If cannot pay Inheritance Tax?

Hi everyone

Went to the phase 2 community meeting on 11 April and was unhappy to hear the the developers have gone into adminisration. Was assured that this will not cause problems as the complex is finished.Only problem is that they still own several unsold apartments and will now not be able to pay their share of the community fees.Also several owners have not paid their fees either so surely the budget will not be enough? Was also assured this will be ok but not convinced.

On a brigther note the sun was shining, had a few drinks and met some new people. Hi Rob & Chris.

On the ball City!!!!

Hi there,

any idea if this will impact the county club or is this run by a seperate company? Was there any further work the developer was supposed to finish on site? Also, any truth in what people were saying on this forum about the occupation licence?

By the way hows the development looking now as I haven't managed to get out there for a year now.

thanks

alex

HELLO ALEX

AS FAR AS I CAN MAKE OUT IS THAT THE COUNTRY CLUB IS RUN BY A DIFFERENT COMPANY SO IT SHOULD NOT BE AFFECTED, I CERTAINLY HOPE NOT. THE COMPLEX IS FINISHED AND LOOKS REALLY NICE BUT WHAT HAPPENS IF THERE ARE ANY PROBLEMS I`M NOT SO SURE.

THE LICENCE OF OCCUPATION AFFECT ONE BLOCK ON PHASE 2 AND THE CHIRENQUITA(spelling never was my strong point!!) APPARENTLY THEY WERE SUBMITED TOGETHER AND THIS IS WHAT CAUSED THE PROBLEM.

I DO NOT THINK ALL THIS SHOULD CAUSE TO MANY PROBLEMS APART FROM DRAGGING APARTMENT VALUES EVEN FURTHER DOWN.

thanks for the response. I hope they get this all sorted soon.

rgds

Alex

Nice to meet you too Chris.Will meet up for a drink one day when are visits co-incide.Don`t worry if you leave some beer when you stay in the summer i will clear it up for you!!!! Bet you can`t buy it from the English supermarket (opening soon??)

Rob Mac where are you?

Hi Andrew,  Chris,  Alex... 

Im just back from Costa Galera, arrived in Bournemouth to cold and wet and to make it worse had to go to work 4 hours later, nice 12 hour night shift running JP Morgan computer systems, what joy *L*

The weather stayed real nice and we only had 2 nights of rain, they cleared by late morning and sun came out,  now have a nice Tan...

We took a drive up our mountain range,  oh my,  how scary,  the final leg was a single car width road, hardly any safety and going at 5mph was to fast *LOL*, sadly we didn't make it  to the top,  but views we had were superb...

I had a look down at shops,  The opening soon supermarket has hardly changed since xmas,  empty inside, looks either like they have pulled out or waiting on electrics to be connected,  i can't see anything else opening anytime soon...

La Galera Park phase 2 looks nice,  so at least im not looking at a building site anynore,  also there gardens seem to be coming along, Liz will be happy, i even saw large Palm tree's being delivered...

Carol and Jeff chased up Labaro about snagging and leaks but they advised to go through insurance as there in administration. i think we will be ok as complex is complete,  only prob is getting money for the 40 odd apts Labaro own and also getting money from owners,  lets hope if they go to court they will pay up...

I managed to get my sky fixed by Orbit in Estepona,  46 euros for new connection joint in wire, not to bad...

We are going back in May,  9th to 14th,  my flight is only £45, result :-)  we will also be back in June 6th - 13th....

Andrew it was nice meeting you, say hello the the lovely Julie...hope to see you out there in the near future...

Does Sarah and Clive come on here ???

Cheers

Rob 

Ps. Up the gunners... great football, sadly not the season we wanted...

Hi Rob

I told Sarah & Clive about the site so maybe they will.Glad the weather stayed fine only wish we were still there to enjoy it.

From the teenagers!!!!!!!!!Ha Ha Ha

Had another e-mail today (22 April) from Gumer which makes better reading and doesn`t sound as bad as yesterday.Have pasted it below if anyone hasn`t seen it.

1º) Labaro has filed a creditor’s meeting at the Nr. 4, Courts in Madrid.

2º) This situation only affects Labaro as a company.

3º) Lábaro is still working, but supervised by a judge.

 4º) Once Lábaro sells part of its assets it will go back to its original status.

 5º) This situation does not affect any owner or property.

6º) This situation only affects those owners who could have damages pending to be resolved in their apartments, but their dossiers remain open and will be repaired once Lábaro recovers.

6) This situation does not affect Costa Galera as a community of owners, as the community administrator is carrying out a feasibility plan to always give the minimum services (Security, gardens, swimming pools…) without a rise in fees, this is possible with a stronger management of our resources and hiring self employed gardeners and security staff, avoiding middleman companies and therefore saving on taxes and profit margins of these companies.

 We still need the collaboration of all of our owners, and actually in each of our meetings, the go ahead with legal action has been approved against those owners who have debts higher than 1.000,00 euros. All of these owners must know that through those debts they could LOSE THEIR PROPERTY within one year.