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Thank you Bernie for sending me the accounts for Huma Med..  

It appears looking at them - the sales recorded from 2004-2006 were ..

AÑO VALOR
2004    24.653.895,91
2005    39.890.880,67
2006     7.017.880,35 

That totals 70 million euros!!!!!  They have 28 employees - what are they doing ???? It's a hell of a exacting job managing an empty building site!!!

Taking into account the small number of refunds known and most of the deposits held - then someone is enjoying our money.  At 6% approximately 4.2 million euros interest per annum. Do not need to sell much to cover your expenses with that!

..........................

Parador Spain  (INICIATIVAS DE VENTAS SL.)

.: Ventas Último Año: 35.006.419,00 EUROS sales for 2005 & 27.530.033,00 for 2004.

Being an accountant - I think I am reading the correct figures from the published accounts.

Any one who is fluent in business spansih - I will send you the document to check - I am reading the wording correctly - send a PM.

Great business if you can get it. It appears Parador Spain was created in 2003 - just before or around when ACC was starting - so I wonder how much of those commissions are from us.

Well there it is!!!

Guess what Huma Med have -  a 50% stake in Huma Indalo - a direct association - as well as the same director - SUBIELA HERNANDEZ ANTONIO - that means our solicitors can put a charge on the Huma group - so they are not going to risk Huma Med going bust - so we can win in the end - and I am sure Parador will not give back their commissions (allegedly of between 10-15%) - hence they all want you to transfer over.

This whole thing could come tumbling down eventually - if Huma are overstretched and cannot sell OTCC to new customers - not just get transfers to delay the issue. This could put MCC and OTCC to risk as soon as court actions start to come one by one.

Would you deal with Parador or Huma again or recommend them to anyone?

I have passed all this info and much more to Channel 4 News - and I thank all to those who have sent me info.

I am determined to take Parador to court in the UK and the more I dig into this - the more I look forward to see Parador answer some of these questions in front of a judge.

Anybody that thinks they have any information on Huma /Parador please send PM - we need to expose this thing by hook or by crook.

John

Well done to John and Bernie.  This is indeed brilliant news for all of us who are without a bank guarantee and taking Huma to court .  Thank you so much for the information.  It was always the worry that there would be no money left in the ACC pot as it was transferred elsewhere. 

Thank you to John and Bernie for this very interesting information. It will be of some comfort to know that Huma do have funds. I think we were all worried that they would go bust and all of our money down the drain. Thanks again.

However, it  is is so frustrating that we can't make any progress. We have a bank guarantee but still can't get our money. By hanging onto our funds, Huma are owing us more and more money as time goes by. We would have expected this to presuade them to pay up  - but this is not the case. Anyone have any ideas ??

John, we will give you all the support you need with channel 4, any information , just ask.

hi everyone,here i am again with bad news,we have a post dated cheque for wed and we were feeling very worried that this second cheque from huma would be the same as the first,bounce bounce bounce,,worries over
JUST RECIEVED AN E,MAIL DONT BOTHER YOURSELF GOING TO THE BANK,,,,,NO FUNDS AVAILABLE,,,,,,,,,,,,WILL ISSUE YOU WITH ANOTHER CHEQUE DATED 
SEPTEMBER,,,BUT WILL TRY AND PAY YOU BACK BEFORE THIS DATE.........................................
WONDER OF PARADOR WILL LEND US A FEW BOB TO TIDE US OVER,THE GOT US INTO THIS ROTTEN MESS

Well, the real interesting point ut's that the development, actually, is off-law and stopped by a Court.

The developers and the Local Council are trying to get it legalised, including the lands in the new Urban Plan, but it doesn't seem so easy.

Last Friday there was some news about the new Urban Plan that implies a "political storm".

So, our advise (as it was some weeks ago) is to withdraw contracts and sue the developers.

The money received for the off-plan buying, should be into a special account and most of it not disposed, so the faster you act, the more posibilities you have to be refunded.

The legal action would give you your monies, a 6% yearly interest (since you gave them) and the legal expenses.

Appart from that, if you have a valid bank guarantee (some are timed-out) you should have no problems to be refunded by the banks (CAM and Banco Valencia are actually paying them).

In any case, our advise is to act as soon as possible.

On top of all these things, we consider the managers of Huma should be responding as they've been quite negligent in the administration of the company

Just a cautionary note about the accounts - sales figures are only part of the story you need to know what expenditure HUMA have made eg land purchases, building costs (not a lot at ACC but quite a bit at MCC) , finance costs, solicitors costs(likely to being going up month by month), back handers to Mayors(whoops shouldnt of said that), pension contributions to directors!!! dividends to shareholders!

The important information from the accounts would have been on the balance sheet - bank balance and creditors - was there any details on these?

Nigela

You are right and I intend to pursue this further now that I am on the case. The problem is the accountants are probably bent too - the question is where is our £34m?? In fact of all Spain is like a sink u waste pipe - in many ways!

You are right there are costs to take into account - but we will find it hard to find out the true figures as accounts can be manipulated within the law easily to show anything you want to avoid tax and bad results.

We must focus on the facts - the £34m should have been paid into a special clients account and not used until the properties were handed over - that is what I understand - but due to bouncing cheques - it is somewhere else - or is this just a way of delaying the court action!!!!

Hopefully once we get to court - there will be a clear verdict.

We will never get to the real truth of this!!!

What is interesting - in the UK - you would not expect prepayments (known as deferred income) to be shown as sales. It would be shown as Creditors - money due to be repaid if not completed.

Probably spanish accounting is similar to spanish justice - alice in wonderland stuff.

Who would ever want to live or deal with anything spanish after this?

No wonder all the criminals in the 1980/90s fled to the Costa Crime!! No one goes there now because the probably the criminals are sick of getting ripped off by spanish criminals!!

It's another day in the wild west of the Costas!!

John

Congrats on getting that info regarding Huma's accounts - how did you get hold of that???

What I would also like to know is why are all the solicitors working on this case so reluctant to issue a Denuncia on Huma?  

Surely if Huma's accounts were frozen, dear old Senor Subiela would be a little more willing to pay people what they're owed, including deposit, interest, compensation for lost rental income etc........

I have heard from several abogados that he is an extremely nasty piece of work - no doubt he has friends in low places and may not be aversed to intimidating our legal reps?

Val

I respect people's forum handle if they send me a PM.

It is obvious many people prefer to work behind the scenes and not post - so in order for that to continue I must respect them. However when it is appropriate and we have some facts or concrete suspicion - I will always post it!

It is beginning to be like a MI5 agent - but more and more information is beginning to come to the fore. Many people know little bits of info and eventually we will have the near full picture.

If you have any useful information or suspicions - please send a PM.

It will help with any court case here in the UK or Spain eventually.

John

Mr. Subiela has partners in very very high places.

As I commented on other thread, the "Abogado del Estado" (Public Attorney) was rejected to vote the Urban Plan of Cuevas del Almanzora in the "Comisión provincial de Urbanismo" (Urban Provincial Commission) last week because of suspected relationships with Huma.

In any case, not all "abogados" are reluctant to issue a denuncia against Huma. I think it's a matter of balance... The  buyers want their money back as soon as possible, and if the civilian action is possible and to be succesful, there's no reason to get into a complicated criminal case that would take longer and with not so surely succesful (you know, "in dubio pro reo" and all these things).

Appart from that, we have time enough to go against managers of HUMA through a criminal way. If the society runs off money, they will have to respond because of negligent administration. They've no t guaranteed amounts, they've used the special account forward what it's intended for, they've incured in high debts over there financial posibility...

Of course, we could pursue also Huma to be fined for not guaranteeing received amounts (25% of the amounts to be guaranteed, which are not just the amounts paid plus 6%yearly interest al along the expected construction time), but I think is not very sensible to get Huma into new debts.



.

Huma's accounts are a matter of public record and available... but at a cost.  I don't want to waste any more of my hard earned on this company!

See the einforma website (a dotcom website) for details.

Lucas,

How much would you charge for getting a denuncia against Huma?

What would the implication be of a denuncia with regard to those customers who are trying to sue Huma through the courts?

Also please 'share' any information you have with the forum, information that may help us the victims to get a refund.

Thanks in advance

I wasn't sure what denuncia meant.

Found this :

http://www.costaconsultinggroup.com/articles/article68.pdf

Just to let everyone know - I have made contact with Emilio of Lucas Asciados and due to personal reasons he is unavailable for the next few days.

So we do not all need to bombard him - I intend to have a very long and lengthy set of chats with him about the info I know and see what he has too (I think he has said there are things he does not want to say on the forum - so we must respect that). His local knowledge will be useful to us - and if he wants to help - we will much appreciate it.

I have first asked him for a true assessment of our positions (especially those without BG's) and an honest assessment of the timescale ahead and where are the pitfalls. I think we all need to know what are chances are of refunds.

If anyone wants to PM at any time - feel free - though I will be on holiday a couple of times in July.

As always I will post relevant info as I find it out.

John