I want my house

Hi Ken,
Quick reply to your safe issue. The administrators are appointed by the Court, the court knows of the account and money and the laws that protect it. So do we think that the administrators or court are going to allow anything to happen to the money?
No. It is not going to happen. So lets relax and stop chasing our tails. For once welcome some good news and if you have a doubt get your own solicitor to check.
In the meantime I am going to enjoy the moment....
And     yup   I want my House
All the best to you and every one

Tony R17 18


Ken.

Hi Ken

I know the pastings you have put on, i have read these and remember them as i read them.  When i read them now they say the same as they did first time, they are just opinions and guesses and make believe.

You did mention that a reputable solicitor had said the deposit money was in an account?  Who was that and can you ask them directly.  They are the first clue to the truth or accuracy.

What i was saying in my last posting was this......

If deposit money is placed in an account through a transaction number and not touched, at all, it could be argued that this should be available to the depositor, because it was intended to be held for them.  I think an administrator would take that view dont you?

On the other hand if the account has been used for any other purpose and the money has been coming out for the business, and then going back in, in other words being used, it shouldnt matter if its the full amount in there or not....its clearly not depositors money that is held, its been used for other purposes and would be looked on as a trading account.

These are my opinions, not facts......all i can substantiate these statements with are experience of other dealings.  I would say i was more reliable than the newspaper lad though.

I think it will be more likley that we wont here anything now  form the administraters until September remembering the court etc shuts for the whole of August.

Hi Brianmags.  I dont really want to have to explain basic details, please note this is me speaking and not a cut and paste or a soundbite.

Im sorry to have to say this but you have just made my point for me about the innacuracy of your interpretation of events and information.  In an effort to relay news to people and sugar coat it to make a 'feelgood' factor', you have taken little snips of information and placed them on here as reasons to be cheerfull.

Just small points to make for you to explain to me if you wish, i want to keep it fairly simple.

It was portrayed that San Jose Grupo (albeit the wrong way round) are negotiating for finance with several institutions....is that correct  (read it again)

It was portrayed that 'according to' the individual administrator named Navarro this information was made available through a newspaper reporter.

You have now re-posted with a little more accuracy  (thanks to me) by saying the administrators look at the viability of the company and explore the financial aspects, including finance.  This happens all over the modern financial world, its not just peculiar to Spain.  Administrators do that, check my prior postings.

I have been saying that all along, maybe if i buy a loud hailer and stand on a wall it may sink in.      The administrators have control of this situation now.....not the newspapers, not the local town halls with the licences, not the i want to buys or the i want me money backs....the administrators as an appointed group and body.

If you or anyone else tries to imply that groupo san jose are negotiating with finance institutions, or according to an individual administrator this is happening, i will point out that this is bunkem, because it is bunkem.  I am here to tell it like it is because it affects me also.  If the builder thinks we are a soft touch because we believe everything that gets thrown at us, they will take the rest of your money off you without blinking an eye

As i keep saying.....be carefull..

 

Brian

Hi All,

Of course they are looking at refinancing otherwise what would the point be? My solicitor understands this and I bet your does too. Why not ask?

All the best, I have flu and I am back to bed.

and I still want my House
Tony R1718

I rest my case......the last post fails to say who is looking at re-financing.

Is that deliberately sparse information, just so you can believe what you want to.....answer yes it is.

The administrators are considering every aspect, including the possibility of re-financing.......Why is this so hard to understand.

San Jose grupo went into administration because they couldnt re-finance,,,,,,if they could have re-financed they wouldnt have gone into administration.

To say of course they are looking at re-financing is such a non statement its not even worth saying......it is worth saying that its the administration looking at it......not San Jose Grupo.

The other problem is that a newspaper article becomes something to get excited about even when it is inaccurate, badly reported and has statements gathered over months and months, coming together in an article which is bunkem.....bunkem

And guess what, its not just that someone believes it.......its that its placed on here as 'public domain information and we should be happy'

bunkem

Voluntary Administration – responsible management

The Voluntary Administration (VA) regime is a process by which a company voluntarily requests assistance from a qualified administrator to improve the company’s financial position and get the company ‘back on its feet’.

The VA regime was established as an alternative to liquidation for companies facing cashflow or other financial difficulties, and to allow the process to begin quickly enough for steps to be taken to effectively improve the position of the business.

The VA process allows a company to try and come to a compromise or arrangement with its creditors in a manner that will both save the company and maximise the returns to creditors.

Many businesses that choose the VA alternative emerge from the process stronger, smarter and more financially stable.

A VA offers Directors statutory protection from legal action and creditors while efforts are made to solve the company’s financial problems. The primary intention of a VA is to maximise the chances of a successful recovery and return the company to profitability. During a VA the administrator works with the company to assess the business, determine its position and generate a go-forward strategy.

A deed of company arrangement (DOCA), which is a formal arrangement between a company and its creditors to pay its debts over a period of time, can lead to a much better outcome for all parties involved – the company, its employees and the company’s creditors - than would otherwise occur were the company to continue to limp forward into an eroding balance sheet. Many businesses that choose the VA alternative emerge from the process stronger, smarter and more financially stable.

In many cases, a VA can be the most healthy and positive solution for a business facing difficulties.

It is important to note that a VA does not necessarily mean the end of the company or of the business and it is not an admission of failure by the directors. In many cases, a VA can be the most healthy and positive solution for a business facing difficulties. A VA can allow a business breathing space and time to step back, consolidate, solve problems and develop a plan to move forward into the future. It is an ideal vehicle for facilitating financial or operational restructuring, with the added benefit of statutory protection from creditors. A VA is a tool which is available for the use of responsible management.

Benefits of a Voluntary Administration

• Provides statutory protection from legal action
• Directors can re-focus from fire fighting to proactive business improvement
• Administrator works with company to improve profitability
• Allows negotiation with creditors
• Avoids insolvent trading
• Company can often trade out of difficulty

I posted this on the bank guarantee site earlier.....does anyone have an answer to the challenge for this one?

Thanks for that information Darren, i will have a look at that site later, did Julie ann say you get kicked out if you dont agree with the IWMY brigade?.......oops looks like i may be in for a kicking then.  

The rules with some of those people are........say anything you like as long as we agree..........we say anything we like regardless of you agreeing..............If we find any news regardless of accuracy, we will let you have it and you will then be happy and glad. because you will be told its accurate...........

With rules like that you are of course certain to have your house and sip cocktails in the bar any day soon after those naughty administrators have gone.

Linda.....we were offered our money back by San Jose, they told us we could have it on July 10th because it had to be taken from the business accounts.    That means this week we would be able to get on with our lives and leave others to do the same.

If the money was safe and secure in a seperate account, as the IWMY people are saying and as legal requirements suggest, it would have been an easy thing to do.....just pay us up in January, no probs.

I have been interested and set a challenge to find anyone who has been paid by a bank guarantee.....guess what, no one has.

Be carefull people.......very carefull