Jon-Bxl

Absolutely, you know the course, you've maintained it and know how to make it even better, with the right funding.

I know you will present your excellent qualifications and experience to any new owner, and I hope the golfers will support your application.

¡Buena suerte... bonne chance...

Jon

AndyS

guesswork

This is the text from an email I have just received from Chris the pro at Costa Esuri


Tenga en cuenta que los empresas propietarias de Costa Esuri Golf son:

TR2 S.A. y LAMPS S.A.

Un saludo.
-------------

Hi.

Please note that the companies that own Costa Esuri Golf are:

TR2 S.A. and LAMPS S.A.


As to Who these companies are and have they bought or just maintaining the course you have to take the information at face value.

Whether they have bought anything else is up for discussion

Jon-Bxl

Hmmm interesting. Haven't found much on them on the net, except tr2 seems to be a Swiss co. Maybe they will work with a 'golf promoter' to help run the club. Hope its not some sort of asset stripping thing from a MF creditor

Jon

MikeJ

Although the GC only has any real asset value as a Going Concern GC and not much as a big field in Andalucía so an asset stripper would try and get the most by selling it as a going concern, so not necessarily bad news.

Jon-Bxl

I'm keeping a positive attitude about all this with hopefully a summer timescale for all to be known... and the various rumours to be confirmed or denied!

The best news would be confirming that the Hotel is sold too... and even the CC. But need to temper enthusiasm as well, after years of being let down. Im glad that there is a tiny amount of maintenance being done, although I heard the course is already looking a bit more 'scrappy'....

Jon

guesswork

I suppose this could be them
http://en.datocapital.com/LAMPS-SA.html

Guess who else is based in La Coruna?

MikeJ

Sir John Moore?

"We buried him darkly at dead of night,
The sods with our bayonets turning,
By the struggling moonbeam's misty light
And the lanthorn dimly burning."
[Charles Wolfe. 1791–1823]

But I see MF were there even then

EsuriJohn

I was reluctant to put a damper on everyone's hopes but back in 2005 when we bought our plot I did the conveyance at the Notary myself. This meant a lot of late night study of all the documents. What I discovered in the Escritura was that Fadesa (as then was) appeared not to be selling the plot to me but two other companies not apparently related to Fadesa. Surprise surprise when at the Notario on the other side of the table was Pualo and a pretty young lawyer from Fadesa's Sevilla office no one from theses shadowy companies. Although it is long since past I am sure Lamps SA was one and the other was TR2 SA. I thought at the time it was a tax dodge I had seen similar things in UK where "developers" are the name at the front of the site such as "Barrett" but they have separate companies for everything and the land is owned by yet another party. It protects them if things go belly up and they salvage what they can from the non-involved parties.

Seeing that one is registered in Switzerland confirms my thoughts on Tax Avoidence but now I wonder if they are linked to the Barcenas trial and the allegations that Rajoy received payments from Swiss funds provided to Barcenas in Swiss bank accounts by "big" Spanish developers!

Jon-Bxl

Not so good news... when I saw guessworks post on La Coruna.... I sniffed a possible rat... shell companies etc. And experience of MF methods.

However this still doesn't mean that there AREN'T confidential negotiations going on to sell the complex - from these 2 companies - to potentially a new company. Lets hope so

Jon

jamesf

Good job i'm not a golf fan eh?

I've said it before but La Manga was on it's knees until Hyatt knocked down and built a new hotel. So who know's?

I still love Esuri, even though it's the worst "financial" investment i've made.

It still exists, it's still an asset - and someone should pick it up (when the price is right) until then for me, it's enjoying the place as it is - quiet and pretty much sunny every time I visit.

Anyhow, got my fingers crossed for the future :-)

jackytoo

One thing Esuri does have...optimists, especially Jon

jamesf

Too true and long may it continue.

Personally if Esuri stays as it is i'd be happy. If it improves i'd be happier.

Maybe I should try #100happydays :-)

Jon-Bxl

I used to be indecisive .... but now, I'm not so sure!

AliceB

TRA-2 SA is a "Property Development" company based in Seville.
There is also a company called TR2 who are an urban waste company.
LAMPS SA is a "Real Estate" company based in La Coruna; Martinsa-Fadesa were registered as the sole administrator on 1.6.2011.
From the web :-
"Vinculaciones (translates : 'link-up' / 'tie-up') de LAMPS, SA
MARTINSA-FADESA, SA
Relación: Administrador Único" (translate: Relationship - 'sole administrator'
This information is readily available on the web….

The (text from Chris) just says “owners”, no mention of “new” hence, it stands to reason - there is no “new owner” just the original owner - MARTINSA-FADESA.

The Spanish news does talk about Martinsa-Fadesa; having missed their payments to debtors (as stipulated by the bankruptcy court) at the end of last year - rather than being called in for breach of contract they went back to the court to change the payment plan which now allows them to “miss on two payments before they are in breach” of their ten year court appointed payment plan.
As if it wasn’t already common knowledge; it appears Martinsa-Fadesa have the Spanish court system entirely sewn up in their favour.
This news was written together with some details about “negotiations to offset assets against their debts”… so who knows, maybe beneath the rumours and Chinese whispers, there may be movement in a favourable direction.
But don’t expect anything to happen over night; as is the norm in Spain, it is bound to take a very long time to come to fruition, if it does.
But in the meantime, maybe people could stop speculating about fantasy hotels and so on… is it not possible to simply wait for some real news and maybe check out some actual facts before jumping on a roller coaster ride of conclusions.