Five owners of timeshare properties in Tenerife have launched a legal challenge in the High Court against HSBC plc for over £200,000, which they allege is missing.
All five owners are members of Club Olympus at Garden City, Playa De Las Americas, Tenerife. They allege that the bank had acted in breach of mandate by allowing a former agent to withdraw £204,000 from their bank account.
The claimants are suing HSBC for £204,000, as well as damages for breach of contract. They are also seeking a High Court ruling that the bank had been wrong to debit their account in breach of the mandate.
PLS News 09/01/02
