REFUNDS LAS HIGUERICAS FINCA PARCS

We have this morning received the following email after sending three un answered ones !

We are sorry if you have not received an acknowlegement from our administration department.

Currently we are reviewing over three hundred clients situations, this is taking more time than previously expected.

You will recieve shortly the next procedure for your particular situation.

Administration Department

Finca Parcs Refunds

Ana is no longer answering the Finca Parcs Refunds mobile number.

The phone is now answered by a gentleman who gave his name to me as Max Kite.  He said that he has been employed by Cleyton GES to collate "a list of all Finca Parcs clients who are willing to accept a full refund of deposit paid with the addition of 6% interest"  Max said that in order to move onto the next stage of the refunds process they need to complete the full list of all clients willing to accept a refund as soon as possible.

So please call Max directly on 0034 686 767 921 and register your details as soon as possible.

Alternatively if you have a Legal Representative please ask them to contact Max as soon as possible to register your details.

Not sure what happened to the Official Communication that was being translated from Spanish to English for release at the end of last week..................

DURING THIS COMING WEEK ALL CLIENTS THAT HAVE REGISTERED WITH FINCA PARCS REFUNDS WILL RECEIVE  A PRIVATE COMMUNICATION RELATING TO THEIR  INDIVIDUAL SITUATION AND TRANSLATED INTO THE RELEVANT LANGUAGE.

A question... If Finca Parcs have run into financial problems then presumably they will want to sell the whole lot on to some other developer.I would have thought it would be a more attractive proposition with a proportion of the homes already sold, so why are they wanting us all to take refunds??  If we don't accept a refund, would our contracts still be valid if the development was taken over? ie  Is there any chance of me still getting my lovely villa at the price originally agreed?.......!!!!

I have been told that for the refunds process to take place ALL clients must accept the refund.

However, if the situation has changed maybe the poster "Las Higuericas Finca Parcs" may wish to provide a more detailed explanation to you in this forum.

I suspect many clients are confused by the current situation and the sooner that Cleyton GES (Las Higuericas Finca Parcs) provide a detailed statement on this forum and to all buyers and agents explaining the exact sitution then the better for all concerned.

Heard yesterday that an Arab bank was involved, but didn't know about HSBC. Also, that they are not interested in selling the villas, but in renting them out!!.

Has anyone on phases 3, 4 or 5 with a bank guarantee received a refund from the CAM bank yet?

All very interesting and very mysterious, especially the reference to the arab bank and HSBC rumour which does not appear anywhere else that I can see.  I am light years away on phase five so not too worried about that but I also currently have an apartment in Almoradi.  It was new two years ago and an investment for renting out purposes in a lovely village close to San Miguel and Torrevieja, and a very popular golf course. There has been almost no takers at any price so I find it very difficult to see that "the fig tree" will be any more popular for renting, it being in the middle of nowhere.

A very short time ago we were hearing of a lot of arab banks in difficulty, and the "foreigners" leaving the countries in their droves! Still you never know, but HSBC - a very conservative English bank trading mostly in the Far East? Very Interesting.

Sam

This message was last edited by Sam Boddy on 10/10/2009.

This message was last edited by Sam Boddy on 10/10/2009.

well here we are,with another week gone by and still no communication from finca parcs.Does anyone really know what is going on?  Has anyone had their email detailing their next steps? Has anyone without a bank guarantee got any money back?  Are we having our hopes built up to cruelly disappoint us again? 

Max Kite has been employed by Cleyton GES to collate all the data for clients who have NEVER received the legally required Bank Guarantees.

We are a group of Finca Parcs purchasers all without Bank Guarantees. 

We have been communicating with Max Kite over the past week and he seems very efficient - always acknowledges emails etc.  It is important that all Finca Parcs purchasers who do not have Bank Guarantees contact Max Kite on 0034 686 767 921 or email: refundsfincaparcs@hotmail.com as soon as possible.  He needs copies of each purchasers Sales Agreement and Bank Transfer Documents/Receipts.

Below is the email that I understand has been sent to each purchaser without a Bank Guarantee who has registered their details with Max Kite:

Re : No Bank Guarantee claim procedure
 
We inform you that Cleyton Ges S.L. are currently working towards the position to be able to offer a solution to those clients awaiting the issue of a guarantee for monies paid in relation to their reservation of a property situated on Las Higuericas Finca Parcs.
 
In order for us to be able to collate the information for each individual client we require you to email us at your earliest convenience the following information  :
 
1.   Scanned copy of signed purchase contract.
 
2.   Scanned copies of money tranfers documents, proof of payment documents, receipts.
 
3.   If applicable,  details of Lawyer / Legal company representing client.
 
 
If you require any further information please contact us in writing to refundsfincaparcs@hotmail.com 
 
 
Yours sincerely
 
Max Kite
 
Administration Department
 
Finca Parcs Refunds
 
I think most purchasers must by now have submitted the required information to Max.  We are now waiting for the next official communication from Cleyton GES which should be the Notification of the refund amount including 6% per annum interest from the date of reservation, Sales Agreement Cancellation Documents and copies of the proposed Bank Instruments/Guarantees/Bonds.
 

I have purchased a house in phase 3 and seem to be one of the fortunate ones who have actually received a bank guarantee.  However I have been using a solicitor to try and obtain my refund but have had little to no feedback.

Has anyone actually received a refund on this phase?

In fact is anyone receiving their reufnds on earlier phases either.

There seems to be no official feedback coming from Cleyton Ges.

Does anyone know what is actually happening?

Terry

Yes you are very lucky to have a Bank Guarantee!!  Many Finca Parcs purchasers never received the legally required Bank Guarantees from CAM Bank.

You can now execute the Bank Guarantee yourself directly with CAM Bank.

Send an email in Spanish to the following person.  He is dealing with the Cleyton GES/Finca Parcs issue at CAM Regional Office in Murcia:

ENRIQUE SOLER LAPUENTE
subdirector oficina 0346
tfno.00 34 968 22 86 68
esolerl@cam.es

In your email quote your full name, address, contact telephone number, email address, Plot Number, Bank Guarantee Number and Bank Guarantee Value.  Don't forget the email must be in Spanish.

You will then need to send him a letter in Spanish requesting a full refund of your deposit covered by your CAM Bank Guarantee with the addition of legal interest.  He may also need a copy of your Bank Guarantee and Sales Agreement.

Hope this information is of help to you.

If you have not already done so then you should also register with Finca Parcs Refunds as Cleyton GES have employed the services of Max Kite to compile a complete database of all Finca Parcs Purchasers with and without Bank Guarantees - contact:

Max Kite
refundsfincaparcs@hotmail.com

0034 686767921 (17:00 - 20:00 Spanish time / 16:00 - 19:00 UK time)

Kind regards

Keith

 

Dear Keith,

thank you very much for your quick and informative reply- i will get onto it right away, although i would have though my solicitors would have already tried these routes.

Do you know if other purchasers have actually received a refund as yet?

Terry

There are some postings on other threads in this Finca Parcs forum where purchasers say that they have received a full refund by executing their Bank Guarantee with CAM Bank.  Maybe you could send one of them a Private Message to confirm.

Your Lawyer should not have a problem executing your Bank Guarantee now.

Here is a statement made by CAM Bank on 1 October 2009 to Laverdad - a Spanish newspaper.  Original Spanish version first and then the English translation:

CAM Bank Statement published by Laverdad  -  1 October 2009

La Caja de Ahorros del Mediterráneo (CAM) explicó ayer, por medio de su servicio de comunicación, que participó en la financiación de la primera fase del proyecto de Las Higuericas, en la que las casas han llegado a construirse, a falta de su licencia municipal definitiva. Finalmente, ante la situación actual, indicaron que «a todos los clientes avalados por nosotros se les va a devolver el dinero; este es el procedimiento habitual en estos casos».

Añade la entidad que cualquier cliente que tenga un aval con la CAM puede dirigirse a sus oficinas para gestionar esta devolución sin problemas, por lo que en estos casos no deben tener inquietud alguna por su inversión.

La entidad confirmó que, por el contrario, es una cuestión ajena a ellos, en la que no pueden entrar, la situación de quien no posea un aval con esta caja, situación en la que se encuentran otros inversores de esta urbanización hellinera.

Caja de Ahorros del Mediterraneo (CAM) said yesterday, through its media service, that it participated in the financing of the first phase of Las Higuericas, which has houses completed but is without the Licence of First Occupation. Finally, given the current situation, CAM said that "all customers that have a Bank Guarantee will have their money returned, this is the usual procedure in such cases."

CAM adds that any customer who has a Bank Guarantee with CAM can contact their offices to manage such refund without problems, so these cases should have no concern whatsoever for their investment.

CAM confirmed that, by contrast, is a question foreign to them, which it cannot enter, is the situation of persons not holding a Bank Guarantee.  This is a situation in which many other investors in this Hellin urbanization find themselves in.

Can any-one who has used the services of Pablo at BP Spanish LAwyers of Brentwood please private message me

Hello Everyone,

I had contracted to purchase an Esther Model on the Finca Parc Development and was going to purchase via my UK Company to protect against Taxation in Spain. I have now received my deposit in full and it is currently sat in my bank account in Spain. I have read that some people have been fortunate like myself and been refunded with interest and it seems it does not make any difference if you were purchasing as an individual or a Company then you can get the money refunded to you. My Consultant who has offices in the UK and Spain took about 3 months to receive my money on my behalf and has also received the money back for 2 of my Business partners who committed to by on the development as well. If anyone would like the details of my Consultant who dealt with the legal work to request our money back then please let me know.

Official Statement from Cleyton GES - 9 November 2009

Sent by email to all purchasers registered with refundsfincaparcs@hotmail.com


Dear Sir/Madam,

First of all we would like to thank all the clients who have sent through copies of documents in reference to the purchase of a property in Las Higuericas.

To date, we have collated approximately 95% of all of the documents necessary for us to calculate the precise figure for the new investment company.

Until we have a 100% of the documentation it is not going to be possible to give the exact completion date for each client but we are hopeful to be able to give all concerned a solid date by Christmas.

May we reiterate the urgency and utmost importance that the few outstanding clients contact us by internet or telephone to facilitate the transfer of documentation, so that we can bring closure to this complicated situation.

We have reached a provisional agreement with the construction company DRAGADOS S.A. to receive payment by means of a “Bank Guarantee”.  They are happy to receive a bank guaranteed payment, from us to them, for a predetermined period.

On the other hand the negotiations with the CAJA DE AHORROS DEL MEDITERRANEO (CAM) have been far from satisfactory.  In fact they have made the situation almost untenable.  Even though CAM is making the situation difficult, the investment company is still trying to come to some kind of solution, but this may have to be backed by another international bank.

To sum up the situation, all parties working for a solution have not stopped despite the difficulties and will not stop until everybody has a guarantee for a predetermined date in their possession.

We appreciate the patience of all clients and agents involved and hope that soon we will be able to bring closure for all concerned.

Regards,

Finca Parcs
 

Hi  everybody,

Just thought I would let you know that we have finally had our deposit refunded into our Spanish bank account!!! So CAM are honouring the BG´s and have paid the interest. We were one of the lucky people that did have a BG for phase 4. The whole process has taken a long time and has cost us in total about 6000€ which has included all the solicitors charges and extra legal costs.

We moved back to the UK last October and have now bought a property back in dear old Blighty and could not be happier after all the hassle and disappointment of Spain. Good luck to everyone still trying to get their deposits back.

Hi

Can you please tell me whether interest on refunds was paid from the date of the payment or the date of the guarantee.

And can legal costs be claimed back as part of the refund?

Thanks

Taz

Hi Taz

According to Spanish Law, in particular, LEY 57/68, a bank guarantee must be issued immediately following payment of a deposit for off plan housing.  Many of the Bank Guarantees issued on the Las Higuericas development were issued some months after the deposit payments were received by Cleyton GES & CAM Bank.  To delay the issuing of a Bank Guarantee is strictly against Spanish Law.

When you execute a Bank Guarantee legal interest is payable from the date of the deposit payment and not the date of the Bank Guarantee if, illegally, it was issued at a later date.

Please also note that a Bank Guarantee must not have an expiry date.  A Bank Guarantee only expires when the Certificate of Habitation / Licence of First Occupation is issued by the local Town Hall.

It should also be possible to claim your legal fees as part of the refund as you are the innocent party.

Kind regards

Keith
FINCA PARCS ACTION GROUP

email:  fpag@btinternet.com