Stephen Boyd

Earlier this year we published an article regarding the liquidation of RSB Legal, an unregulated timeshare termination and claims company. Our earlier article can be read via the link below: https://www.athlaw.co.uk/rsb-legal-timeshare-scammers/ RSB Legal is typical of the companies operating in this area. Run by ex-timeshare salesmen, set up a website, procure business by cold calling vulnerable consumers and then “disappear”. RSB went into liquidation on 23rd May 2018. In our previous article we observed that RSB has little by way of assets and there were significant consumer creditors, claiming in excess of £900,000, presumably for services not provided. In his report to creditors dated 11th July 2019 the Liquidator commented: “the majority of these claims relate to consumer creditors. It is clear that the director had not maintained records sufficient to accurately disclose creditors.” The Liquidator has now filed an updated report to Creditors dated 25th June 2021. The report makes interesting reading. The following is noteworthy: The Liquidator has with the assistance of solicitors taken action against former directors for misappropriation of funds. In other words, money paid to RSB for services was taken by the Directors. £240,000 has been recovered to date, and action has been ongoing. The Liquidator has been liaising with government agencies to ensure funds are not dissipated. A settlement was reached out of court to avoid further delay and costs Investigations are on-going to potentially recover further funds for the benefit of creditors, including transactions involving a “shadow director” and RSB’s “advisors” who have yet to be identified. The Company’s original statement of affairs disclosed only 8 creditors owed £25,406. As of June 2021, he confirms that he has received claims totaling £1,007,389 from 95 creditors. It is anticipated that following completion of investigations some payment will be made to creditors. The numbers involved here are staggering. Clearly substantial sums were taken from consumers, and services not provided. It is presumed that the 95 creditors referenced are all consumers. On average each will have paid on average £10,000 for legal services that were not provided. The Liquidation of RSB is a sad example of how these companies operate. There are many more and illustrates the dangers of dealing with unregulated businesses and relying on promises made by cold callers. Fortunately, in this case it looks like funds will recovered, and the Liquidator is to be commended on his efforts. For scammers it may also act as a warning that they could face consequences should t hey operate their businesses in a deceptive manner. They cannot assume the can simply close their company and hold on to the proceeds. It will also be interesting to know who the “advisors” are that operated in the background. This firm has acted for clients who have lost significant money dealing with companies such as RSB Legal. Other examples include Eze Group and Monster Travel. We have successfully recovered millions of pounds for clients having successfully pursued claims on their behalf to recover monies due and owing via Section 75. If a client has a viable claim, we undertake the work on a no win no fee basis. We will also provide free initial advice if you are seeking to terminate any timeshare. In the case of RSB Legal, is. If you did not use a credit card you should contact the Liquidator urgently and submit your claim.

RSB Legal Timeshare Scammers an Update

3 minutes of reading

RSB Legal is typical of the companies operating in this area. Run by ex-timeshare salesmen, set up a website, procure business by cold calling vulnerable consumers and then “disappear”.

Timeshare Scams Post Pandemic

Timeshare Scams Post Pandemic

4 minutes of reading

As we emerge from a global pandemic, into the realm of the ‘new normal’, we must remain vigilant to the scam tactics that remain operative within the industry.

Timeshare Scam

Club Class Scammers Behind Bars

4 minutes of reading

A Stockport couple who conned £580k from vulnerable and elderly people in a solicitor timeshare scam has been jailed.

Silverpoint Compensation Claims

Silverpoint Timeshare Compensation Claims

6 minutes of reading

For several years this firm has represented clients seeking to terminate timeshares sold to them by the prolific timeshare developer, Silverpoint.

Be vigilant for timeshare cold callers.

Are you looking to exit your timeshare agreement? Be vigilant for cold callers.

6 minutes of reading

When it comes to leaving your timeshare contract, it is crucial you are aware of the association of cold callers with fraudsters. On too many occasions, innocent people have been conned out of thousands by these malicious fraudsters posing as salespeople from timeshare exit and compensation companies.

Cold Callers - A Return To Pre Pandemic Numbers

Cold Callers – A Return To Pre Pandemic Numbers

4 minutes of reading

Further to our previous article discussing cold callers, we sadly note that new data released alongside findings from National Trading Standards show that the proportion of scam and nuisance calls have returned to levels seen before the first lockdown.

Club La Costa in Administration and Claims in Spain

Club La Costa in Administration and Claims in Spain

8 minutes of reading

There has been a great deal of publicity in recent months regarding Club La Costa going into Administration, most of the publicity being generated by ex-timeshare salesmen now posing as claims management companies, cold calling current and former members of Club La Costa Holiday Clubs.

Covid 19 – time for a Timeshare exit?

Covid 19 – time for a Timeshare exit?

3 minutes of reading

Have you long been considering an exit from your timeshare / holiday product due to concerns about rising maintenance fees and a contract in legal perpetuity? Do you consider the product to have been mis sold, and (pre pandemic), availability and standards of accommodation not as expected?

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