Supreme Court Rulings 2015: Update
Last year there were two Supreme Court rulings made against Anfi in which two perpetuity contracts were declared null and void on the basis that the membership was for a duration of more than 50 years. RDO concurred with Anfi's conclusion at the time that there had been a misinterpretation of the law in Spain as it applies to timeshare schemes in existence before Spain implemented the provisions of the first Timeshare Directive in 1998. Clarification was sought by Anfi earlier this year from the Property Register and Notary Head Office, which was responsible for authorising the registration of the pre-existing schemes...
Spanish Supreme Court Ruling 15 January 2015
We are aware of the ruling of the Supreme Court in Spain regarding the case of Anfi Sales SL v Grimsbo. We have been in and continue to be in close touch with Anfi management and their legal advisers to ascertain the up to date position. We understand from intensive discussions with Anfi’s legal advisers, and concur with their conclusion, that there has been a misinterpretation of the law in Spain as it applies to timeshare schemes in existence before Spain implemented the provisions of the First Timeshare Directive in 1998. We therefore believe, as does Anfi, that this case has limited...
