Re: COSTA ESURI - AYAMONTE
 

Your leccy will be fine.

Re: COSTA ESURI - AYAMONTE
 

What does this recent news mean to those of us who have not completed if Fadesa goes into administration? Are our deposits secure? Lack of electricity is not the only reason for non completion however.

Re: COSTA ESURI - AYAMONTE
 

Reading other sites concerned with the CDL where this has already happened it does not look good you join the queue of unsecured creditors and it is then difficult. Do a search on Maria De Castro a lawyer who has posted on the problem and advised people in this bind.

Re: COSTA ESURI - AYAMONTE
 

we have lecci troubles a well.we can only cook at night and watch tv at night.as we are conected to the street lights.I cant complain . its free. just like back in liverpool

Re: COSTA ESURI - AYAMONTE
 

Where are you? I know our street lights are connected with no houses in the whole street except for ours so we could do the same without blowing a fuse!

Re: COSTA ESURI - AYAMONTE
 

TOXTETH (its a long lead!!!!!)

Re: COSTA ESURI - AYAMONTE
 

Thanks John for the depressing information. Can you explain to me what the 'bank guarantee' is that others have spoken about - or is it that administration changes the rules? By the way found the website for the lawyer but could not find anything specific to this situation. Is it to be found here on our forum/thread?

Thanks

Carol

Re: COSTA ESURI - AYAMONTE
 

Hi
I have just read an interesting and disturbing letter in the financial section of the Mail on Sunday.
It seems that the London office of Fadesa could be struck off by companies house and the Mail have been unable to get Fadesa to respond to any of their approaches regarding a major breach of contract with a purchaser. It is no wonder that mere purchasers cannot get any answers when the power of the British press get nowhere.
I think the comments about fadesa going tits up seem prophetic.
Cheers
Laslo

Re: COSTA ESURI - AYAMONTE
 

No she posts on two other fora Eye on Spain and Spanish property Insight. The info you want is on the first and there is also a lot on Bank Guarantees. I think you would be in a strong position with that if you have one.

Our London Solicitor noticed that we did not and had a side letter that they would produce it within three months but I never saw it. Also yours is well beyond completion date which can not according to Law be before the council issue the Licence to occupy so the BG would have to be extended. It is all very complicated and a good solicitor acting only in your interests is paramount in this situation.

I do not know who is acting for you but I would give them a wake up call on Monday and find out your position.

Of course it has not and may not happen and lets hope it does not because the complications for everybody would be horrendous.

Just as a case in point all the infrastructure for the whole of CE has been put in by Fadesa. Eventually the council will take it over but just before they do they will inspect it to make sure it complies in every way so as not to be a burden on the rest o the tax payers of Ayamonte. We all know that there are problems with roads and sewers not massive but there non the less these would have to be put right before "adoption" if Fadesa are not there who does it and who pays?

Re: COSTA ESURI - AYAMONTE
 

Shocked at the recent news. Will Fernando Martin be able to pull a rabbit out of the hat for a second time....magic man or *** man?

I think we are at a cross roads. Can MF in its current form survive?

One key factor is the value of MF's assets compared to its debts. I have seen mixed figures on this reported on the net. However, the banks back in May would surely not have lent on assets valued at less than the loan.

The banks cannot have expected MF to have defaulted a second time.....cash flow is with out doubt the problem. But without adequate sales revenue how can it continue to survive?

If MF manages to get the loan it lives to fight another day. On balance i think the finance will be found. The banks are in too deep for it not too. But I suspect that a condition of any further financing will be a fire sale and restructuring of the company.....surely the banks must have lost all faith in MF's management team (join the club).

If MF does go into vol admin then I would expect that we will see a slow down on work at CE....I would also see the banks stepping in.

I supose it is in all the CE residents interests that MF does survive. If it does not then some will possibly loose more than others. Some may loose deposits if they are not adequately guaranteed. As for those on Rago 1 we have no elctricity and sub-standard works. Who will continue to provide diesel? And the poor external works we are lumbered with..who will rectify?

Also, on Rago 1 who will pay for the upkeep and provide the community charges from the balance of the unsold apartments?

I think the current situation will force a change. Things may be uncertain for a while it may cost for a while..but any change can only be better.

Re: COSTA ESURI - AYAMONTE
 

And you lot accuse us of being doom and gloom mongerers!!!!!

You WILL be fine. What happens to Fadesa from here on will not affect directly what you already have. Any Fadesa collapse - whilst arguably not too far off -need not affect Costa Esuri. A lot of your questions raised above have absolutely NOTHING to do with any looming Fadesa problem. These are typical problems found - and solved - on any build.

About the community charge - there is a fee to pay. If that is between 100 then great, if it is between 50 then tough. Live with it - others have.

Re: COSTA ESURI - AYAMONTE
 

Ah yes the stress free spanish life.

Re: COSTA ESURI - AYAMONTE
 

The only stress I get is when NOT dealing with the Spanish :eek:

Re: COSTA ESURI - AYAMONTE
 

Hi Jon - good to see you the other night - hope you and your good wife are enjoying yourselves.

This is a regular haunt of ours - the Tapas is excellent and the staff are very friendly - Aldo and Miguel.
:)

Re: COSTA ESURI - AYAMONTE
 

No worrys, Fadesa will use always ADA management to protect them and to charge private owners Fadesa fees.