Hi Ken

Same paperwork as us - I cannot believe that this information cannot be sent by courier and formally registered - neither can I understand how it can cost so much - perhaps a solicitor can advise? Seems a nice little earner. Is there an alternative - can I take it myself? Flights to La Coruna are reasonable from Heathrow by Clickair!

Carol

Carol

I agree 1750 euros would pay for flights and a week in CE for two, Trouble is my Spanish is as good as my chinese so listening to the preceedings might be a problem, hopefully someone will reply who has a bit more info than ourselves


Ken

the cost is for all the legal representation.if you dont register as a creditor before the dead line you will lose all your deposits.dont take this lightly

betris
I have read on previous posts that we are not creditors, do you know any different?

Ken

Surely a creditor is someone that is owed money, so I don't see how you can be, If anything, you owe them!

Perhaps you are classed as a creditor as they owe you your deposit until you complete.

I believe that if you are a creditor you can register your interest yourself without paying a lawyer silly money but a lawyer will always say different.

This appears to be a worrying developement, particularly for those who have not completed and have substantial deposits with Fadesa. I hope the situation is clarified quickly particulary for those in Carol and Ken's position.

For those who have completed is anyone aware of what the position of the various Communities is regarding community charges owed by Fadesa on properties which have not yet sold/completed? My understanding was that outstanding community charges must be deducted from the sale price before the vendor (Fadesa/adminsitraor/liquidator/etc.,) receives payment. Does this development change the position?

George

Have a look @ the Oracle page 11 Q & A or
www.spanishpropertyinsight.com
mite answer some of your questions
Good luck to all of you
must be a very worrying situation for all concerned

I was a preferential creditor once long ago in the UK, it cost me 5 quid to lodge the paperwork at the Board of Trade and about 8 years to get back 12/6 pence.

Reading between the lines it appears as you have not completed then the Liquidators are taking back the land or buildings and you have to claim your deposits back as a creditor.
I wouldn`t like to say where in the payout chain you are though, liquidators, taxman, national ins, employees, suppliers, etc or how long this will take.
You really need advice from a top lawyer.

Is that the right link Chris ?

When I opened the site the same guy Mark Stucklin's photo appears .
He appears to be the person who's Q&A article is in the Oracle.

Hi Carol and Ken

I'm no expert but I think you need to take legal advice on what to do next, and also where you stand with your bank guarantee. There are lots of super clever people on this forum, but still, this is very specific and legal issue involving Spanish law and perhaps you need to find another solicitor to advise you on the next step, it'll cost you and they might simply say 'pay the 1750' but at least you will be well advised.

I would also recommend that you find out what the 1st lawyer is due to deliver you for the agreed price.. they were supposed to handle the purchase and make sure that your interests were protected.

Also youve received a registered letter so the lawyer is making this very legal and ensuring that you know the next step.. so if you do nothing they are covered.

I think it is certainly worth you calling the lawyer to discuss this charge, and the options you have. They cant send out letters like this and not be prepared to talk about why... however hard they are to get a hold of. If necessary write to them but be sure to send it registered post too.

Has anybody who has 1) not completed and 2) have another lawyer than Pendas, received similar letters from their lawyer? If not then I suggest you contact them to ask them what they are doing for the next step. Pendas may actually be doing the right thing.

If another lawyer is managing this without the extra charge, then they may be the ones to contact for the second opinion.

Just my thoughts on the matter - Im no expert. Just dont miss out on any opportunity to protect yourselves at this stage

Sorry you are so disappointed now with CE.... its understandable

Jon

Rang the solicitor today and he is not available. However, sent a number of questions to a Spanish lawyer who works in the UK to see if I could get better understanding from him. Here are the questions I sent and his answers:

You advised me earlier regarding our position following the administration of Martinsa Fadesa. We met our solicitor during the summer when he told us we were not creditors and it would be fine. We have received this email and attachment today and were not able to speak to the solicitor as the phone was on an answerphone. He assured us previously that the process would be straight forward. We do not know whether there is any other way of registering our interests apart from using a lawyer attending in person. Can you advise please:

1. Can we not register our interests by post?
2. Can we use a UK solicitor such as yourself to act for us - would you need to present yourself in person?
3. Would your company be prepared to take us on as clients and if so what would be the cost?
4. Would our solicitor in Spain be legally obliged to forward all paperwork - we have never seen the proper contract and only have some receipts - we have never seen the bank guarantee but have an email from our solicitor indicating we have a bank guarantee.

This is his response (received within an hour of my sending the email)

1. Yes you can. The documentation can be sent by registered post. The letter has to be written in Spanish. The main disadvantage is that all future correspondence will be maintained in Spanish which will prove complicated if you do not speak the language. Also by not appointing a lawyer in the procedure you will lose the right to vote in the decisions taken. I would not recommend it but is definitely better than not doing anything at all.

2. Yes. In fact, I have got other clients in a similar situation. I am preparing a letter with information on costs. I can send you this letter once it is ready if you wish. I shall have all the information between today and tomorrow.

3. Yes, we would be prepared to take you as a client. I shall be able to send you information on costs in the next 24 hours or so.

4. Yes he should but you will have to pay any outstanding fees for his previous job. Once you have appointed a new lawyer, whether is ourselves or another firm, you will have to write to your solicitor and inform them that you have appointed a new lawyer, settle any outstanding bill (if there is any) and request all the documentation to be returned to you or to us with urgency.

I am glad to hear that you have a bank guarantee because this will protect your investment. Just make sure that this is true and that the document has not expired.

I have read solicitor's letter and I am under the impression that their fees do not cover the attorney required in Galicia. As you probably know, the procedure will take place in A Coruña which is in the North West of Spain. This means that the solicitor will have to appoint someone there to deal with part of the legal work. I would suggest that you get clarification on all the costs involved.

I don't know if this help anyone else but I think we will be changing solicitors- we hope the fees will be reasonable - at least we will have someone who answers our calls. When I get them I will post details of the firm and their costs to anyone who is interested if you pm me. The company concerned is I think a big one with offices in four of the biggest cities in the North of England.

I am glad to hear that you have a bank guarantee because this will protect your investment. Just make sure that this is true and that the document has not expired

In a court case last week a Madrid Judge said that once issued a bank guarantee never expires until the building is legally finished. If I remember where I read it I will post the link.