I HAVE JUST COME OF THE PHONE WITH ANCA

AND SHE AS TOLD ME THAT SHE KNOW NOTHING ABOUT URBASA GOING BANKRUPT

SO I HAVE ASKED HER TO TALK TO HER BOSSES AND LET ME KNOW BY EMAIL IF THEY ARE GOING TO GO BANKRUPT OR NOT

( IS THIS JUST A RUMOUR GOING AROUND SPAIN )   ?

SHE ALSO SAID ALL THE OFFICES ARE STILL OPEN 

BUT THEY ARE STILL HAVING PROBLEMS AND THAT IS WHY AMARION 111 IS IN THE SAME SITUATION

WITH THIS INFO HOPEFULLY WE DONT NEED TO PANICK AS MUCH

GOOD LUCK EVERYONE    

WILL LET YOU KNOW IF OR WHEN I HEAR ANYTHING ELSE

 

This message was last edited by philansy on 2/6/2008.

Hi everyone hopefully i have some good news here we go !!

got the email from urbasa this morning it said

First of all we would like to apologize once again for the entire situation and for the delay in answering your questions.

 

It is true that our company is crossing a difficult situation for a year and a half approximately, due, in big part, to the crisis in the construction industry and financial sector that is affecting Spain and has a negative impact in our company because it impedes obtaining finances and the sales of dwellings are stagnant right now.

 

In reference to your question we want to say that we are not going to bankrupt. Despite the situation, we are working very hard to obtain finances in order to solve this situation and carry on with the commitments to our clients. We expect to finalize some financial transactions in order to reinitiate the works in the building as soon as possible and comply with the handing over of the dwellings.

                                                                                                                           i hope this is true and it puts all of you at ease

Havent looked on site for ages and reading everything previous to this news was really worried but hopefully things might start happening soon .  When we signed my daughter had just been born and shes just about to turn 5, so who knows maybe we will be in before she reaches double figures!  Do you have the new email address for Urbasa please.  Thanks

Danny

Hi danny and welcome to the site  the email adress is

urbasa@grupourbasa.com

and you will need to speak with anca she is the one that speaks english

hi,everyone,

   we had meeting with lawyer last thursday he said news not good.bank have taken over all urbasa properties. bank is looking to get someone to finish devlopments,or if not will try to sell them on.advice is that we need to speak to lawyers who deal with these situations,he did give us details of a firm in torrevieja, said we should be able to get money back,we could go it alone, but would be cheaper,and possibly better to all get together. he says they all speak good english,and are used to dealing with this problem.anyone want details let me know.

    weather while we were there was in 80s.

well dont know what to say here but best of luck to you all

i hope everything goes agording to plans,  but i cant weigh everything up according to urbasa they are the same as they have always been

acording to some solicitors we are in deep sh- t

and need to start court proceedings b4 its to late - what do we do from here - that is the question

 

anyhow best of luck everyone

This message was last edited by philansy on 2/14/2008.

I would like to join any group to reduce our legal fees in trying to get our money back .   I have emailed my details to el robbo and philansy

sorry i cant join any group for i have allready started legal action

best of luck everyone

hi , has anyone heard anything from urbasa, tried sending e mail to anca but it came back,sent another addressed to urbasa, but had no reply.have asked them to send paperwork for termination of contract as they are in breach.

we have sent details to solicitor we were recommended to and are waiting a reply.

is there anyone who could form action group, due to ill heath we are  not able to do so

       regards

                 stuart & christine 

We're not sure which way to go on this.  Having spoken to a Spanish lawyer he says they are not likely to pay anyone anything back voluntarily.  It seems there's so many differing stories of how things are you don't know what to believe.  We've not heard from Grupo Urbasa or Palmera in a long time and they haven't replied to e-mails, or letters sent via Airsure delivery and as these are trackable all the way we know they have received them. We feel a group representation is not for us as we've already got a lawyer, trouble is if you want to cancel, then win in the courts there is no guarantee they will pay you back, and even if they agree to it could be a hellish long wait.  If you are following the Costa del Sol Action Group you will see they've not got far in ages, Palmera and other agencies are involved there, so it's a waiting game.  Spending more money could bring about a hollow kind of victory, but how much longer can we wait, for us it's been well over five years already, and no end in sight.  Good luck to all whichever way you decide to deal with this.


This message was last edited by wotnocasa on 2/24/2008.

 

HI ALL

 

I E MAILED URBASSA FRIDAY AND THEY GOT BACK TO ME THE SAME DAY. I AM  OVER THERE FIRST WEEK IN MARCH AND HAVE REQUESTED AN APPOINTMENT TO SEE THEM.  THEY HAVE SET ONE UP FOR ME. WILL JUST ASK PLENTY OF QUESTIONS - NOT THAT I EXPECT TO GET ANY TRUTHFUL ANSWERS BUT I CAN BUT TRY...WILL KEEP U ALL POSTED.......

BYE FOR NOW

MISSY 

who did you contact at Urbasa as we have been trying since Xmas to get a reply - we are also in Almoradi next week and are going to try & speak to someone

We placed deposits on two properties in an Urbasa development called Residencial Meridian in Benissa - that was four years ago and it is still a hole in the ground.  Everything I read regarding Amarion III confirms my worst fears that we are unlikely to get any money back.  Anyone else invested in Meridian?

 

Can remember a year or so ago some one asking the same question on here maybe if you scroll through all the messages you may find it, but like you don’t hold out any hope of recompense. I am taking the legal route soon but am wary of just throwing more money away. I have  just got back from Spain  Amarion 111 is just the same a bomb site, of the boilers that had been delivered recently only 2 remains now the patio doors have been smashed so whoever could get them out.

One bit of news is that 3 workmen / gardeners were working on the land at the back of the development dont know who were employing them as my spanish is garbage apart from in  bars where I get by easily but I am sure the land is part of the development.

HI TO ALL

PLEASE READ THIS

 

Have just come back from Spain 5/ 3 / 2008 and had a very indepth meeting with Urbassa bosses It appears that one of the main problems is this guy called Honario who is a algeian living somewhere in Morroco it seems is one of the main hold ups on the situation.  As explained by Anca and her boss when the plot first came up for sale this honario guy paid something in the region of 15% percent investment  payment ...palmera would then sell the plots for him, thus making a little profit...but it appears that not all the money has come back from him/palmera properties which is why this internal audit has to be carried out.  They have been trying to speak to honario direct for the last 12 months but to date have been unsuccesful and only get to speak to his advisors.  Urbassa feel that he is not properly aware of the situation as he apparanlty a multi millionare and of course we are probably just small fish in comparison, but think they he has been ill advised from his advisors.  Urbassa want to take legal action against him and Palmera -if they dont co op but without all the paperwork needed for the internal audit - they have not got enough in there figures to present to the court.  Palmera apparntly have also been forging signatures from the builders...They urgently have requested if everyone can send through there papers, payments etc etc so that they can also move forward. thay have only recieved 30% off the feed back they required becauce people have been selling on to 3rd partys We asked how long they were prepared to wait for all papers to come through and they replied by September...ish......they will then start procceedings.  They are fully aware of the eye on spain site, and feel that we are all receiving wrong information and they really want to finish this build which is 90% finished with which will take approx 3 months to finished but without our support its going to take a lot longer.  We asked if they applied to the bank for a loan to finnish ammarion - they said they have tried with several financial institutes but because of the slump in the spanish market this is an impossible route.  They cannot afford to lose any more money on Amarion before they receive any of the money that is due to them!!!  There aim is to finish the build and feel with our backing this is possible - also if they have to go with the legal proceedings on Honario - it will be more backing with us.  They have said ' Please - if anyone is in Spain to please go to the office which is in Elche "15 rena victora" which right in the centre and they will be more than happy to sit and go through it with you / or alternativly to call them. also palmera solicitors are trying to help as much as they can.

So im afraid once again not good news - but i certainly felt a lot clearer on the situation leaving the office and i did feel it was a very open honest meeting.

hi folks - we have just returned from Almoradi & we have a different story. We have been to see a solicitor who has been acting for a group of people who are buying in Almeria from Urbasa & they are telling us that Urbasa have been bankrupt for the last 12 months. There are lots of different companies under that umbrella & it depends on which company your contract is with. Also, the bank have now started to repossess Urbasa's properties & selling them at auction & if that happens to Amarion 3 then we have lost everything.

We have paid them 60 euros to read through our documentation & to check the land registry as that will tell them if the building has been repossessed or not, and then they will advise us whether it is worth it to start proceedings against them - we are not holding our breadth.

Also, the local toe rags are systemactically stripping out the building - we saw one car pull up & take a load of copper pipe & talking to the people living in the building behind they are now taking the doors & frames!

But, if Urbasa are telling us to go & talk to them why are they not answering their emails etc? & why will Palmera not talk to us - we have never been nasty or upset with them - we just want to get on with things & get to a conclusion.

Sorry to have put a different slant on things, but these solicitors we have talked to are in court prceedings with Urbasa.  

 

 

Has anybody been successful in getting there money back from urbasa?.

Martin & Debbie

NO NOT YET

I DID GET TOLD FROM SPANISH LAWYER THAT SOMEONE DID GET SOME MONEY BACK BUT DONK KNOW WHO  NEVER HEARD OF ANYONE ELSE GETTING OUT BACK THO

 

 

If Urbasa has gone bankrupt are they not required by law to advise both secured and non secured creditors of this fact?

If Amarion had been sold onto someone else then surely the new owner would have done something to protect their investment ie at least to have some security at the site?

are these thieves not being reported to the local police or is it open season on empty properties ?

If under new ownership why do they not notify all us existing buyers so they can proceed  to finish the build and we all can complete on our purchases? otherwise for them to look for new buyers would be  folly as the market  is rubbish and will keep falling for at least this year and probably next year as well. what a choice to have ready made buyers and realise your investment within months or to look If for new non existent buyers in the next year or so?

is the moroccan/palmera scenario true or not? what do urbasa hope to gain by lying? perhaps another six months extension  from all us/creditors another half a year of our lives gone so they can have time to dispose of their assets who can know?

lots of questions but to me they are all reasonable its only the answers which have been in short supply

bill

Quote From Bilcars post

 for them to look for new buyers would be  folly as the market  is rubbish and will keep falling for at least this year and probably next year as well. what a choice to have ready made buyers and realise your investment within months or to look If for new non existent buyers in the next year or so.

 

This is the fact that worrys me most as to non completion of the development I just cant understand their financial logic, many similar properties are now for sale on the Costa Blanca at what we would have paid in total complete with kitchins  fittings etc ,in my opinion it wont be long before people will just  walk away from Amarion and buy for the same total outlay  leaving Urbasa trying as Bilcar states finding buyers in a depresed market place