Failed Developments in St Lucia
Oct 10th 2011, 11:56 am
#16
Forum Regular
Joined: Nov 2008
Location: East Sussex
Posts: 75
Re: Failed Developments in St Lucia
pgtips
Trouble is we all already have our own lawyers who don't seem capable of speaking to each other to determine the best way forward and it is impossible trying to contact the Yovels. If we could find out the level of debt and the sum FCIB would accept to take over the site then we could at least make an informed decision as a group of buyers, but nobody seems able to give this to us and that's just so frustrating.
Trouble is we all already have our own lawyers who don't seem capable of speaking to each other to determine the best way forward and it is impossible trying to contact the Yovels. If we could find out the level of debt and the sum FCIB would accept to take over the site then we could at least make an informed decision as a group of buyers, but nobody seems able to give this to us and that's just so frustrating.
Oct 30th 2011, 5:33 am
#17
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Joined: May 2010
Location: Caribbean/Upper West Side/Camden Yd
Posts: 372
Re: Failed Developments in St Lucia
Was this an investment vehicle ? or intension to occupy and move in ? pgtips is right, you have to do a lot of due dilligence. Have you contacted the bank ? They are obligated to give the financial data to involved third-parties; which you'll seem to be one.
In the caribbean, buy a finished, ready to move development. If you think this is bad, go check Antigua !!!
In the caribbean, buy a finished, ready to move development. If you think this is bad, go check Antigua !!!
Nov 3rd 2011, 10:07 am
#18
Forum Regular
Joined: Nov 2008
Location: East Sussex
Posts: 75
Re: Failed Developments in St Lucia
Anuny
Our intention was to rent out our villa for a few years to increase our pension pot then spend a few months every year when retired to escape the British winter. Unfortunately we relied on our solicitor to carry out proper due diligence and looking back it is quite clear that he failed to do this properly, and as he has since retired, and died, we are informed, there's not much we can now do about it.
I have written to FCIB twice now and have had no response so they obviously have no desire to give me any information.
I understand that there are various court actions due to take place regarding this but these keep getting postponed and rearranged and the legal system allows this to happen so I will probably be retired, then dead before any of these can be heard.
Our intention was to rent out our villa for a few years to increase our pension pot then spend a few months every year when retired to escape the British winter. Unfortunately we relied on our solicitor to carry out proper due diligence and looking back it is quite clear that he failed to do this properly, and as he has since retired, and died, we are informed, there's not much we can now do about it.
I have written to FCIB twice now and have had no response so they obviously have no desire to give me any information.
I understand that there are various court actions due to take place regarding this but these keep getting postponed and rearranged and the legal system allows this to happen so I will probably be retired, then dead before any of these can be heard.
Jun 4th 2012, 9:07 pm
#19
Just Joined
Joined: Jun 2012
Posts: 1
Re: Failed Developments in St Lucia
Any fellow investors out there in St Lucia projects or Le Paradis in particular, please contact me
Jan 16th 2013, 1:49 pm
#20
Just Joined
Joined: Jan 2013
Location: U.K
Posts: 4
Re: Failed Developments in St Lucia
In 2006 we decided it was time to make some life changes and bought off plan a villa in St Lucia (we were paying in stages and had paid nearly 50% of the purchase price)
The development stalled in 2009 and in the last couple of months we have been informed that the Bank is putting the company that owns the site into administration as there is a mortgage in place.
The legal system on the island is lothargic and getting answers is almost as bad as getting blodd from a stone.
Letters and emails to Ministers and other government officials go un answered, it appear that although the Island needs investment and tourism they arn't quite so keen to help when things go wrong.
I am certainly not looking for charity but just suggestions on how we can get the development financed then finished (about 150 villas) so everyone wins!
i would welcome any feedback anyone may have.
thanks
The development stalled in 2009 and in the last couple of months we have been informed that the Bank is putting the company that owns the site into administration as there is a mortgage in place.
The legal system on the island is lothargic and getting answers is almost as bad as getting blodd from a stone.
Letters and emails to Ministers and other government officials go un answered, it appear that although the Island needs investment and tourism they arn't quite so keen to help when things go wrong.
I am certainly not looking for charity but just suggestions on how we can get the development financed then finished (about 150 villas) so everyone wins!
i would welcome any feedback anyone may have.
thanks
Dear Russett,
I have been informed that this project will carry on as originally planned. There has been new developments in conjunction with the property development in St.Lucia - Bayview. A new lease of life has been injected into this venture by very prominent entrepreneur.
Please Contact me asap...
Jan 16th 2013, 1:58 pm
#21
Just Joined
Joined: Jan 2013
Location: U.K
Posts: 4
Re: Failed Developments in St Lucia
I think the reason Russett mentioned contacting various minsiters etc was that the Prime Minister mentioned the Bayview development specifically in his address of 2010 and quoted that the developer was to spend some $4 million in that year. The Minister for Tourism has also stated that the Government would do everything it could to assist in the provision of rooms for tourists but has ignored communications from some buyers.
The PM and Minister for Tourism must have based their comments on information from someone and it would be helpful if they could exercise a bit of clout on our behalf and get those responsible for this mess to be upfront and tell us what went wrong and why our offers of help were ignored. The developer just seems to have disappeared so if anyone knows how to contact Moshe or Ephrat Yovel, this information would be welcomed by many and I will be on island from 16th. October for two weeks if any of these would like to meet face to face for a "discussion".
I just wonder how much money has passed via our stage payments from Sunset Village to Island Construction and how much of this actually relates to the amount of work done.
I have written twice to FCIB to try to find the level of debt so we, as buyers, could at least have a chance to see if we would be able to buy the debt from them and therefore control the site. After that we could then try to finance the remaining build ourselves but at least we would own our land if nothing else. I have had no response.
I ahve also contacted the receiver, who did reply, but as he was appointed only at the beginning of September was not in any position to give me any financial information.
And so we wait and still know very little, but it would be good to have reliable and up to date information on how much is owed and if we could do a deal with the bank and prevent the developer getting the site back as a phoenix company then we will have achieved something.
The PM and Minister for Tourism must have based their comments on information from someone and it would be helpful if they could exercise a bit of clout on our behalf and get those responsible for this mess to be upfront and tell us what went wrong and why our offers of help were ignored. The developer just seems to have disappeared so if anyone knows how to contact Moshe or Ephrat Yovel, this information would be welcomed by many and I will be on island from 16th. October for two weeks if any of these would like to meet face to face for a "discussion".
I just wonder how much money has passed via our stage payments from Sunset Village to Island Construction and how much of this actually relates to the amount of work done.
I have written twice to FCIB to try to find the level of debt so we, as buyers, could at least have a chance to see if we would be able to buy the debt from them and therefore control the site. After that we could then try to finance the remaining build ourselves but at least we would own our land if nothing else. I have had no response.
I ahve also contacted the receiver, who did reply, but as he was appointed only at the beginning of September was not in any position to give me any financial information.
And so we wait and still know very little, but it would be good to have reliable and up to date information on how much is owed and if we could do a deal with the bank and prevent the developer getting the site back as a phoenix company then we will have achieved something.
Dear Scottylad,
I have been informed that this project will carry on as originally planned. There has been new developments in conjunction with the property development in St.Lucia - Bayview. A new lease of life has been injected into this venture by a very prominent entrepreneur.
Please Contact me asap...
Jan 16th 2013, 2:06 pm
#22
Just Joined
Joined: Jan 2013
Location: U.K
Posts: 4
Re: Failed Developments in St Lucia
In 2006 we decided it was time to make some life changes and bought off plan a villa in St Lucia (we were paying in stages and had paid nearly 50% of the purchase price)
The development stalled in 2009 and in the last couple of months we have been informed that the Bank is putting the company that owns the site into administration as there is a mortgage in place.
The legal system on the island is lothargic and getting answers is almost as bad as getting blodd from a stone.
Letters and emails to Ministers and other government officials go un answered, it appear that although the Island needs investment and tourism they arn't quite so keen to help when things go wrong.
I am certainly not looking for charity but just suggestions on how we can get the development financed then finished (about 150 villas) so everyone wins!
i would welcome any feedback anyone may have.
thanks
The development stalled in 2009 and in the last couple of months we have been informed that the Bank is putting the company that owns the site into administration as there is a mortgage in place.
The legal system on the island is lothargic and getting answers is almost as bad as getting blodd from a stone.
Letters and emails to Ministers and other government officials go un answered, it appear that although the Island needs investment and tourism they arn't quite so keen to help when things go wrong.
I am certainly not looking for charity but just suggestions on how we can get the development financed then finished (about 150 villas) so everyone wins!
i would welcome any feedback anyone may have.
thanks
Dear Russett,
I have been informed that this project will carry on as originally planned. There has been new developments in conjunction with the property development in St.Lucia - Bayview. A new lease of life has been injected into this venture by a very prominent entrepreneur.
Please Contact me asap...
Jan 16th 2013, 4:33 pm
#23
...
Joined: Sep 2004
Posts: 1,165
Re: Failed Developments in St Lucia
Lets hope it is all sorted out eventually. Any details you can share here ?
Jan 18th 2013, 10:41 am
#24
Forum Regular
Joined: Nov 2008
Location: East Sussex
Posts: 75
Re: Failed Developments in St Lucia
I really do not think that there is any new developer ready to carry on with this development and I believe that this is a scam as this is in the hands of the receiver and nothing can happen until after the court case scheduled for early February.
I imagine if we make contact with this person we will be asked for a small "fee" up front before we can be given details or we will be asked to pay a "deposit" to secure our interests or some other way of conning us out of even more money.
I have also received an email through the owners site from a Marie Williams stating that a new developer who is a prominent entrepreneur has taken over the Bayview development. This is just not true . If anyone would like to make contact with [email protected] or [email protected] or Carlos GB - How? then please feel free to do so but be prepared to be asked for some money.
I don't think so.
I imagine if we make contact with this person we will be asked for a small "fee" up front before we can be given details or we will be asked to pay a "deposit" to secure our interests or some other way of conning us out of even more money.
I have also received an email through the owners site from a Marie Williams stating that a new developer who is a prominent entrepreneur has taken over the Bayview development. This is just not true . If anyone would like to make contact with [email protected] or [email protected] or Carlos GB - How? then please feel free to do so but be prepared to be asked for some money.
I don't think so.
Jan 18th 2013, 10:52 am
#25
BE Forum Addict
Joined: Jan 2011
Location: Tunbridge Wells KENT
Posts: 2,914
Re: Failed Developments in St Lucia
I really do not think that there is any new developer ready to carry on with this development and I believe that this is a scam as this is in the hands of the receiver and nothing can happen until after the court case scheduled for early February.
I imagine if we make contact with this person we will be asked for a small "fee" up front before we can be given details or we will be asked to pay a "deposit" to secure our interests or some other way of conning us out of even more money.
I have also received an email through the owners site from a Marie Williams stating that a new developer who is a prominent entrepreneur has taken over the Bayview development. This is just not true . If anyone would like to make contact with [email protected] or [email protected] or Carlos GB - How? then please feel free to do so but be prepared to be asked for some money.
I don't think so.
I imagine if we make contact with this person we will be asked for a small "fee" up front before we can be given details or we will be asked to pay a "deposit" to secure our interests or some other way of conning us out of even more money.
I have also received an email through the owners site from a Marie Williams stating that a new developer who is a prominent entrepreneur has taken over the Bayview development. This is just not true . If anyone would like to make contact with [email protected] or [email protected] or Carlos GB - How? then please feel free to do so but be prepared to be asked for some money.
I don't think so.
There are other properties in the hands of the banks in St Lucia and word gets out that a deal has been done only to discover that nothing has actually happened and "discussions" just drag on for, sometimes, years.
Jan 18th 2013, 11:25 am
#26
Forum Regular
Joined: Nov 2008
Location: East Sussex
Posts: 75
Re: Failed Developments in St Lucia
We had been informed by the receiver a while ago that a buyer had been found but there is some doubt as to the legality of this as normal procedure in notifying creditors has not been followed, and the price being paid seems to be quite a bit on the low side. This is why there is a court case pending and nothing can happen until the legal arguments have taken place.
Feb 2nd 2013, 9:16 pm
#27
Just Joined
Joined: Feb 2013
Location: Toronto
Posts: 4
Re: Failed Developments in St Lucia
In 2006 we decided it was time to make some life changes and bought off plan a villa in St Lucia (we were paying in stages and had paid nearly 50% of the purchase price)
The development stalled in 2009 and in the last couple of months we have been informed that the Bank is putting the company that owns the site into administration as there is a mortgage in place.
The legal system on the island is lothargic and getting answers is almost as bad as getting blodd from a stone.
Letters and emails to Ministers and other government officials go un answered, it appear that although the Island needs investment and tourism they arn't quite so keen to help when things go wrong.
I am certainly not looking for charity but just suggestions on how we can get the development financed then finished (about 150 villas) so everyone wins!
i would welcome any feedback anyone may have.
thanks
The development stalled in 2009 and in the last couple of months we have been informed that the Bank is putting the company that owns the site into administration as there is a mortgage in place.
The legal system on the island is lothargic and getting answers is almost as bad as getting blodd from a stone.
Letters and emails to Ministers and other government officials go un answered, it appear that although the Island needs investment and tourism they arn't quite so keen to help when things go wrong.
I am certainly not looking for charity but just suggestions on how we can get the development financed then finished (about 150 villas) so everyone wins!
i would welcome any feedback anyone may have.
thanks
Feb 2nd 2013, 9:22 pm
#28
Just Joined
Joined: Feb 2013
Location: Toronto
Posts: 4
Re: Failed Developments in St Lucia
I am also an buyer in Le Paradis and want to get other buyer from it together to see what we can do . I asked Kierron for the list and he has ignored me . I asked him to organize the owners group to see ifwe wanted to try and get phase 1 open ,and got no reply . As we all have aprox 2/3 of the unit cost in i think we need to do something other that wait for him to declare Bankruptcy .email me back if your interested
Dec 27th 2013, 12:12 pm
#29
Just Joined
Joined: Feb 2013
Location: Toronto
Posts: 4
Re: Failed Developments in St Lucia
Has anyone heard anything from Keiron Dolby DCG in the last 8 months or so , or is the project completely dead and the Cash is totally gone with it , I see there is a receiver who is it and can we contact him
Feb 5th 2014, 1:51 pm
#30
Just Joined
Joined: Feb 2014
Posts: 2
Re: Failed Developments in St Lucia
Is there any news on the Les Paradis project? We are now writing 2014, soon this builidngs have to come donw to set up new ones, if nothing happening.