13 Sep 2007 12:42 PM:
Hello All,
I have just come out of a two hour meeting with the sales director of Grupo Urbasa in Elche and the following points are relevant.
1. From the outset Palmera Properties knew that the completion date for Amarion 111 was October 2007.
2. The whole of the apartment block of Amarion 111 was bought by an Israeli investor in 2002 who then employed Palmera properties to sell the individual apartments.
3. Palmera Properties will not give Urbasa the details of the Israeli investor or his contact details.
4. When individuals bought their properties from Palmera , the sale was regarded as a resale and not off plan.
5. Grupo Urbasa have got severe financial problems.
6. Grupo Urbasa as yet do not have a builder to complete the building of Amarion 111, but they say that they are looking for one.
7. Grupo Urbasa state that onbce the building recommences it will take up to 4 months to complete.
8. Grupo Urbasa state that they have until the end of October 2007 to complete but that they do not expect it to be completed this year.
9. Palmera Properties are ignoring requests from Grupo Urbasa to arrange a meeting between them and for the details of the Israeli investor who is totally unaware ( according to Urbasa ) of the situation of Amarion 111
10. Palmera Properties did not tell Urbasa that they were closing their Alicante offices.
11. Palmera Properties were aware in 2004 (april) that Grupo Urbasa were experiencing financial difficulties.
12 Grupo Urbasa have nmot received the full amounts of the depositsm from Palmera Properties.
Legally speaking nothing can be done before the end of October. The impression I got was that Grupo Urbasa were being quite truthful and that they have been kept in the dark by Palmera properties.
I also got the impression that if Grupo Urbasa was sued for the deposits that they would experienc difficulties in paying them out to people who have bought.
Vijam
Community thread:
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