Anyone else bought an of plan property at FortunaHill Golf and waiting on completion ?

Hi Ian,

There is a group that is well advanced into litigation, but newcomers are still welcome, I have put a link below to their website.

I switched my deposit from from Fortuna Hills (San Antonio) to La Finca golf course and have been enjoying our great villa in the sun, we switched using Ole International who are handling all the switch transactions for San Antonio, DYOR make shure any route you go down is the one for you and explore all the possabilities.

Good luck, Paul

hi.   We too had problems with bank guarantees etc, however, on a whim i contacted the new advert on the side here, Overseas Keys, and they have come up with what sounds like a good alternative which means i don't lose my deposit and still get our holiday home.  It all sounds good so far, have been out to visit them and all seems ok.  Has anyone else had any dealings with these guys? 

It's been a while since my last missive, but I'm glad this blog is as fervent as ever!  Questions then:

1) Has anyone got anywhere with San Antonio via a direct approach to get your deposit back? 

2) Can anyone update on progress with the legal route - are you winning?  I ask this on the back of Jonny6's posting that shows that the legal route does seem to work.

@SlidingDoors, I live in Wilmslow so would welcome getting in touch with you, I will send a private mail.

@Madmau43, Maureen if I cannot connect to you via a private mail I'd like to discuss La Cinuleca with you further.

For the superstitious of you it was a 'blue moon' on 31 Dec which brings significant change to our lives, a properous 2010 to you all then!

Mark

For new information on San Antonio and Fortuna Hills check out this Friday's edition (February 19) of Costa Blanca News.

Anyone who has invested in the development and who wishes to comment to the newspaper can contact me via this post.

CBNews

Do you mean you want comment before Friday or after we have read your article?  If you want comment before what topics do you want us to comment on specifically and is there an angle you want us to elaborate on?

Can you please post a link to your article on Friday regardless?

Many thanks,

Mark

Hi, thanks for replying so fast!

There won't be any room for comments in this week's edition but we are always interested to hear from people who are having difficulties with their properties.

If anyone would like to contribute any information about their own experiences we can get a better idea of the full extent of the situation there.

No angle, just how much has been paid out, how long you have been waiting, what promises have been made and/or broken about completion, whether anyone is taking legal action, how the situation is affecting you etc.

Hopefully at least part of the article will appear on our website, which I will check on Friday when it is updated.

Extract below taken from 'belegal' website dated 24th February 2010.  I cannot post the link as I have not made 10 posts.  Please contact your solictor for advice on what this will mean to you own situation.

Promociones Eurohouse 2010 is a well-known developer based in Orihuela, Alicante, and is a subsidiary of San Antonio Group. Its off-plan developments have been bought mainly by UK and Irish citizens looking to retire and enjoy the mild Mediterranean weather. Regrettably off-plan buyers are in for a nasty surprise within the next days as this developer is the latest victim claimed by the ongoing recession.

It is yet unclear at this stage on whether it will be a voluntary receivership filed by the developer itself or else a forced receivership procedure imposed by one of its numerous creditors (Atlas International) as both have been lodged on the same day before Elche’s Mercantile court. It will now be up to the Mercantile judge to decide on which one it finally accepts. The reported debt, yet to be confirmed, is over 150 million pounds.

As soon as it’s officially announced in Spain’s Law Gazette (“BOE”) creditors will have only a strict deadline of 30 days to lodge before the Mercantile court their financial interest. Failure to join the receivership within this deadline will result in a loss of their stage payments.

Once more, we stress that a developer filing for a receivership procedure does not necessarily equate to bankruptcy, as some sources keep mistakenly reporting. That is something that will be decided at a later stage by the Mercantile judge overseeing the receivership procedure. Spain’s Insolvency Act is geared towards saving ailing companies who may be suffering temporary cash flow problems. Filing for receivership in Spain allows these struggling companies to buy time allowing them to renegotiate and restructure their financial commitments.

In fact many high profile developers who filed for receivership back in 2007 and 2008 have already announced they are exiting receivership and resume normal trading

Non-exhaustive list of affected off-plan developments:

1. Fortuna Golf Gardens
2. Fortuna Hills Golf Resort
3. La Mirada
4. Residencial San Pedro
5. Residencial Miramar
6. Miramar
7. Residencial San Pedro del Pinatar

Has anyone decided to pursue the legal route with Plus Advisors?

Has anyone had to stump up money up front?

The situation is now mind boggling.  Anybody think we will ever see a penny?

Hi RickandJo and everyone else,

I have been doing much research with others and will be claiming.  Think about the situation this way, are you willing to invest another £1000 (and a bit more I'm sure!) to obtain your EUR45,000 deposit back?  Besides the strong Euro today goes in our favour here as we should get more pounds back from our initial investment.  Yes it may take two years to get the money back via this route but Plus Advisors and others are indicating a flat fee for a class action suit so I think it'll be money well spent.

Cheers,

Mark

Hello all,

The mercantile court number 3 in Elche has now accepted the petition for a 'concurso de acreedores' for Eurohouse, which we reported in Costa Blanca News in February.

Any creditors and homebuyers who have not received their properties have 30 days to register the company's debts to them.

The 'concurso' process means administrators will evaluate whether the company is a viable going concern or whether to liquidate its assets and pay off creditors according to a set list of priorities.

If any of those affected would like us to include your experiences or thoughts on the matter or if we can publish details of this proposed class action please email me.

I haven't posted enough replies to include the address but hopefully you can work it out from: awatkins at cbnews dot es

Kind Regards,

Alex Watkins

Hi all,  hope this email finds you in good health !

Has anyone been contacted by Plus Advisors reqesting the origonal 'power of attorney' form  ?

Mark

nope, should they have?

What were they thinking?

www.spanishpropertyactiongroup.com

This message was last edited by Trevor007 on 28/07/2010.

Retirement! .....like that is going to happen at the age I wanted now!   :(

Great video, slick website, no contact numbers company information, just a contact form, sorry seen it all before you pay them to take action and win or loose they always win

Might be wrong but I am always nervous when so liitle information on the company is included on the site

How much golf?

Same comments as before why not include some real comonay information on the website rather than marketing hype

All been done before refer to European Mediation and a few more scams

Roy,

How can you be so negative, you have no idea about this, and how dare you call it a scam!!  I have recovered my deposit, after being led down the garden path and up round the corner by dishonest lawyer.  Now if there are genuine people who want to help people get their deposits back by using dependable Lawyers.  Stick to what you know Roy and do not hash peoples ideas by your negative comments!  You have no idea who these people are, why do you not ever say anything positive to anyone apart from the people who use your company.  You will not be getting any work from Fortuna as they have not built the development and most of the poor people on this development have lost their deposit by being lied to over and over again, they were promised Bank Guarantees and they were not given - that is the SCAM Roy.

I do not want to hear from you again as I will not be getting into a debate with you over this, give these people a chance whoever they are they could be trying to do some good, unlike yourself! Good luck to you Spanish Property Action Group.

As you may or may not know I actually assisted an number of people on this development, visited the site and checking progress, advised people on their legal rights and trying tp help where possible, all for no charge

I actually provide a great deal of free advice for people that do not use my service, agian with no obligation simpy to try to assist

I also was very critical of a certain lawyer on this and various other developments, who failed to obtain the legal bank guarntees and then went on to offer a service, for an upfront payment, to recover the depòsits and after I suggested that perhaps buyers should go after the lawyers for malpractice, the lawyer threatened me with legal action, however I carried on advising people

A reputable lawyer will not charge for a first consultation and advise you professionally on the viablilty on getting your money back plus there are many class actions already underway against a number of developers with lawyers like Irwin Mitchell and Costaluz Lawyers

Going back only 1 year and this is well documented on this forum, there were 5 organisations, reported as being old staff from MRI and Parador Properties actively mailing clients offering for, a payment in advance, to access the viability of recoving lost deposits etc, with very similar websites, and after getting enough money all of these organisations have now disapeared costing these unfortunate even MORE MONEY

Question Cerian, did you get your money back by using this company or by employing your own lawyer

All I am saying that If a company is  legal, available and working their websites should include phone numbers. e-mail addresses and a contact address otherwise are they real or just another sales front toolved with a  get people´s money and again I refer to European Mediation

Perhaps the author on the video Trevot would like to respond, perhaps with some clinet references, details of how long they have been established, are they actually lawyers, and more specific information on how their service works, if you want advice first go to an independant lawyer

By the way nice production on the video but a number of the descriptions do not match the actual resorts they claim to be

Just to finish I am actually involved with of number groups that lobby for change, legal organisations and it should be the corrupt lawyers that should be paying  so please think about your comments