During March 2021, it was announced that Hilton Grand Vacation Club paid around $1.4 billion after they purchased Diamond Resorts. And even though this news came out during the beginning of the year, the deal was finalised this August 2021 and many had predicted about the situation of the Diamond members and what would happen to them.
The Diamond team have definitely been under the spotlight as far as legal circles in Europe are considered, especially in Spain. And due to their popularity, a lot of discussions made rounds regarding the fate of the clients they represent. For law firms who try to make sure the rights of their clients are respected throughout, it was fully justified to think about what consequences the news would bring for their clients since it was a case which explored legal possibilities.
And after a month since the acquisition was finalized, a brilliant and fantastic news was received for the English clients who relied on a Spanish law firm to litigate on their behalf against Diamond Resorts Europe Ltd. The team of lawyers received the notification from the Court of First Instance No 1 of Fuengirola regarding the funds that were received into the account of the court which was supposed to be paid to the client after they won the battle against Diamond.
In December 2020, the court gave the judgement in favour of the English clients where they declared the contract to be void and it was in sync with the decision of the Supreme Court.
The highest court in Spain was very much clear and firm regarding the fact that the floating weeks and points are not legal and the objective in the contract was not quite clear. The lawyers commenced the ruling as soon as they could, which later led to an embargo on the bank accounts ordered by the court for Diamond Resorts Europe Ltd.
Congratulations are in order for the client as they will now receive around 17.000€ excluding legal fees and interest. And after the acquisition of Diamond Resorts by Hilton Grand Vacations, it is predicted that the future payouts will be even quicker.
