How Much Longer

Just a quick question (this may have already been asked), does any body have an idea how much longer this process of admistration can drag on for before there is a conclusion one way or the other, don't know about everyone else but i don't want to wait another year. Surely they can't drag this out for much longer, either it is viable (foreign backers, Gordon Brown) or its not going anywhere.

Mark

Glendale,

                      Like yourself  we and lots of  others are waiting and wondering what / when the next stage will be. The frustrating part for us is not being kept informed.

I have asked my Spanish legal representative but am still no better informed. However I understand it goes something like this.

The 09th of January was a date when any objections to the administrators publication had to be lodged at the courthouse. Within three months from that date 09th Jan. the judge will preside over a formal meeting consisting of Administrators /  San Jose & HDT  legal representatives for the various creditors. Therefore it could  be April before any official decision is reached.

How long after that when we each get to know what the next stage is and how long it may take to get monies back or houses built , well only time will tell. Sorry this doesnt help very much. 

Regards

Ken & Philomena

"How long after that when we each get to know what the next stage is and how long it may take to get monies back or houses built , well only time will tell." Also it will depend on what stalling method the trading company can use to prevent determination.
Yes M'Lud, I need another 2 months as we have an investor lined up.

Years !

3 to 5 if they've capped it.

Good lord above, as long as that

I remeber saying 6 months ago that the housing industry in Spain is archaic...............the whole damn country is archaic, and bent as a nine euro note.

Does anyone really want a house there anymore under this type of regime?????

Its ridicolous..............

Hope my experience with San Jose administration is going to be quicker than that or it will be worth paying the bloody crooks to just bugger off and leave me alone.

Briando

That's what they rely on.  It seems a bit like a game of chicken...............both sides holding out, waiting for the other to chicken out and back down.  A game of nerve rather than any skill or integrity (on their part)

tracey

The worst part will be when the judge votes in favour of the creditors and the very next thing that always happens is the company places an appeal, taking even longer.  And guess where the money comes from to pay for this, yes, out of the creditors already diminishing pot.

The law needs to be forceably changed by the European Supreme Court to stop this.  Wars were fought for less.

So basically, this could drag on and on with out any cut off point, why after what is nearly a year they can't make a decision is beyond me. Surely it makes sense to say to San Jose get your backing in place by a certain date, if not you are no longer viable as a company, maybe a bit simplistic bit a least there would be an end to it.

Although i know many people have said it, with this forum at least we can exchange ideas views etc, apart from updates from our solicitor, this is the only place to keep abreast of the news, we get bugger all from the communicative San Jose!

Mark

I think we need to see ourselves as pests that become an irritant to all those on the legal side until they finally break.  Its the only way.  They will soon get the message.

If we all continue to ask questions, either by email or phone, and continue the pressure we will get there in the end.  The problem with all of this is we are in our own  vacuum as this has been going on for years, but you only find out when you are personally involved.

At least now the MEPs are more aware as is the European Union. But we still need to apply more pressure.  The activities that have taken place here are criminal, the developers have not abided by the law, and the law seems to have turned a blind eye.

There should be mechanisms in place that as soon as the first Bank Guarantee fails to reach a purchaser an alert is triggered.  This is a failure of the developer, the legal system and its government not to mention the agencies who could have withheld the money.

What is really needed from our point of view is a central point were all purchasers and creditors can voice their anger, including the Spanish, as they are as much involved as other European.

Keep on fighting, don't let it get to you, just keep poking that stick, as every little helps I'm sure.

Redman and everyone who reads with a like minded approach

I have a problem in that we have some scared people who want to keep saying 'we want our house', which to my mind keeps the whole thing in limbo.  Its hard to see what this can achieve other than keeping the administration going and the pot emptying.

I am going to ask my solicitor if there is a different way of attacking the problem, like in the UK we have winding up orders which are simple and effective.  If the voluntary admin is finishing i am ready to say sod the appeals and the waiting, does anyone want to join forces and go for a winding up order to get rid of these builders?

We could forma website cheaply and find out how many people are interested................recruit at 100 euoro's each and put it with a chosen lawyer with a chosen plan to go in there and drop some bombs and find out some facts.......and wind the beggars up

Anyone interested?

Brian,

Think this is a wonderful idea and more than willing to offer assistance with 100 euro let them know we are not going away.

Arlene

I think to start with, a fresh request to our current legal reps for new information.  After all the 9th Jan has come and gone with only speculation as to what happens next.

I'm all for joining forces, but have paid a couple of thousand in legal fees already and expect something for that.  Many including my solicitor already have class actions in place.  I also don't know if Spain has the same winding up procedures as the UK.

I say lets push with those we have over the next few days and bombard them.  There's no excuse for such a drawnout process, no matter what historic presedence has taken place.  Then make a more informed decision.

Do they have baliffs in Spain.  Perhaps we should introduce this to their system.

Hi Redman,

As always a nice measured response and while I agree with the sentiments our solicitor who is very very good at keeping us informed has already given us such information as is available and only sends an update when any thing new develops.

At the start when we first engaged him for litagation he gave me a timescale which he thought was realistic and so far he appears to be on target so have not been expecting a quick fix, however what I did not anticipate was that the administrators would not be impartial to both sides and appear to blind to the needs of purchasers who put their money down and got nothing but lies in return.

Like the rest  we have been paying for legal costs but firmly believe that my solicitor is doing all he can but he can only work within the archaric and corrupt system of law that is in place here in spain and used by the developers to delay and delay at our expense both financial and emotional, so perhaps it is time to be a little bit more proactive maybe too little too late but hell it will show that we are not going down without a fight.

Regards

Arlene

Yes Redman

A good measured response thanks, and thanks Arlene for your input and PM.......i think this may gather momentum so lets keep this thread for this kind of activity.

Redman..................maybe if we work on a letter or request, which is agreed by us and says or asks what we want it to.........and lets all send it to our own solicitors with the added information we are doing this en masse.

Maybe then by using our own solicitors, but in a collective manner, we can voice our disdain at the system we are up against and bring pressure to bear through them on the admin and legal system?  Maybe even as a pre-cursor to taking further action through a different solicitor etc?

It wouldnt do any harm to state we are looking into the winding up procedures in UK law and European equivalents to find out where we stand with that eh?

what do you think?

Brian

Hi to everyone.

Thank you for some very positive, helpful posts.  Why not see if Justin can set up a poll, so we know how many people on the forum want their money back, which may prove helpful if you are starting a campaign?  Unfortunately our solicitor is not very good at answering our queries, and is never there when we try phoning, so any information on possible timescales, including what steps are likely to occur, would be very helpful.  Also, an outline of what to say would be a good idea. 

It might be worth seeing what Justin can provide on this website.  Apologies to Justin for mentioning this, but if he doesn't have any webspace available, Spainserve do provide free webspace for users.  I would suggest contacting Justin first, then if he can't help, asking if he will provide a link as he does for SARC (Can't imagine him objecting!)  After that, contact Dean on Spainserve about using webspace there, and finally put the link on this forum.  What do you think?

Sue

Briando,

Lets start digging and see what we can find.  I'm beginning to feel if this drags on too long all the money will be eaten away by administration and legal fees.

What we need is the hammer of central government forces to come down on the legal shortcomings and ongoings that have remained hidden during the good times and now bearing fruit.  Lets not forget there was no economic downturn when they first stopped issuing bank guarantees.

Suemac, Hi. 

I suppose a poll is all well and good, but I think there are those who have already made up their mind which way they fall and even if I was the only one who wanted their money back, my approach would be the same.  I've always based my decisions on circumstances and information (hopefully factual) and would never say what your decision should be, only that you are aware of the facts.  Mine is simple, this company has acted illegally, even tried to move 500 thousand euros worth of property days before administration showing their true colours.  I also already have another property in Spain, so I have a mortgage I should need because of SJ.  Hence, my decision is easy.

Best regards to all,

Hi Redman

I hear what your saying and agree, but i do think it needs a champion in the shape of a collective or a letter of intent, something like that.

I think doing digging individualy is god for research, but it needs a common goal or vehicle to feed into, i think.

Lets not be under any illusion here, despite anything you hear to the contrary, the vast majority of people are wanting out of this mess.  Also the longer it drags the more people get used to the fact they have lost money, and just give up on it.

I am going to put a letter together, which will be ready over the weekend, and anyone who wants a copy to comment on and make any suggested amendments to.....................ask me over the weekend and you can have one with pleaseure.

Anyone who knows anyone.........who may be interested...........drop them a pm for this thread or to myself.

In the meantime Suemac and Arlene..............any website suggestions for next week will be good............im sure there are loads of people out there just giving up

Lets find them, galvanise something and get the solicitors, builders, administrators all shook up and ask some damn awkward questions...........?

Shall we?

Hi to each, what an absolute pleasure it is to read these postings.  I had started to list a number of questions for my Lawyer (based on the recent postings) but would probably miss some points that collectively gathered, would be far better written.  I would love to receive a template letter Brian.  Cant thank you guys/ladies enough for raising my spirits today that so many of us are not going to  be give up our battle.  Just like SARC fighting for someone to re-finance them, we can and must fight  for our Legal rights to sue for not only breaching our Contracts but breaking the law.

I also have a dilema and would welcome thoughts.  They are trying to find me an alternative property at the original contract price of E148,000 from my transfer in May 08 (which they couldnt complete) and is with SJ.  The properties,  like for like,  are now on the market for 126 furnished/shutters/gardens done etc.   They cannot/will not renegotiate.  Would anyone take this as a get out???  I dont have a BG like the majority of us but dont want to get stiched up again by these crooks.  I wasnt going to post this much info but feel I need to talk about it. Pm or post, I really dont mind as I have nothing to hide and we have some good, honest and kind people on this Forum. 

Ive signed all the petitiions I can and would definately be in on joining /contributing a 100euros to assist anyway that would help to fight these people if that is what we all decide after we have heard back from our Legals.

Sal

Hi Sal

I have a few questions, which I obviously don't expect you to answer on a public forum, but which immediately come to mind.

1.  Do you have the cash (rather than a mortgage) to pay the balance on the new property? 

2.  If so, would it be better to write off your original deposit (don't know what % you paid of course) and use the cash to buy something else, key ready and legal, at today's prices?  You may find better value for money inland, too.

3.  Do you really like what you are being offered, and would you be happy to live there?  If not, why would you want to accept?

4.  Would it help you if you had closure?  I think that is an important question, as many people feel as if they are living in a nightmare which shows no sign of ending.  This might not be a good deal financially, but if it gives you peace of mind, it could be worth considering.

Best of luck, whatever you decide.

Sue