Doesnt matter whether or not you are a member of the club. Speeding in the wet is bad enough for anyone. Speeding in the wet and losing traction, is stupid. Doing all that in front of the police, entitles you to loose your car - no questions asked.
Im probably not in the right position to say this (as i am not a member), but perhaps that member should loose his membership or something. No refunds or anything. Providing, as The Baron has said, that the guy is indeed a member and didnt just buy the car off someone who was a member of the club.
Take care out there guys, it has been pretty wet the last couple of days, we dont want to see anyone getting hurt or killed.