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Have seen a press release today that states Parador Properties (Claire Sweeney fronted) have gone into liquidation due to a downturn in business. They say clients not affected don't know anything more than this.
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My friend rang Parador Properties today, and they are seemingly still sending clients out on tour and using the parador name, is that not illegal if they have gone in to administration?
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I HAVE to say, once again, that we bought through Parador 6 years ago and had NO PROBLEMS AT ALL.
It is hardly surprising that, in the present economic climate, many companies ( of varying types ) are going to the wall.
One way or another many people will suffer.
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 ' Do unto others as you would be done by'
Now a non-smoker ! 
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We are currently in a very tough time and it is no surprise that companies are going in to liquidation. I just did not understand how they could still trade when an official statement has been made confirming that they have gone in to liquidation. Surley that would look bad for companies that are owed money.
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First, Sophia_85, my post was not directed towards you and I did not mean any offence to you. I was just making the point that I had no probs with Parador and it is the economic situation to blame.
I think that going into liquidation is different to going bankrupt.
Liquidation probably means that they will have an official administrator looking after the business while they are assessed to see whether they can continue to trade. Bancrupcy means they have no money to trade.
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' Do unto others as you would be done by'
Now a non-smoker !
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Below is a copy of the press release
it appears to be a voluntary administration and is often a route taken when a buisness starts to get into problems which may be able to be sorted so that it can continue to trade again later on it's own
The administrators may just run the business as nornal whilst they look at all options, which may even be a sale after negotiations take place about the company's debts
San Jose went into administration [ Spanish version] also
Often the case that the biggest companies get hit first with downturns...we are seeing this in UK with Wimpey, Barret etc
It has happened before and the market and business will come back again....but not I suspect until circa 2010
Parador Properties, which was once considered to be one of Europe’s top estate agents, has gone into voluntary administration.
The company had operations in Ireland, Spain, Sweden, the United Arab Emirates, and the UK, though most of the homes it sells are located in Spain.
The company took a client-centered approach to property sales by flying prospective purchasers to their desired destinations and offering advice about specific areas and communities. Simon Lambert and managing director Jack Hamilton founded Parador in 1998.
Homes Overseas received a statement from Quay West Communications, Parador’s PR company, moments ago. It says: “It is with regret that Parador Properties has announced that, due to the downturn in the overseas property market, it has gone into voluntary administration. This does not affect property purchases by any of its clients, as all contracts were made between the individual client and the builder; Parador Properties acted only as an introductory agent.”
Whilst none of us wishes this on any agent, large or small, but if there is anyone who was planning to buy in Spain this year through Parodor, then there are a still a few of us who can help you.........perhaps providing a more low key service.....but an old fashioned professional one !!
2008 may yet turn out ot be a good time to buy for ' life style buyers'!!!
This message was last edited by rowlandsbb on 7/8/2008.
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I'm surprised the UK media have not picked up on the story normally any Spanish doom and gloom is welcomed with glee!
I heard that Parador are carrying on in Spain under a different name?
Also was told that the original directors now handle the direct sales for Polaris World?
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I heard rumours some time ago that one of the main directors of Parador had "left Spain in a hurry" Perhaps he knew what was coming.
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At last!!!! I just hope that people who have been crazy enough to buy through this dreadful company dont end up loosing money. We were stupid enough to go on an inspection tour in Sept 2005 and purchased a property in Spain with them,
to find out later on that the development didnt have planning permission, we were lucky tonly to have lost our deposit 3,000 euros, some other poor people lost thousands and are still in the process of trying to get their money back from the developer through the spainish courts!!! I know of over 2,000 UK people who purchased on this development - and
Parador were the main selling agents - local estate agents have since told us that every one locally knew about this
and none of them would touch this development....
Thankfully no one else will have to suffer this parador experience!!!!!!
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You may not have got your deposit back but you shouldn't have lost it.
Was it protected by a Bank guarantee first of all, MG ? I suspect you did not have one although it is your right. It is illegal for builders not to give you a BG.
Maria de Castro, our resident lawyer, has posted on the subject many times.
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Hi MG101,
I take it you are talking about Almonzora country club?
contrary to popular belief Parador properties have not gone.
The directors have split and the name and company will continue on albeit on a smaller scale.
regards
georgia
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www.taylorlandandpropertygroup.co.uk
still here after all these years!
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Yes it was ACC and we were given a lawyer by Parador properties - yes I know we broke all the rules and I now know that we should have got an independant lawyer - no we didnt have a bank guarantee, and neither did other people who purchased some paying over two or three installments, others did have a bank guarantee, but have been left in exactly the same situation, check out Viva Almeria forum for more details of this sorry story.....I just think it such a shame when not only do people lose their hard earned cash but their dream too!!!!! Sadly it put us off purchasing in Spain and we have since purchased in the Greek islands, we purchased through an independant estate agent and got an independant lawyer some other people that we met while in Spain havent been so lucky. These cheap viewing trips can turn out to be extremely expensive, please be warned !!!!
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Hi MG101 my son bought a villa at acc and parador sent him on an inspection trip 6 weeks ago he has his BG and they have transfered them to another site .I amwaiting to hear from him as he went again to see the new area and yes with the same builder he will not listen to me about getting his money back he thinks it will cost him 10,000 pounds to get his money back . Not sure the name of the new site he has transfered to but will let you no.Did they ask you to go to the new site?They are saying the builder has got planning permision for this site but i dont know ?bye irene
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Irene, MG101 said "Sadly it put us off purchasing in Spain and we have since purchased in the Greek islands"
I doubt if he's interested.
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Hi i told my son to buy a resale to be safe but he thinks its easy just to stay with the same builder.Is ACC near the earthquake area the other day?thanks irene
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Irene, it's at least 2 hrs south in Almeria.
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Hi Irene so sorry that your son has purchased at ACC, I cant believe it was only 6 weeks ago that parador took him on an inspection trip, we were aware of the situation with no planning in Feb 2006 and pulled out in August 2006 - my advise to your son, if he will listen is for him to go on viva almeria web site and go onto the forum there. There are groups of purchasers who are gettting together with one independant lawyer and taking Huma the developer to court, I wouldnt touch Huma or any of their developments you only have to look at their site at Marrazon Which was build prior 2005, where they promised to build golf courses, facilities etc, and what all these poor people are left with is a huge development wth no facilities, except a pool that is only open half the year, so they cant rent these properties out or sell them, get him to do his research!!! also the prices in Almeria (as in all Spain) and dropped since they fixed the prices for ACC, its now a case of supply outstripping demand. We got together through the ACC forum website with various people who lived in our area, all intellgent people, some buying more than one property who had all been taken in, as we were, as by the sound of it your
son...
The whole thing is appalling and no one seems to have done anything about it, believe me I have tried to get publicity for everyone who still has money invested, its hard to believe that it was promoted by the whiter than white Claire Sweeney, I even contacted her publicity department to alert them...but no response..they probably think I'm a mad fan!!!!
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Hi irene sorry I did try and post the link to the web site that I mentioned, but admin on the site wouldnt allow me to do it
but just get him to google viva almeria, go to the forum page and then he will find a section called Almanzora Country Club, it should make interesting reading for him
Hope this helps
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Hi will it cost 10,000 to pull out as he thinks to get his money back?thanks irene
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