M1 Legal continues to break timeshare compensation records
M1 Legal celebrate as multiple award records broken and positive news received about the Club La Costa PLC UK administration/liquidation.
M1 Legal lawyers are breaking their own compensation award records, and by huge margins.
The Spanish firm of timeshare lawyers has just reported the most successful single week in it’s 6 year history with 76 victories, and a breathtaking total of nearly £2,900,000 awarded to their clients. This represents a staggering increase of almost 700% over the previous record set in April 2021
The month of November saw M1 win awards for their clients totalling almost £3,500,000. This sets another record, beating the previous highest month by a massive 395%.
Finally, M1 Legal’s record for most award victories won in one quarter has already been broken by another significant percentage with 3 whole weeks left to go.
At the time of writing (5th December 2022) M1 Legal has secured an astonishing 41 victories and more than £4 million awarded. This is well over double the previous best quarter’s results which were January to March 2022.
Extrapolating from the quarter so far this would put the figure at over £5 million by the end of this quarter (December 31st).
There were plenty of life-changing individual awards amongst these victories, including one jubilant couple from Tyneside who were awarded over £100,000 compensation in a court win against Silverpoint.
“These records are not being broken by small increases,” says Fernando Sansegundo, head of M1 legal. “This isn’t like the Olympics where the protagonists are so close to their ultimate potential that every miniscule improvement is celebrated.
“Right now our compensation award total for 2022 is standing at 416 victories and just under £8,700,000. That is 416 people who are now free from the burden of their annual timeshare fees as well as being awarded all of this compensation.
“We have most of December still to go. I would be very surprised if we did not top the £9 million mark by the end of the year. This would be a 50% increase on 2021.
“The kind of advances M1 lawyers are regularly making here — 30%, 50% and even several hundred % — are a clear indication that there is enormous, untapped potential for appreciable further increases in successful claims against rogue timeshare operators.”
Club La Costa (UK) PLC administration becomes liquidation
The administration process, which was being managed by leading accountancy firm FRP Advisory, has now transitioned to liquidation from the 20th November 2022. To be precise: it is now a Creditors’ Voluntary Liquidation (CVL) and still being managed by FRP..
This makes no immediate difference to creditors and a corresponding report has been filed with UK Companies House.
“Our legal experts unanimously agree that liquidation will be a more productive way to pursue the assets of Club La Costa (UK) PLC,” says Sansegundo. “In many ways the liquidation is a more appropriate vehicle for obtaining the company’s assets than the administration was. In an administration the goal — at least in part — is to try and save the company in question. In a liquidation the focus shifts completely towards realising assets in order to pay the creditors.
“The continuing general upswing in M1’s court successes against the timeshare companies, and these recent, specific victories all indicate that the courts are taking the timeshare companies’ wrongdoings seriously.
“Our projections at this stage for 2023 are for all of these records to be broken again, and several times each.
“If you have a timeshare membership that you are unhappy about owning, talk to us. 2023 could be your year too.”
To find out if M1 legal can help you, get in touch with our associated claims firm European Consumer Claims for a free, confidential consultation.
- Understanding the process of a Creditors’ Voluntary Liquidation (CVL)
- FRP Advisory
- ECC contact page
- European Consumer Claims
- M1 Legal secures life changing £133,600 timeshare compensation victory for North London couple
- M1 Legal
- 2022: Shaping up to be M1 Legal’s most successful year ever
- M1 Lawyer Sofia Solano Diaz explains what happens when a Club La Costa claim is submitted to the UK administration/liquidation
- M1 Legal court victories
- Club La Costa UK PLC administration transitions into liquidation process
- M1 Legal shatters record for most money awarded in a week, only 2 months after record was set
- Landmark victory for M1 Legal heralds yet another half million pound month of awards
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First published on MyNewsDesk December 2022