The Comments |
Reasons To Reject The Proposal
1. No Bank Guarantee will be Issued to guarantee your money or house. ( illegal )
2. A further 5 year wait.
3. 65% refund of your deposit. ( Banks etc to get 100% )
4. Only a very small part of SADM is to be built ( 1263 houses )
5. Resale value of your house if built ? ( very low, if saleable at all ) any other land still owned at Jumilla to be sold off, so no plans to expand the build themselves.
Reasons To Accept The Proposal
1. San Jose get to continue trading & receive 100% of the original contract price for each house sold + 35% from those who want their money back, meaning they effectively get around 110% of current contract price for each house sold, a great deal for San Jose in a falling market.
My personal views.
San Jose only want this agreement because there are substantial assets that they own that they will lose if the company is liquidated.
If there were no assets the company would already be in liquidation & they would be thumbing their noses at us.
Figures in the administators report state.
230.000.000 euros of assets approx
80.000.000 euros of liabilities ( our deposits mainly )
If the assets are sold for around 1/3rd of their value they can pay everyone back in full.
The land has a value as they are using the land as an asset in their proposal by selling land to fund the build.
Land at Almoradi 867.000 euros.
Land at Calasparra 7.000.000 euros
Land at Abanilla 2.839.000 euros for 15% of the land ( 18.926.666 if all the land is sold )
Land at Jumilla ?? this must be their largest piece of land which must be worth more than Abanilla.
I am sure many of you can come up with some other reasons to vote No
Please post them on this thread.
One more thing for Tony we DO NOT have a bank guarantee but still want them liquidated.
Regards to all
This message was last edited by wakemans on 12/04/2010.
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Hi Wakeman,
An intersting list of assets, however, with the current state of the Spanish economy and inparticular the construction industry you are being very optomistic. My Spanish solicitor, who does specialise in Administration does not believe that liquidation is a good idea or that those of us without a BG will get much back if the agreement is not accepted. He agrees with the SARC position statement.
Concerning your other comments. I have taken the following from the HdT website FAQ's:
Yes, all the terms of your original Purchase Contract will remain the same. We only need to amend the Completion Date.
If a Creditor continues with the purchase of their property and reniews their Purchase Contract with a new completion date, the Company will endevour to provide a bank guaranty for the amount already paid as a deposit up until the new completion date of the property. We are currently in negotiations with a number of different financial institutions to open bank guarantee lines and once the Proposal is approved, we will be able to evaluate our position and follow with whatever guarantees we can give
Yes, all Creditors who continue with the purchase of a property will be entitled to receive compensation. We will need to review this on an individual basis to ensure that it is provided in the most beneficial way according to your personal requirements e.g. in the form of a reduction in the price of the property, to be offset against extras required such as air conditioning or against the cost of changes made to the property (subject to Planning consent).
All the best
SAVE YOUR MONEY, SAVE YOUR HOUSE, SAVE SADM
Tony R17 18
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Tony . Please explain why anyone of us should believe or want to hear anything that HdT/SJ or Almu has to say .It is just lies ,lies and more damned lies perpetrated by you ." The best indicator of future behaviour is past behaviour " Where are the BGs Tony !!!!!!! Why are you dodging the real issues !!!!!!! JA
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Hi Tony,
These amounts are not mine, they have come directly from San Jose & are the amounts they expect to get for selling the land to help fund the build
They are what make up the agreement proposal & are quoted in San Jose`s own document.
You will find the figures in the Feasibility Plan Appendix 1
As for the bank Guarantee, San jose state that AFTER you have signed up to the continuation they will endeavour to give everyone a BG, if it is like their last endeavour we will get a big fat zero.
If San Jose give me a bank guarantee ( not a promise ) I may well have a different opinion.
Simple fact:
No bank Guarantee offered in the proposal means a NO vote.
Regards
This message was last edited by wakemans on 13/04/2010.
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We too are strongly in favour of a 'NO' vote.
We were recently contacted by our agent checking to confirm we had received the latest communication. A comment they made during the call was they believed SJ/HDT would receive an affirmative vote because the result will be based on value not number of votes. We were told that collectively the 'big boys' stake would amount to much more than ours and therefore would impact on the result.
If that is the case then each and every 'NO' vote will be extremely important.
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The key to all of this is the Banks, they will look at the decision of the people to see which way they will vote.
However the real scam is that whether you vote 'yes' for your property or 'yes' for your money back, SJ/HDT will use the acceptance as a leverage to the banks and also to avoid future criminal proceedings.
I'm voting 'NO' as I see it as the last chance to serve this company the justice it deserves.
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95% of companies in Spain who enter concurso end up in liquidation .This whole thing is a scam ,designed by HdT/SJ to divert funds and to scam the courts and creditors into voting to give them more time to save themselves . No one else just themselves .
I have been dealing with this company since 2004 believe me they have never been true to one single word they have ever uttered . They are a disgrace !!!!
The Spanish system has already sealed the creditors fate it is now too late .Whatever happens now San Jose are the victors . Too many sat back and let the crooks have it all their own way and actually encouraged them in their own delusions of right and wrong !!!!
It is now !! game over !!!! Sit back and enjoy the crumbs off the ,masters table . Your loss and the sacrifice of your life savings has secured SJ's luxury lifestyle for generations !!!!!! make no mistake . Luxury cars houses and holiday homes in Mauritius .
Shaaaaame Ohhhh poor San Jose !!! lets help them out !!!!! by gambling our life savings against the promise of nothing at all !!! their future is secure .No doubt about that !!!!!
Where are the BGs for deposits paid !!!!!! No BGs No vote !!! take this back to Almu ! Tony and tell her purchasers want an answer within 24 hours or they will vote No .This is what you should have been saying all along!!!!!!!!!!
Do not accept "they will endeavour to " or " they will be forthcoming if " BGs NOW or NO GO
Tell Almu she has 24 horas !!!!!!! or
This message was last edited by julie anne on 16/04/2010. This message was last edited by julie anne on 16/04/2010.
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" HdT are allready negotiating with banks for lines of credit to give purchasers who continue with their purchases BG's " ( Copy pasted from recent SARC statement )
The above statement is testiment to San Jose / HDT continuing disregard of legal process.
San Jose / HDT already ready failed to deliver on this legal requirement when we signed our contract with them four years ago. We were fobbed off by them and our agents with excuses and false promises ( erm...LIES ).
If ever there was evidence needed to VOTE NO !
Regards
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Just thought you would all like to know had a call from some solicitor working for San Jose on thursday to say they knew I had cancelled my contract but if as I had not had my money back I would like to vote then I could the bloody cheek of the company so I delighted in telling them i had my money but would accept more the chap laughed out loud and told me SJ wont bother me anymore thank god for that at last I'm off the mailing list, 2 of the other La Zenia 18 have also had a call, all the offices have been emptied they are now checking who is living in the apartments with a view to getting em out before liquidation on thursday (which thursday he did not say) but it came from a SJ employer emptying the offices !!!!!!!!!!!!!!!!!!!!!make what you will
_______________________
Great Auntie Linda
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Thanks for the information auntielinda,
This is hard evidence that they are already starting to hide their assets. Common practice in liquidation situations.
Watch what else starts to disapear when the time comes....
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Hi all,
Just had an e-mail from 'SARC' who got our email address through HDT giving us their usual spin on the proposal, same s***, different day!!
Of course their legal council advises them to accept the proposal, whilst I received an e-mail this week from my Spanish lawyer advising that all of his clients should reject the proposal. He was of the opinion that the company have more than enough assets to pay all the creditors in full! So where do they get this figure of 65%??? What an insult.
But just my legals opinion!
Regards
_______________________ stu and jaq R4 428 I DON'T THINK SO!!!!
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Dear Jaqib
Do what we did and listen to the advice from your lawyer, after all that's what we are paying for, and we have to hopefully trust someones unbiased opinion, who is not in any way connected to your selling agent (waste of space) or san jose (compulsive liars)
kind regards
mark
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Received the same here, looks like they're scraping the barrel.
I don't think they got the message. It's not that people didn't receive the insulting letter, many had probably decided which way they were going to vote and already informed their solicitor of their decision rather than be subject to another bundle of lies.
The letter is written in such a way that only a fool would be gullible enough to actually swallow it. Probably doing their cause more harm than good.
As you said jaqib SSDD.
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Of all the things I have read (and I still read daily) the fact that HdT are giving your email address or any other information to a third party is breach of data protection. I am not so shocked by HdT, but SARC who state that they are working on behalf of residents, are a voluntary group. They have no legal right to have access to that information. What other information have HdT been giving to SARC or other interested parties!
Tony/Brian - although our view differ dramatically, I truly believed that your intentions were good, even though naive and possibly blinded by desperation. By using confidential information (whether you asked for it or were given it) you have broken the Data Protection Act. If I find you were given any information of mine, I will be taking legal advice
Tracey
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Hi all I have also received an e mail from SARC not that I have a vote anymore ,jeeese they can't even get the basics right !!!!!! .
I am now taking legal advice on the giving .taking and using of my personal information .A complete breach of the law Spanish UK and European .I am appalled that SARC thought this was OK I don't expect any better from HdT but SARC should be ashamed and will pay for this breach of rights and data .
I am going to take this the whole way as cost is not an issue to me as I have my money back I will gladly spend a fair bit of it putting Tony and Brian firmly back in their place .How dare they accept my personal details from HdT and use them to their own selfish little ends . I am livid .This is one step too far See you in court .JA
This message was last edited by julie anne on 20/04/2010.
This message was last edited by julie anne on 20/04/2010. This message was last edited by julie anne on 20/04/2010.
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Well said JA, see Tone still canvassing for votes, me thinks he defo has an underlying motive???? Very suspicious me thinks!!
But just my opinion,blah, blah!
_______________________ stu and jaq R4 428 I DON'T THINK SO!!!!
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How Crass,
The only motive I and hundreds of others have is not to lose our money. It is is very sad the lengths that you go to in trying to cast dispersions on people. Do you have no shame? I have met people who are retired and can ill afford to lose their money, gained through years of hard work .Do you think of this ? No! You selfish, sad, miserable lot, all you want to do it is ruin their lives by trying to get HdT liquidated. No wonder you hide behind an internet forum and use names that disguise who and what you are.
Shame.
I WANT A POSTIVE OUTCOME FOR ALL
SAVE YOUR MONEY, SAVE YOUR HOUSE, SAVE SADM
Tony R17 18
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How Crass,
The only motive I and hundreds of others have is not to lose our money. It is is very sad the lengths that you go to in trying to cast dispersions on people. Do you have no shame? I have met people who are retired and can ill afford to lose their money, gained through years of hard work .Do you think of this ? No! You selfish, sad, miserable lot, all you want to do it is ruin their lives by trying to get HdT liquidated. No wonder you hide behind an internet forum and use names that disguise who and what you are.
Shame.
I WANT A POSTIVE OUTCOME FOR ALL
SAVE YOUR MONEY, SAVE YOUR HOUSE, SAVE SADM
Tony R17 18
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