Land Ownership

Can anyone confirm who the owners of the land at SADM are?
Is it the promoter or others?
Could make a massive difference.

FIN,
As far as we are aware it is HdT.
All the best
Tony

FIN

San Jose like many Spanish builders set up seperate spanish sl for each development (but shift clients deposits to main company. This is is how they weezled away from Albatera and it was only determined clients who pursued the money train. The famous Ola (aka Atlas) and the like told the clients the money had gone!

then when they get in trouble they bankrupt the small spanish sl and say "no money left"

the land will be owned (if they have actually paid the farmer which has never been proven even after court case) by the master company.

hence the bankrupt company has no money or assets.

quite cute - but then crooked spanish builders are quite cute and not poor

alamred, yes, that is why I asked the question if anyon can confirm and not just speculate, especially answering for more than one, and without being able to support.

Cute it may be, but it is something used by not only builders and promoters, but all industry worlwide, to protect their interest.

Example. The overseas company coming into UK. The company has a multi billion dollar T/O and considerable profits. The UK subsidiary has no assets of its own and was a newly registered company in UK just 6 months ago.
They have been able to get 50m credit support in UK though.

When it goes sour, its up tools and back home.

Is it a possiblity that the land owners could sell on and not wish to have dealings with the promoter, due to their financial difficultie and despite perhaps the directors are the same for both companies?

One of the largest Japanese electronics companies liquidated a UK based company just 1 year ago, despite continuing to trade in UK.

Agreed Fin. Very difficult to prove and does make a big difference.  Would not the Administrators of the court have looked into this and made a judgement which will be submitted to the judge.

Possibly, but can they make binding agreements that any two companies must do business and trade together?
If they are in a position to do that, they would be able to force a bank to trade with a company.
If it were possible, how long would that agreement be for.
I personally don't believe that there is such a law and if it did happen, the land holding company could sell on for 1€
Are the administartors goind to re-write company law for the sake a a relatively small developer, who could not manage their company.