SARCO

 What I understand is that there maybe deals in the offing to secure El Pinet & Playa Golf, but that SADM is likely to be too big and too expensive to save.

Fingers crossed for us all !

As a cynic then I would say this and warn you. The report, according to the administrators (outside of SARC sources) will be published today. I understand that it will take  two/three weeks to spin its way down to all our lawyers. I then understand that there is a ten day window to contest anything within the report. 

Am I being too cynical to suggest that this has been deliberately timed to come out over christmas where they feel that many, normally challenging customers and professionals will be less likely to respond?????????

Hi All,

I notice that despite SARC members and myself respecting Joanie666 request to leave her and her merry little band free to pst on their thread, bar a polite posting to clarify a point by myself, that she and the gang feel free to be abusive on the SARC thread. I think it is a shame that they appear to have double standards and it makes me wonder if this is how they approach everything in their lives.

As for the "points " raised:

The report was  delayed in going in not due to a "conspiracy" or "becuase its Christmas.oooohh a delay" but due to having to check a large number of quieries from purchasers concerning their declared deposits. (that will be in the SARC report)

As for the viability of SADM and HdT, yet again this will be in the SARC report and I discussed this at length with Almudena on Tuesday.  In short it is not looking gloomy despite the comments etc from varrious parties who may have a conflict of interest regarding SADM.

As for the daft personal remarks, I am sorry to say that I have no interest in them and find them pointless childishness made purely because there is no good reason for not wanting your house and doing something daft like trying to litigate against a company with no funds to pay you back.

As for myself and the very sensible members of SARC we will wait for the report and the opportunity to have our properties.

 I WANT MY HOUSE AND FOR ALL TO HAVE A POSITIVE OUTCOME, DESPITE THE EFFORTS OF A FEW TO PREVENT THIS FROM HAPPENING

Tony R17 18

Hi Tiger. For idiots like me, how about translating that into English, so we can read it?

Hi All,

Firstly the December SARC update report  went out to members yesterday and will be on the SARC website shortly.  Secondly we have recieved a copy of the inform and are endeavouring to get in translated into English and then making it available to all to down load on the SARC website. Please do not jump to any conclusions based on rumours or comments until you have a translated completed copy to read and make any judgements upon.

 I WANT MY HOUSE

Tony R17 18

Tosh ,Tosh and more tosh make sure you  are legally informed not just by SARC .Who could have cost you everything !!!!!!

Put it on the sarc website in Spanish.........let people have the actual copy...i think most people have seen your translations before Tony.......

Then put your translation on so people can have the whole picture.

Briando,

So you wish to keep up making up stories do you? I have not translated any thing before, so I find your comment odd!

 I WANT MY HOUSE

Tony R17 18

Hi all,

Please excuse my translation, but this paragraph may be of interest (Administrators report, page 80): “In order to achieve this task (the completion of SADM), important finance will be needed, a very high degree of negotiation with the buyers of homes to persuade them not to resolve their contracts, accepting the renewal of these, accepting the new locations of the houses and renegotiation of completion dates, with a very strict planning of costs and times based in real construction costs for when the build licenses are to be granted, quotations for re starting the works, and completion dates for when habitation licenses are to be granted”.

Regards,

Tony has been doing a grand job  on behalf of HdT of persuading people not to resolve  their contracts or to litigate  .We can now all see this was a big mistake as people would be in a much better position if they had as SADM is not likely to go ahead now .Tony do you feel stupid now being duped by HdT twice and encouraging others into action that will now mean no house and no money .Tony you should be ashamed.Hope all those who joined SARC for info were also listening to their lawyers but I fear some have not . JA

Hi Martin

As there has been a lot of speculation, with claims and counter claims, first of all I would like to thank you for sharing that with us.  I would prefer to believe an independent lawyer than people who may have vested interests. 

Secondly, would you mind answering the following question? If Herrada del Tollo do not get the finance to go ahead with SADM, bearing in mind that their assets seem to be tied up with the development (i.e. the money they will receive from purchasers when their houses have been completed), how will people be able to get their deposits back if they reverse their contracts and do not have a bank guarantee?  Will the parent company, San Jose group, have to pay up?

Kind regards.

Sue

 Martin please correct me if I a wrong. I always defer to a legal professional who has studied and knows far more than me (well worth the money)

Normally no you would not be able to claim from san jose. However there are many claims regarding cross subsidisation of companies and fraud in terms of accounting. If this can be substantiated trough the courts then you could try to reclaim criminal damages?? The best way is to try and get privaleged status. HDT has assets and these would fund those successful in the courts.

Hi Joannie

The report does show a 'gap' in the finances of a considerable sum, in millions.

All the reader of the report can probably say is that its not stated where the money is, or has gone.

Wouldnt it be up to the administration nto make recomendations about further audit or fraud investigations?  The missing money would be a criminal accusation but we just want to defend and have our credit returned.

Thats one of the problems i have with SARC, it dosnt just want to defend its credit, it has decided the best possible action to take and has predicted the best outcome and how to achieve it.  My view and my experience says, let each stage happen and then decide on the facts arising...................any chance the missing funds can be challenged in law does anyone know?

HdT have been trying to get finance for the last 6 months and that was before the credit crunch really began to bite! To my mind if they haven`t been able to secure finance by now they haven`t a hope in hell of getting it now! The Administrators have advised cancellation of 3 phases on SADM, what is the development going to look like if they do get finance? You will be left with a development as it stands now, with absolutely no facilities. Not the dream we were all sold is it? I for one wouldn`t touch HdT with a barge pole!!! Cheers Joanniemac

Hi Briando, I couldn`t get my head round the missing millions either. Wasn`t the report by the Administrators to do a complete audit? I felt that the missing millions was just papered over, thats just my opinion, having not read the full report. It does seem breathtaking in its audacity that a report can be submitted to the courts and no explanation given as to where the money has gone!! Maybe Almu has got lots of new shoes!! Cheers Joanniemac

Hi All,

I prefer to make comments on the report once we have it fully translated by an independant person with no possible conflict of interest.  On the face of it it appears to lean towards SADM going ahead with purchasers having the ability to renegotiate their contract. This is as has been said several times in the SARC reports.

AS for those of you who keep on about where is the money, well that is a pointless waste of time. As for refinancing it takes time and yes it has been a while but as there are still 3 parties being negotiated with and more purchasers joining SARC and I WANT MY HOUSE , the probability of it proceeding is not looking bad. However, we all need to wait until we can read the whole report, digest what it says and then think about what is the best course of action etc.

OH YES........I STILL WANT MY HOUSE AND FOR EVERY SINGLE PURCHASERS TO HAVE THE CHANCE TO HAVE THEIRS TOO

HAPPY CHRISTMAS

Tony R17 18

Tosh Tosh and more tosh    .Tony you are indeed  barking  mad !!!!!!!!!!!!!!!!!!!!!!!!!  It is soooooo  over   !!!!!!!!!!!!!!!!! Please  please please give us peace !!!!!!!!!!!!!!!           Have you read the report.      It is   over over over.  Please let me know which part  of this you don't understand !!!!!!!!!!

Please   !!!!!!!!!     enough  already !!!!!!!!!!!!!!!!!!!!!!      Tiger  grrrrrrrrrrrrrrrr

Ja,

it is a shame that there is never any real substance to your posts, just derogatory remarks. Please read my post properly " we are having it fully translated into English"  I take it that you missed that but rest assured the report will be translated and your daft remarks will then be dealt with.

 I WANT MY HOUSE  AND FOR EVERY SINGLE PURCHASERS  TO HAVE THE OPPORTUNITY TO HAVE THIER HOUSE TOO,

Tony R17 18

Here we go again JA 

                           more histeronics and abuse thats all you realy do what a shame

                                   ITS CHRISTMAS !!!! (in a rich Dudley accent)

brianmags

R4 556

I WANT MY HOUSE

and I just might get it

Should we turn a blind eye to the close connection , help ,defence and assistance you have given  to SJ/HdT  which has enabled them to shaft us.Are you suggesting that we all say that this is  ok becauseit is Christmas time  ? You are barking !