Regency Palace hotel to close?

A quick and short blog, as close sources report (and the Diario today confirms), that the the Regency Palace could well close within the next fifteen days according to an application made in in the Judicial Court of Funchal. The hotel has been labouring under serious financial problems for a number of years (including €16 million of social security debts – see previous blog). The final move, apparently out of the blue, seems to have been made by the two main creditor banks, Novo Bank (formerly BES), which is owed €23 million, and Millennium BCP (€16 million), jointly taking action against the the two companies involved in managing the Regency Palace “Hotelmar” and ‘Cunha Santos & Camachos SA’. It must be emphasised that whilst there are also similarly named establishments, specifically the “Regency Club” and the “Regency Cliff” hotels nearby, these operations are completely independent, with the three hotels ceasing any connections many years ago.

mrp3Commentators seem to be undecided whether this will result in a restructuring of the debt and renegotiation of employee contracts, or the complete closure of the facility. Apparently the unit, which employs 110 staff, is running at 80% capacity at the moment. The Regional Secretariat for Economy and Tourism has been closely involved in talks today in an attempt to find a solution.

463 thoughts on “Regency Palace hotel to close?”

  1. Golden Gate and Regency Club as I understand it, belong to the Camacha part of the equation. There is a huge timeshare operation there so those people may lose everything also. Very sad, used to be a fab hotel but never been refurbished since it opened.

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    • yes, 10 years ago or so, it was wonderful, lovely furnishings, great location, great pools, all good. very sad.

      awful for the people employed there, I understand that there is not much work available in Madeira.

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  2. Too many hotels were built in quick sucession beyond Reids. Ineviatbly some of them were going to fail.

    The question begs, why was so much development allowed in that area? I suspect a large number of back-handers had something to do with it.

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  3. This is one of the best hotels in Madeira and MUST not be allowed to clise. How can it be even contemplated with an 80% occupancy rate right through to October 2015,It would be madness and would cause enormous damage to the reputation of the tourist trade in Madeira.The board, banks and the Secretariat for economy and tourism MUST keep it open. There are many time shareowners who regularly support this great hotel. We hare a party of 9 due to fly out on 18 May and am extremely worried. It will be a disaster for the island if it closes

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  4. How can you possibly keep a hotel open with debts of well over 60 million euros. The whole place is badly in need of a refurb. It used to be one of the best but not any more. The Golden Gate is owned by the same people and is an iconic café in Funchal but bad management and crippling dedts cannot be ignored. Very sad for the staff but this level of debt cannot continue.

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    • I cannot believe that the tourist board the banks will allow this to happen Who in their right mind closes a hotel at the start of the peak season with 80% occupancy right through until October. 80% occupancy is on average 500 guests per week There are many other hotels in Madeira that are in a similar position and have not had the banks taking such drastic action. This MUST NOT be allowed to happen. Over the season it will affect thousands who may never return to Madeira.Surely a restructuring programme with the banks supported by the the Regional Secretariat for Economy and Tourism can put in measure to allow it to continue at the same time as they are in discussion to save this great hotel.

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  5. 80%occupation is Ok but where is the money going, why would the banks allow business to continue if they do not meet their commitments. It has nothing to do with the tourist board. If a Company does not pay suppliers, banks etc the foreclosure takes place, same in UK do not understand why you expect different in Madeira.

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  6. We own a timeshare at the Regency Palace and we are due to travel in July 2015. Our flights were booked until by chance one of MRP ex staff contacted us to say the Regency Palace was closing 30th June.

    We have since been informed by the hotel that they are not taking bookings beyond the 30th June 2015. They suggest that the hotel management team are still in talks with the banks however for those set to travel in early July you may want to check with the hotel before you travel.

    Re the future..I love the place and the people in it.. However given the adverse publicity and poor management of communication around the hotels future then I fear the damage to tourism is already done. When hundreds of people lose money on timeshare sold to help to boost the local economy then surely Madeira cannot expect the same people to return year after year to spend additional money on holidays to continue to boost their economy particularly when Europe is in recession and fewer than ever people are travelling. No brainer for me……should not have been allowed to go this long without communication to those affected

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    • Gosh…..that’s awful. Hope you are able to cancel/rearrange flights. Suppose the most charitable explanation is that they were hoping until the last minute to stave off closure. What happens re your timeshare?

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  7. Just received an email today from Regency Palace stating there was a strong possibility that the Hotel would close on 30th June and that 110 staff may lose their jobs. I feel very sorry for the staff and hope the hotel can reach an agreement with the bank. Something must be very wrong if the Hotel has 80% occupancy with 500 guests per week spending on F & B. I assume I will lose the rest of my timeshare weeks, but actually I am more sad for Madeira, who has had it’s share of bad luck with the floods etc. recently

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  8. Very sorry to hear this, we bought 8 flexi weeks in 2013 and have 5 weeks left, so we are about £4000 down if the Regency Palace closes and cannot use them there or elsewhere. Huge sympathy for the staff who will lose their jobs, and are usually the last to know. Terrible financial mismanagement, both by the banks who lent too much money, and the hotel group who borrowed too much. Not unusual considering the mad lending and borrowing climate which existed in Europe and the UK between 1997 and 2008.

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    • Hi Simon,
      We have obviously lost our week booked for October and also our 2 remaining flexi weeks that we hold.

      Fortunately, we had lodged a further 4 weeks with Dial an Exchange a while back. They have said that as this was before the closure notice was issued and they had probably already sold them they will honour the exchanges so we have 4 credits with them.

      No help for you guys not with D & E or just signed up I’m afraid.

      I and others will be interested in the possibility of recovering lost monies from the bank / credit cards. Copy following link into your browser for Trip advsor topic:-

      http://www.tripadvisor.co.uk/ShowTopic-g189167-i435-k8499183-o20-Regency_Palace-Funchal_Madeira_Madeira_Islands.html

      Keep the info flowing guys.

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  9. I am currently on holiday at the Madeira Regency Palace and the staff are absolutely fantastic in carrying on in the professional friendy they have always been to ensure the gursts have a great holiday. This is despite the threat of them all loosing their jobs at the end of June.
    I have seema letter written by some members to the one bank that are trying to close down the MRP and they are not even the largest creditor. The other two creditors have withdrawn their objections so members that re currently enjoying their holiday are trying to do their bit to keep opem MRP

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  10. Hi Dave
    We have not used Dial and Exchange, although our flexi week vouchers can be used with them in theory. I imagine they are paid by the Regency Palace if we went elsewhere, although obviously like us they would get little or nothing from the Regency P at the moment. Dial and Exchange are very close to where we live, near Skipton in Yorkshire, may have a word with them to see what they know. Suzie the woman who sold us the flexi weeks was trying to sell us some more when we went last October, although she must have had some idea the hotel was in financial difficulty. I normally will not touch stuff like timeshare with a barge pole, although we all thought the Regency was good and reliable. Should have seen the financials of the business before committing our money 2 years ago, because we will not get any money back from the bank, and this sort of transaction is not ABTA bonded. The best we can hope for is that the new owners (maybe the bank creditors) wish to run it as a going concern, and will honour existing agreements. They would probably recover more money by selling the building as separate apartments rather than trying to continue as a hotel when there is already over capacity on Madeira. Ironic that Dominic Littlewood on BBC TV today was trying to help someone who was trying to sell an unwanted timeshare on Madeira at the Royal Savoy, they got scammed for more money by a bogus 3rd party seller in the UK. AirBNB alone advertise 1 million rooms of all descriptions world wide, we are using them to find accomodation on the Greek islands in the next 3 weeks. A shame because we like Madeira, and I hope the tourist board on the island will do their best to keep the Regency Palace going for the sake of the staff, customers, and image of the island.

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  11. See my post on trip advisor blog about Banco Espirito Santo going bust last August, having to be rescued, and new Novo bank chasing existing debtors (and/or instructed to by European Central Bank) ie Regency Palace.

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  12. Hi Alan, I imagine all the Portuguese banks have been told to get a stronger capital base, reduce their loan book, and chase debtors. In doing so they can destroy viable businesses, which is what the UK banks did after 2008. It does seem that the debts of Regency Palace are massive nonetheless and would do credit to some Premier League football clubs.

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    • If the two other creditors can allow mrp tpo continue trading then i se no reason why the Millenium bank cannot also alow it to trade. It has 80% occupancy with some weeks Lmost 100% and is a viable concern on a day to day basis We return home tomorrow and do hope we can come back next year to this fabulous hotel

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  13. Listen everyone the only way to support your favourite hotel is to spend your money there. Either that or risk losing your holidays. SPEND SPEND SPEND.

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  14. A lot of the debts in other groups of hotels that have been allowd to continue are considerably more than those at MRP and the questions begs why are the millnium bank taking this hard line stance when four other hotel groups with much larger debts have been allowed to continue

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    • I would appreciate to be kept in touch if there are any developments re the Palacio. I stayed there often, the last time the last month before it closed. it was such a tragedy,. absolutely loved it there.
      stayed the Regency Palace too, it is lovely there and would be awful if it has to close, as understand the employment situation on the island is dire.

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  15. Gutted at the news I received today. My family has been staying at the Madeira Regency Palace for over 10 years and own [now’ owned’] 3 timeshares at the Palace. But for the last 3 or 4 years we knew there were issues with the lack of maintenance to our apartments. Stained carpets, grubby chairs, needed repaint etc. Each year we saw a little bit more life leaving the atmosphere of the Palace. Each year a little less extravagant Christmas decor… Mrs Camacho was visibly sad last year.

    I wonder if the Pestana group or someone would rescue the hotel as there seems at the moment little hope of the present owners coming back with such high debt. I hold out some hope for a solution. More news will be issued in 3 weeks time.

    I understand that many other hotels on the island are going to the wall. What can be done? Madeira relies on the tourist trade…work is hard to find on such a small island.

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  16. Re Madeira Regency Palace closing. What is the up-to-date information? I believe there was a meeting yesterday for all staff with the Administrator. As Madeira Regency Palace is saying they have been instructed to close on 30th June, more news in 3 weeks time is too late. I own timeshare there until 2020 and am due have a holiday this Summer with family.

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    • I am at the MRP on our time share and am very sad to say all the staff were given their notice yesterday and the MRP is closing on the 30 June.
      The administrators were in yesterday to serve notice.
      There are three creditors one being the Social Security, the second being the Nova Bank which is owed the most money and the third being the Millenium Bank..
      The Social Security and the Nova Bank are happy for MRP to continue but the Millenium Bank are being bloody minded and are the one forcing MRP to close.
      The staff are extremely upset but are also extremely professional in that they are carrying on smiling ensuring we all enjoy our holiday knowing that on the1st July they will loose there jobs.
      We as members that are here sent a letter to rhe directors of the Millenium Bank but they have ignored our plea. it was also sent to the tourist board,Nova bank and the administrator but it has fallen on deaf ears.
      Rumours are going round there are three buyers interested two of which would accept the timeshare one of which would not but these are only rumours.
      I feel sorry for the members due to come after1st July but can asure those of us that are here have tried hard and can only hope the situation is resolved in that a new owner takes over soon that accepts and honoursour time share or Millenium Bank have a change of heart before the end of June and pressure is put on them by the Nova Bank, the director of Tourism and the Prime Minister of the island.
      It is a disgrace that the Millenium Bank who are not owed the major creditor can hold everyone to ransom like they are doiing and we can only feel they have an ulterior motive for doing so.

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  17. Oh how awful for the staff…..like many, we got to know them over the years. We were told that talks would still continue up to and after 30 June and perhaps they might (‘might‘) close to reopen if a solution is found. However the staff cannot stay in limbo……..Whether the bank change their mind or a buyer is found….remains to be seen.

    This has been our yearly Christmas holiday and we will still continue to come to Madeira, except this year (if no change to MRP) we will book into another hotel/apartments that we have stayed at previously. Our points are still good for a year.

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  18. Isn’t it sad that we have to rely on news from fellow timeshare/flexi club owners, rather than the MRP?
    So now the staff know the situation (their jobs will no longer exist in three weeks time) but we cannot move forward and look for alternative accommodation, as there still exists a possibility that a deal with other hotels might be brokered.
    Whilst our thoughts are with the staff, and we hope they can find alternative employment soon, it would be useful to know our future before 30th!

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    • Can someone from the Millenium Bank answer and advise the time share members why, when the Novabank and the Social Security want the hotel to remain open they are prepared to force rhe closure of the MRP and put 110 loyal employees out of work and put under threat 3500 time share owners when they are the minor creditor.they have had letters from members but refuse to answer that question. It is a disgrace that one minor creditor can force the losre of this great botel and this would be the first ever hotel in Portugal, not just Madeira to have this thrust upon then. We want answers from the Millenium Bank, a rethink of what they are doing and a change of heart. There are other ways like restructuring.

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  19. Has anyone any news on the latest MRP situation. We are timeshare owners with flights are booked for early July. If the hotel is definitely closing then I will look to donate the flights to Madeira to charity as after being ripped off with no communication by the MRP three muskateers like others I have no interest in spending anymore money on the island.

    People are naive if they think people will sit quiet beyond 30th June. The ripple effect will effect ongoing tourism and it is not just the closure & loss of business at the MRP that will effect them it will be adverse media coverage for continuing to sell timeshares when they knew that the future of the hotel was in jeopardy. So whilst I am truly sad for the MRP staff, I find myself more greatly saddened at the bigger picture of the long term reputation of Madeira as it will be tarnished by this what can only be described as distasteful activity which will impact on many countries across Europe. How sad that someone at a higher level than the MRP management team hasn’t stepped in to control and minimise Madeira’s risk from this.

    From the correspondence we have received it appears that it is known that MRP will close and timeshare owners and flexi week owners will lose everything. There is not expected to be compensation as others have said there is no ABTA bonding. The hotel is expected to close and reopen later in the year. In the meantime until someone feels brave enough to communicate (which I fear they will not!) we will have to sit back & wait until a media frenzy then breaks out on 30th June 3015.

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  20. Certificates of entitlement to rooms and dates were deposited on purchase in Isle of Man. Do these have any validity? and. more importantly, any value?

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  21. I think they must have some validity as legal documents. It is worth pursuing with the Isle of Man agency once the decision is made public. Hopefully we can recoup some of the loss.

    Have you looked at the latest dated blog? There are three going at the moment which means I am checking all 3 for up to date comments. On that one Alison is asking for anyone who wants to consider taking collective action to message her.

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  22. What is the address of the other two blogs. No one seems to be willing to tackle the Millennium Bank and why have the Maderia Government and the Tourist Office not getting involved to make this bloody minded bank fall in line with the Nova Bank – who are owed most of the debt and the social security. Why have other hotel groups on the island allowed to continue when they owe so much more. I do not think the Millennium Bank, the tourist board or the Madeira Government realize how mush damage this is going to do to the Madeira Tourist Trade. There is still two weeks to collectively make this one bank fall in line with the other two creditors. I understand when the Regency Club went through a similar situation there were mass protests outside the banks – why is no one doing that for the MRP

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    • cant help but feel that the reason no one at a senior level is intervening is because there is a better deal planned for the future….maybe something to do with the plans that the Ronaldo/Pestana group have for developing the Palacio next door. That would surely fit with why the Palace has to close and the banks knowing that they can get better return on investment. But I appreciate this is pure speculation and we all have another 14 days before reality becomes fact.

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      • I would be sorry to see the RP go at the expense of the Madeira Palacio, but I did love that hotel so much and was so sad to see it close and all its lovely staff.

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        • I do not think the regency will close at the expense of the Madeira Palacio. Stong rumours are the Millenium Bank who are owed the least money have a buyer in the background. The administrator has also said there is light at he end of the tunnel and there is a lor of confidence the MRP will reopen with a new owner and timeshare will be safe. If it does not then the repercussions for the Madeiran tourist trade will be enormous. The Palacio and the Ronaldo hotel are I feel separate issues and nothing to do with MRP closure which everyone is confident will only temporary. If it was not for the Millenium Banks dogmatic attitude it woud not close at all and all the wonderful staff would keep there jobs. It is the staff I really feel sorry for as many have been there since the hotel opened in 1998 They do not deserve this. I only returned last Monday after a months holiday and they were still trying under difficult circumstances to ensure all the guests – and it was virtually full – had a good holiday

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  23. I’m inclined to agree with Alison. If any deal had been brokered I would have thought it would have been before the public news on the closure was made. This ‘save us at the eleventh hour’ notion probably only happens in the movies. Like she says, all will be revealed or confirmed on the 30th.

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    • Hi
      wondered about the “Ronaldo /Pestana” comment. A) didn’t know there was a connection between them &
      B) Didn’t know there were any plans re the Palacio.
      I’ve been a Pestana Timeshare owner for about 14 years now. LOVE coming to Madeira at least once a year.

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  24. Negotiations are ongoing re Palacio(again!) but the Pestana deal with Ronaldo is either for the old oil terminal next to RP or the harbour area in Funchal where Pestana have supposedly given the shopkeepers notice to quit to build a hotel there.

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  25. Alan

    Comments are spread over 4 blog posts at the moment, but the majority of those with an interest in MRP seem to be commenting on this post. For additional post/comments look at these in addition to this one:
    9th June: https://www.madeiraislanddirect.com/blog/2015/06/ronaldos-mother-regency-palace-hotel-latest-ponta-delgada/
    31st May: https://www.madeiraislanddirect.com/blog/2015/05/ferry-developments-regency-palace-latest-palacio/#comments
    21st May: https://www.madeiraislanddirect.com/blog/2015/05/beaches-criticised-ferry-rumours-regency-palace-rumours-new-pestana-brand/#comments

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  26. My wife and I bought at the Palace when it was a building site. We were told that it was a timeshare development partly funded with European money. The Europeans had insisted that it be built with a small hotel attached. Our timeshare there was legally registered. We now have the Millennium Bank attempting to claim the then owners had no right to sell timeshares as they were not registered under Portuguese law to so do. At the time we also had Timeshare at the Club with the same owners. THIS ELABORATE ATTEMPT AT FRAUD BY THE MILLENIUM BANK NEEDS TO BE EXPOSED IN A COURT OF LAW. It is an attempt to defraud all registered timeshare owners. It is an attempt to defraud European government. It is an attempt to defraud the Government of Madeira and pour scorn and contempt on Portuguese Law. Mr President it is unworthy of you. In this regard you need to clean up your Government. Regards Peter Franks

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    • Does anyone want single tickets from Manchester to Madeira for 6th July and 4 tickets from Madeira to Faro for 13th July? Just need to buy your tickets home and pay for the name change on the tickets. We have rebooked our annual holiday elsewhere. Happy to donate to local charity. If anyone wants them please contact me on [email protected]

      Re earlier posting re forming a collective for exchange of news/info re potential closure of MRP I have set up a Facebook page for members to update each other with any communication updates or help they can give each other. It can be found At Madeira Regency Palace Members Page and I can also be contacted on the above email address for those who may not have access to Facebook. Hope someone can use the flights at least our loss can be someone else’s gain!!

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      • Is it not time that this was exposed to the local press to put pressure on the Millennium Bank, Tourist Board and Minister of the Island to act now to save the MRP BEFORE 30th June

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  27. While I understand the frustration and anger at the situation of MRP, but really timeshare and the like is always a risk. At the end of the day, you go on holiday, are invited to a presentation and give thousands of pounds to a person/company you have never met or had dealings with before. Yes, there is a 14 day cooling off period. but not much else.. My anger is aimed at the person(s) who, instead of running a business with repayments to the bank and other creditors chose to use the money for other purposes, as with the Golden Gate ( The same people)
    The bank which is not applying for repayment has no need to do so as it also went bust and Bank of Portugal took over their bad debt books, Social Security, I think is wrong, what about the payments due to people who are going to be unemployed now, we the local tax payer are picking up the bill. Millenium are already owed millions from the same people for the demise of the Golden gate, what ever deal is brokered they should be paid back, no question. Problem is, this is the way Portugese finance works, wrong though it may be. Quinta do Lorde is in exactly the same situation and the finance backers are getting no return on their money.
    It is a worldwide problem within the timeshare business, as born out on this forum on Trip Advisor, makes interesting and worrying reading.
    http://www.tripadvisor.co.uk/ShowForum-g1-i10700-Timeshares_Vacation_Rentals.html
    I hope that the Hotel does at some point re-open and return to the fantastic place it was once, it’s a shame when people turn their back on Madeira because of one bad egg, after all everyone who has potentially lost money , took that choice to join the club.

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    • Thanks Joanne for the prompt. Both airlines have offered to change the passenger details (names) for a significantly lower charge than the original flights cost. Obviously travel insurance does not cover cancelled flights due to having no timeshare to go to.

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  28. Alison, can I point out that anyone buying your ticket may also have to pay the fare difference (if there is one) , it isn’t a name change it is a passenger change and the rules are very different, should the airline allow it, (not all do, check the T&C’s). A name change is when an error has been made in entering a name on the ticket, a passenger change is exactly that and airlines do not always allow it. Hope this helps to avoid any confusion.

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  29. We have been visiting Madeira for the last 15 years and have seen many changes. Some great infrastructure improvements but sadly too many hotels built with too few tourists to fill them during a really hard recession. Timeshare owners bring a lot of wealth to the island and continue do so every year. It is hard to understand why a hotel with 80% capacity should be threatened with closure and it will be difficult for Madeira to regain trust should this become a reality. We wish everyone well and hope for the best.

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  30. We have a time share at the Regency Palace Hotel and I have contacted a company called The Litigation Management Company Ltd who have undertaken to get back the money that we have parted with fraudulently to The Regency Palace. Has anybody else gone down this road? and does anybody know if this company is anymore honest than the Regency Palace?

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    • The Camacho family collectively have robbed and defrauded us. Our timeshares if correctly registered should be protected under European Law. Any group of Banks that lends this group of people many times their assets have behaved without regard for prudence and should bear full responsibility for this situation and be liable for the debt. There are aspects of fraud in all this.

      I remember President Jardim’s daughters wedding was at the Palace. Who in actual fact paid for it.

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  31. How was the money ‘taken fraudently’ – you signed a contract to buy into a timeshare scheme with a full 14 day cooling off period. The fact that the management team chose not to repay the bank is not fraud, but you may be interested to know that Luis Camacho has been convicted of two counts for previous activity with relation to non payment of SS and his defence being he was more interested in paying staff and suppliers.than Social Security. He has been given two jail sentences. It could be that you may be throwing good money after bad where is the litigation Company going to get the money from?? With mounting debts of many millions of Euros it looks unlikely that anyone will recover anything and it will be difficult to prove fraud.

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    • I am like lots of others and have heard nothing official at all.
      I would like to know if we can still go, as planned, in October.
      If not then we have flights spare.

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      • I know…the whole situation has been managed abysmally. I believe from internal sources in Madeira that closure is planned for today hence my post I just want to know one way or the other. If anyone in Madeira feels like popping round and knocking on the door & finding out then I would be prepared to pay the taxi fare!!

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  32. Dave W, why not still come to Madeira and try one of the other fab hotels here, one bad egg in a resort of hundreds of very good hotels shouldn’t put you off this beautiful Island,, please don’t abandon Madeira because of one place going bust.
    Went past today and no cars in park, I know people who were in the timeshare side have left, but I will check the daily news and post if I find out. Info very thin on the ground.

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  33. Quote from yesterdays Diario
    >Given the termination of the Regency Palace Hotel , scheduled for tomorrow , workers hotel industry unit , will focus the 16 hours, next to the hotel to say goodbye to the last cliente.<

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  34. I received this ….Dear Member

    Just to keep you up to date I am sorry to inform that for the moment the banks are closing the Regency Palace and at this stage we cannot confirm that the hotel will be open or that your entitlement will be honoured by the future owner of the hotel.

    We will be forwarding again an email to all our clients advising them of this and indicating your future contact.

    I would like to wish you all the best and hopefully we can continue to welcoming you back to this hotel in the future

    Kindest regards,

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  35. & Not so much as a thank you for the 20 years of money you have paid up front that is conveniently being hidden under the rug…but we would be happy to welcome you back and take your money again in the future if you will be daft enough to let us!

    Apologies for being cynical – don’t want to cause offence. I realise there are many good hotels on the island however people need to be respectful of the fact that booking other accommodation when savings have been blown is not an option, particularly when jobs are in jeopardy and hours are being cut all across Europe.

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    • The Madeiran President and the Tourist Office could have prevented this. It is ONLY one bank and they are owed the least. The social security debt has come down quite considerably. Other hotel groups owe considerably more than the MRP – it is a disgrace caused by an irresponsible bank and a fraudulent owner

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  36. We are now waiting for the Administrator of insolvency to inform us of the contact for our members and the official email regarding the closure of the Palace has to come from him.

    Kindest regards,

    Lígia

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  37. We left the palace yesterday Monday. Heard it was closing at 12 noon today.
    No word from administrator yet. Rumour – there are many that 3/4 companies are considering purchase, We have been told to wait and see.
    We are here another week.

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  38. We were going to use our second “try before you buy” next month. We have 4 flexi weeks also, which we bought less than a year ago I have been checking for emails since we were told it may close June 30th. Ever the optimist
    I have left contacting the management hoping for a solution, & only found out wit had actually closed by doing an on-line search. To anyone else with an investment in this company, what do we do now?

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  39. My brother & I bought 6 flexiweeks about a year ago. We have only used 2:of them. We were at the MRP last Christmas and nothing was said then. I only received the email 29th June that it was going to close. I hope we have a claim to get any monies back.

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  40. Like many others I bought flexi weeks at MRP and have unused ones left. I only heard about the closure yesterday. Have other flexi owners had any legal advice re redress or recovery? I understood Portugese law means any new owners would have obligations to us

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    • Selling flexiweeks is an illegal activity. You have been defrauded.

      As a timeshare owner I have not received any communication whatsoever. The Millennium Bank has lent money imprudently but are not willing to honour their liabilities they are also defrauding legitimate owners of their legal rights in an attempt to avoid paying compensation for this outrage. The Palace is quite viable. It is more valuable now that dishonest hands have been removed from the pot.

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  41. We have been following all your comments with interest. We also have 9 years timeshare left plus all maintence fees paid in advance. We had not heard from MRP since the first email 26/5 so emailed Ligia on Monday, we then received the other two updates on Monday evening. Heard nothing since. Now that the 30/6 has come and gone we still have not heard anything. Surely somebody can tell us something!!

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  42. Like so many other owners I have a considerable number of timeshare weeks, flexi weeks and flexi days. There 11 of us, all family booked to come to MRP over two and a half weeks in August. We have had to book elsewhere at considerable cost to us. How can we make the Administrator write to us officially? We only have communication from Lgia. It is now beyond MRP closing. We need to know their proposals so that we can seek redress, legal and financial.

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    • Can I suggest you contact the Timeshare Consumers Association. I found the extremely helpful today when I called them and suggested they put a communication on this blog to advise members. We have three options,

      1) to get out now but we get no money back but have no further legal obligations

      2 to claim any moneys paid through your credit card Section 75 is the appropriate section to check out

      3 to hang on to see if anyone takes it over. If MRP is taken over the new owners are legally bound to accept our time share on the terms we signed with the trust. They cannot for example suddenly double the maintenance but have to accept what our legal document states.

      Louise Milford is the person to speak to at the Timeshare Consumers Council for advice.She is extremely helpful.

      Reply
      • Palace. The selling of flexiweeks was illegal. Borrowing money from Timeshare owners was illegal and not paying them back is blatant fraud.

        For those who hold Timeshare Certificates registered by First National Trustee Company. This is a UK company with Offices in London and should be subjected to investigation by UK financial authorities. I suggest Financial Ombudsman and Financial Conduct Authority.

        FNTC have made no effort to represent our interests. According to the Millennium Bank our Timeshares are illegal. Therefore I must conclude FNTC are also part of the fraud.

        Reply
  43. We have been in touch with FNTC but so far have not had a reply. Would think that if a lot of people got in touch with the Financial Ombudsman that they would have to look into it?

    Reply
  44. Anyone who paid the deposit on a credit card transaction could look at Section 75 of the Consumer Credit Act 1975. Look at money saving expert .com who’s founder / editor is Martin Lewis. Apparently if you only paid a deposit you can claim for the full purchase price , not sure if this scenario would be something you could claim for, but worth a try.

    Reply
  45. Good morning,

    Please see the below link to our article from yesterday regarding MRP;

    http://www.timeshareconsumerassociation.org.uk/2015/07/01/madeira-regency-palace-update-do-you-want-to-get-out-this-is-your-opportunity/

    The above link details your options with regards to exiting/compensation claims – if you want to exit the best time to do it is now.

    After discussing this matter with many Consumers over the last week it looks as though a lot of people want to hold on to their agreements in the hope that a buyer will take over the hotel and the contracts.

    If you are one of those people then our advice is to get protection. Any buyer should honour the agreements made but that doesn’t necessarily mean they will. Regarding getting protection of your rights the TCA can recommend two avenues;

    1. Do it yourself – Seek a reputable Lawyer within Portugal who can represent you all. They will write to the club to register your rights, this will ensure that any new buyer is aware of your interest. They will then proceed to help you in the event that any changes are made to your contracts.

    2. Employ someone to do it for you – TESS Ltd – a paralegal company recommended by TCA will employ a reputable Lawyer on your behalf and deal with all translations, communications and updates. They will charge a fee of £600.00 + VAT.

    If you need any help or would like to engage with TESS Ltd, please give me a call on 01253 724 902

    Kind regards

    Reply
  46. Camacho has been found guilty three weeks ago, by the Madeira Courts, of defrauding the Government of taxes and Social Security. He has been sentenced to prison but is out in bail pending an Appeal. In addition he already has suspended sentences for two other fraud cases. He and the Regency and Time Share is a busted flush… Time to move on…

    Reply
  47. Has anybody yet suggested some sort of class action whereby we can obtain answers to all these questions and if any legal action can be taken to gain some sort of compensation?

    Reply
  48. We still have not received any formal notification that MRP has closed either by email or letter. We were in touch with FNTC and they could only say that they thought that the hotel would open again soon, and would let us know anything more as soon as they got to know! We seem to be well an truly in the dark. Does anyone have any answers?

    Reply
  49. MRP has definitely closed, the entrance and exit have been taped off to avoid any admittance (there are no gates) there are rumours that it may open after Christmas but they are only rumours, nothing definite has been published, I would assume it will take some time, if it happens.

    Reply
  50. Should we start putting in claims to administrator/credit cards or is it too early? Should we wait until the Administrator lets us know what is happening! !

    Reply
    • I understand that the administrator has refused to write to any members. That was made clear to the time share team on the day the hotel closed but they have no access to the files to notify everybody as they were literally forced to leave by the administrator at a minutes notice.
      I have written to the administrator having spoken to FNTC to advise them of the weeks I hold, how long I have left and my MRP membership number. I was able to translate this into Portuguese through the translate button ion my computer. Not surprisingly I have heard nothing but all the advice I have had so far is that we must notify him. The Timeshare Consumers Association also advise that ” if we wish to retain our time share interest we should establish our interest in the assets and we need to make an application through a Portuguese lawyer to record an interest and caution. The caution would ensure that any liquidator/receiver would have to take the ownership and/or interest into consideration prior to disposing if the assets to other” I personally am not sure how to proceed on that. The Timeshare Consumers Association are very helpful and willing to talk with members to give advice

      Reply
      • As information has been hard to obtain I wonder if any unfortunate souls will turn up at Funchal airport only to find out the bad news from a taxi driver?

        Reply
        • More illegal activity another attempt to rob timeshare owners of their legal rights under Portuguese Law. The Banks have acted imprudently they have lent money without adequate safeguards and should suffer the loss without more dishonest activity.

          The Banks see a bunch of criminals robbing people without penalty and are saying we will have some of that. They are prostituting the good people of Madeira. Where is the President in all this, is he yet another Pal of the Camachos.

          Reply
  51. We were at MRP from 18 May until 15 June and the timeshare team did send an email to all members on the 27 May advising them at that time of the possible close and making some suggestions if you were booked to holiday at MRP after 30 June. Even though we were in the MRP at the time I still received that email therefore I can confirm it was sent

    Reply
  52. The Palace was built with European grants is it not time the European parliament was involved suggest you contact your Euro MP and complain as it is our money that has been used.

    Reply
  53. David your information is incorrect Timeshare Owners were not informed only flexitime buyers. Flexitime was according to the Millennium Bank an illegal activity so what we have here is people covering their backs in case they are sued .

    Reply
  54. Peter I can only go on what I know as I own 4 weeks timeshare and I received the letter. According to an email I received from the Timeshare Consumers Association Flexi is illegal in Spain and Gran Canaries but is as far as they are aware legal in Portugal

    Reply
    • To sell the same accommodation over and over again, as timeshare, without any guarantee of availability is fraud. The words subject to availability does not stop it being fraud. Under European and Portuguese law it is not just sharp practice, it is an act of dishonesty .

      Reply
  55. To Christine

    If (and its a big if) and when the MRP decide to publicly declare that the administration has gone into receivership, any Credit Card Payments (subject to minimum £100 spend) can be claimed back under Section 75 of the Credit Card Consumer Act. The good news is the card usually refunds you first and sorts out getting the cash back later.
    At the moment, they have your money and only Breach of Contract. So you can only go down the suing legal road at the moment. I would see what is happening first.

    Reply
  56. Read all the blogs but as most was lead by the nose and paid up front for 10years including services (5 years to run).
    I did note and comment from the start that the monies were shipped off the island, company registered in the British Virgin Islands and certs were from the Isle of Man.
    I tried to contact the Administrator, FNTC isle of Man, RPM via Ligia and Marilyn who from the outset didn’t like my comments that this was set up as a business to fail. At one point I asked for a copy of the yearly report and financials and was told that in Madeira they don’t issue them??
    I have only received the initial letter from Ligia and some scant replies from Marilyn.

    I think sensibly we have lost all hope of getting either service or money
    and suggest we go after the family through the civil courts for running a company as directors knowingly in a fraudulent manner.

    If a new company take over they will not honour the debts or contracts.

    Reply
    • YES THE BUSINESS MODEL WAS FRAUDULANT
      FNTC do not reply so I assume they are part of the fraud.
      Timeshare sales staff may also be part of the fraud. Certainly those involved in the money borrowing scam , that is money was borrowed from Timeshare owners and not paid back.

      Camacho’s Administrative Director Susana Jardim was sent to FNTC for a purpose. This maybe why our timeshare certificated appear to be fraudulent and may be the reason we cannot get a reply. They may be regulated under UK law they certainly are under European law

      Reply
  57. I have emailed FNTC and tried phoning IoM offices but answerphone only. I spoke to the London office and was told that they only hold the certificates and did not offer help, although they were dealing with the Regency Club members’ interests.

    We have to assume that FNTC is a legitimate business and that they will start acting in our interests in the near future.

    Reply
  58. A lesson to be learned…always pay by credit card…have not got our money back yet but will keep you all posted My head is spinning reading this blog…BUT one thing for sure is that most of our and their BANKS are utterly stupid and corrupt.

    Reply
  59. I have read all comments on this blog and decided to see what I could find out about FNTC online.
    It makes interesting reading to say the least ( especially regarding timeshare/ holiday club issues in mexico involving many American andCanadian clients ).
    Personally. I hope some of you do manage to get some money back through your credit card providers . However, in all honesty there are no tangible assets that I am aware of here.
    I would hate to see people throw good money after bad.
    Finally, my parents have 8 weeks timeshare here and are in their late eighties . This did not stop touts trying ti sell tham more at Easter !!!

    Reply
  60. Have just found out that 2 elderly people I know went to MRP late March and were asked if they were interested in buying more flexi weeks . shocking .. They must have known the writing on the wall then! Fortunately they decided not to

    Reply
  61. As a matter of interest, I will be losing some £11000. I hope to get about £3000 back from credit card. Prior to that paid £6000 7 years ago on credit card on upgrading. Does anyone know if there is a time limit on section 75 claims, and can you claim when you have received part of the agreed product ?

    Reply
  62. PHONE your credit card company they are the experts…not this site! You must have your unused certificates and if you have lost the merchant voucher from 7 years ago…phone your company and they will find it for you This site is not an expert PHONE YOUR CREDIT CARD COMPANY and you should be able to retrieve your money. Let us all know how you get on and YOU will be able to advise others

    Reply
  63. The timeshare sellers and OPC’s are all casual, commission based people, so they are always keen to make a sale! They are not contracted, so move round from company to company depending on who pays the best commission rates at the time. When the Classic Savoy were selling ‘off plan’ for the new (never built) Savoy, they would tell people anything to get a signature, They would never have an idea that there were financial difficulties other than the rumours which have been circulating for some years.

    Reply
  64. I am an owner for this week, but had postponed it till next year! I can also confirm that I had three emails from Ligia and Marilyn and spoke at length to Marilyn 3 weeks ago. The best we, as owners, can do is to club together to researc266h information. Please see my previous post….

    Reply
  65. We bought into the incentive scheme over ten years ago at the Madeira Regency Palace Hotel. We never got our money back si eventually swopped what we owned for floating weeks and Flexiclub weeks. We had booked two weeks this new year! We would be willing to join an action group, so please can we have some contact details. Sorry we are late – have only just found website!

    Reply
    • In common with a number of people you have been swindled. This type of scam is against the Law in Portugal. The weak need excuse for the scam is to say it was the idea of a timeshare salesman who is no longer with us. These people should be subjected to a criminal investigation. We are also being swindled by the Madeira Bank
      Espirit de Santos or Nova Bank, our timeshare ownership is being stolen from us by a Bank that made inappropriate lending without safeguards.

      Reply
  66. Hello Chris P. Cannot get my head around what you did.. Forgive me! We bought flexi time share 10 years ago and used all of our certificates apart from 2 weeks and it was a really good deal we hope to get our money back on last deal done 4 years ago under the consumer credit act. Why have you waited so long to use all those time share options up? Maybe you were under a different scheme to us ?

    Reply
  67. Silence ensues. There seems no way now to contact anyone. The ‘timeshare’ staff assured us during a recent three week stay (Thank goodness…excellent as ever apart from run down feel.) that all our ‘assets’ were safe. MMM!. Willing to join action group. Time to fight back.

    Reply
  68. I am going to try to copy and paste the emails that I receiced. I was assured at the time that these were going out to every owner, maybe not, so here goes…..

    Reply
  69. If you have received this email before please ignore

    Dear Member,

    I am forwarding again the emails of the 26th may, the 1st update and the current update of the Madeira Regency Palace situation just to be sure you receive it this time and if you haven’t please check your spam box as it could be that your firewall (security system) is high and my emails could be in your spam box. I have sent over 3000 emails and up to now I have received the same number of emails back.

    Also we could not advise you before the 26th May as this all came as a shock to us, the Company was only interested in revitalizing and restructure the debt and we ended up being taken over.

    Please note my email of the 26th and an update on the current situation of the Madeira Regency Palace:

    On 26 May 2015, at 17:56, [email protected] wrote:

    Dear Member,

    We have just been advised to contact our arriving members to tell them of a difficult situation we have in hand whereby we were told by a Court appointed Administrator that there was strong possibility that the Palace would close on the 30th June.

    It was announced on the news only 5 weeks ago that more than 60% of businesses and hotels in Madeira are in severe financial difficulties, we did not believer that we would be one of it casualties.

    We had hoped that the banks would see some sense as closing a hotel with such high occupancy levels throughout the year is crazy by anyone’s imagination but at present we are told we are unable to accept any arrivals that are due to depart beyond the 30th June but we should have some more news whether it be good or bad within the next few days and by that time I should be more in a position to advise our owners and members.

    We will contact all our Owners, Members and friends once we know something more.

    We would therefore advise that in the event of the worst case scenario you book some accommodation through Trivago, Bookings.com or Hotels.com where the booking conditions state a 48 hours cancelation clause to avoid you losing the flight cost.

    We are still hoping that something can change to the positive side as at present all 110 of us stand to lose our jobs too.

    We apologise for any inconvenience and hope that this problem can be resolved to everyone’s advantage.

    Please confirm that you have received this email.

    Kindest regards and hoping for the best,

    Lígia

    First Update:
    We did say we would inform you when we had more news and to date we still do not know for sure IF we will close.
    We can only give you facts as given by the Administrator and not hearsay or maybes at this stage so it is better to wait.

    Here is the news that we have so far….and whilst delicate negotiations are still going on we do not expect to hear until a final decision has been made.
    Currently and previously there has been enormous pressure on the Bank to reverse this decision and what little news we are receiving seems positive and it seems there are 3 Companies interested in purchasing the Palace so let’s see. Now all we can do is wait for more news.
    The email that I sent was as you know just by way of pre warning however this is as we know it from the end of last week direct from the Administrator
    We all received our dismissal papers a week ago dated 30th June but that was inevitable anyway as all of our work contracts are of course are in the name of a company that does not exist any more so hopefully whoever takes over the Palace will take on some if not all of the staff..

    We are aware this is not an ideal situation for our Members but we can only give you news when we have it and when we get some more news we will of course let you have it.
    We have given all of our members information as we have it and whilst negotiations are ongoing then things are changing it seems daily.

    In the event of permanent closure then there may be an opportunity to let you still have holidays in other places and this will be imparted to you in worst case scenario but we have not given up hope and you shouldn’t either.

    We have been told by the Administrator that there is light at the end of the tunnel and that so far there are 3 entities interested in our purchase which is good news in itself.

    It stands to reason that anyone who is considering paying millions of Euros for an hotel is not going to pay all that money and then keep it closed – that is not good business sense surely?
    Here’s hoping that this mess can be sorted out and quickly for everyone’s benefit but whatever happens good or bad we will of course let yourselves and everyone know as soon as we know more.

    One thing is very certain, there is huge Political pressure to avoid closure and I am aware personally that everything that can be done is being done and we will advise our Members and Owners immediately when we have something more whether it be good or bad..

    Once again thank you for patience and understanding in this matter and once again sincere apologies.

    Current Update:

    We still even at this stage do not know if we will be open after the 30th June as a decision has not been made about which of the 3 prospect buyers will be chosen. Two of the prospect buyers are inclined to honour the obligations and one only wants the hotel but everything is now delayed as it seams the banks are not agreeing.

    The Administrator arrived on Sunday and I hope he can give us some light as to what is happening so we will inform you as soon as possible but as you can understand it is very stressful not to be able to give further information to our members.

    Hopefully I will still be able to welcoming you back.

    Kindest regards

    Lígia

    Reply
  70. Hello all with an interest in these sad goings on.

    I have just received this email:

    From: FormerMRP [mailto:[email protected]]
    Sent: 17 July 2015 14:25

    Dear Regency Members,

    We apologise for the lateness of this email but unfortunately we did not have access to the Palace Database and the Bank’s representatives shut off access to our computers and power source before we were able to send an e mail to try to advise you all of the closure.

    We have had to try to locate over 3,000 email addresses one by one which has taken a considerable amount of time and we could not respond to any emails sent to our work email addresses from the 30th onwards for the reasons given above which we deeply regret.

    Despite high hopes of a reprieve, sadly the banks could not agree on a way forward between them before the 30th June and at present, the Palace still remains closed with security guards in situ.

    No one is sure it seems on what the future holds for the Palace, nor at this stage its Members and Owners.

    For Timeshare Members should you wish to contact the Trustees, their address is:

    First National Trustee Company

    International House,

    Castle Hill,

    Douglas,

    Isle of Man IM2 4RB.

    We believe they may however be writing to you but of course they could not assist or offer any help until such time as the fate of the Palace had been established which was not know to them either until the 30th June.

    We nor they are still aware of what will happen in the event of a new owner being found for the Palace.

    If you wish to contact the Court Administrator – Dr Orlando Carvalho his email contacts are:

    [email protected]

    [email protected]

    For ALL Flexi Members and not just those with DAE Membership there may be an optional alternative even if only as temporary assistance to enable you to have access to the whole of the DAE inventory for cheaper holidays (not just the late breaks) and this is regardless of how many Flexi Certificates you still have remaining to use.

    If you wish to consider this option you can click on the following link for further information:

    http://www.dialanexchange.com/mrp-unlimitedtravelclub#anchor1

    We are aware this is not the perfect solution but may be of some help.

    We are afraid that once this email has been sent, this email address will be closed down and we will be unable to enter into further correspondence from this email address.

    We sincerely apologise once again for not having been able to get this information to you all sooner but with all access to emails and contacts severed this has proved to be an almost impossible task.

    We hope that one day we will see you again.

    Kindest regards,

    Marilyn and Ligia

    Reply
  71. Sorry for gramma in previous post, but basically DAE will not accept any flexi club vouchers from now on, for obvious reasons that they cant send people to MRP. We are basically up the creek without the paddle.

    Reply
  72. This is now the second time we have lost money on Timeshare. The first time we were mis sold in Wales and, despite the court ordering compensation to everyone involved, the company claimed to be bankrupt and our local Trading Standards were not interested. Now our Flexi Club has gone. Great shame, we love Madeira and feel so sad for the staff of MRP.
    No more holidays for us!

    Reply
    • If you paid by credit card, contact your customer services line and explain to them. I done this with lloyds tsb and they were very helpful. I was put onto the section that deals with claims under section 75 of consumers act. I have sent copies of all my documents with a letter to them by podt today.

      Reply
  73. Further to my last about FNTC, the IoM number is now being answered. I was put through to the telephone of the person dealing with MRP, but got an answering machine and asked to leave a message; which I had also done earlier, without receiving a reply.

    In their brochure they state that they protect the interests of over 400,000 timeshare owners, and ensure that the ownership of your timeshare.is secure. We will have to wait and see.

    Reply
  74. Please add me to a list of any correspondence ,I am owed five flexi weeks,i love Madeira and eant to return!!Suzie in office told me she would be ok as she had been offerd three jobs!!What a joke this all is there were crocodile tears at the information meeting on the Tuesdat after my arrival from our hosts.\don’t worry they said we will keep you informed!!!

    Reply
  75. Hi Shirley

    Sadly, we used money saved. Hence the loss. We know better now, should have paid by card and paid the bill at the end of the month. We live and learn.
    When we bought our Flexi weeks we were told we could also use the Regency Club, am I right that that has also gone?

    Reply
      • Hi Christine

        We had no emails either, and only found out when I tried to book for next April. Margie said emails had gone to all clients, but certainly not to us, and clearly not to you. There is however lots of blogs about the matter.

        Reply
        • I received an email from ligia the day before the MRP was closing. She also said she had sent emails back in April – not true. There is a f/b page as well. Good luck with all the reading.!!

          Reply
  76. We have 10 flexi weeks left and were trying to book for later this year. We were told of the issues but have actually received no further information.
    I have contacted my Credit card company as I used this for the initial deposit. I have sent them as much info as I can find including e mails copied form this blog.
    I am not sure what the outcome will be but I believe that in spite of some of the earlier promises the Flexi club week are well and truly gone so I intend to try to recover what ever I can.

    Reply
  77. For information, – I was sent this on the 16th June …..

    Thank you for your email to Ligia – it’s Marilyn here.

    This is the latest update we have as of the 4th June – unfortunately we do not have Skype however if you wish to call us at a time that is convenient tomorrow morning we can call you back.
    00351 291 703029

    The email that Ligia sent was just by way of pre warning however this is as we know it from last week direct from the Administrator and not from rumours from taxi drivers and the like who already have 7 different companies having bought the Palace including a Russian and a Chinese company!!

    Currently and previously there has been enormous pressure on the Bank to reverse this decision Now all we can do is wait for more news.
    The Administrator said that whilst the 30th of June for the company was certain, closure is not yet certain.

    We all received our dismissal papers a week ago dated 30th June but that was inevitable anyway as all of our work contracts are of course are in the name of a company that does not exist any more so hopefully whoever takes over the Palace will take on some if not all of the staff.

    We are aware this is not an ideal situation for our Members but we can only give you news when we have it and when we get some more news we will of course let you have it.

    We have given all of our members information as we have it and whilst negotiations are ongoing then things are changing it seems daily.
    We are still not sure how this will pan out however, IF we do close on the 30th June I do not think it will be on a permanent basis.

    We have been told by the Administrator that there is light at the end of the tunnel and that so far there are 3 entities interested in our purchase which is good news in itself
    It stands to reason that anyone who is considering paying millions of Euros for an hotel is not going to pay all that money and then keep it closed – that is not good business sense surely?

    Here’s hoping that this mess can be sorted out and quickly for everyone’s benefit but whatever happens good or bad we will of course let yourselves and everyone know as soon as we know more.

    One thing is very certain, there is huge Political pressure to avoid closure and I am aware personally that everything that can be done is being done and we will advise our Members and Owners immediately when we have something more whether it be good or bad..

    Kindest regards to you from us all!
    Marilyn

    Reply
  78. Hi Folks, this is a somewhat belated entry into the fray. I am responding to a comment posted by Tom F on Monday 13th July, in which he said that claims under section 75 on the 1974 Consumer Credit Act are limited to 6 years. Having spoken to a solicitor friend of mine, he assures me that the 6 year period (“Statute of Limitation” as covered by the Limitation Act of 1980) starts when the breach of contract occurs. We have 6 years from 30th June 2015 to pursue a claim!
    My sign-up with the MRP was in 2007 and I will be pursuing a claim with my credit card company. Despite the above assurance, I remain hopeful rather than confident.
    I will let you know what happens.

    Reply
  79. Please can you add me to your list for any future correspondence ,as we are owed six weeks over the next three years on flex club . Is there any chance of anyone taking over?

    Reply
  80. All you need to know Alec… Did you pay by credit card? If so you may be able to retrieve all of your money. Contact the credit card company. If not you have probably no chance. But keep exploring other options and do not give up

    Reply
  81. Great news arrived this morning…we received some of our money back from our credit card company for the flexi weeks we still had to use! Unexpected bonus..just had to send evidence of our purchase and all the info regarding the closure. 10 / 10 to the RBS….so glad we used our credit card for the whole of our purchase.

    Reply
    • Congrats Rod. What options are there Shirley, when one used their savings? The link sent offers cheap holidays. We already paid for our holidays with the Flexi Club and cannot afford to waste money, even if it is supposed to be cheap.
      I hope lots more people have success from the card companies.

      Reply
  82. WE WERE LATE PAYING OUR MAINTENANCE FEES,WE HAD TO PAY THEM AT THE END OF MARCH BECAUSE THE REGENCY SAID IF WE DIDNT PAY WE WERE BREAKING OUR CONTRACT AND LOSE ALL OUR WEEKS. JOKE THEY MUST HAVE KNOWN WHAT WAS HAPPENING THEN BUT THEY STILL TOOK OUR MONEY

    Reply
    • One would like to think they were still hoping to stay open, in which case they would need every penny they could get in order to keep paying the banks.
      As someone who has been taken for a ride by a Timeshare company’s lies, perhaps I am being blinkered.

      Reply
  83. Hi all I just got an email confirming credit card upholding the claim and money being refunded. To all with credit card payments, keep pestering the Section 75 claims dept. of your company and send as much info as you can. It can take up to eight weeks to arrive. MRP’s failure to respond to any correspondence from the claims people within 14 days means you should get some cash. Good Luck all.

    Reply
  84. For Shirley
    Keep evidence of the 2 letters or emails (hopefully dated as well) sent to your card company. Give up to eight weeks and send a dated email requesting a letter of deadlock then go through the Financial Ombudsmen (look on internet for your local one) again if there is no response within 14 days the Ombudsman will take up the case

    Reply
  85. For S. Simler,

    Hi, good to hear you are getting your money back, thank you for posting this valuable information, gives us all hope.

    Can I ask, did they refund the total amount that you paid for the whole of the Contract period, or just the balance of the time you had left to run.? I have requested a claims form, just waiting for it to arrive. Am now feeling a bit more positive about everything.

    Reply
    • hi everyone…we only claimed for our unused flexinweeks and that’s what we were refunded. We think that was very fair as we had enjoyed the other weeks we had used.

      Reply
  86. Hi PC

    I got my deposit back and refused to pay the balance which was due ironically, on the 28th May, when the s**t hit the fan.
    If you had flexi weeks that are unused, I would imagine that would be the extent of your refund. Just remember to send copies of your certs to the card company as proof of non usage. If you are timeshare holder then I’m not sure. Just stick with it and keep all correspondence. Good Luck

    Reply
  87. Re latest email from Marilyn and Ligia ‘…..the Palace still remains closed with security guards in situ….’ So, who’s paying the security guards???

    Reply
  88. Thank you everyone for your helpful input re section 75 claims. Mine was a 30 year timeshare contract, 15 years still to run. I only telephoned the CC company on Friday for a claim form. They said would take 3/5 working days.I have already copied all my documents, so will see what they make of it, when I send in the claim. I will keep posting, let everyone know the outcome.

    Reply
  89. Hello Rod Heald or anyone else who can help. We have our original invoice for 4 weeks that we purchased. We used 2 of them and our bank are now asking for terms and conditions which we cannot find. We have sent copy of the unused certificate(flexi plan) to them and the invoice and details of closure. Does any one have a terms and conditions page that could be emailed to me.?

    Reply
  90. Hi Shirley

    I would think that just the original agreement would be fine. That, and the invoice, was all I sent. Your issue for the claim is ‘Breach of Contract’. Your agreement states clearly you can book most weeks except the flower festival and a couple of other dates. MRP are not letting you have ANY. If the bank are still reticent wait the 8 weeks and get the deadlock letter. You can find more help here

    http://www.which.co.uk/consumer-rights/action/letter-of-deadlock-request-before-going-to-the-ombudsman

    Reply
  91. Hi all posters,

    Have any of you claiming under section 75 been for the original Timeshare Contracts written between 1999 – 2002, or are you all Flexi week or points.? Reason I am asking is that I have read that section 75 does not apply in some circumstances. Our terms and conditions state that we are bound under the rules of British Virgin Islands, as originally Madeira Regency Palace Ltd company was registered in Tortola, BVI and our contracts bound under the Island rules,.even though our holiday base resort is in Madeira, and our deposit was paid into Euros. The balance was paid in GBP into a branch of HSBC in London. FNTC the (supposed) Trustees are of course registered in the Isle of Man. With hindsight I suppose we should never have signed anything at all.!!!!! Someone wrote earlier in June, on this blog that the Millennium Bank who had an interest in MRP were trying to prove that our contracts were illegal, because the owners were not registered under Portuguese law to sell Timeshare. I wonder whether this is the case.?
    Have now received the section 75 claims form from my credit card company, so I will fill it in and return it to them and see what they say. But I am not confident the outcome will be positive.

    Reply
  92. My credit card company told me that they will only refund money paid out in the last 6 years. I had upgraded 7 years ago and then extended for extra years last year. I have been refunded last years money but they said they were unable to refund me the £8000 which I was in credit from earlier payments made by credit card.

    Reply
  93. Tom F
    try the ombudsman route re the 6 year rule, understand the 6 years start from the breach of contract which is 30 june 2015. Some credit card companies implement their own time periods. Which are outside the actual law. Good luck

    Reply
  94. hi tom just looked up time limits it is quite clear you have 6 years to pursue your claim with card company . nothing to do with 7 years ago being invalid. keep at them.

    Reply
  95. Hi, just an update, have had contact following my section 75 claim from CC provider.
    They did not query that my claim was for a payment in 2002, nor anything about where the Company was registered. Also nothing regarding Portuguese Law etc. etc.
    Their query is that at the moment the Company is in Administration, not liquidated. And that they have to wait to see whether someone buys the resort and I am then able to continue as before.Therefore not
    being out of pocket.
    I have written to both Administrator and FNTC, gave them 28 days to reply and that is now time up. But CC provider wanted me to email Administrator, which I have to ask what is happening.
    I have gone along with this at the moment, but having read about section 75, both the CC and the supplier of services are jointly liable, and that if no satisfaction can be gained from the supplier then the CC provider are liable. Also, that even if the Company is only in Administration a claim can still be sought under section 75, if the services are not going to be available ( holidays taken). Even if the holiday period is in months to come. Under a term “anticipatory breach”. Got this from the Martin Lewis website, he is pretty cute, and his advice usually accurate. Also, that it is up to the CC to do the running, not the customer ( although I have done all I possibly can ).
    My CC said they had other claims for the same resort, so I suppose they are trying to hold off the rush of claims, if someone is known to be successful.
    I will contact my CC again, and query this point regarding Administration and Liquidation. But if don’t get any positive results, will contact the Financial Ombudsman.

    Reply
    • Many thanks for update PC I put in a claim to CC company under section 75 on 5th July and have not received any payment yet

      Martin Lewis is fantastic…will go onto his website …was it easy to get him to reply? Am going to Madeira soon (booked somewhere else) as flights were booked last December…. Is there anything else I can do whilst over there?

      Reply
      • We used all the advice from Martin’s website, sent copies of all our documentation plus print offs from this website forum and a letter we sent to the administrator. We then had a credit put on our RBS credit card for the UNUSED weeks of our flexi certificates…

        Reply
  96. Hi Shirley,

    Have your CC company contacted you regarding the claim since July 5th , and agreed they would give you a refund, or asked you any more questions. As I only put my claim in 14 days ago and they contacted me on Friday, to say they were waiting to find out whether the Administration became Liquidation. They didn’t say I wasn’t eligible just that they were awaiting more information, but I think they are stalling for time.As they have other claims from the MRP.

    The information I got regarding the rules of section 75, was from The Money Saving Expert website, which is information from Martin Lewis. It gives the rules about section 75, and what guidelines the CC company have to adhere to by law. Have a read and see what you think.

    We are missing our Madeira holidays this year, and were due to go on 28th September. I would like to think that as we are unable to go, that we would be eligible for a refund, plus we have paid maintenance for two apartments for 2015, and where has this money gone.?

    Not sure that you can do any more when you go to Madeira, except maybe go and see whether the police still have the Incident tape across the entrances, and security guards. Or if anything has changed.

    Hope you enjoy your holiday, luckily we hadn’t booked our flights for September as we didn’t use our other week in June, as we heard a rumour the Hotel might close and didn’t want to book flights and get there to find we had no accommodation.

    Reply
  97. Thanks for info Rod,

    I can only wait now, see what my cc provider says. I have asked them why another cc provider would pay out under section 75, for future accommodation not able to be used, at the same resort that I am claiming against, when the company is only in administration. But why they won’t.
    My claim now gone to complaints department, awaiting response, will keep posted.

    Reply
  98. Hi all,

    Just to say that my cc providers complaints dept, today ‘phoned me to make an offer of settlement under section 75, which I have accepted.

    They must have decided that they were not complying with the rules under section 75. They are paying me the remaining 15 years left to run, on my agreement, plus my 2015 maintenance payment for the apartment.

    I am happy with the result, and hope everyone else claiming gets what they are owed. As my original cc payment was in 2002, this disproves the theory about the six year time limit. The time limit starts when the Breach of contract occurs, which was the 30th June 2015, not when the payment was made.

    Reply
  99. my mother and father in law arrived on the island yesterday to discover that the hotel had closed
    they have now had to pay to stay in alternative accommodation and my heart breaks for them. they didn’t get any correspondence whatsoever from this sham of a hotel and arrived there to find the place had closed . absolutely disgusting
    they are not only out of pocket for the 8 weeks they have paid for via the flexi scheme but they’ve also had to pay out on a credit card for another hotel!

    am i right in thinking they can try and claim this money back if they paid for the weeks on a credit card? they bought 8 weeks back in october and this was their first attempt to use them
    should they speak to the bank before anybody else?
    any advice would be much appreciated. heart goes out to all who have fallen victim to these scum bags

    Reply
      • Hi Shirley
        Yes it seems like some of it was paid for on a credit card and some was paid from savings. I’m guessing any compensation re their savings is out of the question so the only thing we can hope is that the cc company reimburse them
        they have an email account but had no emails from the hotel about the closure and so arrived there last night to find the place completely empty. They’re now at the regency club (I think) but are heartbroken as you can imagine and very much out of pocket !

        Reply
  100. So sorry to hear of this sad situation.under the rules of section 75 credit card company are liable for the whole amount even if only part was paid on cc,as long as it all relates to the same transaction. I wish them well.

    Reply
    • Thanks for the info . Will let them know that there may be light at the end of the tunnel. The hotel that they are now staying at have given them free half board and upgraded them to a suite as a goodwill gesture .
      Good luck with your claim, let us know how you get on!

      Reply
  101. I have not had any emails either and only found out about the closure when I found this website. I have contacted my cc company and will be submitting my claim for unused flexi club weeks.

    Reply
  102. Hi All. I’ve only just got to hear about the closure of the RP. Like a lot of people we have 5 unused credits linked to the RP flexi club. I can see from the posts above that those who paid by cc seem to making some progress in claiming back some of their costs. Looking back at our records it appears we paid through our Visa debit card. I’m not sure where to begin in an attempt tp get some money back or at least have the 5 weeks holiday we’re owed. Any advise would be much appreciated. Steve

    Reply
    • My husband and I also paid by Visa debit card and we don’t know how to go about recovering some sort of compensation. It’s very unfair that those people who paid by credit card seem to be the only ones who can recoup their monies.

      Reply
  103. P.C. Which CC Company.has agreed to pay out . I think it is important for us to know. We can then quote that Company as a precedent to other companies if they refuse.

    Reply
  104. Good morning everyone,

    It is fantastic to read that your Section 75 claims are being accepted!
    I received a call yesterday from the Section 75 department of Tesco bank asking for some information regarding the resort. Hopefully that will help further claims with them.

    We would love to publish experiences that you have had in respect to making these claims as this will help others who do not use this blog to consider pursuing their own.

    If anyone would be willing to share their story, please email us-

    [email protected]

    Kindest regards and good luck to everyone

    TCA

    Reply
  105. Thank you to all who jogged the memory about claiming on a credit card. I sent in a claim to NatWest Mastercard for half of the 6 weeks paid for, using emails and scans of documents. After 11 days (7 working days) the exact amount claimed has been credited to the account. A cheque would have been more convenient, but I’m not quibbling: if that isn’t good service, I don’t know what is.

    Reply
  106. Information about debit card chargeback can be found on the internet. Here are two possible links:
    http://www.which.co.uk/consumer-rights/problem/how-do-i-use-chargeback
    http://www.which.co.uk/consumer-rights/problem/how-do-i-use-chargeback
    Hope that helps.
    As for fairness, I would agree that making the credit card companies liable seems a little odd. The rules may have been set up to try to prevent irresponsible lending. In the case of debit cards, no lending is involved.

    Reply
  107. Hi, we bought flexi week in 2009 and we have 4 remaining week. We are Hungarian and paid the week by debit card in 2009 June. Whom we should contact, any advice? Thanks

    Reply
  108. Follow up to credit card claim. NatWest have sent a letter confirming the credit, with the following, in short:
    – they are checking with the retailer’s bank
    – they may return to me later if actions questioned of if further information received.
    If anything of relevance happens, I’ll report on it.

    Reply
  109. Hi all,

    Have just had the refund paid into my Bank Account by my credit card company, Barclaycard. My original deposit payment was made by this card in 2003, the balance by cheque, for my Timeshare agreement.
    They made a fair offer, which I accepted of a refund for all the weeks that I am unable to use up to 2031, plus they agreed to add to this the maintenance payment for this apartment, that MRP should not have taken, as no maintenance was going to be done for my benefit.
    From submission of claim form to now, this has taken only 22 working days. I am happy and hope that other people in the same position who paid part of the bill using a credit card will also be able to claim under Section 75.

    Reply
  110. Thinking of registering ‘Right To Occupy’ to help secure a hold on our flexi-weeks. This of course is not a guarantee but is there anybody out there who is considering this or who have already gone down this path?

    Reply
    • If I was you I would go to a local Citizen Advice bureau, or you can go to the ombudsman and put in a claim, again CAB or a solicitor would be useful. you should get 15-30 mins free consultation with a solicitor, so make sure you have enough facts, questions, and write down his answers. . good luck
      chrissy

      Reply
  111. Barclaycard ..a few years ago did not want to know about my credit card protection policy re Sentinel..I WON IN THE END.. DO NOT GIVE UP.. KEEP BADGERING THEM We are still struggling since 5th July re TESCO BANK…I WILL NOT GIVE UP as they owe under section 75,,,Next step is the Ombudsman AAARGHH

    Reply
  112. I’m one of the ‘lucky’ ones. I submitted my claim using Martyn Lewis’ Section 75 template and also claimed, as per template, for accommodation that I’d had to book following the demise of the Palace. My claim was sent on 22 July, they acknowledged within a week, then asked for evidence of subsequent booking (sent this and copy of flight booking to show date!). They suggested that the hotel was in administration and might therefore re-open. My response was that once we’d been paid out for the unused weeks we wouldn’t have them to use in the unlike event that the hotel re-opened. Letter from Santander Zero dated 3 September saying ‘payment in full and final settlement’ would be made (this included consequential loss ie re-booking cost). Money is already back in the account!

    Maybe this gives some hope to those still struggling/yet to claim.

    Reply
    • Well done Sueann, I have also been successful, my money is apparently going into my account in the next few days. I didn’t use martin Lewis form tho, I just sent copies of my certificates & proof of purchase with a covering letter, after a few emails and a bit of waiting I got offered a settlement.

      Reply
  113. Rosemarie, I made a claim to Barclaycard using Section 75. I telephoned for a claim form and completed and sent back with copies of Contracts,and letters to both Administrator and Trustees. And explaining that I had no answer from either in the 30 days that I had stipulated. Barclaycard telephoned me very quickly following receipt of my claim. They said that they were not able to give me an answer as to if they would pay out because the MRP was only in Administration and did I know if it was going into Liquidation, ? Also that I may still be able to still use the apartment if someone else bought the Resort.
    I was not happy with this answer as the MRP was quite clearly in Breach of Contract, and this had occurred on the day the Hotel closed, and I was not able to book flights for my September week or be sure the resort would be open.They also said that all the credit card companies had to adhere to the same rules under section 75.
    I was not happy with this answer so I carried out a lot of research and on this blog, someone said they had been paid out by RBS for the MRP resort. I also read that the Financial Ombudsman had upheld a complaint ( not sure which c.c) and a Company had only been in Administration. So this could not be a reason for Barclaycard not to pay out. Two days later I rang BC again, and the same objection was raised. I told them that RBS had paid out and if they all used the same rules (which they told me they did) then there was no reason why I should not get my money back.I also quoted the Financial Ombudsman information.
    I asked that my claim be escalated to a complaint immediately, as I was unhappy with their answer and objections and was going to refer it to the Financial Ombudsman if I got no satisfaction. Someone from Complaints department returned my call within two hours. I still fought my corner, and they asked for another 24 hours to make further enquiries. 24 hours later I received the call and answer I wanted to hear, They made an offer that I accepted, based on the number of years still to run which amounted to 15 years. I also asked for a refund of the maintenance payment MRP accepted for this year, and this was added to my claim.
    From start to finish my claim took 22 days, and the refund was sent to my Bank.
    Don’t give up, did they give you a reason as to why they would not consider a section 75 claim .?

    Reply
  114. Today they Barclaycard say that will not pay as hotel in administration.I told them it would not be sold as any buyer has to take on their debts.

    I said I would take to financial ombudsman, and have sent letter today,
    My claim had already gone to complaints debt, I have already sent letters that I had tried to contact administrator
    This has been going on for 8weeks since my first letter to B/C
    Today’s letter came Northampton, but other letters had to be sent to Leicester.
    A name from you from who dealt with your case would help.Thank you for reply

    Reply
  115. Hi Rosemarie,

    My original claim form and the later complaint, and finally the offer all dealt with from Northampton.
    The Martin Lewis website gives info that ‘you can make a claim as soon as the Company goes into Administration -even if the service has not taken place (i.e. holiday week not used) under Anticipatory Breach.
    I claimed under Breach of Contract, which occurred on the 30th June 2015, and wrote this on my claim form. I also quoted to them that I had read on this blog that someone had been paid out under section 75, for the MRP (in administration) by RBS credit card. So why couldn’t BC, and that I felt I was not being treated fairly as if one pays out the rules must be the same for all credit card companies.
    There must be lots of administration telephone staff who deal with the complaints department, the name of yours will be on the letter.Did you ask BC for a letter of deadlock or have you just written to the Financial Ombudsman. The name of the person who dealt with my complaint was Nicola Reed. Hope this helps, can’t think how they can pay out for one person but not another, rules are rules.

    Reply
  116. Nationwide have refused my claim under section 75 for flexi weeks.
    Payment was made to Regency Palace by credit card letter of receipt was from Regency Hotels and Resorts.
    Nationwide say their contract is with Regency Palace only not a third party.
    Has anyone had this problem please.

    Reply
  117. Has anyone had problems with Nationwide . I sent off a claim 9 weeks ago and yesterday received a letter from them refusing to pay under Section 75. The reason given was the contract was with Regency Palace not Regency hotels and resorts as the letterhead stated Please can anyone let me know what is printed on your letterhead .

    Reply
  118. Dear Terry you may be aware Regency Club and Regency Cliff Hotels have not been part of the Regency Palace set up for some considerable time. The 2 above were seperated and are owned by the legit side of the organisation. Nationwide are dragging their heels but your breach of contract is still valid under section 75. They will wriggle but you must be persistent because you have suffered a loss. Good luck

    Reply
  119. Bill
    Thanks for the information I will keep trying.
    Nationwide reply was .
    Whilst I appreciate that you have a purchase receipt this does not allow me to establish a fundamental criteria under section 75,for example the Debtor-Creditor-Supplier agreement.
    Thank you

    Reply
  120. Hi Terry nationwide are not being very helpful or honest with us , your contract was with regency palace thats all that matters . The breach of contract was caused by them , it is up to nationwide to cover your losses under sect 75 . It is up to them to pursue the the recovery of losses from the scammers who caused you to be out of pocket by way of loss of holidays , time etc. They will wriggle to avoid paying anyone if allowed to, do not give in they will have to pay in the end . Their claims dept are encouraged to reject sect 75 because it costs them money, but its one of their obligation in law to be a card provider. Its tough on them but not your problem . Do not give up what ever you do , others are still after them to honour their obligation under english statute law. Good luck .

    Reply
  121. DO NOT GIVE UP. THE BANKS ARE SWINES TO PUT IT MILDLY! AS SOON AS I GET MY MONEY BACK I WILL POST AND IT IS ON ITS WAY. I REPEAT DO NOT GIVE UP MY BEST FRIEND IS A FINANCIAL CONSULTANT AND KNOWS ALL ABOUT THE F S A. WE ARE IN MADEIRA NOW. MRP LOOKS SOOOOO SAD AS THE GARDENS ARE NEARLLY DEAD THRU LACK OF WATERING. BUT EVERYTHING ELSE IS WONDERFUL AND YOU CAN HAVE A BANQUET FOR 15 EUROS A HEAD INCLUDING HALF A BOTTLE OF WINE EACH. THE SUN IS SHINING DAILY!! ps the hotel we are staying at is rubbish in comparison. But we did not want to lose our flight money. Any questions for Margie Dingwall.. We are meeting her on Monday!?…..

    Reply
  122. Hi shirley , glad to see you have salvaged something and the weather is good , I fly out next Sunday . All I would advise is be very careful in talking to anyone and mean anyone conected to regency palace both now and in the past . What may look a good deal could put your back in the same situation . Try the hotel escola , basic but excellent service and value for money , and suprise suprise. You only pay a small deposit and the balance when you leave .

    Reply
  123. Hi Terry,

    I have claimed and been paid out by Barclaycard recently, for remaining weeks left to run, on my Timeshare purchased from Madeira Regency Palace in 2003, plus the maintenance I paid for this apartment in advance for year 2015.

    My credit card deposit payment went to Madeira Regency palace (shown on merchant slip) and balance by cheque to Madeira Regency palace bank account, that was then held at HSBC Poultry & Princes In London. The Group have since changed banks many times, the results of which we know.

    The heading on my letter of confirmation all those years ago was still Regency Hotels and Resorts, as had the rules of occupancy. The Regency Hotels and Resorts group at the time of my purchase consisted of Madeira Regency Club, Madeira Regency palace and the Lisboa Regency Chiado in Portugal. Later the Regency Cliff was added, when it was built.
    I have an original brochure showing this connection. Also showing all the diverse types of businesses the Groupo Camacho as they called themselves had an interest in, seemingly a very powerful family of entrepreneurs.
    If the rules of section 75 are the same for all the credit card companies, if one pays out surely they all must. On this Blog alone RBS, Halifax Clarity /Lloyds banking group ,Natwest, Santander zero and Barclaycard ( although BC are refusing to pay others) have all paid out under section 75.
    Lastly, I recently received an email response from Orlando Carvalho (The Judicial Administrator) for the MRP which was in Portuguese, has anyone else had this.? I managed to get some sort of translation through Google. The message seems to be that Cunha,Santos & Camacho (who owned all the Regency Hotels) were declared Insolvent on 03/09/2015, and Timeshare Owners have to demand credit back through the next Court Hearing.

    Reply
  124. Terry, You are more than welcome. We have all been affected by the closure of the MRP, with loss of expected annual holidays, and loss of initial monies paid.

    If we can help one another, with any information we have, to get something back as a way of compensation, that will make us all feel that some justice has been done.

    Good Luck, keep posting.

    Reply
  125. Hi PC
    Would it be possible for you to give me your details (privately of course) so I can “use” you, for want of a better expression, as an example, as Barclaycard have just refused me because the Hotel is in Administration rather than liquidation, so no breach of contract has yet occurred (their words)
    My email address is ajb1605 at hotmail.com

    Reply
  126. Hi andy , the breach of contract occurred in our case when our bookings were refused well before the 30th june. No one has been able to use the regency since they shut the doors although people have still been turning up due to lack of info from the so called team . The administration as far as I can see was made in sept. The social security will get their money first as always if not in cash by way of selling properties 27 in all . We cannot use the time we paid for in advance by credit card as the place is not open for use which is a breach of contract

    Reply
  127. Hi Andy,

    I am happy to help on this blog, with any information I can, that may give ideas as to how to persuade BC to support other peoples section 75 claims. Not sure I want my name to be on the BC blacklist though.

    Have a read of the other posts I have made on here. 167,169,171,172,196 & 204. This is how my case was concluded, just by quoting other credit card companies who had already paid out for MRP in Administration. Plus information gleamed online from Martin Lewis website, and Financial Ombudsman information.

    Reply
  128. Hi PC (and all)
    Have just spoken to BC who are “holding back” until the receive word of the liquidation. They (kindly) say they are not refusing my claim!!!. just “holding back!”

    To that effect, as I’ve heard diddly-squat back from Orlando Carvalho, could I possibly ask you to forward me his email (with your details removed) so I can send it ro BC?

    Reply
  129. B/C have refused me again today, want proof from court that it will not reopen. Dealing with a Diane Ellis
    Says claim still open and doesn’t see how other people have been paid by them!!!

    Reply
    • I’m dealing with Dianne Ellis too, she said today they were having a meeting about Madeira claims but no payouts yet; but she herself escalated my claim to a complaint, will keep you advised

      Reply
  130. Hi Andy,

    Have sent you the email I received from Orlando Carvalho. It is of course in Portuguese. Am sure BC will be able to translate it. But actually under section 75, they should be the people who are doing the investigations, not the customers.

    Reply
  131. With regards to the many posts re The Regency Palace closure and subsequent losses for both time share and flexi club members, we have made a claim to our credit card provider which we used to pay the deposit (thank goodness we did) and have just received not only the deposit, but the the balance that we paid by direct bank transfer. Thie claim was made under section 75 of the UK consumer credit act. So in short this is the way to go if anyone has paid some or all the monies with a credit card. Good luck.

    Reply
  132. Just to keep people informed (as the string seems to have gone a bit quiet) I have had a letter from BC complaints, saying they will “resolve matters” (whatever that means) by 15th November.
    I rang them up to ask why I was being made to wait a further 6-7 weeks, and they said that’s an absolute worst case, they would hope to deal with things quicker but these things have to work on first come first served basis, and there’s a backlog.
    I will keep you informed.

    Reply
    • A follow up to your post Andy – I mailed off a claim to BC on 21st Sept, I then received a phone call from them as quickly as 25th Sept to say our initial deposit had been refunded to our Credit Card account as a ‘goodwill gesture’ but we wouldn’t be able to draw on it until the matter had been fully resolved. As for receiving a refund of the balance, this was being looked into and we could expect a resolution within the next 60 days; they were aware of the situation and each case was being treated on its own individual circumstances. Fingers crossed they’ll settle accordingly.

      Reply
  133. Hi Can anyone help me please. I bought my Madeira Regency Palace on 7th March 2004 paid by an Alliance & Leicester credit card. However, I do not have the credit card slip and do not know who the payment was made to. Can anyone suggest any names?

    Reply
    • Hi Susie

      If you ask Alliance & Leicester for statements of that date, that should give you the answer you need, you will also need copies of the statement to send to section 75 of your credit card. I think you will find though that it was just Madeira Regency Palace..
      I have been very lucky through LLoyds TSB, My brother & I bought the flexi club holidays, and we have had a proportion of our money back. I wish you good luck .
      Chrissy x

      Reply
  134. Hi Christine
    Thanks for your reply. MBNA issued my Alliance & Leicester Credit Card and I have asked them for the statements but they say they are unable to provide me with this information.

    Reply
    • Hi Susie

      I have found something else when looking through my files, so I hope this helps. It was a Payment order /credit transfer form they gave me.

      Banco Espirito Santo (Bank)

      Address: Estrada Monumental, 275, 9001-401, Funchal (which was MRP address)

      IBAN no: PT50 007 0389 0000 8860 01891 ( I think this is account number)

      Beneficiary’s Name: Cunha Santos & Camachos Turismo S.A.

      This is what I had to use to do a bank transfer, sorry about other info, I think banks don’t keep info passed 7 years. I really hope that this helps you and you can get some of your money back.
      good luck
      Chrissy x

      Reply
  135. Hi Susie,

    I purchased my timeshare in 2003, to run for 30 years. My deposit paid by cc was paid to Madeira Regency palace Ltd at HSBC bank Poultry & Princes Street, London. My Contract was with Madeira Regency Palace Ltd.

    Between 2003 and 2005 my maintenance payments were paid to Madeira Regency palace Ltd HSBC London bank, but in 2006 I had to pay Cunha Santos & Camachos-Condominios at the Millennium Bank BCP in Funchal. By 2008 payable to Cunha Santos & Camachos Turismo SA to Banco Esprito Santo in Funchal. My last payment in 2014 was made out to Cunha Santos, SA no bank slip detail shown.?

    To make a section 75 claim MBNA will ask for evidence of the amounts paid and to whom, and I believe cc card and Banks say they only hold details and statements for 7 or 9 years.? Do some online research and see whether it is possible to obtain all records they hold for you for a £10 fee ,maybe someone else posting here knows more.?

    I was issued with a folder with all my details and Contract, which I kept, if you have this it may give details of the Company you paid and the amounts. That may be a start.

    Good Luck in your search, maybe some of this information will help.

    Reply
  136. Hi Chrissy and PC
    Thank you so much for your helpful comments. I have, today, requested a Section 75 Claim Form from MNBA and also paid £10 to see if I can retrieve the credit card statements. I have found a Madeira Regency Palace Resort letter saying that they have received my final payment and a Membership Application which states the balance that had to be paid. I also have a letter from FNTC enclosing my Membership Certificate. Do you think this will be enough evidence?

    Reply
  137. Hi All
    I’ve just had a phone call from BC to not only offer me a full refund but give me £50 to apologise for having had to chase them.

    This was after telling me they would let me know the outcome by 15th November, so I’m doubly happy with them.

    If it gives others hope, I had bought 4 weeks in advance to be taken over the next ten (9) years, so if you’re in a similar boat, be encouraged.

    Thanks to all the group for the mutual support, especially PC who tipped the scales for me. Best of luck to you all.

    Andy

    Reply
  138. Hi Andy,

    So pleased to hear your good news, that BC finally came round to your way of thinking and gave you some extra compensation. Glad to have been able to be of assistance. The floodgates have now finally been opened, making it more difficult for them to refuse others refunds.

    Regards PC.

    Reply
  139. Hi All

    Am happy to let you know that we have received our money back from Tesco Credit Card and we received £25 for having to chase them so many times! Well done Andy for receiving £50… Am gutted! Seriously do not give up any of you who paid by credit card. To be fair to Tesco ,we had lost our merchant slip from 2011 but they found it in a few minutes when we telephoned them at the beginning of July. Just returned from Madeira and the area around MRP is looking very sad with shop closures etc and still half derelict buildings but the rest of it was beautiful and the Marina finished and the sun shone for 14 days without any rain at all in the day

    Reply
  140. Hi Terry & Brian M,

    I assume both of you are getting the reasons for non payment from Nationwide’s claims department. Have you asked them why they are unable to prove a link between debtor-creditor-supplier. Other credit card companies have been able to, as we have been paid out. On this Blog, RBS,Halifax Clarity/Lloyds banking group,Nat West,Santander Zero and Barclaycard all seem able to prove a link.? Nationwide should be contacting these cc companies to ask them on what grounds they have paid out.

    Ask them the question and tell them you don’t think you are being treated fairly, as the a breach of contract has occurred due to the MRP closing, and it was the MRP that you paid your money to.Under section 75 if the merchant has gone bust, you can only go to the credit card company for a refund.

    Give them a chance to answer this, and If they still refuse your claim, tell them you want the claim escalated to a complaint immediately,as you feel you are not being treated fairly, and that if they won’t accept your claim, you will take it to the Financial Ombudsman so they can make a decision. Financial Ombudsman is a free service . Get information from Money saving Expert, Martin Lewis’s website how to claim if you need to.

    Just be firm with them, best of luck.

    Reply
  141. Susie, you should be able to register for on-line statements of your credit cards, at the card issuer’s website, and simply print them off.
    I haven’t heard of a “Section 75 Claim form”, as you describe, but if your card issuer ‘MBNA’ has one, then use it. However a simple, but accurate letter, accompanied by statements, etc, should be enough for them to settle your claim.
    I had actually paid up front for 10 years usage at 2 weeks per year, including all maintenance fees – which seemed at the time a good deal, as we liked the Regency very much. I paid installments over a 3 month period, using two different credit cards, a debit card, and cheques, and my Section 75 claim was settled in full and promptly, so good luck with yours.

    Reply
  142. Anne, rather than try and answer you, without knowing your circumstances, I suggest you read carefully through this entire thread, which should give you a good picture of where you stand. Good luck

    Reply
  143. Still having problems with Halifax and Barclaycard, cannot get them to see that my timeshare is from 2005 and my Flexi weeks from 2010 both separate contracts both operational until 2023 .[ until place closed}
    Have given them this website to view
    Cant understand why some people are getting paid and others not , my claims went in on july 7th.with all correct paperwork
    It takes so long to get through on phone to right person and they don’t return calls.

    Reply
    • Hi Rosemarie

      Make sure you copy all your documents and send them( signed for) and email the CEO of each company letting them know about your unresolved problem and don’t give up! I did this and did not speak to just anyone on the phone and always got their name.. Complaints department or CEO department usually works. Good luck

      Reply
    • Hi had the same issues with nationwide and went to complaints dept, now had an offer of settlement plus awaiting compensation. I share your frustration but keep going it is your right to be paid out

      Reply
      • I agree with Chrissy, I’d definately separate the claims – they seem to be addressing the flexi-weeks claims quicker than the timeshare ones, at least I get that impression.

        Reply
  144. Hi all,
    I made a claim to Barclaycard on September 17th with back-up documentation, had a couple of phone calls and a few more bits of back-up; made me an offer yesterday very close to the amount I was asking for. Well done Barclaycard !!
    I made a claim to Halifax on 14th September, received a letter on 5th October saying that as I had not replied to their invisible letters they were closing the claim. Telephoned and was asked to e-mail to LLoyds Banking Disputes and the claim was reopened. Had a phone call today from Halifax to say that they were trying to establish whether MRP was in liquidation or administration – I pointed out that many cc companies were already paying out but they said it would probably be another 14 days before all was sorted !! Could do much better !!
    Good luck if you are still trying, keep at it.

    Reply
  145. I am very sorry for the members-including myself-I have not visited for about five years. hence my time share hols have been on hold. Further to this what happens to our funds -those of us who made annual payments to Camacho- we sacrifice our own pleasures to help him with the running costs and he was just funding a luxurious lifestyle. No one has accepted the responsibility our to be accountable for the moneys the borrowed from us!! I hope he rot in hell.

    Reply
    • Sadly he is not rotting in hell. The Millennium Bank is aiding and abetting his criminal activities by allowing him to buy back the Regency Club at a discount . He has already bought back the boat via a third party at a discount. With his connections with the President and Court Administrated his fraudulent activities at the Palace have not been formally investigated by the Police. He is not serving his prison sentence for defrauding the Government. In fact he is doing alright. Crime definitely pays in Portugal and its sad to see Madeira becoming corrupt and being run by criminals.

      Reply
  146. Hi, I agree with the suggestion to escalate claims to complaint. As soon as my cc Company questioned the validity of my claim I asked for it to be escalated to a complaint immediately. Within 48 hours an offer was made.

    Reply
  147. Interesting information from Peter, regarding Camacho and the way he has been able to get away with his fraudulent activities, and still enjoying a comfortable lifestyle.

    No prison sentence, no police investigation regarding the MRP, and being able to re acquire his yacht, and the Regency Club, at a discount. The Camacho’s are obviously a very influential family in Madeira, and as such are linked to people at high levels, so will be untouchable.

    If he does purchase the Regency Club, I wonder what will happen to the existing timeshare owners there. Presumably as they were still able to go to the resort while the Millennium bank were in administration they will not have been able to claim back their money under section 75, as we were at the MRP.

    Such a beautiful island spoilt by corruption.

    Reply
  148. We claimed for unused flexi-weeks from Nationwide under Section 75 on 12 August. Everything then went quiet for a while until they made their offer, which we have accepted, on September 30th.
    We simply have to contact them if we are offered any sort of compensation by the hotel in the future, which seems extremely unlikely.
    Thanks to this forum for useful discussion and Good Luck to you all.

    Reply
  149. Money received from BC!!! they asked me if I’d like it into my bank account – I said yes, so they put it on my credit card!!! Gotta love them.
    I hope at least most of you are having similar success.

    Reply
  150. I have been assuming that having had my timeshare at MRP for over twelve years, and having made my annual payments by bank-transfer, I have little chance of recovering anything. Has anyone found otherwise?

    Reply
    • Hi Peter
      I hope you have cancelled your transfers now. Also from what I understand and have read on here, if you have made any payments by your credit card, I.e deposit, then you should be allowed to claim under section 75 from your provider I.e bank.
      If you send them copies of your statemenys and proof of purchase, you might be within a chance!!! If you have also purchased flexi weeks, put in a separate claim for these. I understand that people have been having problems when they send the two together.
      I hope this helps, and I wish you good luck
      Chrissy

      Reply
  151. Submitted claim to Barclaycard on 5th October with all the usual documents provided some additional information on 20th and received letter accepting my claim today i.e. 23 days with no hassle whatsoever.in fact they have been most helpful throughout, so I assume everyone should have success as long as deposit was paid with credit card. Ours in fact was made with an Egg credit card which was subsequently taken over by Barclaycard.

    Reply
  152. I have been promised refund by Halifax for Flexi weeks
    Still no action from MBNA and Barclaycard on 2 separate timeshares, they say they want a reply from administrator,a though I see others have been repaid by Barclaycard, Claim was put in on 7 July
    I have now sent the details to Ombudsman

    Reply
  153. Rosemarie, sorry to hear that Barclaycard are still dragging their heels with regard to some peoples claims.

    Myself and others have been paid out by Barclaycard. I can only assume their different departments are not passing on relevant facts, that would give them the information they say they need to enable them to pay up.

    The Financial Ombudsman’s job is to ensure that customers are treated fairly by financial organisations and hopefully the case will be settled in your favour.

    Good Luck .PC.

    Reply
  154. Hi All,
    Just received full payment from Barclaycard AND Halifax into my bank account. Perseverance has paid off.
    If at first you don’t succeed, do not give up !!
    Good luck !!

    Reply
    • Hi Shirley

      We always used a credit card but not always the same one when we upgraded or bought flexi weeks but I am certain I have not used it to the extent of this amount.

      Reply
  155. Hello David

    Try to find all of your merchant transactions and send them off together with all the agreements. Good luck. I was with Tesco bank and they did pay out and also found my lost merchant transaction from 2011

    Reply
  156. Hi- I wanted to leave a comment as it was this thread which prompted me to encourage my parents to claim under section 75. Also the advice on Martin Lewis website was really helpful:
    http://www.moneysavingexpert.com/shopping/section75-protect-your-purchases
    The important point is that if you have paid any small amount of the deposit on your credit card then you are covered for the full amount of what you have paid out. They have been successful in getting the full amount of what they were owed (by the hotel for unused weeks) back from two different credit card companies (Post Office and Nat West). Their case was slightly more complicated because they had used some remaining weeks from the first purchase to buy more on the second purchase- but they’ve still managed to claim back money for all the remaining weeks they had not used (over £6,000 worth).

    I’m so relieved for them! I hope others are successful in claiming too. The corruption of the company who sold them the flexi weeks is disgraceful. Thank goodness for Section 75! 🙂

    Reply
  157. We successfully claimed from our bank using ‘claimback’ because we used a debit card to purchase our flexi-weeks.. We sent as much information as possible including the letter sent to court administrator in Portuguese and English (used Google translate) and the court’s reply. We used the terms ‘breach of contract’ and ‘suspected fraud.’ on the claim form.

    The bank were excellent and credited the account within three weeks.

    Reply
  158. Hi all,

    Once you have all been paid out after this fiasco, will everyone still be travelling to Madeira for holidays.

    We love the island and the people and have missed our holidays this year at the MRP. Although the resort was becoming a bit tired it was a friendly familiar place to stay. Can anyone recommend an alternative good resort where we can book to stay next year.?

    Would appreciate any views you have.

    Regards PC.

    Reply
    • I’ve booked for June at the Cliff Bay. It’s a bit upmarket from the MRP, and more expensive, (sister to Reid’s Palace) but it has a lot of what MRP had, it even looks remarkably similar, with the benefit of being that much closer to town.

      We’ll still jump on the bus and have a dinner at Espettus, though – they must have been hit by the closure too! And we’ll be in town for the fireworks, looking forward to it already.

      Good luck to those of you still fighting the good fight.

      Reply
  159. Andy, can I correct you re Cliff Bay, it is not a sister to Belmont Reids, it is close by but it is part of the very good Porto Bay group. You have chosen an excellent hotel.I am sure you will have a great stay

    Reply
    • Yes Joanne, you’re quite right, of course.
      I realised as soon as I posted – what I should have said was that it was designed by the same architect (I believe) in a quite similar design, and sits on pretty much the same promentary.
      I’ve been looking at a few of the Porto Bay hotels since we booked, and they will certainly be contenders when we return again with a slightly smaller budget. (i.e. not armed with our MRP refund!)

      Reply
    • I recommend you all move to the Porta Mare where you will realise how out of date and poor value the MRP was.
      Having had timeshare at both, the Residence is a clear winner.
      Yes, more expensive but well worth the extra.
      You have full use of all the Porta Bay group hotels’ facilities even the ability to swop to Lisbon, Brasil and into Funchal town or the golf resort in the hills.
      No grubby carpet or scuffed walls. WI FI in rooms and sunny balconies for just about all the rooms.
      Sorry for those who have lost out. Madeira is still a beautiful island with lots to offer.
      D

      Reply
  160. Yes agree with lots of comments as to where to stay. We only got a flat rate of money back and could not afford to stay at the Cliff Bay or anything like it! We did visit for a drink with friends however and it was fabulous. We stayed at Duos Torres and it was fine and we visited all of the restaurants that we knew were good and Yes Espetuss and Dragoniera were the top of our list, Agree with comments re MRP. The towels got thinner and the rooms needed a refit and no Wi Fi in the rooms… Which we got at Duas Torres and we were near the Forum and had a bus stop outside. So all was very good and excellent value but we did not eat in there as so many good value restaurants opposite in walking distance p S do not give up any of you who have not had a refund yet!

    Reply
  161. Hi,

    Thanks for some input re possible resorts to use next year.
    Looking to book somewhere for June 2016 as like to be there for the firework displays.

    Food for thought now and will be booking this weekend.

    PC.

    Reply
  162. Hi to everyone. Been reading this Blog with great interest.
    My partner and I were going to the MRP in June this year and were notified that we could not go! We had obviously paid for our flights on a credit card and were told that we could not claim from our travel insurance or from the credit card company. The cc company said they could not claim it from the airline as it was not their fault that MRP had gone into liquidation? Is that correct does anyone know? Also what is point of fully comp travel insurance if it doesn’t cover you if hotel goes bust. Said we should have had extra cover to cover this eventuality! Seems you can’t win!!!

    Reply
  163. Hi Pat,

    Most of us folk who are on this blog were either timeshare members or flexi week members at the Madeira Regency Palace, and like yourself would book our flights annually to use our weeks at the MRP.

    You don’t say if you were members at the MRP or whether you booked independently the Hotel and flight.

    If you were timeshare members and paid for the deposit for your membership by credit card, then you could be eligible to claim back the whole cost of the membership from your CC company under section 75, plus they may add on the flight costs as you were unable to go.

    The way forward is to claim for your timeshare membership if you are eligible under Breach of Contract, which has stopped you from being able to continue with the Contract that was made, and use your week in June.

    Good Luck. PC

    Reply
    • Hi Everyone
      Just to say a big thank you to everyone, especially PC, who gave me the confidence to submit a claim to MBNA. I bought my timeshare at the MRP in April 2004. I sent off all the details on 20th October and today I have received my settlement. All I can say to everyone still trying is to keep going and read all the comments and advice on this site and I am sure eventually you will be successful.
      Best wishes
      Susie

      Reply
  164. Hi,
    Glad to see that Chris G has managed to get a reply from the court administrator. I have been trying to contact them but letters get returned. Does anyone have the correct address for them as the one I have is clearly not right.
    Thanks,

    Reply
    • This is what did it for me – hope it helps – translation at the bottom

      Exmos. Senhores.

      Assunto: Insolvência de Pessoa Coletiva Cunha Santos & Camacho; Proc. N.º 439/15.7T8FNC do Tribunal de Comarca da Madeira, Funchal-Inst. Central- Sec. Comércio-J1

      Exmo. Senhor,

      Na qualidade de Administrador de Insolvência da empresa supra identificada, sou a prestar a seguinte informação:

      A Cunha Santos & Camachos – Turismo, S.A., foi declarada insolvente por sentença datada de 09-03-2015, cujo processo corre termos na Comarca da Madeira, Funchal – Inst. Central – Sec.Comércio – J1 de Funchal;
      O prazo para efetuar as reclamações de créditos terminou no dia 20 de Abril de 2015.

      Face ao exposto, e na eventualidade do contrato de time-sharing ter sido celebrado com a empresa Cunha Santos & Camacho – Turismo, S.A., os créditos deverão ser reclamados através de verificação ulterior junto do tribunal.

      Google translation
      Dear Sirs. Ladies.

      Subject: Insolvency of Person Collective Cunha Santos freehold Camacho; Proc. No. 439/15.7T8FNC the United States District Court for the Wood, Funchal-Inst . Central- Sec. Trade-J1

      Sir, as Administrator

      of the Insolvency of the firm above identified, I provide the following information:

      The Cunha Santos freehold Camachos – Turismo, S.A. , was declared insolvent by a judgment dated 09-03-2015, whose proceedings are terms in the District of Madeira, Funchal – Inst. Central – Sec.Comercio – J1 of Funchal;
      The deadline for making claims ended the day April 20, 2015.

      In view of the above, and in the event of the contract time-sharing have been concluded with the company Cunha Santos freehold Camacho – Turismo, S.A. , credits are to be claimed through subsequent verification by the court.

      Reply
  165. We purchased timeshare at the Madeira Regency Palace off plan in 1999 for a one bed apartment, changing to a two bed apartment in 2001, the purchase for was occupation to 2031. Both transactions were paid by credit card for the deposit and the balance paid by cheque to HSBC in London. Incidentally the paying in slip provided was to the account of Regency Services Ltd and the slip is headed Midland Bank Ltd. Looking back at the maintenance fees payments over the years, 2001/5 the payment was made to Madeira Regency Palace Ltd, in 2006/7 payments were made to Cunha Santos & Camachos and in 2008 onwards to Cunha Santos & Camachos Turismo, SA.
    Clearly with the closure of the MRP and Cunha Santos & Camachos Turismo, SA been declared insolvent, we have suffered a loss, but I was under the impression that to claim under section 75, that the purchase had to be made not less than six years ago.
    I have recently discovered this blog and reading through the comments I am encouraged by some successes, as it appears that some claims under section 75 have been settled for purchases back in 2002.

    Reply
  166. Om någon vet vad som händer med MRP var snäll meddela oss vart vi skall vända oss angående vår timeshare.

    Admin: the Swedish translates as: If anyone knows what happens with MRP please let us know where we should turn us regarding our timeshare.

    Reply
  167. Hello Keith T,
    Like you, we bought off plan in 1998, upgraded later and finished up with a 2 bed apartment. Like you, we paid deposit by credit card on ,at least 3 occasions and have recently received payment covering the ongoing period when we will be unable to use out timeshare, namely 26 weeks.
    The payment was very close to the amount we claimed so we are happy.
    The 6 years you mention commenced on July 1st 2015 when the MRP was closed down. Use Section 75 of the Consumer Credit Act and claim from your credit card company; we did and it works !!
    Good luck !!

    Reply
  168. Hello Magnus,

    The MRP closed on 30th June 2015, and at this point a ‘Breach of Contract’ occurred for all us Timeshare Owners, Flexi weeks etc. etc.

    If when you purchased your timeshare you paid part of the payment for at least 100GBP with your credit card, you can go to your credit card company and request a refund for whatever time is left to run on your agreement with the MRP.

    If this is the case, contact your credit card company and ask them for a form to reclaim under section 75. They will want proof of payment and contract details and anything you have to uphold your case, that you return with the completed form.

    Most of us posting on this blog are from the UK, and many of us have been successful in our claims. Everyone who has been affected by this closure should be recompensed and hopefully if your circumstances meet the section 75 requirements you could too.

    Sorry I can’t reply in Swedish but you should be able to get a translation on this.

    Good Luck, PC.