Interval Resorts Network Private Limited
12 Aug
2015
Company Alert – Interval Resorts Network Private Limited
Company Alert – Interval Resorts Network Private Limited
 

From April 2013 to April 2015, the Consumers Association of Singapore (“CASE”) received 30 complaints (filed and assisted cases only) against Interval Resorts Network Private Limited (“Interval Resorts”).

Based on the consumers complaints received, consumers were made representations by various Interval Resorts’s employees/agents that they would be able to recover monies paid for previous timeshares. The unfair practices complained by consumers also include misleading claims, false claims and exerting undue pressure on consumers to enter into an agreement with Interval Resorts.

Based on a business profile search conducted by CASE on 23 April 2015, Interval Resorts is owned by the shareholder, Mr. Dennis Bond. Consumers should note that in the event that they succeed in obtaining judgment against a private limited entity, subject to certain exceptions, in most situations, the company liability is limited to only its paid-up capital and hence, consumers are urged to exercise caution when dealing with a lowly capitalised company.

CASE understands that consumers of Interval Resorts may have received telephone calls from representatives of Icon Solutions; International Timeshare Fund Action; Realty Access purporting to assist consumers to recover monies previously paid to Interval Resorts. Consumers should note that Icon Solutions; International Timeshare Fund Action; Realty Access are listed on the Monetary Authority of Singapore’s (MAS) Investor Alert List and are not regulated by the MAS. Consumers seeking financial services are strongly encouraged to deal with persons that are regulated by MAS.

Consumers are also urged to perform the necessary diligence before entering into a timeshare / termination of timeshare contracts.

For further advice on timeshare investments, please visit: https://www.case.org.sg/consumer_guides.aspx.

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