What's the best deal?

Hi All, We are still here, plodding on, will post if and when I have any news. Sorry , but did post as soon as I smelt a rat months ago.

Be in touch

John and Trish

Just got back from Spain spoken to 2 separate Lawyers regarding the development the good news is they both thought they will finish it sometime in the future as they have more tied up than we do in the project. On getting our money back both says we would win in court hands down no problem but getting the money (deposit) back will be problematic if they say they don’t seem to have any cash assets. So liquidation of Group Urbasa would be the next step leaving us all as creditors, they would face court costs as we would if we took litigation against them , around 2K each is the estimate from both lawyrs also they would want their fees up front and don’t work on a no win no fee basis.

One thing I did find out is that we are by no way alone in our plight many builders are facing similar problems all over Spain and I for one would strongly advise anybody from buying off plan now or in the future, a resale in my opinion or a finished new property is the solution if all this hasn’t put you off Spain for good. On a more positive note if you are looking to buy a resale every one I spoke to over there says there has never been a better time to buy as prices are in some cases very cheap , also its been as high as 28C latley

Hi all

Much the same as we ve bin told so is it best to just hang on indefinitely as going the legal route might just be throwing more money away I just dont know any thoughts from the rest of you ?

Thanks for that info.  In some way, all is not lost.  So long as it's done one day then that's the best we can hope for.  I would hate for EVERYONE to ask for their money back forcing Urbasa into liquidation as we could all end up with nothing.

I'm now seeing it as one of those long term investments.  I do not waste my life worrying about on a daily basis or I would go insane. 

Hi Snowqueen,

I think your right. At this stage there is very little that we can do only wait. the property will not go away, and Urbasa have more to gain by finishing the project. At that stage we may have some return on our investment.

they wont pay anyone back voluntarily ionah as allready told me this she basicly said they are skint or should i say in financial difficulties

Hi all......

My thoughts entirley...best to stick with it for now and see what the internal audit throws at us.  I just really hope that 2008 really will be the year for something a bit more final.  At least we are still all together on this and worse case senario will be sticking with each other to the bitter end if all goes wrong - which i really dont think it will.........bye for now.....missy

Hi all we went to Amarion 111 yesterday everything is the same

the main street as got new street lights up now they look quite nice i will post a pic when i get back home but that is all that as been happening near amarion

the weather over here is still quite nice ( sunny during the day )  walking around in the vest weather

starting to get a little nippy at night tho

hello everyone just uploaded those pics for ya all

i didnt know the tree's outside amarion 111 were orange tree's !!

seya all soon

Thats cos they were not there when we all first put deposits on Amarion. We have now had 10 years  of fruit every time we go over to check on progress!!!!!

Sorry just a small exageration.!!!???? Will be able to finish our apartments with MARMALADE ourselves!

Cheers all, Think Happy!!

John and Trish x

Hi All,

Merry Christmas and a Happy New Year, I just hope that next Christmas all this will be over

Hi all received a reply back from Urbasa re whats happening ,It now appears they have set on another administrator working with Ainoha on Amarion 111 so that’s positive (I think). She says (Isobela) that  she  is getting up to speed with the development and they are close to getting the information from the auditors they require  when they will inform us all.

Nothing really new just thought I would share the reply with you all at least they are still trading

Hi misty,

Thanks for the update.  Did she say if there is anyone building on the site?

HI WOTNOCASA

I think the only builders on the site are ANTS

Bad joke i know but we need some humour even bad

yeah right Phil..gotta keep ourselves going somehow, but it's how that's the problem. 

For sure more ciggies don't help so any ideas...nah perhaps not..lol.

HI WOTNOCASA

I Went early December and the place wasnt touched exactly the same sad to say

I think my next journey out there is goin to be May or June when the weather picks up a bit -  lets  hope they are doin somert by then, I will let you all know for sure

hi all,

      we fly out tomorrow, will be seeing our solicitor on thursday, hope he will be able to tell us what is happening. urbassa not answering to our e mails.same also palmera. no contact since november with either one. we only out for a week will post when we get back. we had asked for a meeting with urbassa, but no reply.

Did we sign up to resycle money? Or buy an apartment? Every one of us has put so much money in here. We cant go on grasping straws......the straws are getting shorter and shorter. Urbasa....Palmera???? We have now gone the way we should have gone before. I hope everyone acts as quickly as possible and gets the best they can from all this.

Good luck to you all......We know we wont be having the party on our roof terrace now!

to all of you who still have hope.....our best wishes...wish we could have your faith...

all our love

xxxx