Nadalsol's voluntary liquidation - effects?

Does anyone have any concerns to voice over Nadalsol's entry into voluntary liquidation? Is there a thread anywhere on this forum already about this?

Suggest you contact Sharon at Peninsula...she can explain it all

Where did you hear this, Silvertop? I have conducted searches in English and Spanish and all I could find relates to a news item back in August, when it was reported that Nadalsol had stopped work on an old people's home in Malaga until 2009, if market conditions improve. There appears to be nothing about "voluntary liquidation". Please provide source, because if there is any truth in this, then it's time to check bank guarantees.

I hope PPM posts a clarifying statement soon.

As for the rumour about the bank guarantee, I very much doubt that this can be withdrawn from the deal. In Spain what developers advertise becomes part of the contract and is, therefore, legally binding.

Apologies. I meant to say "guaranteed rental" on my previos post.

Hi ,

I haven't bought into Nadalsol's development but have had a look on the web having read your comments.

If you go onto the Spanish Government Official Bulletin (BOE) webpage www.boe.es/boe/dias/2008/09/24/pdfs/B11058-11061.pdf and scroll down until you get to the Malaga announcements, you will see the announcement of Nadalsol's entering into a voluntary arrangement.  Unfortunately it is in Spanish, but maybe some of you will be able to 'decypher ' some of it.  If you need any help with the Spanish, I might be able to help you.  Other than help with the language, I advise you to contact Peninsula. 

Good luck.

Sabber

Please excuse my ignorace but what is the relatioship / significace of "Nadasol" to Peninsula?

Thakyou in anticipation - Russ

PS am I the only one who always types penisula at the first attempt?

Nadasol were the origonal builders certainly for Medina Golf.  The development is back on track as these have now been replaced.  Letters were sent out to all clients affected and Sharon at Peninsula was on the ball in explaining the situation.  She is also confident that things are back on track now with the new developers.