Tony and SARCs views on recent thread??

After the recent revelations/quotes/threads, would just like to know Tony/SARCs opinions/views as to whether they would still proceed with their purchase or request money refund if, the recent thread suggests, all purchasers?? are entitled to their money back? bank guarantee or not!!

your views please?

Looks like you may have silenced SARC Jaqib! 

It could be that the SARC spokesman has defected to Greece.

Or maybe is waiting to be told what to say, before letting us know we are wasting our time and money.  Perhaps thay will be sending a questionnaire round to give everyone options about how to move forward?

The suspense is too great for me......im off to lie down in a darkened room

My solicitor feels the best outcome is for HDT to obtain the finance/planning permission and for those who want a refund  will get 65% as agreed, not positive news but his honest view.

He is not recommending the SGR approach (cost, risks and timescale) but as indivduals you need to make up your own mind !

Wish it was more positive.

Sorry to have to say it RJM, although many must realise it by now.

There isnt a chance that the 65% will ever be paid back to us, and there isnt a chance that the sites will ever be built in the way anyone expects them to be.

The facts are that the builder has come out of administration, where they hibernated and hid behind the legal system.  When they come out into the real world again, they will have to deliver their promises, without ongoing custom, without the ability to write suitable contracts and without the ability to comply with the law in terms of bank guarantees.  There is no depth in thinking that the problem can be solved by talking up the situation, or by waiting for the builder to deliver the goods.

If there is any capital to be had from the builder, it is better taken by legal means than by following the blind faith we have to hang on to now.  It just isnt going anywhere RJM.  Sorry to have to say it but there are no properties going to be supplied to the investors and there is no deposits coming back in 4 or 5 years, that money will be eaten away by leaving it with the builder to carry on, trying to do what they couldnt do when times were good.

The biggest issue we have, is how to get our money back without lining any more pockets in Spain.  I want my money back and am sick of lies and deceipt.

There are no houses going to be built.  Sorry, but thats the painfull truth.

Brian,

As I said my solicitor feels the best outcome is .....

I agree with you about given further monies to Spain to get back our money which has been illegally taken as well as the courts supporting their actions.

If a Spainish lawyer was confident is our success then a no win no fee would be ideal. Happy to pay a % if I can get 100% of my deposit via SGR.

Perhaps a Spainish lawyer should look and propose this and give us some confidence in the system.

Dear All,

I agree I would be happy to pay a % of what I got back even if it was 35% to my lawyer and I got 65% in the next few months!

Tony,

Just wondered what your views are on all this as we haven't heard from you yet.

I am not prepared to spend anymore money fighting this but would be happy to go on a no win no fee basis and pay a % of the monies refunded to me to, if the lawyers feel this is a dead cert way to get our monies back then this must surely be a safe way to go unless I am being very stupid???

Hi All I have just posted this on the other thread running but thought I would post it here as well : -

We have had a quote from GM Legal on pursuing this matter as part of a class action and the fee quoted equates to: -

just under 6.25% of the purchase contract deposit monies we are looking to recover. 

(Note this is based on two Malva contracts @ SADM)

We have been advised that after the retainer fee (700 Euro) there is nothing more to pay until the matter is resolved in the courts, and of course assuming a win the Banks will pay the legal fee in any event.

For me this seems great value & we are joining the Class action.

It still seems like 1 to 2 years away, but at least its a massive positive move forward and maybe the only one for those of us looking to reclaim our deposits without the benefit of a specific contract guarantee.

Or waiting for HDT\SJ to repay the monies stolen which just aint gonna happen EVER!!!

Hi All,

I am very concerned that some of you may be tempted to follow a route that yet again has no gaurantee of paying you back a penny but will cost you in legal fees. I must ask and I ask it of every one of you, do you really think all of the solcitors who acted on behalf of all of the SADM creditors did not read this document and do you not find it rather odd that some one suddenly thinks that they can get liabilty on to a bank? It is even more purturbing because the line of BG 's was for a defined amount, the document ( as far as I am aware) is just a notification of the existence of the funds avaiable for a BG and is not a BG & I have seen a few that purchasers have presented at UK meetings.

So who should we believe or trust? I know that it would be fantastic if there was a sudden and surprisingly new and overlooked way to get money back. But and I suggest that there is nearly allways a but what is the cost, how long would it take, how often would a bank appeal and what is the reall probabilty of getting a good outcome.?

SARC met with HdT recently and an update will be out soon and I would suggest that we all hang on to the money that we have and do not line any ones pockets no matter how good an idea it might appear to be. I will in the meantime ask a very helpful solicitor what he makes of the suggestion concerning the line of credit for BG documentation.

Wishing you all the best

Tony

Hi all

Reading through Tony's posting, he is rightly on the horns of a dilemna, as are we all.

He mentions, who do we trust?  How much will it all cost? Who do we believe?

I would say to anyone reading this, keep your mind open, and use your judgement to decide your chosen outcome.  DO NOT, spend anymore money in Spain unless you are sure it will stand a chance of delivering an outcome.

Read any documents you are dealing with and make sure you know what you are doing before you get into anything else.

Make sure you are doing what YOU feel is right and take advice from people not mixed up in this awful business, because most of the people affected by it, cant see wood for trees, sad but true

At this stage, forget the dream, thats what got you in the position your now in.  Stick with reality.

Hi All,

Legal advice was sought on Gaudalupe's proposition and I post it below for you all to see please note that the comment is in line with my questions and concerns.

Hello Tony;We cannot discard these possibility. However, they are mentioning a document that it seems they never have seen before.First of all they should provide more evidences about the generic bank guarantee that they mention.If this generic bank guarantee exists, first it would be necessary to study the terms and conditions to obtain the money back.But, it could be an option for the people who do not want to continue with the purchase.Regards. Eugenio

I hope this is of help.

Tony

Thanks for this Tony

It says exactly what I have been saying.  That we need to have evidence of the generic guarantee, and that we need then to make a judgement of the success of the action based on the legal opinions and our own finances.

I have asked this of Guadalupe in private, and had my response.  Your enquiry of the solicitor has come back with a positive result, depending on the documents in place.

The only question now for me, is that having contracts resolved in court already, do we still have the option of pursuing the generic guarantee, or has the concurso court taken that option away by their actions of resolving them?  We are left without any current contracts, and still have no offer of contract or guarantee of even our 65%

If that contract resolution has taken away any of our rights under the former contract that allows us to persue any action, we need to look into an action against our current solicitors for negligence, and suing their insurance policies for allowing us to have contracts resolved without properly representing our interests.

Notice how I did this in a very concise way without going on and on about other stuff Tony.  Can you keep to that method please?

I have been reading all of the latest comments regarding the SGR saga. Although i was delighted to hear that there was a possible light at the end of the tunnel for all of us connected with this disgraceful situation i still have several questions that i would like to have answers to before i also part with any more of my hard earned money. If i may i would like to share these with you.

Firstly, there will obviously be collusion between San Jose and SGR to prolong any sort of resolution to this issue simply on the basis that if we all jump ship and all try and recover our money via this SGR route one of San Jose's main cards will be lost that is to say with large numbers of  properties being sold already Banks will feel more secure in lending them the money to continue. Without this, the project is sure to fail.

Secondly.I may be too optimistic here in thinking that at some point in the near future i may get a call from Almudena and be asked to sign a new contract with a new completion date and a Bank Gaurentee.In the mean time If i follow the SGR route and try and recover my money via this method what happens to my contract with San Jose and my deposit ???.

I'm sure this a situation you have all given considerable  thought to . I would not like to think after all this time we can fall heavily between two stools and loose our money by A, not getting any return from SGR and B, loosing the property and the deposit to the thieves at San Jose.

Your comments would be welcome .

Best wishes to all

Martin Lewis     

Dellew,

my comments for what its worth is that:

1. HDT cannot complete the Santa Ana development. Because they will not be able to raise the money. Despite what they claim.

2. The Spanaish legal system allows HDT / San Jose to "play us along" for another period of three to five years when they ( HDT/San Jose ) will declare another administration process or enter into full liquidation. Because they will not build , never mind sell , sufficient number of properties in the economic climate which is likely to remain unchanged for three to five years.

How the legal process allowed them out of voluntry administration without establishing exactly how many of the 52 per cent purchasers would be prepared to complete their contract is beyond belief.

3. Your decision to follow which route must be on what YOU can sustain in terms of financial legal costs and the likely outcome that YOU are prepared to accept. Be it a return of your money or a house or a complete loss. 

4.There are reputable legal people who offer their services but not one of them can offer a cast iron guarantee for us purchasers. Such is the legal process in Spain.

Good luck in your decision whatever your choice.

Regards

Ken

Dear Dellew

I may be wrong but i am under the undersatnding that the two issues are not conected, if they have to pay out under this action, i think they just become creditors to HDT. As people have said it is entirely up to you whether you think this is a way out or want to continue. We have already cancelled our contract and would not in a million years consider dealing with them, just look at el pinet, still no COH or any hope of getting it finished in the near future.

On another point there are plenty of properties for sale near the coast or on golf complexes cheaper than they want you to pay, don't forget these prices where before the property crash in 2008, why would you want to continue?

I beleive if you asked the majority of people owed money for their house and they were given the option to continue or have your money back, most would have their money back.

But thats just my opinion

Kind regards

mark

I agree with Glendale (Mark), we have also cancelled our contract and have been lucky enough to buy a property, bigger, on an established 18 hole golf course with beaches nearby and an established infrasturcture. The cost was less than what we would have to pay for much inferior facilities at Jumilla.

I still cannot believe that intelligent people are still being taken in by this company, even IF the project ever does complete in ANY form the properties are overpriced for the market.

Those who voted "yes" have simply allowed this company to buy time until the enevitable happens.