Positive developments regarding claims against Club La Costa (CLC)
Club La Costa timeshare claimants recently received an update letter from the official CLC administrators. As readers may be aware, CLC filed for administration and that process is now being handled by world leading accountancy firm FRP.
FRP is the creditors’ choice and M1 Legal spent over £100,000 to support have them appointed, replacing the previous firm BDO.
The claims of hundreds of compensation claimants, have since been officially acknowledged by FRP as creditors in the CLC administration. This is a major milestone for the compensation journey.
Claimants received another boost recently when FRP was granted an extra 12 months to drill down into CLC’s complex finances
The other great news for CLC timeshare claimants is that this administration takes place in the UK, thus avoiding the labyrinthine and ponderous Spanish legal system.
M1 legal is co-ordinating to represent claimants best interests with FRP. This involves expending substantial resources, both financial and in terms of work by the M1 lawyers. Even though FRP is managing the administration, the lawyers of M1 Legal are still working at full capacity supporting FRP by providing information concerning CLC assets, as well as maintaining additional actions in the Spanish courts.
We are confident that FRP are perfectly positioned to secure funds for the creditors M1 Legal represent. Their relationship with FRP is excellent and all of the meetings with them have been reported positive and productive.
If you are a Club La Costa owner and have not received an official notification from the administrators or are not sure whether you are eligible to be part of the administration proceedings, feel free to get in touch with our team at European Consumer Claims (ECC) for a free, confidential and informative talk.
Many other European timeshare companies are currently failing as seen in the Mail On Sunday 2nd January 2022. If you are a member of a struggling resort and unsure how to protect your interests, you are also welcome to get in touch with us