Refund Status

Looks like we are in for a long wait to get our money back, see correspondence below from my lawyer;

Further to your email please let me advise you that I have just spoken with the Judicial administrator and I regret to inform you that the situation has not changed since our last communication “some of the properties are being completed, but the Judge will wait to refund the money until the promoter have enough funds/liquidity to cover all the devolutions to all clients who cancelled their contracts and refund to all of them at the same time”, and at this stage only 8 properties have been sold.

If I remember correctly there are approximatley 140 units...I think we are years away!!!

Has anyone else had similar information?

there must be something we can about this otherwise you are quite right we shall all end up waiting years, enough is enough, we have been patient for long enough.  I shall be in Spain in August and would like to meet up with others who are waiting for refunds, let us all get together and find a solution, perhaps as a group we could appeal the judical administrators decision or something, I have an excellent lawyer in Gibraltar who I am sure will help us put a case together....

Hello All

Sorry its been a while since my last posing but I have been busy changing Jobs, I have been in communication with our new lawyer as our original lawyers were solely conveyancing. I’ve had many communication with the new lawyer trying to get to the bottom of the situation and to be honest we are no further forward.

It seems to me that we are all getting slightly different stories and I would just like to understand the current and accurate position we are all in.

As I have suggested before it would be good to know who is dealing with each of our cases and if we have overlap as it wouldn’t surprise me if a number of us could even be with the same lawyer and I do like the suggestion from Irish Iris to take the approach to present the case to the judicial administrator as a group rather than individuals.

What are other thoughts ?

Do you think it would be an idea of meeting face to face to discuss the position with an independent lawyer who could advise us as a group ?

Regards

Mark

markrstan@gmail.com

we have put pressure on the powers that be or I believe we will never get our refunds,

Our lawyers are:

Anderson & Asociados Abogados Marbella
CC Doña Pepa 1 y 2. Urb. La Reserva de Marbella.
29604 Marbella (MALAGA) - SPAIN

Is anyone else using them?

They were originally recommended by Ocean Estates!!?!??!

We are also with lawyers recommended by Ocean, but they but we have correspondence from a different one in the practice each time we contact them, the last time I had anything from them they gave the same reply that we have to wait for them to be sold.  This looks unlikely as they are not even completing on the ones that have been sold. Our lawyer is in Marbella and we have lost complete confidence in them.

Does everyone have a Bank Guarantee?  Mine is issued by Banco Pastor, doesn't this mean that in the event of a default the bank is liable to pay back any monies owed, if this is the case why do we need to wait for the apartments to be sold?

Any thoughts???