Funeral insurance problems

This concerns everybody buying or due to complete on condado.The Mayor of torre pache has been charged and arrested for alleged corruption.The president of polaris world Jose Luis Hernandez also faces charges. To see more go to WWW.TYPICALLYSPANISH.COM.

We are due to complete in June but we are not willing to hand over any more money untill this is resolved.

Good luck

Pad

http://www.typicallyspanish.com/news/publish/article_15890.shtml

heres the link.

Thanks Pad!

Have read the news article

We have contacted our solicitor in Spain

We will be with holding our final payments as well!!!

Regards

Pam

Hi all

I have emailed my solicitor in Spain to ask about this, I have attached the article to my email for her to see and asked for her comments. I have also asked if our money is safe and is it protected by the bank guarantees. I would suggest you consider doing the same, but I will let you know the response I get.

Phil

Hi im not going to panic as we have bank guarantees and the good news is if the mayor has been arrested as i believe he has, this means the corruption has been exposed and the land grab law mainly acute in valencia should come to a stop. Regards Carol.

Please follow this link for an update on this issue. http://www.typicallyspanish.com/news/publish/article_15922.shtml

This is what our agent has said more or less-

Facundo Armero is under suspicion as the main man behind the corruption, and was previously a partner in Polaris World before he sold off his share for 300 million €.
El País said Daniel García  worked as a lawyer for Armero’s companies before his election as Mayor of Torre Pacheco.

The Polaris presidente hasn't been arrested but has been giving evidence. 

Not sure how accurate this is, but its what he was told  during a telephone call yesterday.

Have just read another news report dated 5th April and mayor has been sent to jail without bail (I'm a poet - didn't even know it!).  The 'deal' in question related to Mar Menor. 

I have spoken to my agent today regarding this matter and was assured that Polaris have issued them with a statement saying that the president of Polaris has been questioned and released with no further action - I think its a case of watch this space really.

anglebabe911, this is more or less what our agent also said. Maybe there's a difference between arrested and charged- as in charged to return to give evidence. Dont know ; but our agent also said if Hernandez becomes a problem Polaris would by pass him, he's a director they would get another. Again not sure how that works but this is just part of a huge investigation and in this instance relates to being given access to Mar Menor building plots for thousands of euro's rather than millions. However thats just the part of the investigation they are looking at now and could include other deals as one of the original reports talked about three sites relating to Polaris.

Thanks for the update.  I,for one, am still delighted with the product itself and the quality of the other developments.  I think it is important, though, to take a minimum 5-10 years outlook on the whole thing as the resorts should flourish into very desireable prospects.  Unless my lawyer screams at me otherwise, I am completing in June.

Shocked to hear that there's any link between Polaris World and corruption (or maybe I'm just naive). Is it the planning system in Spain that lends itself to corruption or is the people? Whatever it is, they need to get it sorted or confidence in the Spanish property market will crash!

I only hope that  the current Polaris developments are not unduly affected. But I do think Polaris now need to issue a press statement in an attempt reassure the market.

Is this the reason the recent publicity events in England were cancelled?

I've now contacted my  legal advisor in Spain  re.  bank guarantees, which I've still not received, worrying times!!

Tucker, this is what is worrying me at the moment - I still have not received my gaurantee from November payment.  I have spoken on phone several times and been told that it will be a few more weeks, few more weeks, getting a little impatient now.

My agent has confirmed that it IS the reason that the ' Welcome ' events have been cancelled - but as I said earlier its a case of watch and wait, but your correct in saying that Polaris should be courteous enough to issue us all with at least a statement explaining what the heck is going on and how it may affect us.

Carol

Have been up to site today and have been talking to the sales advisor, who obviously will be backing Polaris, told us that the president was called in to provide evidence of transactions and that it is nothing to be concerned about.

We do have heard that this is about something to do with Mar Menor (Torre Pacheco).  Will mention this to our Solicitor on Tuesday when we meet up with him to sign our wills but not overly concerned now that we have finally seen the finished product. 

   

On Saturday I emailed my solicitor in Spain to ask about this issue, below is the response I have received this morning, but please contact your own legal representatives and obtain your own reassurance.

Dear clients,

As far as we are concerned this case is related to plot located in a different village called Torre Pacheco.  It does not affect your development “Los Naranjos Golf Resot” located at Alhama.  The Town Hall exchanged this plot for another one, and according to the Spanish authorities there is an important difference in the reported plots’ values.

We are in possession of the building permit for your development and your payments on account are guaranteed with the corresponding bank guarantee.

Close to completion Polaris will be in possession of the certificate of completion duly signed and stamped by the architect and architectural engineer and the 10 year insurance police. 

Therefore your property is completely legal and will not be affected by this case. 

Hope the above helps

Phil

This message was last edited by PGM on 4/7/2008.

PGM,thanks for posting your solicitors reply.We are still waiting for ours to get back to us.While your reply is encouraging we are still wondering is this the tip of the iceberg or just a one off.One of the main reasons we chose polaris was the belife that there   a big company   who would do things correctly.We had a phone call from polaris today changing our completion date (flights and accomadation already booked)  they have got a problem with the paper work at the town hall!!

Fingers crossed

pad

Well I hope they offered to refund your flights!! You shouldn't be out of pocket over their c*** up!!  What a disappointment.   Hope you get your new date soon.  Sounds like more of us may get the same call though!

I have just read the posts below...........and am a little concerned.

As other people have stated, it is imperative that PW issue some kind of statement to clarify the situation.

One of the main reasons we bought with Polaris World was to avoid this sort of nonsense.

We always thought...............how could a company that was remotely dodgy have such a close affiliation with worldwide brands like 'Intercontinental Hotels' & Jack Nicklaus.

Until I am totally certain I aint handing over another cent.

 

 

Just to inform you that my Brother in law was completing on the 18th June (so are we) and he too had a telephone call from Polaris yesterday telling him that the completion date has been changed to August due to paperwork?

My brother in law is on Jardines 5 and we are on Jardines 4 but at present have heard nothing about our completion being set back?

Will keep you informed!!!!!!!!

Pam

When we first considered Polaris we looked at a few forum's and different threads across Polaris resorts, just to get an idea of what owners were concerned or complaining about. One of the main things was changes to completion dates requiring altering flights and accommodation, sometimes more than once, I think it is par for the course. We noticed that as completion picked up pace the complaints grew less and the company always reimbursed.  For some people going back and forth regarding snagging issues continued to cause problems for a while and made people quite angry. 

 It may be that as a result of the court case and inverstigation everything has been slowed down and rechecked. Maybe we'll be back to the original dates in the end!