Procabar and grupo masa

We purchased 11-22 in 2008 but had to pull out due to property being uninhabitable, we lost a huge amount of money and like some of you could not afford to chase a wasted cause. 8 years on we are now a total of €200,000 out of pocket €20,000 down to Atlas and Massa combined. I thought we were alone but reading the blogs I realise there are others in the same boat. We can really empathise with you all, our story is far more complex than our statement appears here, but I do agree that companies involved and some individuals should be brought to book, if not in Spain( some hope) maybe in the European courts so as not to let this happen again. A Reed

It is sad that you put your deposit on in 2008, as by then Atlas must have realised that things had gone wrong. Our house was M11-4 we put our deposit on in 2006, it was complete apart from garden wall and gates. Should have been ready to hand over in March 2007 no one could tell us why we couldn't sign over. By 2008 they still wouldn't sign over so we started court proceedings. The Court case took until 2010 when we finally won our case, however, neither Procobar nor the banks would pay up and after further court hearings to get the money we finally heard they had gone into liquidation owing  ........ 64,000,000 million euros. Although we were special creditors there was no chance of getting our money back, so earlier this year our solicitor started proceedings to try to get our money back from the Bank under Ley 58/67, we are awaiting a court date for this now.

How did you come to lose so much money? We lost 30% of the total value! did you pay the whole amount and was it just not finished. It looks like they were selling houses in 2008 still knowing they couldn't release them for some reason. We still don't know why they could not sign over those houses as since then, they have signed over some on the opposite side of they street, built the swimming pool and bar and compensates Atlas with houses M10, 12 and 14. Can you tell us more about your situation?

M11-4.      

We used Atlas and paid deposit in Oct 2006 paid the payments and waited thought as told be in 2007.  Had lots of communication with Mass we had seen our house on 2006 but couldn't go in as large holes outside. I kept on and on to Atlas and eventually we went out January 2008 to sign.  Atlas warned maybe no electric or water connected. But apart from shock when we did our own recki on Sunday seeing very little finished.. when  We went to do snagging on Monday all before completion at notary. House fine and electric and water connected. So we had roads and basics.  We signed at Roche with Mass And bank and the interpreter. Took keys 11.05.08. People we later made friends with signed same day wanted to live in their home but had no electric and did not realise for few years they still had builders electric.  Only few doors away from us. Atlas tried to put us off then.  I wonder how they've been selling the properties they've been given as payment as they've not advertised SG since 2009.   We do love our house no we are not resident full time. But it can be so much more if all work together on site.  Hopefully the economy will improve. I am sorry for all those whose dreams have been shattered.        Those who wanted new start new life but it didn't work out. 

  We never wanted a quick buck so that is probably our saving grace.  Long term investment probably longer than we thought but that's okay.  Atlas were only estate agents and protect their own interest.  Good luck to all what we may have lost in money we have made friends and had wonderful times. 

Hi Gazzap,  

We were in a position to pay our final payment at the notary ages ago!!( 2010 ish) but our eagle-eyed Solicitor( power of attorney) noticed that Procobar had secured a loan against our property and had not repaid it. He refused to sign the paperwork until they did so. A further later meeting with the Notary proved to be a waste of time because Procobar still hadn't repaid the loan (105000 euros!!) so we were forced to cancel the contract and Court action followed. Our Solicitor has placed a charge on three of Procobar properties which happened to be free of debt and the case went to Court. Like most , the case was found in our favour and we were granted our money back plus interest. This happened at the beginning of 2012. To date we have received nothing.

According to our Solicitor, The primary creditors are the workers, the suppliers, those with first charges against assets, then the banks ( who forced the bancruptcy)

Supposedly we are in a position to get our/some of our money back but close on two years later we a nowhwere

My only relief is that we could have bought the property ( for cash) and have been hit with a 105000 euro debt to the bank!!!

I wonder if there are any others who are in the same situation or who actually signed on the dotted line and are now in the sxxte!!

Dunno about you but communication with my Solicitor is verrrry difficult and the only information I seem to have is the the Spanish Legal system is verrrrrrrrrrrrrry slow and a law unto itself.

What say you?

42354

Case won against Santander bank in  Sierra Golf!

If you need more info, please, feel free to contact us

Best weekend

M

María,

Can you tell us more about this case please. We are intrigued. .?????

Hi 

We have been contacted by a Abogados called JJCA & AS who are basesd in Alicante who state that they have obtained our details from the liquidation process of the developer and that they are representing hundreds of clients who have lost their deposite when they tried to buy a property off plan.

They work on a no win no fee basis and claim to have a 97% sucess rate, has anyone else on this forum heard of them or maybe have used this company or know if they are guinune or if they are bogus.

We dont normally deal with companies who initiate contact so we have lots of reservations regarding their intentions. 

We have received a letter from JLCA also claiming they have got our details from the list of Creditors.

They must be pretty good if they can get a result in 6 to 12 months...Our Solicitors have been chasing the developers and now the Bank since around 2010!!!!

Like they say ...If it seems too good to be true..then it probably is