Companies House Updated.

Hi Chilax,  well they are aware of us, I didnt know you had to actually register!  What does registering entail, do you have to sign away any rights first.   How do you register? Quite frankly they know who they have sold to, and who has not transferred to another site, so given all the solicitors letters I have sent to S.J. I would think they should contact  us and ASK US if we want our money back.     They are making us grovel to the very end then.    I am very sceptical that any monies will be returned as this hasnt been my experience so far despite solicitors letters and promises.    Roll on Feb then, are you waiting to the very end before taking action? or have you a date by which you will receive said monies?      As you can see I am very cynical, its the past years experience leaving its indelible mark!

Hi Ang/Chilax

We have heard that refunds will not be started until March and they will only come in monthly installments!!  Of course this begs the question 'from where if they have no money?'

Jojan

Again we have mention of February becoming March.  

Neil from South Wales - how is it going? 

Hi Jojan,

Where have you heard March from.?  The latest I had on Friday was February for start of refunds.

If refunds are not received in Feb, we need to take some action as a group. Maybe a group visit to Stuart Jones, face to face. The situation will need to be sorted ASAP.

Some friends who I have met through EBCC, are very worried. They have had a repocession order on their house, but courts have held off due to the fact that they have explained the situation and will be recieving money from Feb onwards. If the money does not come through, then they will be in a difficult situation. 

We should all be told where the money is and why its not sitting in a client acount. A crime has obviously been committed as they will not give answers.
 

This message was last edited by chilax on 1/25/2009.

Hi Joey 123

Re: Neil from South Wales (neil.richards2@south-wales.pnn.police.uk) I sent an e-mail to register our complaint on 12 January 2009, and to date, nil response.

To everyone

Re: Conveyancing Spain Uk agents acting on behalf of J. Olleros & Asociados (who we believed were our Spanish Lawyers) relied to an e-mail I sent to them regarding our file which we have paid to open for the proposed purchase of off plan property at Estepona Beach & Country Club.

Response from J Olleros & Asociados (Spanish Solicitors):  They do not have any file under our name.  If Conveyancing Spain has been acting as their agents it has been without their consent and they cannot account for any money that we have paid to Conveyancing Spain.

SBS Administration - Nill response to e-mail's sent to them regarding refund of monies.

Hi all,

You may or may not know me but I am currently working for SBS Administration. If you're having no luck getting responses from emails try sending them through to me directly at ben.sbsadmin@gmail(dot)com. Obviously there is a very high volume of calls and emails at the moment but we are doing all we can to get any queries answered. If you want to try and get through on the phones the numbers to call are 01543 494017 or if busy, 07790 942581. Please do leave a message if you get through to voicemail as we do check it regularly.

Ben.

Hi Ben,

Thank you for the communication, it is most appreciated, if slightly overdue!

Please can you give an update on EBCC.

1) Where is our money? / We believe its been stolen as nobody has given us an answer.

2) Why can the money not be refunded in 1 lump sum?

If you can find 5 minutes just to answer these questions,  i'd be most grateful.

Hi Ben

Thanks for coming on the forum and giving out your email address. it is much appreciated.  I will be re-sending an e-mail that I originally sent to SBS and I look forward to receiving a response in due course.

Personally I dont see deposits coming back without delays. Previous payments have failed also.

From what I understand from others is that there would be 12 months of staged payments. The repayment will be in GBP even though they ageeed an exchange rate and converted into Euros at the time of taking deposits . Assuming that it was transfered to a bank in Spain they then would have, based upon £70,000 deposit  a sum of approx 100,000+euros in a bank account. Now given the that OV want to give you £70,000 back in sterling and the exchange rate is £1 for 1 euro. That means from the 100,000 euros you paid them they are only going to pay you 70,000 euros back. A nice profit from every investor of 30,000 pound or euros. This money is yours! Don't accept anything less. Also during this 12 months its going to cost you approx £300 per month to cover your loan or interest.

If I am wrong about the details of terms then please do correct me as only heard off others. If this is the case then its WRONG. If the developer does have the money as ovp state then your money is in EUROS! so you should have euros back. That maybe some payment towards interest /stress that we have all suffered.

Regards

James

Hello James.

I'm not sure who told you that information, but when I spoke to OVP they confirmed that refunds would be in euros not sterling. They would have too many court cases if they tried to rip people out of 30k!  You are right, nobody should just settle for an offer. I will personally never give up in getting my money back from these poeple. I would imagine the directors will want to get this sorted also, or they will be having grief for a long long time.

Are you still involved with EBCC or did you swap to another development?

Regards,

Chilax

Hello Chilax

They told me it would be repaid in Stirling!! Should we just save on the phone bills and just make it all up ourselves!

Let's hope they are not mucking everyone around as it would not look good if they are not telling truths about returning the money, if they ever need to explain their activities to anyone. I am pleased to see some postings from them, at least offering to help. The're making the right kind of statements with their intention for the money to be repaid, they just need to start to repay the money (preferably in a lumps sum) , in Euros and pay interest. It is not too hard is it?

Despite the above, I am hopeful they will do the right thing eventually.

Joey

• How does a person register for a refund?

• Will the refund be the full deposit in Euros or Sterling. For example I have paid approx £70,000 sterling which when I paid to OVP they transfered this money at the agreed exchange rate into Euros for me. This came to over 101,000 Euros. As the money is currently in euros then I would expect the monies back in euros so refund of 101,000euros I would expect to recieve!

• What is the agreed time scale for repayments?

• What protection do you offer to ensure that these re-payments are kept up and completed? As you are more than aware previous paymnets to clients have not been fourth coming and some cheques issued have bounced in the past.

• Why is an official communication not going out to all clients advising of this scheme? Again a lack of communication has led to speculation by very worried investors who cannot afford to loose this money as its their  Pension ! House!  at stake that you are playing with.

• Does OVP still maintain that the developer has the bulk of all deposits less the commision that OVP earned for selling the contracts.

• Assuming that you still have contact with the developer. Could you ask him to send us the clients the signed contracts that we should have had received shortly after signing and handing over our hard earned cash. I dont want him to keep it for safe keeping I want it in my posession.

• Will clients be expected to waiver any legal rights to claim via the courts if they accept a staged payment refund?

The relevance of the Euro / Sterling point for me is that they are happy to say it will be paid in Euros and they also say it will be repaid in Sterling? For me it is the fact that they still say anything and there is no straight consistant story. I am not wishing to bash these people if they are going to repay me my money. They did not do too well as a company before the adminstration did they? So which is it going to be?

I agree. £76k is £76k. However, if the Euro had gone the other way you can be sure we WOULD be offered EURO refunds; so as we had to pay in Euros why not ask for the money back in Euros. They seem to think they can repay us with no interest so let's take the currency gain. We know we paid them in Euros as I recall the special limited time exchange rate offier I was made at the time to get me to part wiith my deposit (did any other of the 394 people get a special limited offer of a great the exchange rate if we paid within a certain time? Probably all of them - and what were we exchanging for - Euros - where where the properties and what was the purchase currency - Euros)  -- where was my money going - in a safe "client account" in the UK - where did it end up? (still a mystery) so actually, yes, I think I do want my refund in Euros).

Given my very poor experence to date I strongly object to them making any money in interest or currency gains when I am left out of pocket. SBS is as it states. Nothing more than OVP staff apparently trying to resolve our issues and return our money - which is good and admirable - credit to them for sticking with it and for tring to honour the refunds. Their side of the story on their websire tells of all the problems they have had. However, our money was supposed to be in a secure "client account" - so why wasn't that done?

James just wants a clear truthful response to some reasonable questions which lots of people have an intested in getting. Let's see if they are forthcoming. We should thank James for his efforts. I do.

Yes, a company gets breathing space while in adminstration. But that's all. If the money is not returned then hopefully the rightful action will be taken. I am sure there is more than enough money at stake for further action.

The money was transferred into euros, I have a letter confirming this. So my money should be refunded in euros.

End of story.

and they say no fraud has been committed......! What a joke.

Thanks for the info James, I will forward onto the relevant people ie Staffs Police and Ted Jeory.

Well it amazes me that some people who are on this forum still treat us as though we are idiots.  Administration I think we all understand but you understand we are all very angry, these people have had no right to hold onto our money whether it is tied up in property or not, they did not honour their side of the agreement and are a disgrace.  As for saying we shouldn't expect anything other than our money back, we are all standing out of interest lost on this money over the years which a majority of us have had to fund through our mortgages, our homes are at risk and it is just down right wrong.  If there is any justice in this world we should all get our money back with interest made on it and be able to sleep again at night without the financial worry that this nightmare has given us!!!!!!  But maybe I'm just living in cuckoo land!!!!!!

that makes perfect sense, but they just need to know that there are people determined to get justice. If justice is a refund then justice may be done. If no refund and continual delays it is important they know the police will have to look at the activities and being in adminstration is not going to stop that.

And by the looks of it, even though they are in administration, Ben is still trying to sell properties rather than give us a refund..!! Un..bloody..believable

So are Jon K Smith and Stuart Jones still at OVP offices or are they working for SBS..?

TrickyVic

You could be right but it must have been apparent a good while ago that things were going pear-shaped and did they do anything about it? No, in fact,  OVP were still selling properties/taking deposit monies etc until the administration notice was put in place of the website and no doubt there are some poor sods out there right now who have recently put money into the OVP coffers via Morroco/Dom Rep.... like it or not, they are con men one and all and I dont imagine for one minute that they have had any sleepless nights over this other than perhaps wondering how to spend other peoples money and how to do it in such a way that they cant be touched.,!! Perhaps they'll join Sean Woodhall....!?!? (fingers crossed)

Sorry for rant ALL but I'm F.U.R.I.O.U.S

They are pernicious, vile little men......