Have you reserved at Gran Natal Golf?

[Cam101]

Originally Posted by Dotty

Sounds like being at a funfair in Brighton!

At the risk of contradicting myself just the once. WHAT IS THE POINT OF POSTING THIS AND OTHER COMMENTS LIKE IT DOTTY? You are wasting our time with email alerts! Make it relevant, informative, interesting, inquisitive or even better, a mixture.

[Dotty]

Well actually having read several posts on this thread it unfortunately does not give people a very clear picture and looks like a swamp of mixed info.It maybe an idea to get a good lawyer to act on your behalf that is neutral to the situation that can translate word for word in English.The Brits are quite through with paper work,but but portuguese is very different when translated and interpreted which can confuse people.

[timatthebeach]

there is now a translation of the letter from the lawyers overseeing the administration of GS on their website http://www.administracionconcursalsanchezromero.com/DocAdCon.htm and hit the communicating creditors claims link or http://www.administracionconcursalsanchezromero.com/Communicating%20creditor's%20claims.pdf

[Cam101]

Originally Posted by JMBroad

Lisa spoke to Manzanares who advised her that all legal requirements have been filled by Grupo Sanchez to build Galatea.

Timatthebeach sent me copies of the documentation which he received from Grupo Sanchez. While I'm not a lawyer, I have seen many copies of licenses in Brasil as we don't market anything unless we have copies of all legal documentation on file in our offices as well as a written confirmation by an independent law firm in Brazil confirming that the documentation all checks out.

What Tim sent me this morning was the Registo de Incorporaçao. A developer can only receive this document once all other legal requirements have been approved. According to Brasilian law, only once the developer is in posession of the Registo can they make sales.

While the Registo itself is not a guarantee the development will be built according to the marketing material (that requires a whole different set of checks) it is a very good indication that the development is legally sound.

In my experience dealing with these papers it sure looks real enough but no I haven't personally verified the authenticity. Given that Manzanares are stating that it is legal then I am sure they will have checked its authenticity.

So in answer to your question, yes it is the license that Grupo Sanchez require to prove that they haven't defaulted on their contracts with regards to Galatea. While it is no guarantee that the other three phases will get their licenses, it is a huge step in that direction.

Just wondering if anyone has any more information on licenses? I spoke to the solicitors on Friday and they stated that they did not have everything they require to agree to contracts on Galatea! It sounds like something to do with environmental issues. Reading between the lines, it also sounds like the solicitors are not confident that they will have all the licenses they need in time to prevent clients executing bank guarantees. (no one has or can actually state this so do not take it as fact!) The downside is that it looks like it will cost a further 1580 euros to be in a position where the solicitors can execute the bank guarantees on our behalf and the clock is ticking. It is a gamble!

[wolfgang]

The return /additional expenditure ratio is not very favourable-especially as it will cost more than 1,580 when read thoroughly. Anyone had any better quotes?

[Cam101]

Originally Posted by wolfgang

The return /additional expenditure ratio is not very favourable-especially as it will cost more than 1,580 when read thoroughly. Anyone had any better quotes?

Can you be more specific on why it will cost more than 1580? This quote includes tax also.

[timatthebeach]

these GNG threads been quite for a while anyone got any new info. I was told that the licence for Galatea was not actually finalised ?? I reserved in Marginata but still curious.

[wolfgang]

Originally Posted by Cam101

Can you be more specific on why it will cost more than 1580? This quote includes tax also.

There will be additional notarial and apostile expenditure.