confirmed: Swiss Financial bank guarantees given by TH are a fake

My solicitor advised my not to accept the extended Swiss Financial bank guarantee given by TH, and stay with La Caixa, and it seems she was right. Today "La Verdad" releases that the Tax Office has denied the authorization to Swiss Financial, and gives them 15 days to stop any activity in Spain. So my lawyers was right. Bank Guarantees given by TH through Swiss Financing were just a fake and/or fraud.

You can read the new on:

www.gmlegalexperts.com/trampolin.asp

Well done lyla77 keep the good news coming any date been set to drop the atom bomb on campos del rio yet.. you can be in the plane that drops it we can name the plane after you how does lyla gay sound !!!!!!!!

What gets me is on May 10th 2008, Llayla posted that her solicitor has got her money back from TH, if this is the case why would she want to extend her bank guarantee with GT?  Surely if she had her money back there would be no need to extend the bank guarantee to secure her monies already paid to GT?

Hmmmmm the mind boggles, what do you guys think?

 

 

 

Thank you Juliet454 that was going to be my next post if no one else did looks like a lot of us are on the same wave length I'm glad to say. 

you deserve a regards

Evad

Hey,

Thank god someone beat me to it because my turn of phrase included an awful lot of expletifs that some people may have taken offense too. Can you please tell me what is that girl on!!? and in  this instance i dont want apint of whatever shes having, come on girl throw it ALL at us now, dont wait a while give it to us as it is

Think it´s time to wake up and smell the coffee people!!

Swiss finance were never allowed to guarantee anything in Spain they were never recognised by the bank of Spain or the government and if people had done a little checking they would have been very worried from the start.

Let´s hope the developer gets the vote in October and actually builds something.....

Instead of shooting the messenger it would be better to put pressure on the developer to get you real bank guarantees from a real recognised bank or insurance company at least then you have a little piece of mind!

I walked away from this development a long time ago but it concerns me that 50m€ is in some part not guaranteed. If you don´t act together you could be in deep trouble!

Good Luck

Just to let you know:

when I contacted my solicitor first time, I still was relaying on TH. They told me I did not have to worry about the delay, because they were getting an extension of the guarante with a different company (not La Caixa). Thanks to God I found I good solicitor who informed me that the new company was not legal and the bank guarantees we not good. And I have to say that TH was trying to convince me that my solicitor was wrong, but I finally decided to rely on her and I took the right decission.
Then I decided to execute my bank guarantee with La Caixa, and I got my money back.

I am aware that some of you just want to hear good things coming from our mouths, but there are not good thing here guys. Weak up. don't be silly, because offending me you are not gonna change things. there is something clear: GUARANTEES GIVEN BY TH THROUGH SWISS FINANCIAL WERE A FAKE SO ANY MONEY IS GUARANTEED, THERE IS NOT TOWN PLANNING PERMISSION YET, AND THE SMALL BUILDING THAT THEY ARE MAKING IS ILLEGAL AND CAN BE PULL DOWN ANY TIME BY THE MURCIA REGIONAL AUTHORITIES. AND NOONE CAN BEAT THIS. You can carry on offending me. Does not matter. I have peace of mind. I realize about the dark clouds on this project some time ago. Hope you do it soon.




This message was last edited by lyla77 on 10/1/2008.

Lyla,

I am sure that any answer to you will be ignored if it does not comply with your own ideas. You have shown as much on this forum. I will nevertheless say this:

(1)
Branding the guarentees as a fake from GT is rediculous. This Swiss Financial bank was real and in fact located all over Spain. GT probably had made a good deal with them to take care of the guarentees - and I guess many other companies as well because, as I said, they are located all over Spain. The fact that this bank did not comply with Spanish law does not mean that GT was "FAKING" guarentees. Do you understand the word "fake"?

(2)
What are you doing on this forum? You already received your money back, didn't you? Is this some sort of a calling? Please understand that noone here seems to have the slightest interest in what you are saying.

(3)
On this forum you are talking to professional buyers as well as people buying a home for themselves. Please be aware that a great number of those know exactly what they are doing. Please don't think you are the know-it-all here. That's an insult for the rest of us!

-- Bjorn

What don´t you understand??? If the company is not recognised by the Spanish authorities you have no legal redress if and when things go wrong!!

Remember here it is hard enough to get your money back with a legal bank guarantee!!!!

Your solicitor should have found this out (See link below which was found by typing Swiss Finance into Google...not difficult).

All anyone is trying to do is warm people so they are fully informed and can protect the money they have invested how can that be a problem to people?

Llya is right if the authorities wanted to they could stop the building work going on straight away remember there is no planning permission! The fact they are allowing it to continue tells you about the state the authorities are in.

No one wants people appearing on ITV homes from hell with horror stories!

Check things out on www.laverdad.es and search Trampolin Hills and Swiss Finance...use a free translator on the internet. This is a respected Spanish newspaper with no axe to grind...It makes scary reading even more so if you have invested.

So as said before instead of shooting the messenger don´t bury your head in the sand. God willing this turns out with a happy ending but i would not put money on it.

https://www.dgsfp.meh.es/Sector/entidadesnoautorizadas_in.asp This shows list of unauthorised Guarantee companies in Spain.

Remember if the Spanish government want them to cease offering guarantees it must be serious cos normally they could´nt care less about you!!!

Good Luck

When I first read about the Swiss Finance Bank Guarantee on this development thread I was going to post and say that it is fake. Not worth a jot. I didn't because I have nothing to do with this development and knew that I would get a load of abuse for doing so. The fact is that what Lyla & Izzy have said about this BG is true. Either on this website , EOS ,or  the Spanish Property Insight (SPI)  website, a lawyer wrote warning people about this type of BG.  This topic has arisen many times and people have been caught out by it. I will endevour to try and find it but it may take awhile. Nobody wants to hear bad things about a development that they have invested money in, but being an ostrich is not the way to go.

There is really nothing new in this. 

The liklihood is within short we will know whether the final approvals will be provided. See absolutely no advantage to anyone in pursuing this line of correspondance as it is old news & does not really change anyones current position.

I agree with you AP007, nothing new, 

Again, as we have discussed before, and that is still the case here:

The only way is the building way - to finalise the project

I still stick to this "philosophy"

Bank guarantee or no bank guarantee, building permission or no building permission, rural land or non rural land, stopped work and stated work, delays, accusations, fraud, scam, fake, whatever - just bring them on

Because

The philosopy is still the same: I would like the Trampolin Hills project to become reality - and I cannot find any reason for why the project should be stopped.

and if it is stopped - people will lose money , banks will lose money , GT will lose money and credibility, CdR will lose money, Spain will lose money. 
The only ones that will make money is the solicitors and the press (no offence - thats the truth).

So thanks to all of you supporters to the project - for keeping the eyes on our common goal - lets get this train moving

And to the pessimists: please do not feel offended, "we have had our share of sand kicked in the face" in this forum for a while now and we have experienced that it falls off after a while....so "we will, we will - rock you, rock you"

"hang loose"

OGO

well done ogo, like your style and your philosphy, but best of all i k=like your taste in music,how about queens ANOTHER ONE BITES THE DUST or evan YOUR NEVER WALK ALONE, LETS STICK TOGETHER. It wont be long now im sure

I spoke to a person responsable for "urbanismo" at the town hall of Campos del Rio on the phone yesterday. He was very confident that the Trampolin Hills project will go through in the town hall within this month of October which should mean that building licences will be granted very soon. I have no doubt building will start inmediately after licences are obtained. The person I spoke to felt that the project is of no inconveniance to anyone and on the contrary will provide money to the municipality,  work and "life" to the community. This news releived me of my worries and that is why I am sharing it with you readers. Buyers and builders should now stand together and put pressure on politicians to end further delays and worries.

Great news zxcvbnm, and welcome to the forum!

You did not happen to ask exactly when the voting will take place?; 

The rumor says the last wednesday of the mont, that will be the 29 of October and then three more week to dry the rubber stamp from Murcia city, then we are looking at wednesday 19 November

Just a few more weeks guys and dolls

(It is enough to just reply to one of the threads, I guess we all follow closely the latest updates)

But thanks again!!!!

This message was last edited by ogo on 10/7/2008.

Thank you. I dont know the exact date, but would like to say that I have myself worked within real estate in Spain for many years and I know delays are more of a rule than an exception. But I also know there are many buyers who do not understand this, and are not prepared for delays. However it seems there are no conflicts involved. Buyers, builders and even the town hall and Campos del Rio community all want the project to go through. And there are no technical or legal reasons it should not be approved. So lets just wait for the good news.

Thanks again for giving us some light in the end of the tunnel

But i guess two years delay is a little bit more than just a ordinary delay, but what do I know??

And you are right to the point of what I have communicating the last few months

There are really no winners in this game if the project is stopped!

stay tuned

OGO