A resale purchase

Thank you all for your responses. Besides feeling really uncomfortable about letting go of the original documents, i had also read that copies would do -according to the administrators. The lawyer has asked me for my originals today. However i feel better knowing that you have done the same and it appears that that is what i now have to do.  

Hi Kay T ,
          Tony and I scanned ours and sent then via email as solicitor said that this was acceptable
brianmags

Ye, originals are with our Lawyer who has POA.  Just checked and he has everything he needs.

We sent original docs and contracts registered post, we were asked to send all correspondence in original form and individual e mails with the promises of returned money, pagare etc.

We have scanned copies of all docs.....

Sal......when you get back from your dog walks.

The really really interesting 60,000 dollar question bit for me is in the bit that says....

'new continuation contracts will then be issued with a Bankers Guarantee as the Court will require it and completion date' 

This is implying that from October forward all the build times will be met, all licences sorted, infrastructure planned and plenty of customers etc.  How can all this be guaranteed, i dont follow......if i wanted a transfer to a current build i would want to build penalties into the contracts.  

Does the administrator really think people like me will wait 4 years, then just say...ok then a new contract will solve all the problems......think about it this way though, next time they will just go straight to liquidation, no need for administration...and in the meantime have a licence to take more deposits and more money from people.  Dosnt stack up.

Also how can they obtain bank guarantees on a site thats trading its way out of administration.  Isnt it the case that they can't get a bank to back them up with finance.....now its talked of as a valid bank guarantee to support the build to continue.

Has the problems they put forward of the credit crunch, cost of finance and general lack of confidence around the world, suddenly been solved in that region of Spain???

This gets more and more curious to me.....dosnt it to you all??

Brian


This message was last edited by briando55 on 7/17/2008.

Hi Briando,  Quite but far better worded that I could have. 

Maybe they can provide some answers through Tony and Brian?  Would you guys be able to put this type of question to them to be able to post on the SARC website?

The quickest way for them to head this sensible question off would be to produce a 'dummy Continuation Contract for Mr Blogs, on x property at x price' etc  We could then assess to a large degree via our Lawyers whether it would be acceptable to us should we decide to continue or not?  We would assume that it would be worded 'draft copy' but it would give us all a chance during the August holiday to have a think rather than wait until end of October.  

These type of questions have only been able to be raised because of your Report and their comments.  Thank you again, you were right to open up this dialogue and now given the fact that they state that they would like to redress their poor communication of the past, this maybe an opportunity to address some  major concerns of their current investors.  

Im sure everyone would benefit from Briandos  questions being answered to help make a judgement and to view a potential 'new continuation contract'.  They must have discussed and agreed that this would be what they will do before your meeting otherwise they wouldnt have said it?

What do you think Tony/Brian?

Sal

Hi Briando and Sally,
the whole point of the continue to purchase contract is the specified completion date and that is why we asked time frame. The build can only proceed with the funding being arranged and that will give realistic completion dates. The "appendums" will have to have gaurantees as the court and solicitors will expect it.   We went over this very carefully and you need to look at it as a whole and not cherry pick bits out of the report for comment, it goes together as a whole. We do believe that it is viable and that is due to the positive comments from the administratore and Town Mayor on the continuation of the project.

It is understood by all that it is essential that completion dates are given and that they are achievable and achieved It became evident over the 2 days and in the discussions that delays were caused by HdT waiting for approval for each stage of SADM and as perverse as it may seem doing things properly.  

I am over again the last week of july and  I will ask about the appendun contract plus if any one has suggested questions, sensible, please email them to the SARC email address and I will see what i can do and post the replies.
All the best
Tony



This message was last edited by TonyMal on 7/17/2008.

This message was last edited by TonyMal on 7/17/2008.

Hi Tony

Just trying to get my head round this.

The accounts show that an amount of 12M euros has been spent for a 'bank guarantee bond', but the banks have not yet paid out a BG. and are using any excuse not to from what we hear.

The point K in the report can be condensed into the more understandable and accurate phrase of 'moving deposits was discussed and both sets of administrators have to agree'  would you agree?

In order to get a new Bank Guarantee there needs to be a 'continuation to purchase contract'.  This is a contract on existing deposits to purchase, which should by Spanish Law already have a BG attached (and have 12m euros paid for the privelage of it).

If there is a continuation to contract does this replace any existing, broken contracts.....why would anyone risk that?

Im really getting the picture that there is very little professional information coming from the meetings, just some appeasement.  I thank you and Brian for going and think now a dialogue is open it could be very usefull.

What is the nature of the trip back Tony....is it a holiday or is it a meeting with San Jose or administrators etc......is there any chance you can circulate your SARC community, and ask for the mandate for any meeting and the questions to ask, as communities do.

I fear if you go without the level of consultation expected it will be a mistake and could be harmfull?  I dont want any administrator to think the problems are this simple to solve to be honest.

Regards

Brian

Hi Briando,
              I do believe that tony had originally booked a holiday for him and his mum but he has offer sark members to send any questions to the email address and if possible he will try and get an answer now I do elieve that the questions he wants are to be resonable questions and not ie "can i have a house on the moon?" or "if i move will i get a boat as well for the same price?"
of course if you were a member then you would have know this.
signing off TTFN
brianmags
R4 556

Back to the gang mentality already?  

If you havnt picked any questions to ask from my recent concerns...there is only one thing left to say

IWMHOTM

(i want my house on the moon)......

That was a bit cheesey.

Hi B,

I know first hand on point K.  Yes it does have to have written approval from both companies if transferring deposits.  Then has to be put before the two Court Judges with no time frame given.



Tony, as I said Im really glad you have opened up this dialogue, please try not to look at it as cherry picking points for the sake of it, they are points that will become important and are important now, certainly for me. I would call it picking out the important parts rather than just picking. The statements made by Administators/SJ President and key Associates  should  be debated on the forum in the first instance so that we can compile sensible questions.  I certainly know my Lawyer would want every i dotted and t crossed on any contract and would expect nothing less of him.   I appreciate that individual questions would be best asked via the SARC email, but before bombarding you, we should discuss.  If we can be appeased on certain points fine then we wont need to email.

Thanks for the opportunity

Sal

Hi Sal/Brian,
I am knackered and off to bed. I will try to post tomorrow night. Yes I do appreciate dialogue etc but I need to be awake.

Night to you both.
Tony

Ok.

Cheers

Hi Briando,
     not being gang mentality but you asked about a mandate from SARC members if you want a question asked then say so and email us as you have the address don't go on about mandates from SARC and then complain about gang mentality. Its is  contradiction and not your usual constructive comments. 

 I will put it down to a worried mind and to much gardening.  We of course we will try and get the information that you ask for if at all possible. But we all need to start working together we may have different objectives but we are all in the same boat so come on and give us a bit of break we have both worked on this since May 23rd and have full time jobs in ITU's and also a national commitent to our professional body.  Lets all try and not shoot each other please. I realy don't have the time for it

anyway its goodnight to Briando and 
                 goodnight from me Brianmags (Oh no! now I sound like the two ronnies)

For info.  As stated before, I sent copies of my documents unnotorised to my solicitor.  He emailed me this morning to say that while he can work from them he needs either the originals or at least notorised copies to present in court.

Hi Brian/Tony

Sorry but i slept on it and still dont follow what your doing,and saying maybe its me but try and explain it to me.

Before i ask any difficult questions, i may need filling in on the easy ones, i may have missed things, if so im sorry.

I have been on the mailing list  at times for the SARC site, but im not a member, is there a membership?  If so i dont see it on the site or application forms and such.  I have been asked really pointedly before now.....state your plot number.....things like that.  If i dont have a plot number how can i be a member anyway?

You said that originally Tony was going to have a holiday with his Mum but he is asking for reasonable questions to ask.  Is he having a holiday with his mum or is there some meetings arranged again?  sorry but i had no idea he is asking for questions?

If the guy is having a holiday with his Mum then just have a holiday, we can ask questions by e mail, no problem.

So to recap with some easy questions first.

Is there a membership, with membership application forms and member numbers and things?

Does SARC have someone going to Spain to ask questions or have meetings planned, which represent them as SARC?

The site has a reference on the last page to terms and conditions, and that we are bound to them when visiting, Is there anything i should know about using the site, what im allowed to do and not etc?  before i ask any questions or contact the website.

Any chance you can answer in as clear a way as possible please, then i can ask some sensible questions later if appropriate..

Thanks

Brian




This message was last edited by briando55 on 7/18/2008.

Hi Brian,
                You were included on mailing list to aid you but you are not a member and so did not recieve items such as the report only members got that before anyone else
 there are now membership froms but they are sent when some wishes to join and they send us an email
As for numbers weare over 80 and growing each day don't ask who is a member as  we will not disclose nomes as we have promised confidentialty. We have had 4 new memebrs join in the last 24 hours
              This all I am willing to say about SARC and members.
brianmags

This is getting top secret stuff. Next it will be roll the leg of your trousers up to join.
A farce.

FN
No this is not a farce. This is due to the emotive angst rantings by those who object to people saying that they want thier house. No one wants to put up with the insesent bickering, name calling and pointless upmanship.

Briando my personal plans are not for discussion and as for the activities of SARC and its representatives/Committee members that is for the membership, which is growing.  It is not appropriate to say more, which  I hope that you understand even though I am perplexed that you spend your time pondering such little things rather than your deposit at Albatera.

Quick question for you. How long have you been trying to get your money back?

All the best

Tony