Hallo

Congrats to everyone on their successes with deposit returns.

Anyone from Medina Golf had any luck yet? 

Hi Looney,

No luck yet.  My case against ACC has been accepted by the court but no date yet for a hearing.  I have not heard  of any Medina golf buyers who has got their money back.  Some Medina 23 and Fairways buyers seem to be getting results.  A result for any Medina golf would be very encouraging - is there anyone out there?

Best regards,

Donal

 Are there ME23 buyers that got their money back?

Has anyone noticed that on Peninsula's website, the 4 developments listed for sale under Medina Elvira are Fairways, ME23, Eden Golf and Tee 17? There is no mention of Medina Golf - I doubt it's sold out so I wonder if Peninsula have any intention of finishing it?...........thoughts anyone?

Whether they finish Medina Golf or not is nothing to do with Peninsula. Golf is being built by a different developer called Nadalsol. Peninsula are only acting as marketing agents on behalf of Medina Golf. Perhaps Peninsula have been given the 'boot' by Nadalsol. Ask your lawyer. He should know!!

Unless your lawyer happens to be Kriado and Kraus in which case - change now before you get properly screwed over guys.

   HI    All ,

                    Just  to let   you  all  know  I  have   just  got  my   deposit   back,  less  fees,   and  no  interest,  just  glad  to  get  something  back  w hich   I  wasnt    really  sure  about  getting  anything  back.   All   due  to   Patricia,  Maria,  and  their  excellent  team,. ,  who  did  a  fantastic  job  and  calmed  my  nerves   when needed!  I  can  certainly  recommend  them  as  first  class  Lawyers, who  always   replied  to  my  emails, not  like  my  last  legal  reps  in  Spain  , who  couldnt  be  bothered  to  reply.!  ANYWAY,  good  luck  to  anybody  who  has   bought  into   Medina  Elvira,  its  a beautiful  area  and  golf course, and   hope  it  all works  out  someday .  jont ,  ps    Suites  was  the  development

This message was last edited by jont9825 on 08/07/2010.

 That's great news, congratulations!! What development were you buying?

Cheers,

AIS

Good for you Jont and thank heavens for sites like this where ideas and difficulties can be exchanged and problems may be solved.

Hi,

I'm new to this forum and am totally frustrated with Medina Golf (as are most of you out there) I don't know who to turn to now, no news from my lawyers, Steve Hindley tried to make me swap apartments - but I just want out now.  I need some advice from you guys in the same predicament

Regards

Ginny

 Hi there, I've just got off the phone from Steve and he seems to think all is well over there with Medina.  Have you heard differently?  He seems to think it will going to be applying for mortgages soon..

Hi

   In only 2 months I just won a court case against Zurich, the insurance company who cover the amount of Nadalsol apartments.

Before Nadalsol obtain the habitation license all the buyers of Nadalsol who has a bank guarantee of Zurich will have a case against the insurance company in spite they are in a liquidation process.

If you want more information please do not hesiate to contact me at jose@lawfirminspain.com

Best regards

José Ramón Gutiérrez Giménez
Abogado / Lawyer
Registered in the Bar Association of Malaga ( 6182)
C/ Alonso de Bazan 3 2º C, 29602 Marbella ( Malaga)
Phone and fax number 0034 952771938
Mobile phone              0034 699794751

http://www.ideal.es/granada/v/20100408/granada/crisis-paraliza-pisos-medina-20100408.html

 Hi all,

I am delighted to advise that I have received a settlement of my claim from ACC / Zurich on foot of my bank guarantee.  I am particularly delighted as I know that many Medina Golf buyers who have claimed on the bank guarantee have been frustrated like me by the fact that Nadalsol are in administration.  The good news is that having gone through the process of sueing ACC / Zurich to enforce the guarantee, they decided to settle before the case got to court.  This is a breakthrough and I hope that everybody else can now claim under their guarantee with a positive expectation that the case will be settled.

My lawyer received the cheque last week, and it has been lodged to my bank account in Spain.  I received my original investment plus a portion of my legal costs.  I did waive the legal interest that I would have been entitled to if I had won the court case, but I was happy to negotiate a reasonable settlement and avoid the risk of taking it to court.  The settlement also means that I got my money back immediately, rather than risking a protracted court process in Spain.

I would be delighted to provide further details by private mail to anybody who is going through a similar process.  I can also recommend my lawyer, Miguel Gonzalez Raya, who is based in Almeria.  He has practical experience of negotiating a very good settlement for me.  

All the best in getting your money back, and many thanks to everybody who i exchanged emails with over the past year.  The EOS website was a godsend in providing me with practical information from others, and some hope that I would get my money back.

Good luck,

Donal79

Congratulations, that's great news.  At least people are starting to find solutions. Hopefully it will be some help to the rest of us too.

Unfortunately the problem for many of us is that we were never given bank guarantees, so we still have a long struggle!

Hey Mr UnHappy and everyone else,

The link sent: http://www.ideal.es/granada/v/20100408/granada/crisis-paraliza-pisos-medina-20100408.html 

My wife has just done a quick translation which reads as follows:

1)     The Medina Elvira resort had 1500 dwellings planned of which only 800 have been completed due to the economic crisis.

2)     Developers want to concentrate on putting on the market the properties that have already been completed.

3)     80% of the finished apartments have already been sold and are waiting to be occupied.

4)    Only one developer was forced to hand over their dwellings to a bank before going bankrupt (my guess Nadasol (Medina Golf))

5)     Atarfe's Mayor - Victor Sanchez HAS BEEN CHARGED WITH CORRUPTION and this added to the crisis as possible buyers have distrustfull of this project.

6)     The build of the 4* hotel has now been placed on hold by the developer Balboa due to the above.

7)     Neither the shopping centre, Atarfe Town Hall buildings or church has been built either as planned and all are on hold due the above.

8)     The private bi-lingual school has been built but only has two academic courses running (CUME)

9)     Enrique Cabrera RESPONSIBLE for Grupo Balboa and Golf Course director is confident that as 70% of buyers are foreigners and our countries are recovering then we will again invest our savings in this project.

I THINK THESE PEOPLE SHOULD READ OUR BOARDS LOL.

Hi

    I just returned the funds of several buyers of Nadalsol because I arrange an agreement with Zurich to obtain the money back.

In 2-3 weeks I can obtain your deposit in case you have a bank guarantee.

If you want more information please do not hesitate to contact me at jose@lawfirminspain.com

Best regards

José Ramón Gutiérrez Giménez
Abogado / Lawyer
Registered in the Bar Association of Malaga ( 6182)
C/ Alonso de Bazan 3 2º C, 29602 Marbella ( Malaga)
Phone and fax number 0034 952771938
Mobile phone              0034 699794751

I would like to recommend the services of Jose Ramon.  He successfully obtained a full payout from Zurich Insurance on our Bank Guarantee re our apartment purchase on the Medina Golf development.  (The original guarantee was provided by ACC Seguros who were subsequently acquired by Zurich).  The settlement with Zurich was reached within a matter of weeks without the requirement for any Court proceedings and the money was in our bank account less than 11 weeks after my initial contact with Jose on 21 July.  It probably would have been in our account even quicker if the lawyer from Zurich had not been on holiday for much of August. 

 That's fantastic news congratulations!!

By fully payout, do you include the 6% interest on your deposit and all legal fees?

Cheers,

Ais

PS Could I suggest you also post this on the main Bank Guarantee forum thread (http://www.eyeonspain.com/forums/Threads.aspx?dev=FB3), there are others there who will also appreciate your good news.

Hi, no that was the compromise, we waived the 6% and obviously as we didn't go to Court we were not awarded legal fees.  It is very annoying about the 6% but that was the only offer on the table from Zurich, we did try to insist this was paid as well but with no success.  If we had decided to hold out for the 6% then the claim would have dragged on.  Perhaps Zurich would have settled in full plus the 6%  just prior to Court proceedings, who knows?  However, we decided to take our money and run, rather than risking many months or even years of delays, or worst case scenario, being advised that we had to complete as the LFO had been granted!