Car hire Alicante - any recommendations ?

All

Went to our solicitors this morning and some interesting developments and clarifications - remember this is our own solicitor's comments and will surely conflict with what others have said but I'll share it anyway.

Official Bank Guarantees - none have been issued regarding Santa Ana del Monte regardless of the piece of paper you may have in your possesion unless it has one important word on it  'AVAL' - the AVAL is provided by the Banks and issued to the buyer and seller. If you have this, you can go straight away to the bank and get all your money back immediately. If your paperwork is not an AVAL, get in the queue with everyone else. the solicitor has made checks and he has been informed that no AVAL's were generated for this urbanisation. What you may have is a piece of paper that indicates how much money you have paid so far and what you can claim for should the property not get built, but to do so you have to go through the length Court process.
Timescales - we have been told to wait anywhere between 2-5 yrs, nearer the latter for this all to be complete and do not expect 100% of the deposit to be returned
Administrators - are compiling 2 lists, the 'own', basically the assets - and the 'owed' - the creditors. They will judge from this completed list whether SJG can continue trading or whether they go into liquidation. If the latter, all the assets will be sold off and proportioned out....thus they doubt we will receive 100% back if this is the case.
Creditors List - the 30-day period will become active during September however do not wait for this. Our solicitor has this afternoon presented all of our paperwork to the Courts in Alicante as a creditor and we are one of the first on the list......no need to offer advice here. Those that have also used our solicitor, i believe yours has been presented alongside ours but worth dropping an email to Miguel / Geraldine or Diane.

Charges - make sure you have a full quotation from your solicitor. You may only have been told the solicitors cost, i.e their own personal charges which do not include expenses such as Courts costs etc. A ball park should be around 5-7k, if it is less then definately query it and get onfirmation it covers all your costs.
IWMH campaign - Obviously you have your own agenda but you will have to wait a further 5 yrs possible to realise your dream, but also remember, this has tarnished the industry and in particular SJG, with many suppliers and contractors joining those on the creditors list. 
Deposits - I would like to hear clarification from within SJG that our deposits have NOT been used for building costs. Although it is a legal obligation to keep monies in an ESCROW account, some builders have been known to use it to commence building whereby bank's have held back funding whilst awaiting licences....basically illegal commencement of the urbanisation......and a good reason why AVAL's have not been issued. (Pilar, please can you confirm whether all our deposits are in secure account facilities.
I.V.A Inclusion - Our contract and financial breakdown clearly states that I.V.A has not been proportioned will be added on upon completion of the property, not mid payment therefore we do not need to go back elsewhere and claim this proportion. This has been comfirmed by our solicitor. Well worth checking your own contracts as I know of some that have the initial deposit included of IVA

think that is about it.......so what shall we talk about for the next 3-5yrs

Darren

This message was last edited by Darren_Michelle on 7/1/2008.

AVALA   translation       it guarentees

GAME OVER

Will the last person leaving the Spanish Builders offices please lock up........and throw away the key.

My BG for my El Pinet  property has AVALA on it and none of the lawyers I have spoken to have indicated that this means I dont have to go through a court process to claim on it. I will now try to find out if this is possible.Thanks for posting this info .The price your Lawyer has quoted fits in with what I was told yesterday when I contacted 4 different Lawyers and asked specific questions about the cost of each stage .I think people quoted much less have not asked all the relevent questions.The news just gets worse and worse for all of us .I dont know about anyone else but  all of this is now starting to take a toll on  my health .

Its not just your health or mine Julie.

We have some suffering in our family and now need to build an extension to our property, we can't

We have little things to look forward to over the next couple of years like Daughter wedding, help out with house deposits....all the stuff that families do.

I betcha the owners of SJ have no such worries or demands.

Anyone still want their house?......if anyone has a residents comitee can you give your revised build times......by tomorrow morning

No worries at all are they not on holiday in Maritius or is that just Senora JRM.

Darren,

Once again, thank you for sharing this information.  It makes very sobre reading even though we probably already knew most of it but were hoping for more positive news.  Personnally I very much doubt our funds are safe, if they are it will be the first legal thing San Jose have done.

As for points of discussion for the next 5 years I thought I'd start the ball rolling with a few.

1) How to become a property developer and make millions
2) How to break the law and get away with it.
3) How much interest will we lose by the end of it.
4) How to make money off other peoples suffering
5) Where do we send the baliffs
6) How to take money off people without accounting for it.
7) Who really is to blame, agents, solicitors (not the ones who have helped), developers, banks, town halls, local government, spanish law?
8) How can we bring together all those who have been or are being ripped off and join together to blow this whole thing out of the water once and for all.  

I'm fortunate I have years ahead (I hope), but there are/were people in their 70s out buying property on Santa Ana, who gives a stuff about them.  Sorry but sick to the back teeth.

I have my property and just want my money back, by hook or by crook.

Regards,

Steve.

 

I am going to spend the rest of the day trying to get this on the news .I want people to see this for the fruad it is.

Nothing yet has been confirmed by the administrators, untill then im trying to stay upbeat and positive. (well trying to be)

I have just been on to the UK press association .They said its better to start with the papers that printed the story when SJ first went in to administration.As they may want to follow up.I called the paper  that printed tha article I read  and they said they would be interested in doing a follow up  but would need an email stating any new developments since May whats happening with buyers  etc to enable them to research and follow up a with factual article .Only I am not sure if there really have been any new developments that are fact apart from perhaps numbers involved thier ( first article stated it could involve 1500 uk buyers ) The fact that the bank guarentees etc could cost 1000s to enforce is this news worthy.The Fact that the business of even registering as a creditor could also cost 1000s. I dont  know .Is it even worthwhile to raise awareness of our plight,would anyone in power take notice Uk or Spanish.Any way the paper I contacted is a Scottish paper (broad sheet) but the guy did say the story needs to be out out there to go national ,Tv news etc.Any.way I have his Email he wants me to email details tonight if poss.Of course he asked if I would go public with my details  etc and I said I would rather not mostly for reasons of the job I do.He asked if there was anyone else who would not mind going public .What do others think is it worthwhile or have we got enough on our plates please advice      JA

Julie anne,  i think its worth it, or tho would be better to go international as well coz spain wont wont the bad press. Atleast it would warn/deter others from being stitched up.

Malc

Darren, I have never posted on this site but I am not sure where your Lawyer got his incorrect information from in respect of the Bank Guarantees. 

I fortunately have one and it is clearly marked AVAL with a corresponding reference number and relates to the Santa Ana Del Monte development. In fact it expired and the end of April 2008 and I have been sent a replacement which expires in April 2010.

Jon

Hi Darren,
Many thanks for the time frame that your solicitor projects for the legal action to get deposits back. My solicitor projected a similar time frame and it was very sombering.

I found the  lay comments made by your solicitor about the completion date for SADM quite surprising as this is out side his area of expertise. Although he is knowlegable in law this is not within his scope of practice nor is he compotent to make or give advice out side of his profssional field. So I am very surprised that he did so.

We will only know the time frame and probabilty of the completion of properties when the administrators conclude the process. They will look at all the information and relevant facts and look into feasbilites of finance builds etc and they will inform us alll of what is going to happen. This is all high finance with losts of money and asssets on the table, so they will make very calculated decisions.

As for supliers who are owed money, I do beleive that they will not wish to wait years to get some or all of their bills paid. I am sure that they would prefer a functional company which pays them. But this is conjecture.

The fact is no one knows how long it will take or if it will be built until the administrators complete the process and we hear the news. 

So I am not going to panic, i am going to have my solicitor represent my deposit at the mercantile court and wait to hear if I can have my house and I want them to know that I am waiting to see if I can have it!

Tony R17 18


This message was last edited by TonyMal on 7/1/2008.

Hi jonik my BG says AVALA tranlation       it guarentees
AVAL translates as endorsment .Have you checked yours is it AVALA the same as mine or AVAL .Mine is with SGR.Im not sure any of this matters my solcitor did not mentin this and he has seeen my BG.

Julie Anne, my guarantee was also issued by SGR, avalised documents are used frequently in international trade and mean that guarantor has made a provision for the liability.  I am not sure how this impacts on substantiation in this case

Jon

Hi Jon,

I also have a Bank Guarantee with AVALA  endorsed on it. It would therefore appear  that Darren's Lawyer is not correct when he asserts that no Guarantees with AVALA have been issued in relation to Jumilla.

David 

David, as I mentioned, in my case my guarantee was issued by SGR and I suppose it depends if Darren's Lawyer considers SGR to be bank or not.

Hi Guys

Talk about scare mongering, what a waste of trees man!!!  I to have a bank guarantee with SGR and ours clearly states avalar, then a paragraph of some info then at the bottom a word saying Aval: with my ref number after it, hey im remaining optomistic im sure i could sue my lawyer for misinformation when he has clearly said they will pay out just not sure how long it will take, the word "definately" rang very clear in my ear when he said it.

However it is not the best of news for everyone else and i really do feel for everyone, it is a horrible situation.

Jannine x

My Bank Guarantee with BBVA Bank has AVALA clearly marked on the top of it.  I executed my guarantee myself by direct email to the Bank at the beginning of May and followed this up with a burofax from my Lawyer a few weeks later.  I am still waiting for my money.  They will use any excuse not to pay.  BBVA said that they could not trace the original and only had a photocopy.  So what - they issued it didn't they!!!
My Lawyer is now trying to get a duplicate from the Registry of Bank Guarantees I believe.  Apparently you have to have an original copy in order to execute through the Court. 

Does anyone Know anything about  SGR. They have a web site as far as I can assertain from that they are not actually a bank but more like an asociation of businesses and financilal institutions .From what I can understand on the web page they do loans and mortgages and stuff so perhaps its the same as a bank.I tried to phone them today but only got an answering machine.Why dont you have a look at thier website perhaps some clever cloggs could manage to do a web translation I tried but couldnt get the pages to translate I tried numerous translating facilities .but  no luck.Ithink I would have prefered if the BG was with one of the big banks we had all heard of.I dont know how big they are but numerous of the lawyers seem to think our best hope is getting the money from them and not SJ.Can you imagine this was achievable quickly we could all bow out of this sorry business .Now how B_ _ _ _ y good would that be.