Danger Ahead
#1
Danger Ahead
Just read this article in El Pias it could be the final twist for CE.
http://elpais.com/elpais/2013/07/22/...83_079937.html
Sorry all!
http://elpais.com/elpais/2013/07/22/...83_079937.html
Sorry all!
Last edited by EsuriJohn; Jul 22nd 2013 at 7:45 pm.
#3
Forum Regular
Joined: Aug 2012
Posts: 165
Re: Danger Ahead
Would the creditors pulling the plug on MF be such a bad thing? Their assets on Esuri would be sold off? Could be a good thing.....
#4
Re: Danger Ahead
What really concerns me is the dire state of the infrastructure we already know that there are many problems with the drainage outside of house boundaries and some of the roads are downright dangerous just look at the exposed manhole covers up by the shop, how long before somebody rips a tyre sidewall has a blow out and is all over the road. The Town Hall have no intention of adopting the sites. The EUC do not really address this problem witness the street lights that have been out for 12 months which we were promised would be fixed in the next eleven days 3 months ago.
I am sure it by judicious payment of various liabilities for EUC fees by MF only enough to cover the large part of the yearly debt that keeps the EUC from bankruptcy. If MF fail the true scale of the EUC debt will be revealed and the each and every owner on CE will be liable for their % of that debt. The yearly accounts presented at the board are a joke and any attempt to question them is brushed aside.
#5
Re: Danger Ahead
Another liability that MF have is the bank guarantees which have been due for call in for several years but no action has resulted in any money appearing. The first million was within a month 6 months ago and that is being supervised by a judge but it does not seem to happen. That may be because if MF have to forfeit €4+ million of bank guarantees their credit worthiness would be destroyed.