22 Nov 2009 2:09 PM:

There is little doubt that the potential is there for the developers to "go after UK assets" if they get a judgment against an individual who does not complete, or after Irish, French or other EC country assets, if the individual is domiciled in the UK, Ireland or other EC country. This was provided for in EC Regulation No. 44 of 2001. As Roy points out this can be done very easily in the case where the proceedings in Spain are not contested as EC Regulation No. 805/2004 provides for this. In Ireland these regulations were implemented into Irish law by way of Statutory Instruments and no doubt similar provisions were implemented in the UK to allow for the recognition and enforcement of judgments given in another EC country.

The developers may be slow however to seek to register a judgment against one's family home by e.g. registering a judgment as a mortgage against the property and ultimately seeking a sale of the property to get the money awarded by the judgment but we can't be sure of this at this stage.

Kev 2 you say that you have taken steps to get your deposit back. I'd consider going down this route myself if I thought there was a possibiltiy of succeeding. As regards the potential for the developers to hold one's deposit indefinitely I would think that courts would not approve of such an open ended arrangement. However it appears that a Spanish court has fairly recently held that Calidona could not be held responsible for the delays which were blamed on the Local Authority which was very slow to process and issue building licences etc.

Crosser

Community thread: Legal Action Against Non-completion

--------------------------------------

06 Feb 2009 8:10 PM:

Hi Gina,

I agree that sussing out the property values in the current economic climate would be a fundamental step in peoples deliberation for a number of reasons. The property market is virtually stagnant here at the moment and I fear that the same applies in Spain so that values have nose-dived. I'd certainly appreciate hearing about your findings from your trip.

Both yourself and Frank acknowledge Lisa's efforts in England. No doubt she must have a great overview at this stage of all the issues and her ideas/suggestions should be very welcome. As far as a meeting is concerned I will be out of the country between the 7th and the 21st of March but should be able to attend a meeting on any other weekend date.

Hi Frank,

They dont call us rebels for nothin.

Regards

Bob

Community thread: Group Meeting in Ireland

--------------------------------------

05 Feb 2009 7:18 PM:

Hi All,

Thank you to those of you who have responded to my initial posting about a meeting in Ireland. My motivation for the posting was to throw the question out there to see if there might be an interest as I'm sure that a meeting at a venue in England may not be convenient to many people in Ireland. I had not considered the matter beyond this.

I had suggested that Dublin might be a convenient location for a meeting although it would not be an absolute necessity that it be held there. I myself live in Cork which I would imagine would be just as inconvenient as a meeting place for people for example from Belfast.

As for myself I am not sure what to do as far as my Corvera investment (in Phase 2) is concerned. It seems that my options basically boil down to whether I want to "walk away" and lose about €80K or go ahead with a purchase of a property with a greatly reduced value for an inflated price. Not a nice choice. Somehow I cant see the option of chasing a return of the deposit monies as a realistic possibility.

As regards a get together is concerned I'm also not sure what we might achieve but other peoples take on the situation is always welcome.

The next question of course is would anybody be willing to take the initiative to organise such a meeting and also would the level of interest warrant the effort?

What are your thoughts folks.

Regards

Bob

Community thread: Group Meeting in Ireland

--------------------------------------

01 Feb 2009 12:00 AM:

Hi All,

There appears to be quite a number of investors based in Ireland. Would such individuals be interested in a meeting in a central location. I would think people from Belfast to Cork might be interested. Dublin would appear to be the obvious location for such a get together.

Lisa Mona appears to have arranged a very good meeting in England and it may possible to coordinate the approach to be taken.

Regards

Bob

Community thread: Group Meeting in Ireland

--------------------------------------

31 Jan 2009 9:59 AM:

Hi All,

What is it people are afraid of if Calidona see whats going on on this forum. A good team of lawyers, which no doubt they have, will know the avenues open to the purchaser in any event. They will also be aware how the Spanish courts are leaning in cases taken by purchasers against developers.

What is the secrecy supposed to achieve? So what if Calidona realise that people are considering legal actions be it class actions or otherwise.

 

Regards

Bob

Community thread: Group Meeting in the UK?

--------------------------------------