lar sol refunds

Good news for any one waiting for a refund on the above development. I have been informed by Lawyers of Spain that the contracts are now being cancelled, and money should be refunded early December. I hope you all get your money back.

I bet Lawyers of Spain are trying to charge you additional fees of €600 for the cancellation negotiations? If they haven't yet, I'm sure they soon will.

A word of advice ... the 1% fees you paid Lawyers of Spain up front include the cancellation of the contract (0.5% is charged for the private purchase contract and 0.5% for either completion or cancellation). Lawyers of Spain are trying to charge all clients that are cancelling contracts with Grupo Lar, including the Lar Sol development (where I have a unit) and the El Capricho development, additional fees of €600 for the cancellation negotiations. They have no right to do this as clients have already paid their fees for the cancellation. When you consider that they have about 30 clients at these developments, that is a considerable amount of money (€18,000) for work that has already been paid for by their clients.

I am refusing to pay these fees and I suggest that others do too. To avoid Lawyers of Spain trying to hold onto my cheque until I have paid their fees, I intend to fly to Malaga to collect my cheque directly from Grupo Lar.

cheers Ed007,

                  It seems you can't even trust the lawyers over there now. I have sent you a reply plus one to LOS asking for their comments and I will be only to happy to accompany you and anyone else on a visit to Grupo Lar. It is no wonder LOS told me not to contact Grupo Lar. I think it is all a big scam. I think I will fax Grupo Lar after I have a reply from LOS.

Hi,

        Having problems with Lar Sol, Estepona and also Lawyers of Spain. Has anyone settled yet cos currently i am having trouble with both of them. Has anyone got any advice?

Just wondering if anyone has got any solid or factual information back from LOS or the Developer to date, as we were also told by LOS that we were to be refunded in December. In December we were told that it would be January, but a couple of weeks ago (Yes January) we were told by Los that we would have to go to court to get our monies back (deposit etc..). In addition to this news we were informed that the cost would be approx €6600 to go this route, however after LOS discussed this matter with their Barrister, they agreed that the fee would/could come down to €4780 if more than 15 took this case to the courts(given that LOS represent approx 32+ clients).

Has anyone else been contacted by LOS with this information or requset to pay further high fees?

Why pay so high fees after paying quite a considerable fee to LOS to purchase a/the property in the first place (which has not been completed) ??.

If the deposits are not paid back by the developer, this then means that you own the property (title deeds/notary deeds) do's it not??, and the developer cannot further develop,complete or sell on any of those properties under contract??. 

I managed to get my money back by dealing with Grupo Lar directly and flying to Malaga to collect a cheque a couple of months ago.

You may find the following contact details useful. I have already posted on this subject, but the thread appears to have disappeared. Suspicious!

The guy you need to speak to is Alberto Salamanca. He has day to day responsibility for some of the developments at Grupo Lar. You may get more information out of them about what is really going on:

Tel: +34 952 22 15 07 (not his direct line, but his office reception)
Mob: +34 607 802 417
Email: asalamancaa@grupolar.com

I would also put pressure on the CEO of Grupo Lar, Luis Pereda, and the shareholders of Grupo Lar, Morgan Stanley Real Estate Investments (MSREI) by sending an email of complaint and keep sending them if you don't hear anything. The nuisance factor is important.

Luis Pereda (CEO, Grupo Lar) - lpereda@grupolar.com
John Carrafiell, Global Co-Head of MSREI and Board Director of Grupo Lar - john.carrafiell@morganstanley.com
Jay Mantz, Global Co-Head of MSREI - jay.mantz@morganstanley.com

Good luck!

Ed.

We are clients of LOS and had said we wanted them to go ahead with the litigation but now they want a Power of Attorney after we only did one in December

at considerable cost it seems that was not an appropriate POA I think they are incompetent and looking to make more money I have questioned their

capability of securing the refunds as their track record to date is pretty poor and highly suspicious. I have now started e mailing as per the last post

Perhaps we should try our own pressure group and go in person to Groupa etc?

Yes you are right on a number of issues posted.

It is claerly taking course and becoming clear that LOS are prolonging the situation to make more mon ies from their clients.

I have recently held a meeting with a top soliciotor in this sector (Awaiting report and their advice) to get advice on both the current situatuion with regard to Lar Sol (Grupa Lar) and the manner in which LOS have been carrying out their work with this projsct (Lar Sol).

I have asked LOS directly , were they working with, connected to, dealing on behalf  of, or have legal obligations with Grupa Lar or its development Lar Sol ( As this is against the law) for Los to act on behalf of both parties.

Yes an action group would be good and a visit to both the Head office (Grupa Lar) and Lar Sol Project , in big numbers would send a message. People should start contacting Lar Sol Project, Grupo Lar, The Banks, Insurance Company (Acc) etc.. by phone , email and in writing asap.

Do grupa lar have london or other UK offices as we are based here so getting to Spain a challenge?

Yes Grupo Lar have sales offices in the u.k .

It also worth while checking out where and when the next holiday home shows are on as a visit to these shows voiceing your views and to inform other potential buyers to stay clear of any Grupo Lar Project and/or Lar Sol Project, which would send a message to both Grupo Lar and sales agents such as (ADH) Andalucian Dream Homes (Which also do very little to assist ( After sale my backside).  By standing on/at these shows voicing ones opinion to potentially new customers would not go down well with these companies (ADH , Grupo Lar etc..)

From Lar Sol's own Website:

Grupo Lar is one of the biggest property developers in Spain. It focuses on Development, Investment and Management of Real Estate Assets.

• - First Residence - Vacation Residence (or not as may be the casein Estepona?)
• - Vacation Residence - Offices and Business Parks (Cancelled in Lar sol Estepona Dev?)
• - Industrial Parks - Development, Investment and Management of Retail Centers

More than 35 years of experience in their sector. (Not exactly sure about this comment?)

Present in 9 countries: Spain, Portugal, France, Germany, Poland, Hungary, Romania, Latvia and Mexico

Non-listed company, has a share participation with Morgan Stanley Real Estate Funds. (Another company to start sending your emails and letters to?)

Has anyone had any more news on Lar-Sol What is taking place on the 2nd April? in Lar-Sol development? How can they leave property vacant like that?

Had e mail today  from grupo lar to say that refunds will be resolved by the end of the month i asked if that meant we would not have to take out litigation but yet to reply to that i will expect a reply by monday will keep you posted!

exact wording of e mail

Hi ajcopley

Many Thanks for your reply and update. We have also received an email from Grupo Lar recently to say that they are working on finalising matters (where I asked when this would take place) they still have not replied to date. Will keep you posted also

Many Thanks,

Dave07

Hi everyone,

               I had an e-mail from Grupolar saying they hope to resolve the matter soon. It was from Carlos Rodriguez, his e-mail address is crodriguez@GRUPOLAR.COM. I have just e-mailed him giving him 48 hours to give me a definate date for the refunds. I have also e-mailed two directors from Morgan Stanley although they didn't have a stake in phase one, they are still doing multi million pound deals with them. If I get no response I have told them I will be getting in touch with BBC Watchdog, I don't think they will like the publicity. I will keep everyone posted.

Hi All

I have also had a similar email from Grupo Lar (but no confirmation or commitment to date of refund) .I have also told Grupo Lar , Morgan Stanley (Which "Do" have a stake in Grupo Lar) , and ACC (Insurance/Bank Guarantee) that I want a date and confirmation of refunds or I shall also go To various media outlets, Property Shows (To halt any possible sales for Grupo Lar) or its developments, along with spreading the word on various websites such as this one.

Note: Anyone with an interest in any of the Grupo Lar spanish properties should email the following people telling them unless they pay the said refunds (now/very near future) you will have no alternative but to ingage in the following:

(a) Full legal Action

(b) Contact Media Groups, T.V , Papers, Magazines etc..

(c) Visit any property shows or foreign property shows and make your feelings/concerns known to any potential clients of Grupo Lar, Morgan Stanley, ADH, or ACC

(d) Contact all related websites with regard to the matters/issues arising with The above mentioned companies.

This must be done by all concerned by Grupo Lar (And not just left to a few) remember groups or bigger numbers get things done.

Regards,

Dave07