Bank guarentees, do they exsist?

Can anyone out there please help. We put a deposit on a villa at Calas Del Pinar in 2005, through Amber Sun and using PSI Consultants, by 2009 we were still waiting so we decided to try to recover our money. We have taken Piensa to court and won, but because they are now in voluntary liquidation we are still fighting. So I am trying to find out if anyone out there actually got a bank guarentee when purchasing thier property. We may now have to go after the bank as we did not recieve a bank guarentee Hope someone can help as this has now been a 4 year hell.

Hi

We all had bank guarentees, at least I hope all had them. But a lot of people of all nationalities have moved into there house, we were over last month and visited the office which is still open & people are still signing for there properties. Did your solicitor tell you they (Peinsa) are in liquidation. Hope you do get your money back, but like I say Peinsa are still active as far as I know so there should not be a problem for you unless they have just went bust !!! we went through the same Hell as did every one of us it is a disgrace the way everyone has been treated, including both People who have settled & people waiting for money. Wish you all the best but I think it may take a while to get a settlment. I am not going to say how good CDP is now as people get upset when I mention it, you would have to go yourself.

Sorry to say but there is still a lot of sad people out there, this is why i never really missed IOS. Please dont PM me, keep everything out in the open on the forum that is what it is for.

Hi

we are on a peinsa development  and also used amba sun and psi   plus bancaja,    we were lucky to say the least and managed to get a finished property before peinsa croaked  however, I don't think many people had BG's psi always dodged when we asked questions and bancaja just kept schtum.

our developement is chasing peinsa ( there are different arms) for the community fees on all the unsold properties    they  added another block of apartments to what should have been a lovely open space  and guess what?? no one wanted them. 

a small caveat here, anyone who's community is served by administrators put in place by these builders  please check the accounts   we moved away from ours as soon as we could  and have been trying to uncover the tangled web of accounts for the past 3 years.

This message was last edited by cooberpedy on 11/06/2011.

Hi folks

We also bought in 2005. We did have bank guarantees but to be honest I think they are pretty worthless at this stage because the properties are built. Like many others we had to wait a long time and the performance of Peinsa was disgraceful to say the least. However, my solicitor (a new one) strongly advised that rather than go to court (whcih he said we would win our case but may never see the money!!) we should chase them for a better property in an earlier completed phase. This we did and we are delighted. Like Mick I wont go into the merits of CDP as I see them because there is a long road to travel before the development is completely finished to the standard we expected. However, as my solicitor pointed out we now own a fully legal and fully licensed property which gives us rights. Of course if we had gone to court - and won - and got our money back we could have bought something similar for a reduced price because of the GFC. However, we could still be sitting here with a moral victory under our belt but no money. As it is we have had 2 great years here. (I'm typing this from the newly opened Mar Y lUna) sipping a San Miguel in about 27 degrees! Yum.

BTW could someone give me real evidence that Peinsa are in liquidation - they deny it!!

Best for now

Sean