GT went down the drain - OK, but who will finalize the project?

It is time that the ever so optimistic OGO come back

According to my info, the project does not stand or fall with Grupo Trampolin as the builder - in fact we, the customers now "own" the project...

There must be someone that is willing to finalise this prospect, but that mean that we need to renegoitiate contracty and sign up with another builder...

What is left in the GT cashier? It is the money they have in the bank (if any) and the value of the prospect. I guess that GT consists of many legal entities and I do not know if all of the GT companies have gone or in which of these companies the "real assets" are hiding - i'm talking about buildings, machines, cranes, boats!, cars!, villas!  and other value items.

We - the customers - will have the pleasure of fighting amongst ourselves the pettycash, and maybe that will be the end of the it

OR

let's say this other company took over where GT ended - what then? who would be willing to put in their share of the project and still keep going?

I would!

But then these "other company" need to turn around pretty quick...

ogo, what is it that you own?

You may own the land, possibly not however, given the track record of GT, have they used the land to secure finance? Did they ever really own it?

Assuming you do own the land, what have you got? the development is still not legal. ALL your money paid over so far has gone. Property has dropped by 50%, why do you think this development will ever be built? Where is the money coming from? There are plenty of legal developments for builders to work on & finish. Why would anybody look at this, & put money in given its history.

I applaud your optimistic atitude but you should also have a realistic atitude.

Believe me I am a realist - and me to are "bleeding money out of the window" - and I'm not alone.

The situation for me is unchanged. That is :

-if the project is "binned", I believe I will only get back penuts of the money that has been put on the table - so for me that is a dead end and I do not want to go down that road - (there is no pot of gold at the end of the rainbow)

Either the project must be built - else the majority my money is gone, and I will spend the rest of my life paying debts. I really think/hope there must be someone willing to "buy the project" or take the project over. It is not unusual, if a company is bankrupt, that someone else take over the committments of the old company, That is quite common even if a company is not bankrupt.

And as all of us know, the money is burried in the Trampolin hills, but (unlike the trampolin) they will not bounce back. The project is now under administration and the assets will be accounted for.
(Meaning that the project will be sold to the highest bidder - but in todays market, I can not imagine that the price will be high - and the money from that sale is what we have to split between ourslves)

So for me the question is; Who will take over the project and when will that happen?

ogo: What project?

There isn't one, the development doesn't have planning permission so why would any-one put money into this?

However, let us assume that some-one does, how long will it take?

Nothing can done until the court action is finished, & that could  be 5 years. Are you prepared to wait?

Those who have paid 50% + of the purchase price have already paid more than their property is worth, so where is the money coming from to finish this?

With 1 million unsold new build properties in Spain & hundreds of thousands of re-sales available (legal & built) why on earth do you think that more money is going to be put into this fiasco?

You are better off looking at a property that is already built that you can buy now.

This has been a con from day one!

Had Trampolin Hills been granted its final licence, then the land would obviously be worth something, so I would generally agree with Ogo; but it hasn't. And as TH are now in receivership, presumably with assetts frozen, how can they get the final licence - they can't.

Therefore, without the final licence, the land in Campos del Rio holds little or no value, even to another Developer.

The stigma; a Developer will purchase the land, through auction very cheaply, obtain the fial licence and begin building and we cannot do a thing about it, we will have no recourse i.e. no claim to it.

We should all chip in, buy the land between us and ...!

and Jesus wept.........................................

Various Legal firms are "touting" for business by offering their services to attempt to get the return of clients money;might I suggest that any of you could do much worse than to contact IBERBRIT in La Manga ... Javier, together with his partner Carlos, appear to have the measure of these thieves having been chasing them for monies owed to me. You will ... all of you ... need to take "specialist advice" on the correct course of action but since the Courts in Mula appear to have decided that there is a "Criminal intent" involved here Antonio and Rafael will NOT BE ABLE TO HIDE BEHIND THEIR COMPANY LIMITED LIABILITY CLAUSE which I understand is for the Capital amount of €3000! In short, Antonio WILL HAVE to come up with the money or without doubt he will end up in Prison ... the choice is his! Sadly I have to agree with the previous "posts" ... WHAT PROJECT? Should another developer enter the frame ... which I doubt ... he will be starting again  with new plans and attempting to seek new permissions AND OF COURSE NEW BUYERS!

I do agree with Ogo. I have been following the Spanish forums and they are all preocuppied with harassing the builders beleiving they will find some hidden treasure to get our money back from, when we should all realize the money has been spent and the only value is in the LAND. I want my apartment, not some fictive money that does not exist! I understand the planning permission is very close to finalization and this is where we should be looking now.

I have contacted the courts directly and am NOT using a solicitor. I have all the info you need to send your application to the courts. The deadline is 2nd desember. Please send me an email as my private messaging facilty is not activated yet. My email is acenname@gmail.com

I am also starting a group to put pressure on the authorities so that our properties can hopefully be built.

Buyers for the Building of Trampolin Hills is now created. Please see:
http://bftboth.blogspot.com/
All comments welcome!