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Hi Phil Its an artical re how the the credit crunch has impacted on the Building industry in Spain ,if you click the link go to the business section the artical is there saying many developers/ builders etc are going bust with little hope of money back for the many Brits who have bought off plan.
If you cant access it let me know and I will copy and paste it
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hi danny & babsy
we are gong with the solicitor, rates look same as anywhere else,we think would rather pay out as case looks good and hopefully should get some money back,rather than loose all of it. as we understand it site can be sold, and new owner can resell apartments, with us getting nothing as our agreement with urbassa.
regards
el robbo
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hi all,
just to let you know solicitor for action group will be going to court around 15 sept,we have to sign power of atourney, so far only three of us signed up. if any of you want to sign up you need todo it asap.
regards
el robbo
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We got an email from Palmera offering us another apartment in Almoradi (but costing a lot more) it said "URBASA GROUP, the former builder, wasn´t able to pay the loan to the bank, therefore the bank sold the credit to a third party. There was a meeting with the new owner and the outcome was that he is happy to find a solution for all the customers, however he still has not given us a writting confirmation of his proposal." Contacted Palmera but they didnt reply.
Hope that helps. Has anybody else heard anything?
Danny
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does anyone out there have any 100pct confirmation that urbasa have passed back the building to the bank and they in turn have sold on to another party? if this is true then the land/building would have to to be registered in the new owners name. this would be a matter of record and one of the many lawyers out there acting for various purchasers would be able to confirm this by searching the registery?
the questions are now :
a. if there is a new owner - would they try to get the original owners to proceed - albeit hopefully with some form of discount for all the agro the delays have caused and also as values have dropped?
b. I wonder how many of the original purchasers would consider to proceed in view of the delays and perhaps changes in personal circumstances?
the saga continues
bilcar
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We reckon the whole thing will take lots longer to solve regarding the new ownership of the site, and the worry is that we do not have any contract at all with anyone else other than Urbasa, so could they sell the whole lot on without even a single thought about us, come to that would they even know about us as they probably bought a job lot. Danny, can you let us know what you got offered as an alternative as you said Palmera offered another property at a higher price, and did they say you could transfer your money over too, because we understood the money went to Grupo Urbasa because after all they issued the contract. What contact details were on Palmera's mail because their website states they've moved to Los Boliches which is apparently in Fuengirola, Costs del Sol.
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Hi Everyone!
It has been a while since my last post. I lost my job in late June and I am in the middle of legally battling my "unfair" redundancy so I could not keep an eye on the site.
My paper work has gone to the "juzgados" but I will not hear back until Sept. I read that some of you have back off the legal action, I understand about your fearsof of losing more money. Because I put into these apts a significant amount of money, I cannot afford to sit back.
I have no confirmation that Banco Pastor has repossed the land. Has any of you got any solid info about this?
Rgds
SMC
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Does anyone know if a legal administrator has been appointed to handle Urbassa's affairs. If they are bankrupt and in administration I would expect this to happen. Does the local town hall have any information about what is happening.
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We wrote to the Mayor at the Town Hall over a month ago, no reply to date, we gave e-mail address, telephone numbers and home address. We've not heard that Urbasa are in administration or bankrupt but that doesn't mean they won't be, we are as wise as the rest of you on what's going on and frankly that's not too wise.
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Does anyone know which bank loaned money for Amarion 3. They should have provided bank guarantees to someone. I think it is important to contact that bank. A partially completed building is a liability for them and they may be prepared to negotiate with us.
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hi everyone,
we contacted Banco Pastor last year about gaurantees,they said they did not have them and were no longer connected with urbassa. we have not heard anything from palmera.will be e mailing solicitor today will ask if they now if it been sold,
regards
el robbo
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We were told a long while back that the bank guarantee was no longer there, it was the person before Ainhoa Reyes at Urbasa who told us that, and it was about the time they declared that there were financial problems and the contractors had pulled out. Does anyone have any more news on how things are going?
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Hi All,
I have just had a call out of the blue from Fanti from Palmera Properties !!! whow is going to send me an e mail with regard to the situation at Amarion 3. I will keep you posted.
Anybody else had a call ?
Glynn
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