30 Oct 2008 9:57 AM:

I too would be extremely interested in any information re ads posting.

When the contractors are clearly in breach of contract - and yet to be classed as ordinary credit, would be a bitter blow indeed.

And the courts hardly  help when the case takes several years to be heard, during which time the developer becomes insolvent.  Who is to blame I wonder - surely not the claimant!

Seems as if you are dammed if you do and dammed if you don't.

Thread: What happens when the developer declares itself as bankrupt?

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26 Oct 2008 5:40 PM:

Many thanks for your reply Marie.  Sorry I have not thanked you earlier. 

Your answers were, as always, extremely helpful. 

(We have started court proceedings incidentally.)

Can anyone tell me how I can get information if a developer has become insolvent?

I told our solicitor that I had heard they had become insolvent (an acquaintance says that her bank manager told her they had gone bust or were about to), and he just said, oh well, all sorts of people say all sorts of things.

Which I agree is true, but I want to be at the front of the queue when it comes to a claim and I can see him missing a creditor's meeting.

Thread: What happens when the developer declares itself as bankrupt?

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26 Oct 2008 5:31 PM:

No, it is not.

Thread: What happens when the developer declares itself as bankrupt?

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13 Oct 2008 4:19 PM:

If one wishes to reclaim deposit monies paid on an off-plan development (for whatever reason) and

the contract is deemed to be null and void

is there any alternative to going via the courts or a bank guarantee?

I am not trying to cut out the work of the solicitor here but it seems we are between a cleft stick as the courts may take years, we do not have a BG in place, so we would have to hope the developer is feeling kind enough to agree to an acceptable deal with us.

Or .... does the developer have insurance or similar or would there be any 3rd route worth considering?

Many thanks.

Thread: Bank Guarantees explained

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12 Oct 2008 12:00 AM:

Can anyone tell me what happens in the case of a developer going bankrupt regarding any chance of getting money back, when there is no bank guarantee?

Is there anything one can do in the early stages to improve the chances of getting any form of financial benefit?

Thread: What happens when the developer declares itself as bankrupt?

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