Deeds of sale signed in the presence of a non Spanish Notary

nI haven't posted for some time because there was nothing positive to say, plus in June, Palmera appeared to take responsibilty again for EZ by putting updates and photos on their website. However I have been following the Alpujarras M/B and the latest bleak reports. Unfortunately a trawl through various Spanish websites seems to concur with the worst fears.

There are several sites that include Proturex listed correctly with their CIF number (Co. reg no.) They are such sites as "Buletino Oficial" and "Buletino Estado" This particular one shows PTX in tax administration. I have emailed Palmera to-day and asked for clarification. They can only confirm their lawyer last spoke to PTX in July and everything appeared to be OK, but they have not been able to make contact with them since the return from the August holidays and so they are attempting to send another Bureaufax (registered letter). They have promised to keep me informed and other clients as well.

Anyway, before we all get our hankies out, perversely if PTX are in liquidation it could be the best news we've had for a while. Assuming the Spanish receivership system is similar to the UK, then the liquidators will be looking to realise assets asap for the creditors. We idiots I guess will be fairly low down in the pecking order but the biggest creditors will be the Banks. Logically either the Banks will appoint another bulder or the site will be sold. Either way I can't imagine for one moment that The Sierra Nevada National Park, Junta de Andalucia, Junta de Alpujarras or the Ayuntamiento de Mecina want a ruinous crumbling eyesore on their doorstep. I assume they then will be pushing buttons somewhere.

How all this leaves our contracts is impossible to say, but at least a new builder/developer will have a ready made client base. The overall problem is we will still be waiting for some time yet for a result. If anyone else can investigate further I'm sure we would appreciate what you find, so may be it isn't quite RIP El Zoco.

AVF,

Good to hear from you, any news is worth posting and I concur that if PTX go TI!S up it will help all round.

I have been pressing PP and am ever hopeful because I personally have no choice.

I had hoped the new Mayor (who previously supported the development) would be pressing for resolution. As things stand it is a blott on the otherwise beautiful landcsape - for all concerned inc. earlier finished Phases who presently have to drive passed a building site. It is in all our interests it is finished.

Cheers,

Blighty

Latest from PP;

"No news I´m afraid. I feel very frustrated that I keep giving you the same answer. I wish I could tell you something different and positive but we just do not know. It is in the hands of the lawyers now. What I can say is that  they have sent the burofax and are waiting for an answer.

I am sure that as soon as they know anything they will advise us"

Cheers,

Blighty