temporary recievership

your investment isnt secure at all as they seem to be in meltdown. its only secure if you have a valid bg and you execute it now or take a key ready property which has all the legal requirments. check the bg with your solictor as they are contesting some of them.

If a property is finished and has an LFO legally you cannot refuse to complete as in this case Peinsa will still be trading, regardless of the current market value of the property

If you refuse to complete the developer can take you to Court and will win the case

If the property has an LFO the utility providers havr to provide the connections to services as The Town Hall has accepted the properties

I know that it may be unfair but it´s the law

If a property is finished and has an LFO legally you cannot refuse to complete as in this case Peinsa will still be trading, regardless of the current market value of the property

If you refuse to complete the developer can take you to Court and will win the case

If the property has an LFO the utility providers havr to provide the connections to services as The Town Hall has accepted the properties

I know that it may be unfair but it´s the law

I have today been given information by my lawyer that when checked against companies registry in Spain, Peinsa who own 30% of the land that CDP is built on and is mortgage free has not applied for bancrupcy or as far as can be gleaned recievership (temporary or otherwise), it may be that they have applied, but no evidence is there. I would therefore ask all the people at the rumour mill to stop the grinding and stick to the facts that can be verified. As someone who had been looking forward to taking possesion of my property on CDP, I am now left only with the worries and expense of seeking legal council to advise on staying or trying to get my deposit back. Can I ask all of you on the forum to stick with fact and not speculate or add your own slant to your version of the truth, it is not helping

just to confirm where my information came from, it was the la tercia owners google group and it was from a buyer who has been trying for a while now to get his deposit back. he got an email from solictor stating that they had no money to pay him back and where in temporary recievership. i have spoke to this member a number of times in the past and totally believe him.

That may be so for La Tercia Real but realistically what has that to do with CDP other than the developer/ builder.  It appears to me that the great british disease is taking hold and peopleare talking the company into financial problems, it is quite normal for a development or product line to be suspended when not profitable but that does not mean the company is in dire straights does it?

if the builder/promoter peinsa has no money to pay back la tercia owners then they will hardly have money for anything else. i myself spoke to a senior  person in their head office which i had five meetings in one month and was told in their own words the company was in big trouble.

As I tried to explain this morning that company structure for this company is complex, the group has issued contracts in a number of different company names, even different SL company names under Peinsa and people should be asking if the company, that is hown on their sales contracts, is still trading normally

There isa statement that were the promoter for the La Tercia Real development filed for administartion this week but the company promoting CDP mat be a different part of the same group

There still appears to be issues on this development with people that, even though the law requires it, that have no BG´s etc and it unfortunatley common in Spain for other group members to follow the first into administration 

With Spanish lawyers it is very important, due to their close working relationships with the developer to ask the right questions and check your contracts

Fact - Peinsa have had there credit rating lowered - no surprise there like many British companies

Fact Peinsa had a good financial based from information posted via their accounts

Fact - Peinsa have a lot of collateral on CDP alone a substantial amount already paid for

It may be that they are experiencing tough trading times, who isn't

I find it unhelpful when you refer to a senior person in head office, name names to enable verification.  Are you actually buying on CDP or are you a La Tercia real buyer causing ripples in the pond of CDP

i dont need to justify myself to anyone and have only posted here to warn people of the situation they face. i have experienced it and thankfully came out of it reasonably happy. so since you seem to have all the facts its all sorted then. good luck

When items are placed onto the forum you are responsible, therefore you do have to justify  your statements if requested and provide proof.I have no doubt that your intentions are good natured and am happy that you, as you said, came out of it reasonably happy, hopefully so will we all and then be allowed to enjoy the Spanish sunshine and a cool beer at night.

Sorry guys but I don´t think there´s anything to be gained by a slanging match when the information posted here is designed to help people and unfortunatley Peinsa don´t have, on this and other developments a great track record

They had a lot of collatorial on La Tercia Real when they pulled the plug leaving buyers high and dry. They have a lot of empty unsold finished properties all over Spain with mortgages on.

On Senario De RODA there are more than 30 properties unfiished left as shells

I certainly don´t have any rumours only the information that is in the public domain on this and various other forums but I still maintain that my source, a local lawyer in Spain, conforms that SOME GROUP COMPANYS, have filed

It is also worth noting that beadso has been a victim of Peinsa, he was a buyer on La Tercia Real and chose to switch to a key ready property on another development and has met with senior management in their offices in San Javier

I am not a lawyer, I do not sell property but because I live in Spain local to their offices and get to deal with lots of local developers and agents in my business I can only pass on help and advice based on local information.

Already stated in The Costa Blanca News 4 weeks ago there was a statement from a senior Peinsa managed stating that they had no money and that they were unable to refund for deposits they had paid and that they would have to take them to Court to recover money paid as they had to bank guarantee to claim against

Unfortunatley when things get difficult administration is the next normal step with a 300% increase in construction organisatins filing in the late 2008, early 2009

if you are one of the few people that are left that are optimistic in peinsa's developments, fair play to you. i dont know if you were involved in writing the eos rule book, but i certainly cant see any where that i DO have justify myself when requested with proof.

Optimism does not come into the equation reality and hard facts do. I too want my substantial investment secured against the property selected and don't want to be left with either a costly court case or no property simply due to people scaremongering. The EOS rule book has nothing to do with everyones responsibility regarding what is said if it ain't correct or factual keep it to yourself. If you do not want to take responsibility for your comments, do not post, there are too many people in this world who think teflon shoulder are the answer and hope everything slides off but the real world is not like that, we all are responsible and as such have a duty to promulgate the truth based purely on fact.  I have spend considerable money already on assertaining the true facts both here and in Spain and most of the cost could have been saved if people contributing to this site would stick to fact and not speculate.  It is my firm belief that the old saying of "put up or shut up" is valid always and would prevent many people from incurring unnecessary cost. 

If as you say you have resolution  regarding your property let the people of CDP and their legal representatives sort out whatever problems may face us in the future and not try and start a stampede  for someones gratification, as this will benefit no-one.  I wish you well.

explain to me what bit of unfactual information have i been giving you.  would you like me to tell you everything is rosie in the garden?would that make you feel better?maybe if we all started saying nice things this will all go away. as for scaremongering and trying to cause a stampede(if this wasnt so serious i would laugh) for your information, la tercia has closed down, most buyers have filed for their money back, peinsa have had sales come to a standstill,so no money coming in only going out. if you choose to bury your head in the sand thats fine but for the people who want to know what situation the buider which has so many peoples hard earned money is in. another old saying for you" dont have me to tell you i told you so"

Please explain to me, do you live in San Juan, do you have total insight into the detailed management structure of all the builders / developers owrking the sites, did you know that Peinsa 97 only owned 30% of the CDP site, therfore 70% is owned by other companies, what was the position at La Tercia Real?  I can understand if you have lost money on the La Tercia site but as you have said previously you got out and are happy, so why are you putting messages on the CDP forum if you are not part of that community, listen to others like inspectahomespain and others trying to give accurate information without a spin, people who are resident or purchasers on CDP not others acting like the old soothsayer of old Pompei whoa, whoa and thrice whoa.

For your information I am a realist, that which is fact and can be proven must therefore be judged correct, that which is based on speculation, supposition and rumour should be challenged, the resultant then examined and trash placed where it should be.  If you have any serious input that can be verified regarding CDP then I am sure we would all value your expertise and knowledge. If however your experiences have been bad or tainted by a company which may or may not be the same company and, as I understand CDP is supposedly the Peinsa 97 S.L flagship then I am happy that you have got out unscathed. I would also share one other item with you, beside the fact I bear no resemblance to an Ostrich and the only place I want to see sand, is either in the desert or on the beach, remember if one ship sinks in the fleet do we keep all others in dock, no, we check the sea worthiness of them and allow them to continue sailing and bringing in revenue.  May I politely ask that if you have nothing but bad experience and supposition to offer  that you allow us poor, unfortunatate, sad souls to use the facts that we are gleaning from our respective solicitor and Abogado's and allow us to go forward with that knowledge and then if it does go "belly up" we have recourse through either the banks, courts or solicitors for failing to  keep us appraised as to the actual state of play.

You started a rumour that Peinsa have gone in to tempory receivership, I have paid so far £900 to find out that is currently not the case, thanks, that is what I mean by being responsible for your actions, of course you may be a very wealthy individual who would wish to compensate us poor unfortunates who take your missives seriously, or is this another teflon coating - not my problem I am only trying to inform you.  Thanks but for my part that sort of help I can well do without, so please if only for me and my sanity do not put anything else on the forum unless you have concrete proof and are prepared to divulge your source and await verification.  I am sick of paying to prove or disprove rumours either malicious or those done with good intent.

Cheers, use your money wisely and enjoy your property where ever that may be and, hopefully we will all do the same.

there was a wee man called bead so one day he started to read,but then he decided i know i will do a good deed. i will start posting on site alot of it s__te because i have an ego to feed.

Hi Reaper

You are best off keeping off this site as you will find most of the honest people who used to contribute to it dont bother now, it is mainly made up of idiots, sad idiots, really sad idiots and lawyers wanting some of the action. So do yourself a favour and keep off it and believe the facts as they are and leave the balloon sqaud spreading rumour after rumour amongst themselves. If we are to loose our homes in San Juan then it's got sweet ** to do with them.

Sorry reaper but it shouldn´t cost you 900 pounds to check if a company has filed for receivership as all entries have to immediately go onto the offical  Registro Mercantil, which is the Public Registry for companies in Spain which, given that you have the contract name takes about 10 minutes to check and ttpically no other research would be reuired as this is uodated daily

In the case of La Tercia Real the contracts were not in the name of Peisna 97 so I have been trying to verify the actual company name so the other posting on The Google site could actually be correct,

People that still do not have a BG, given the history should still be pushing to get these form their lawyers, just in case