update on those with bank guarantees

Far these are my thoughts exactly I have only found 2 people who have been paid out and they started proceedings long before admin .I don't think the BGs are worth any more than the paper they are written on .It angers me when Tony et al makes out there is a difference in reality there is not .We are all in the same boat or sinking ship take your pick !

Sorry posted twice

This message was last edited by julie anne on 11/2/2008.

I disagree there is a stark difference. No matter how long the process there is the extreme likelihood of getting your money back regardless of representation. If you do not have a BG then your representation and the merits of it are the only thing that could have an impact on ou getting your money back (or possible refinancing which seems highly highly unlikely) Tony spouting that just disgusts me.

Correct Joanie, If you have a valid bank guarantee then the bank has to pay up in the end. JA if they were worthless as you say then the banks would not have worried about giving everybody one and not just 25% of us. It speaks for itself.

Hi Taxi parrot it is not down to the banks just to issue BGs SJ must ask them to and iether secure funds to cover in an escru account or pay premiums to cover the amounts  . In answer to your question , banks only issued 25% with BGs because SJ only  asked for or could only cover that amount .,I am glad you are so sure banks will pay up in the end ,I will sleep easier tonight . Pehaps all the appeals we have made for anyone who has been paid out  by the banks on a BG just fell on deaf ears .Only two have ever come forward .Strange ,perhaps all with BGs  will all have our money back for Christmas and live happily ever after in fact Santa might even chuck it down our chimneys and pay our legal fees as well. Perhaps Superman could also do fly past the whole of Spain and wipe out corruption in one blow .  JA

JA, I think you will find that SJ did ask for or try to obtain further bank guarantees  from vaious banks but because of their  worsening financial position they were refused. That doesn't make the 25%  that were issued worthless.

JA


The mere fact you have a BG is enough to make you safe in the knowledge that its either to be paid out.....or its bogus/forged/illegal.

If that was the case it nwould have been thrown out by now.

The fact your contract will be reversed will be good enough for me to sue....so im watching closely.

If your BG has an over-rider of no interest claimed, then its restrictive.......having no BG means no restrictions.....

I will sue for interest and compensation and everything else i can get.....the kitchen sink.

So i hope they get their finance, im here to get my money back................and will sue and sue to stop any building works i can....i urge you to do the same..   If they are going to trade on......they must trade fairly, thats the English way innit