Update from our lawyer

Hello everyone

I have just received the email below from our lawyer.  I thought people might be interested in seeing this, as it is the first I have read about the date of 15 July.  Does anybody plan to challenge the decision?

No doubt we will hear whether the decision has been challenged just before everybody goes on holiday in August.......

Best wishes to all.

Sue

"I am writing to you in order to inform you that there has been a decision taken which agrees the judicial approval of the proposed agreement from Herrada del Tollo, and the vote has been as follows:

- Creditors who voted against the agreement which credits amount 9,247,765.91 Euros, and that represent a 12.96 % regarding the total balance of credits (71,333,219.63 Euros)
- Creditors who voted in favour which credits amount 37,483,295.76 Euros, and that represent a 52.55% regarding the total balance of credits (71,333,219.63 Euros) and therefore, is higher than half of the liabilities.

For that reason the agreement is judicially approved, although not yet a final judjment as it can be contested up to the 15th of July. Please confirm if you would like the lawyer to challenge the decision. If so, please let us know before the 13th of July so she has time enough to prepare it.

If you do not want to challenge the judjment, then we will send you the term and way of payment regarding your credits that has been approved by the Court.

Looking forward to hearing from you.
Kind regards,"

Hi Sue,

               many thanks for you keeping us updated, its really usefull to know the latest, as weve heard nothing from our legal people in for many weeks. 

               Best wishes to you and John.

Regards

 Ken & Philomena

Hi Sue

Hope you are well.  Thank you for posting this information it is much appreciated.

Regards Chrissie1

Hi Sue, Many thanks for sharing your Lawyers email. My Lawyer had emailed to say HdT had received 52.5% in favour of the proposal, but no mention of a challenge!

Hope you and John are well, and congratulations on the new addition to the family, she`s lovely. Cheers Joanniemac

Maths may not be my strong point but what happened with the rest of the votes?  It doesn't add to 100% or the total balance of credits......

Good point, however it does add upto 65% which is what they want to pay us back. Maybe its HdT`s  lucky number ! Cheers Joanniemac

They did say that if you didn't vote it would count as a "No" vote, so maybe those were people who specifically voted against?!

Thank you everybody for your comments.  Suddenly the forum has become the lovely, friendly place it used to be!

We are all well (including Lisa our dog) and looking forward to Sunday.  We will be enjoying "Música entre Vinos" in Bodegas Lúzon at 1pm, depending on when that finishes we may catch the end of the Tour de France on Spanish TV when we get back home, and of course watching Spain in the final of the World Cup at 8.30 pm (Spanish time).  Hopefully we will then be joining in the celebrations!

Next month of course there will be even more celebrations in Jumilla with the Vendimia.  Hope that some of you will make it and we can meet up for a glass of vino tinto.

Best wishes to all.

Sue

Hi Sue,

It is nice that we have polite dialogue taking place, my best wishes to you and all of the pleasant posters. Regarding the vote, I have had communication concerning the purchaser's yes vote and that some not being counted due to the solicitor using the POA to vote no. From what we have been told the judge asked the relevant legal reps to clarify the anomalies and as he did not get clarification he voided those votes. There are some purchasers who are not very happy about this, which I think is very understandable.

I am over late July and I will try to meet up with you both so we can have a cold  drink and a pleasant chat.

All the best to you both.

Tony R17 18

This message was last edited by TonyMal on 10/07/2010.