Existing Group Action against Barclays Partner Finance builds a Head of Steam as 100's join

Yesterday the litigation specialist firm Edwin Coe LLP issued further proceedings in the Courts of London against Barclays Partner Finance (BPF) in relation to a claim brought against them and the defunct timeshare company known as Resort Properties (RP) based in the Canary Islands. This action is in furtherance to proceedings previously issued in August 2014 and is intended to add 100’s of new claimants to the existing action.

This coincided with an announcement by Olton Alexander Financial Claims Ltd that it is closing its current RP/BPF group action claim book and will not be accepting any new participants into the group action from the 30th of April 2016. Olton Alexander’s spokes person Robert James says that this is a significant step for the company and now allows the companies admin team to focus more fully on the file preparation and submissions to Messrs Edwin Coe LLP. It signifies the closure of perhaps the last group action of its type against RP and BPF because of the inevitable limitation issues that surround the time that these timeshare sales were made (circa 2007/8/9).

We are advised by Olton Alexander that this is the only class action of its type running and it is highly unlikely that a new group could be formed in time to make a valid claim because of limitation issues that some claimants/victims face.

The claim itself is a simple one, generally the victims were sold into a timeshare deal on the premise and absolute understanding that the purchase made was of a value (usually £25,000 +) that would not deteriorate and would increase significantly in value over 24 months. Such was the enthusiasm of RP they practically guaranteed their victims that they would sell the property after 2 years in order that the profit could be realised. Of course this did not happen and many victims were coerced into a further purchase in order to secure the loss incurred in the first purchase. Meanwhile during this period and in many cases BPF provided the funding that enabled RP to secure the sale based on deliberate misrepresentations. Section 75 of the consumer act and other legal obligations bind BPF to the timeshare sales made by RP and this makes it possible for victims to make a claim for recovery.

Any interested parties, claimants in this matter or other claims similar in nature should contact Olton Alexander Directly on 01273 915451 or email info@oltonalexander.co.uk.