Trampolin Hills administration update
19 November 2009 @ 18:46
A number of news sources are reporting this morning on comments made by Antonio Guillen, a lawyer acting for British and Irish purchasers of the Trampolin Hills development in Murcia, which was forced into bankruptcy earlier this month.
Guillen believes that the task of recouping the investments made by overseas property buyers, who purchased hundreds of off-plan units on the resort, has been complicated by “irregularaties” which suggest sales were made without adequate building and planning permits.
“Trampolin Hills has recently become known for the irregularities in its residential development in the area of Campos del Río, Murcia, especially since it appears that the company started to sell off-plan units without having all the necessary permits in place” says Guillen.
Even more concerning for investors is the suggestion that a bank guarantee was not in place despite it being required under Spanish law. According to Spanish news website Typically Spanish, the developer has just been fined €350,000 by the regional government for not presenting one.
The owners of the Trampolin Hills Golf Resort are named as Antonio Martínez González and Rafael Agiulera Serna. They face fraud charges and have currently been set bail at €30 million, an amount they are appealing.
Source: GlobalEdge.co.uk
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