Many of our customers received a letter recently from Excel Hotels & Resorts S.A. regarding the rental contracts between each customers company and the company Silverpoint Vacations SL. In this letter problems are brought to attention regarding interest payments for 2018 and that the conversion of certificates to a title for each unit will be delayed. Its proposed that Excel Hotels & Resorts SA shall enter as new partner in a rental contract and that a new rental contract will be presented on the next share holders meeting. Further more its explained that the interest for 2019 shall be distributed during 2020. Regarding the interest for 2018 they refer to article 6 in the rental contract and state that they will not be able to follow whats mentioned therein, that is the 4,5 % interest that will not be paid out during 2018.
- What does this mean for you?
- What actions shoud you as a company owner and part of the contract take?
- Do I risk anything by entering a new contract with the new partner Excel Hotels & Resorts SA?
Contact us at LR Lawyers for a free consultation and talk about your situation.
Call: 0034 601 01 97 97