Hi everyone involved in this story,
We would like to give you an update with regards to the current situation about San Jose.
On Wednesday, the Judicial Administrators were finally named for the two companies involved in the procedure through the Trade Register of Alicante. San Jose has as Administrators to Mr. Pedro Agarra (Economist) and Mr. José Luis García (Lawyer). In representation of creditors, it is CAM bank (Caja de Ahorros del Mediterraneo). errada del Tollo has a Administrators to Mr. Jose A. Pascual (economist), Mr. Abraham García (Lawyer) and CAM bank in representation of creditors.
The above mentioned Judicial Administrators accept and assume jointly the faculties of administration of the companies, being the ordinary exercise left to them to be judged and to authorise and show conformity.
However, nobody should think or speculate with the idea that CAM bank would be having any sort of favour treatment towards their debts o the ones of their clients. They have the responsibility to watch over all creditors equally. We wanted to point this out in order to avoid clients going to CAM bank thinking they would be having any advantage.
Administrators, apart from paying to creditors or negotiating with them the way they will be paid, they will be working to finish those projects pending to completion. It is even possible that a bank would be ready to finance the finalization of some projects in order for clients to complete the purchase and in that way, they would be getting cash money for the company. Therefore, not all creditors will be paid in cash or in properties. Each one will have a particular treatment.
San Jose in the application for voluntary administration included some purchasers as creditors, mainly purchasers of El Pinet, due to this was the most problematic one from the urbanistic point of view. In fact, we were able to have access to this list and are able to check who and for what amount. The rest of people will have to present before the Administrators the receipts of their debt (with private purchase contracts, receipts of payment, etc). Nevertheless, we consider very interesting for some purchasers to present some sort of lawsuits to cancel contracts and claiming back for their money, something that will depend very much on the specific situation of each one. We have to take into account that as much the situation goes on, the resolutions will be more personalized.
Bearing in mind that in notifications to Administrators or in the judicial procedure the documents to be presented must be originals, please give them just to professionals in whom you trust.
Finally we would like to inform you that in case of having properties to both companies (San Jose and Herrada del Tollo), you will have to initiate two different procedures although parallel and linked.
We will keep you informed about any news we could have access to.
Regards