trust and we will continue to fight for you in the months and years to come.

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