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JAm
Such a sensible reply as allways. So will you share your BG money with those in your group who do not have one and you encourage to go for the money?
I do not think so. I suggest that those of us who do not have BGs really need to ignore yours and the others with BGs and do what is best for us and that is to go for the house.
SO I WANT MY HOUSE AND I WANT ALL OF THOSE WITH OUT A BG TO GO FOR THEIR HOUSE TOO!
Tony R17 18
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I have never said what was the " best " way all I ever pointed out was not to keep all eggs in one basket and that what ever you wanted there was more to be done than sitting waiting for a house and doing nothing else to protect their deposits..I have said on numerous occasions that if the houses could be built it would be best for those without BGs to have them .Now listen very carefully Tony what I have said many times and will say again is that in all likely hood the houses are NOT going to be built. .
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Hi JA,
Thank you for stating that getting the property is the best option for purchasers without BGs even though you do not have confidence in the continuation of SADM .I and others do believe and support the continuation of SADM, which WILL protect the deposited money of all and in particular those without BGs.
Until the negotiations are concluded and until the court decides on the options, there is still all to play for and that is why you and the others keep trying to talk SADM down. You are not posting out of a sense of altruism.
IWANT MY HOUSE
TONY R 17 18
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Dear All,
It has been a week since Linda and David met with Almudena and the report has now been circulated so I ‘phoned and asked Almudena about the refinancing.
I have been informed that there are two different parties being negotiated with and that an agreement is close to being agreed. One of the parties wishes to purchase 50% of the San Jose Group of companies and that the other is only interested in SADM. The party that is interested in Herrado Del Tollo and SADM plus has the funds readily available to cover the 4.5 million Euros for the expropriation of the land and cost of the final build licence from the town hall.
I was informed that the administrators want the refinancing agreement to be completed and signed before they return to the court with their report.
.I contacted Almudena via e mail and asked for confirmation of the situation with purchasers with BGs.
“Almudena had a meeting last week with the administrators and lawyers of some clients of Santa Ana. They discussed the matter concerning those clients with and without BG. The lawyers wanted the resolution of contracts for their clients and the Administrators told them that they would agree to give a resolution to those with bank guarantees but not to those without because it will not help these clients as this doesn't mean they are going to receive the monies sooner. No, this is not how it works. They are creditors as will be part of the "Convenio" and monies will be returned to them when and how the Judges rules.
They have agreed to a resolution of contract to those with BG but only if they do not request interest on the monies, as if they do, then a resolution contract will not be signed. If they give up their interest, then the resolution contract will be signed and the bank will return them the monies and then the bank will inform the Court that they have returned to such client, such amount and that now the named bank is now creditor for that amount.
Conclusion, it does not speed up the process just by having a resolution contract signed, specially not to those without the BG as this will only cut down their options. ie, continue with property, cancel the purchase or any other options that may arise at that time.
We will only give a resolution contract to those with BG and that do not request interest, NOT to those that do request interests.”
Opinion:
From the above I conclude that the directors of HdT and SJ are under pressure from the administrators to conclude the refinancing and I feel that the probability of SADM going ahead is high. I further believe that purchasers should wait for the courts decision before rushing into any binding decisions and leave their option open as to whether they wish to have their property or to become a creditor.
14 Oct 2008
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Tony I think you should try to think all this through .If people with a BG decide to do this they are forgoing any interest ,claim for legal and court costs and above all any future claim on SJ/HdT ie if the banks refuse to pay they are stuffed (oh !!!! Almu said they will !!! dont go there Tony )
.This whole scam is nothing but blackmail and still you prefer to side with the culprits You have never once in all your meetings challenged the illegal actions of SJ/HdT and the real reason we are all in this mess .
All they are trying to do is off load creditors as they know full well they are going down .Your statement about wanting to have finance in place before reporting to the judge is farcical,of course this is what they want but it does not mean they will get it .
Once again Almu said jump and Tony asked how high .
You accuse me of many things Tony but at least I am not trying to push fellow purchasers over Niagara falls in a barrel . Making out this is some kind of good news or closure for people with BGs .SJ have had my money for 4+ years now and they have the audacity to hold a gun to my head and deny me what I am legally entitled to , Get real Tony if you side with the enemy be prepared to get shot down with them. You had the cheek to suggest earlier that losing the interest was a problem ,use your brain Tony the implications of this scummy deal could do far more damage than just losing people their interest .You are truly the most stupid person I have ever met .Get a brain Tony Shame on you .
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Just me Malc or would you like to know everyones interests in SADM .Perhaps you want scanned copies of contracts ,BGs , death certificates and wills as well just to be sure who has interests and where .
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JA i just asked for yours, if you dont mind, why go on about birth certificates, wills ect. bit silly really, a simple quetion or are you having problems remembering what you said before?
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JA i take it from your pm you just sent to me you are not going to answer me then? also still awaiting proof of this threat you had. You arent struggling are you? a person who has so much to say, oh by the way where is GARCIA? see them lately? how about FIN?
LOLOLOLOL
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Hi All,
I do think that it is quite clear that those with BG's are OK for getting a full refund, and as we said for the MAJORITY of us without BG's it would be better for the developement continues and I do hope that we are in a phase of negotions that this may happen PG so keep your peckers up and maybe we will get what we want
Brianmags
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It would appear that, from news I have received about the ongoing negotiations with all concerned that those with a BG, will be able to get their money back, by having their contracts reversed, and the banks to pay out.
Those without a BG however, have a couple of options.
They can either wait.......or sue SJ/HdT on a separate court case, asking for the contract to be reversed.
We have been advised that this is not recommended because it really has no advantage on our position as a creditor and will mean extra fees and costs to pay. Only if the court ever decided to proceed with the construction, and we were not interested at all in having our house built, then it would be wise to consider having our contract reversed and getting our money back.In any case, we don’t see any chances at all on the site continuing (at least before formal bankruptcy is declared) so the effect will be the same as soon as the Judge decides the creditors have to be paid back and all contracts must be reversed.
In any case, they don't see any chances at all on the site continuing,(at least before formal bankruptcy is declared), so the effect will be the same, as soon as the judge decides the creditors have to be paid back, and all contracts must be reversed.
_______________________
Baz & Sue R10 - 36
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The proper and only way to get a court decision about the resolution of a contract is presenting a lawsuit to the Court. My lawyer has done this and it has been accepted and registered by the Court.
Interest and Court fees will be charged to SJ under the Courts instruction. SJ can squeal all they like but they will be stung heavily .
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Hi Taxiparrots, thank goodness someone else's Lawyer has done this. I was beginning to think I may have been had again! That is exactly what mine has represented me in Court early this week to do. If I had a BG, I wouldnt hesitate to get out of this situation and start again.. but for those of us without I hope if all assets are sold, or re-financing is found or indeed if they go ahead with the SADM project in the never never future, that I can get all costs and interest lose listed. If we dont pay for Court now, I still believe it's just delaying the inevitable.
Sal 
_______________________
Sal
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Hi All,
It is up to you all what you do but spending money going to court to become a creditor when you will be given that choice by the courts soon does seem a rather odd choice. Why on earth spend more money when there is no need and solicitors are not recommending it. I think those of us with out BGs really need to think carefull of how we can come out of this with the least finanical damage and hopefully get a positive outcome. And if the outcome is that SADM is going ahead what will you do, take the property or become a creditor? 2 options but before leaping in and ranting about SJ/ HdT etc, stop and think....if you do not go for the property who are you damaging? Not SJ/HdT. The only reason you should have for not going for your property should be based on cold logic not an emotional response. Think hard and whilst you are doing that try to be calm for a few weeks longer and lets see what the court says. Makes sense to me.
My choce is allready made " and the song remains the same"
I WANT MY HOUSE
Tony R17 18
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