The big news in Costa del Sol is now about the Club La Costa liquidation as 700 + employees are at risk of being laid off work.
According to publisher, SUR, Club La Costa have now announced that it has been placed into liquidation.
Juan Carlos Robles, the bankruptcy administrator has informed SUR that the Club La Costa World liquidations as effected eight companies based across the UK and Spain.
It has been stressed that the liquidation does not yet affect the timeshare properties and that owners are still the legal owners of their weeks and responsible to cover the cost of maintaining the properties. However, the majority of the resorts are likely to remained closed for some time.
The liquidation of the assets will mean that some of the apartments will need to be sold off. They will continue to maintain the resorts at the cost of their members as this would help the sale of the properties.
The bankruptcy administrator has said that both the COVID-19 virus and Brexit have affected the business equally.
Have you been affected by the Club La Costa liquidation?
Some owners may be eligible to claim compensation if it can be proved that the timeshares had been mis-sold, however this does not affect all timeshare owners. Use our free online compensation calculator and a member of our team will contact you with further information.
Some of the information in this post has been cited by www.surinenglish.com. The full article can be found on this link Club La Costa goes into liquidation – Covid crisis and Brexit blamed . surinenglish.com