Panorama Casino & Spa

[gabby]

Just received this fwarning from STC:

Dear Clients/ Partners,

We are writing you in regards of the latest announcement that the following property agencies “Red Hot Homes” and “Diamond Experience” and the connected with them World Legal Service have suffered bankrupt.

We would kindly ask you not to transfer any installments to their bank accounts, as they could not be processed to the developers any more.

We would recommend you to contact immediately your solicitors in order to get legal advice about the future procedure.

We trust, you will give this matter your immediate attention and take the necessary steps to avoid any inconveniences!

If the above-mentioned information does not concern your case, please feel free to delete this message from your mailbox!

Yours faithfully,

STC Building Group Ltd.

Bulgaria

[leon schillemore]

Hello all, just flicked through all this info and am very glad I did. I have also bought in block c and just wondered if anyone had any new info.
I'm pretty new to all this and must admit that so far its not been to plesant an experiance.
I'm going out on the 27th feb to see whats going on but I to have not made the final payment and have no intention of doing so until its fully complete I have also held back with the money for the furniture pack.

All the best leon

[gabby]

Have you been into *** also?

[gabby]

Originally Posted by leon schillemore

Hello all, just flicked through all this info and am very glad I did. I have also bought in block c and just wondered if anyone had any new info.
I'm pretty new to all this and must admit that so far its not been to plesant an experiance.
I'm going out on the 27th feb to see whats going on but I to have not made the final payment and have no intention of doing so until its fully complete I have also held back with the money for the furniture pack.

All the best leon

Hi Leon - you are right it has bene an awful experience really. I have found myself chasing people who are being paid! I have no real info but go into *** - it seems though that we are all really in the dark. Unfortunately I have paid all of the money.

Best wishes,

G

[guybuy1]

Originally Posted by Juliette

Hi, has anyone bought in Panorama Casino & Spa in Bansko? There are delays in completion of blocks A & B & also some of the surrounding areas. Any info please? Thanks a lot

Hi

Has anyone pushed for penalties to be paid? I was only informed by my lawyer (Vladimir Ivanov) on 4 March that the Act 15 had been issued for Block B (and this was only after I had chased him). But he advised that I should not complete as the developer had not yet connected the site to electricity and water and needed more money before it could do so. I have suggested to him that the developer should pay the contractual penalty, which by March had reached the maximum 10% value of the property, and was thus equal to my final instalment. As such I am unwilling to pay any more money. Has anyone else taken this line?

Vladimir simply said that the developer was unwilling to pay penalties, but he gave no contractual reasons for this. I have little confidence in him. Would any of you consider hiring a completely independent lawyer to pro-actively assert our rights and get the penalties paid? If he took action on behalf of a large number of clients we could all split the legal fees.

Guy

[gabby]

Hi Guy - a few of us are considering this - please go into user group on *** website

G

[gabby]

By the way - have same lawyer and feel same way about him as you!

[Juliette]

Hi, Can anyone elso buying in Panorama Casino in Bansko please advise me of their email address so that I can contact you out of the public domain, & also the email addresses of anyone else you have been in contact with? Thanks

[Tim Timovic]

Juliette,
You'll find quite a few Panorama buyers on the************** ******* site and reference to formation of an owners association.

[alisonburns]

Originally Posted by olliesdad

I have loaded some pics on but can't paste the link into this blog for some reason. i'll get back to you on that.

Just had an email back from the lawyer to say that we are within our rights to withhold the final payment until act 16 has been served. I intend to visit again once they say it is finished but will request some up to date pics before I travel this time.

Incidentally, our contract states that we are also purchasing a percentage of the common areas. Surely then, it would need to be fully complete before the final payment is due. I have not heard anything about the mayor stopping all building. He has stopped approving any further plans as he feels the area is becoming overdeveloped. I have no doubt they will try and suggest some administration problems as this will negate a penalty. It would be interesting to see some documentary proof. While I was out in Bansko I spoke to another investor who said it is not unusual for a development to be late.

Hi Ollies Dad

we have also bought apartments in D bock in Panorama ad are refusing to pay our final balance until we see the images of our apartment and also the rooms. WE have been in discussion with the developer as our contract states Act 15 ad 16 needs to be issued by 30/10. Our contract also states if the work is not completed by then we are entitled to our money back.

I asked them for the name of their solicitor and they wouldn't give it to me. I have now discivered that they have Fidentia Group as their solicitor also and Raslita Galeva is their acting solicitor. I am very nervous about paying any money.

I assume we are all in the same boat at present. Do you know anyone who has completed. They are now asking for 90% of the final balance and the remaining 10% on completion.

At present the contract is not worth the paper its written on, not unless you prosecute them

WE are going to consult an independant British Lawyer. Do you know any who specialise in Bulgarian Law in the UK