13 Jan 2010 2:44 PM:

I spoke to pW yesterday and was informed that Credit Suiss and 5 smaller banks have cleared all the debt outstanding with PW  to the value of 100, million Euros

And that now Polaris world are Dept free to continue building.

 

I understand the deal was agreed for the banks to own condolo

Community thread: Construction??????

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13 Jan 2010 12:00 AM:

I was out in Torre Pacheco in September last yr and was informed by PW that the Las Terrazas De La Torre town centre is now under construction.  Having spoken to Polaris World only yesterday, for a progress report, I was informed the island is also under construction too!

I also mentioned about the IrwinMitchel comments on their website saying Polaris World was bankrupt. With this in mind,  I frantically tried to contact PW as I have purchased a penthouse on the island. I was informed that on Monday of this week it has been agreed via Credit Suiss and five smaller banks to pay off all of PW debt to the value of 100, million Euros by taking ownership of Condolo Alama resort.

Should this be the case then its great news for all of us as Polaris World clear all dept and regain their strength as a leading contruction company in Spain.

If anyone has hany pics of the island construction please mail them to me at stephen dot j dot etherington at googlemail dot com

Community thread: construction of the town centre and island

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