18 Apr 2008 12:00 AM:
Hi to everyone who has issues with Grupo Urbasa and in particular with one their developments in Almoradi, Edificio Amarion III. I'd very much like to get in touch with anyone that is in the same situation as I am.
I bought a property back in early 2004. Delay of completion is now over a year. I met in July last year with then Managing Director of Grupo Urbasa in their offices in Elche as I wanted my money back as per contract in the light of the great delay in completion. Still have not to my money back despite of my almost weekly calls. I have now put the matters in the hands of my Spanihs lawyer. To give you a bit more info, I have also spoken this week with the Ayuntamiento (Town Hall) to stablish whether perhaps they have stopped progression of building, but this is not the case, as I have been told again that Urbasa have internal problems one of them being the site manager left over 1 year ago and they cannot get credit from the banks (my theory is that our deposots were spent in initiating other buildings and thing got out of hand. The rumour is Almoradid is that Grupo Urbasa has done "suspension de pagos" that is bankrupt. My Spanish lawyer already sent Urbasa a burofax legally requesting devolution of my moneys due to breachh of contract - we got no reply at all. We have now send a burofax to Banco Pastor who is the financing body of my propety and many others in that area. Our hope is that either the bank or an insurance company should be backing up our moneys (according to a Spanish law passed back in 1967. We still waiting for a response. I have been advised by my lawyer that if we do not get a positive response from banco Pastor the only way forward is to go to the tribunal court via penal. This will have to be handled by a lawyer in based in Alicante. My lawyer has also mentioned that a joint case would be more powerful that individual ones and no need to mention that shares costs incurred by lawyers and the court would be lesser. We have a pretty nasty scenario and will take months to resolve - not necesarily to a positive one.
I am hoping to be able to join in this.
SMC
Thread:
Grupo Urbasa
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