10 Jul 2008 11:28 PM:
Hola Todos,
With regard to the monies held in a secure Bank Account. It has been stated earlier that the creditors list supplied by Herrada del Tollo included 1500 creditors.Assuming an average deposit of 30,000 euro that comes to an initial deposit of 45,000,000 euro (45million euro ) on a secure account ( that cannot be touched we are told ) this money placed on the money markets gaining interest at 6% brings in another 2.7 million euro a year. Since monies are there from 2005 it should now be well over 50 million euro. Lucas Associates state that there is 39,000 euro ( I hope they meam 39 million euro ) on deposit at the Bank. Where is the missing 11 million euro ?.
In the article published in the Costa Blance Times by Nuria Parez she states that " San Jose face a bill of nearly 4.5 million euro for another 200,000 square meters of land and other smaller plots which they do not own " Once the land has been paid for , the remaining administrative procedures will be carried out "
I cannot understand that if San Jose have all this money on deposit in a secure account why the Spanish Banks are reluctant to facilate San Jose with 4.5 million to complete the purchase of thr remaining plot of land to secure the future development of the project ?. Can anyone throw any light on this ?.
saludos.
Community thread:
Colds and Stuff?
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