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Yes Joannie it would seem to be and by the time we got you to court you would have spent it all just like SJ
apparently they have it all tucked away in Off shore and Swiss accounts . Perhaps that's what you should do .I am in .
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Hi all,
I am posting the content of an email from my solicitor some good news for a change I thought it might cheer everyone up.
Dear Sir/Madame;
Let me inform you that today I received an email from Mr. Abraham García (Legal Administrator of Herrada del Tollo, S.L.). In that email Mr. Garcia says that there is an investment group interested to put money on the development, he expect to have more information at the end of October.
I will keep you informed.
Regards.
best wishes
brianmags
R4 556
I Want My House
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Good morning Brianmags,
Please can you confirm that they intend to honor the option of signing a new Contract to continue with our original purchase or give us a full refund of Deposit as they stated at your meeting and in the July Report ? It is clearly written that they would. I personally want nothing more to do with them now or in the future. I dont blame anyone for all their individual reasons for continuing as yet again we may be in a position of making a more informed decision some 4 years down the road for those of us who dont.
Then we all get what we want. How sweet life would be.
Ive emailed my Lawyer with this information and asked him to confirm it with the Administrators what is being claimed on the forum regarding the sale of SADM.
I hope we all get a result soon.
Sal
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Sal
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Hi Julie Anne
I apologise if you feel that I have insulted you, however I would like to reiterate that it was not intended to be an insult. I asked FIN, and you, if you were purchasers at SADM as you had mentioned other SJ developments. A simple question, and a simple "yes" or "no" would have been enough, without the need to give further details. I am genuinely sorry if I upset you, however I wasn't trying to do so. I have made posts on the forum asking people to be nice to each other, and I am not a hypocrite, so why would I want to be nasty and upset other people?
The reason I asked about sources was that there has been a lot of speculation on this forum, as you know. It is helpful to know where the information comes from so that we can make our own minds up as how reliable the information may be. Brianmags has quoted from his solicitor's email, naming the source. I am sure that you have made your mind up about this particular email  . You quote several sources which many people will consider to be reliable sources, so it would be helpful in future to be given some indication of where your information has come from, as that helps us all put it in context. In the past we have had letters on the forum which we have been told are from Costa Blanca News - no doubt there are several different opinions on the reliability of CBN! (I don't want to be sued by them so won't say any more than that). Many people on here don't reveal who they are and could have a hiddent agenda, so it is helpful to have as much information as possible so we can decide whether a post is genuine or not.
By the way, as there seems to be a growing number of people WWTMB, I am starting a new thread. Hope that is OK!
Best wishes to all of you, whether YWYH or YWYMB.
Sue
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Sue Walker
Author of "Retiring the Ole Way", now available on Amazon
See my blog about our life in Spain: www.spainuncovered.com
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Hi All,
I have the same solicitor as Brianmags and I recieved the same email regarding the refinancing of SADM.
I want my house and I appreciate that there are those who wish to have their money back and I sincerly think that the best way for them to get it is for SADM to go ahead. Why do I think this? Well when we met with Almudena we asked pointedly where is the money and to be blunt, it has been spent on the devlopment ( which it seems they can legally do). So to get the money back there needs to be money there to have and the best way for that to happen is by going ahead with SADM and generating income. I know that people would like an instant solution to getting their money back but the legal process gives them up to 5 years to repay the funds and they can do that on an instalment basis.
Some purchasers may be seeking to get another property and needs the funds for that but please be very carefull not to make plans reliant upon the funds held in deposit at SADM.
With the email form the administrator concerning refinancing of SADM, it does give me the impression that the negotiations must be at an advanced stage to be refered to by an officer of the Court to my solicitor. It is therefore possible that the offer of new purchase contracts could be being made soon and that is when to decide if you want to go for your money. Check the time scales of the build and the repayment of your deposit to ensure that you do not end up still waiting for money to be returned to you whilst your property is completed. I do not wish for any one to loose out due to a loss of patience, although I do understand it.
All the best
I want my House
Tony R17 18
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Tony, seeing as you consider the re-financing and re-structuring to be so simple, reading your comments. You are wasted here. USA needs you now to deal with the financial crisis.
Regarding the stage the negotiations are at, I am surprised that the people that you "rub shoulders" with haven't kept you informed. There are many now who are aware what stage proceedings really are.
Why not try calling that nice person Almudena, then you will know the full picture.
Now all it will take is all those who are owed mony to start legal action, then the big bang will come, unless some side deal has been tabled to protect?
Your money has been spent on the development. WOW, what a shock that is.
So, the funds were not in place for the development, from bank funding or company profits????
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FIN,
What are you on?
Why do you feel the need to respond to almost every post on this forum?
Are you getting somekind of twisted kick out of this situation mainly at the purchasers expense? You have openly admitted you have not purchased a property.
Most if not all of your comments are sarcastic or negative, you seem to know everything & the minute anyone tries to attempt to install a positive remark, you cant wait to put a negative slant to it, come on Fin i think its time for you to give us all a break, we are not all as stupid as you like to think , for christs sake we are all facing the prospect of losing substantial amounts of money & all you can do is post comments such as "why not call that nice person Almudena" or "The USA needs you" is it all really necessary, call me dumb,gullible,naive or anything else you wish to but so long as there is a hope then i want to cling on to it, what i dont need is someone like you ramming your opinions or credence down my throat everytime i log on to EOS...... Take a Break... Have a kitkat!
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FIN its your continual sarcasm that is not appreciated. Your postings have a certain cringability most of the time lately. When you leave it out you can actually have some very very good points for us to ponder. Give it a go eh?
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Sal
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Naaaah, give what is deserved. Don't give facts and good old common sense advice, they are snubbed by many. Only listen to what the good developer wants you to believe.
If good points to ponder are offered, they are rubbished in return. Just shows what SADM community would have been like. This message was last edited by FriendinNeed on 9/30/2008.
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FIN, no one in their right mind would listen to the Developer alone. Your right, its the facts and mostly the common sense that we read and digest and on a personal level,
I still would prefer my money back. I have just spent four more precious months negotiating with these people and yet again they have failed to complete (not counting the cost), so please dont think THEY have any influence on any future decision I make. It will be a purely self preservation decision for me and my family if given any choice.
Sal
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Sal
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Hi Sal
I notice Tony says Almudena said unfortunately nearly all the money has been spent on development.....isnt this the same guy who said they had 300m euros in an account to honour the deposits..
Are we getting the real facts here.
If we start saying the L word.......it may be the time to send for international solicitor rescue
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Best wishes, Brian
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FIN continue mate there are few that talk good sense on her.
lets just remember that san jose still run the company and the administrators do as they are told.Up to now they are able to furnish no evidence or factual proof that anyone is interested in the development. All we have heard is spin and little else. Interestingly enough there are changes and developments moving forward. There was a russian company interested then a spanish company interested but no deal!!! Lets remember that the town hall gave a thirty day deadline to herrada del tollo months ago to resolve the expropriation or wipe it completely. This has now lapsed as has the expropriation. They therefore have no licences, do not own all the land, have no money to pay for them and a large percentage of properties unsold. furthermore the administrators are now openly accepting that the majority of people want their money back..but dont mistake for a moment that they want you to be successful. The business will close and they will look to pay off the privaleged creditors at the expense of us. thanksfully a large number of owners lodged appeals to the process before the deadline and will try to thwart their attempts to steal deposits.
Brianmags and Tony. I would not listen to a word you say or the administrators as I feel neither of you are able to distinguish spin from reality. They are not allowed to spend the money at all. They are allowed to spend elements of it on specific parts of the build but that has not happened. If it is not in a separate account and has disappeared down a big pot then that is illegal and they will face criminal charges (on top of those already filed) for misappropriation of funds. as they have already reported to the court that the money is separate then they will face further charges of account irregularities and fraud to go along with all the other charges levied.
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