Where are we going with HUMA

 If you have no BG what are you doing in order to try and get your money back?

Is anyone going after the banks for not being given a BG? If so is there a group action?

What about the criminal action?   Has anyone else any new information on this?

Has anyone else any ideas?

Yes there is a possibility of joint action against the banks.  Maria de Castro is willing to take the case on but as far as I know not many people have returned the Data request form to her so the cost is quite high. If more people respond then there is a good chance that the cost will reduce.Trudge sent the form to me so she may be able to send out a copy if you are interested.

Has anyone else had a phone call from a representative of Huma offering ACC clients 'key ready' properties in Algorfa and Almaradi at knock down prices? It seems that they are owned by the banks , are completely legal and heavily discounted for clients of ACC! Would appreciate views on this offer.

muggins: You need to look at the OTCC thread 'Now the're really taking the 'P'.

You will see that these discounted properties take no account of monies already paid by ACC clients, so any-one taking this offer up will be paying vastly more than the place is worth.

It really isn't a good deal.

Hi all

Just returned from the area  today. lovely sunshine and 22c so decided to drive up the old riverbed to ACC. It looks in complete disrepair now and I for one am now glad it wont get built.

 I will explain why............

I bought a key ready property on the coast in 2004, but at the same time also bought at ACC on manzana 9/43, without BG's due to a useless lawyer who never stopped me making the Second stage payment, I paid €48K in total including the reservation fee on a €111K bungalow with A/C at 1.50 € to the £.  Total investment £32K.

I have done some research this week & you can now buy 2 bed apartments on the coast near to Mojacar/Vera for €100K in developments without facilities & €125K in the prestige ones, representing a 40% decrease in the last 3 years give or take. Travelling inland slightly you can buy similar resale properties with licences for €70K including furniture from desperate resellers

Even if ACC was built now with all the original facilities, the lack of demand for rental properties would have forced many investors to sell at a loss to get out. Owners at Desert Springs ( with all of its facilities) of the €250K apartments cannot rent at €200 per week outside of July/August and occupation rates are 8-10 weeks a year max with a lot of hard work. The golf course is superbly maintained but  you rarely see people playing anymore outside of the summer months. The sums just dont add up in these difficult times. Desert Springs are now offering apartments and villas that are key ready for between 40 & 50 % discount from 2007 prices and there are still no takers.

Although my initial investment has been written off in my mind, I have done some calculations based on ACC being built and where I would be now. Assuming a 40% drop in value

Balance due say in 2008 completion if it was built

60%  €66K at 1.20 € to £ = 55000

Tax  and other completion costs €12K = £10000

Plus my initial stage payments £32000 

Furnishings estimate £5000

Total cost  £102000

Current value probably £60000 in todays market regardless of ACC proposed facilities

Not only would I be sitting on a loss higher than my initial investment but I would have no realistic hope of making any investment return. I also have a 2 bedroom seafront apartment in the area that I market with much hard work and only achieve 8-10 weeks per year. In 2006 I was renting out for 20 weeks per annum easily. Ther are less flights now and I cannot fly to Almeria anymore as Monarch has cancelled the winter flights due to lack of demand.

All in all I am still p***ed off with what has happened but I honestly think that I am better off without ACC.

I am sure that many people are still angry and cannot afford to lose their invested monies but as somebody who visits the area regularly and owns a property near to Mojacar, I believe that we would all be worse off if ACC had been built.

It doesn't take away what HUMA, The planning officials and the banks have done to us all, but in my opinion they saved us from a worse nightmare.

Just my opinion of course and it helps me to accept my loss more easily

To gazza1

Excellent posting and sums up the current situation exactly as it is.

For Spain, so to say, it's a total disaster and for those of us (me included) who are waiting return of all monies paid out in this fiasco it's the worst nightmare ever.

Depending on how much you have lost it could still be best to cut your losses and thank God it wasn't the double bubble loss on the now devalued ACC property. Having said that, fight and fight and never give up on demanding the refund of what's rightfully yours.

Now here's the story I came on here to tell you all:  Mr Huma rang us yesterday. Honestly. Trying to sell us a key ready property in Alicante. What an insult. This guy owes me money from 2004.This developer has been unable to complete a phase of anything he's started and there he is on the phone trying to re sell to us. !! (That's if it was Mr Huma, he said he was). His reason for non refund of money was that Huma are in financial difficulty !!  (no really !!) So we steamed into him about courts, lawyers and everything. He wouldn't give up with the hard sell so we virtually swore at him and off he went.

Is this company crazy ! Unbelievable nerve..............He obviously doesn't read the www does he because what hope in hell has a company like this got in selling a property when you have conned so many people out of money.

Lock them up........

Gazza1 that is a very philosophical view I only wish I was in such a position to be as objective.

Thing is you are talking about money on paper and in time who knows where the market will go. Admitidly it would take something drastic to push up the values. But at least if my proprty had been built to me it would always be worth what I paid for it and as I didn't buy it with the intention of any short to medium term investment on it, at least I could have enjoyed the benefits of it all.

I would be a million percent happier than I am right now £-46000 and absolutely sweet fanny adams to show for it.

I guess it's different strokes for different folks

 kingdingaling

I think if you look at what Gazza is saying if you still wanted a property in Spain then for the balance you would have had to  pay over to ACC you could probably buy something in somewhere like Palomores or Turre (both closer to the sea in small villages that have shops and bars) .  You could then have your medium to long term property for about (including your monies lost at ACC) what you would have bought  on ACC.  There are a lot of resales at rock bottom prices - there are also a lot of resales at totally unrealistic prices where people are still trying to get 2008 prices.   If you still want a place in Spain then this is worth considering (but make sure you get a decent Lawyer) .

What we do about HUMA is another thing - I have lost a lot of money in fees on top of my initial 65, 000 euros 'gift' to HUMA with no success. I do feel a group action against the banks is something I would consider (I have sent my details to Maria) but would be happier if there were more of us.  Maybe I am stupid and naive but I can't believe that there is no way we can get our money back.

Nigel,

I can see where you and Gazza1 are coming from, thing is my Father has invested the money and was 72 at the time he's now 78 he never bought for the future but for the there and then at his age it was something he always wanted to do. I am merely acting on his behalf to try and reclaim the money. Fusters recently wrote to us advising that if they could get enough of their clients together they may go for a group action claim/case against the bank. No doubt this would mean more money but possible hope. Again it's all down to the special account loophole.

Thanks

K

I find it strange that we don't get  phone calls from anyone, offering us another property not even OCC seems we been forgotton any one else the same?.

Has anyone heard anything about the court case against Huma and all the other people involved ?

Hi Trudge , Your not on your own we havent heard from anyone nor been made any offers, We also thought we had been forgotten. We even started to doubt if our solicitor had even been to court. At least we know were not on our own now. What were you buying Trudge perhaps they are only making offer to people who were buying villas or had paid the most money to make thing look better for themselves when the crimal proceedings start. Take care and keep fighting . Alfie Lets hope for some godd news in the new year , even if its only to be told that the theiving. b*****ds have been sent to jail.

Hi Alfie.

 We bought a villa in 2005 we paid 35k straight into Huma's account  .I thought maybe they are starting on the people who bought before us. Yes we have thought about wether it has been to court.

Hi Trudge,

Are you still considering taking action against the banks for non issue of bank guarantees?

hi all i have two propertys on the almanzora,& paid 114.000 euros all togeather.im still waiting on  final verdict from the courts which was march 16th 2010.i have been to court 3 times , jose said there is 3 or 4 stages & this is the final verdict

my solictor is jose at fuster associates, he still tells me we will get our money back & our nightmare with huma will be over,so will be in contact again this week with him & see what happens  lets hope & prey because this is robbery at the end of the day (con man) its a europeon country as well dont make sense at all to me.

lisa

We too are using Fusters and Jose is also our solicitor - don't get your hopes up as we are in the same position as are others. Winning the case is one thing, but HUMA have no assests to sieze and there in itself lies the issue, no assests = no monies returning. We have been waiting 4 years for £46.000.

If you read all the correspondance you will see what an absolute mess this is

Thanks

K

Also with fuster,s and in the same position ,but no assets means no payout no matter what!

The only people making any money out of this is the solicitors but that will come to an end.

If they had any moralls they would have pointed out that it was an expensive route to take with little or no chance of success and the next recomendation will be a legal charge on Humas assets,that they don,t have free of charge!

The only charge will b e to you with again..No return!

Best coure of action....sue your solicitor for failing to protect your monies and doing what thy were paid for!

Before making any decisions about this new offer by the Huma Group bankers have a look at this Spanish property web site-

casas trovit and search for Fontana apartments Algorfa or just Google Fontana apartments algorfa

The apartments are on offer at 65.000 € 

So one price for the English and another for the Spanish

And ACC and OTCC buyers have to give up our ‘buying rights’ and essentially forfeit any deposit paid

If the banks supporting Huma Group really want to try to sort out this mess then it is about time that they accepted their responsibilities and were open and realistic about any alternative offers

Might be some takers then

Hi all, we are also with Fuster and owed £40,000. We did get one payment back - covered by valid BG. Have been through the courts and also offered the 'cheap' properties!!  Why are they still trying to con us all and when will this nightmare end??????????????

Best wishes to you all and it would be interesting to know just how many people these crooks owe money to.

have taken a few photo"s of acc 2 days ago, not looking too bad there considering, even the cranes look as though they have had a new coat of paint!! everybody is awaiting the decision on the levante area which includes acc,  will upload pictures if anybody interested, but judging by the tone of the recent posts maybe i should hold on a while!!!

 I would be interested in seeing photos.

Yes please Jethro, would certainly be interesting to take a look.  Maybe we could just spend a few moments to recall our dreams of that time.  Such a shame - but hey that's life.