Marsa Alam

[samui13]

Hi Chris

what I will do, is when the due diligence is issued, is email zeiad with a list of our "group's emails". I will also email him the list of questions/amendments we put on this forum and also ask him for any further input he feels necessary.

I will ask him for immediately acknowledgement of receipt/confirmation that he has received everyone's contracts and confirmation that he will be in a position to report back to us within a week (since we only have two weeks to pay) - although I am going to delay payment until we get our arabic contract too.

I will then chase him every day until his replies

I know he has been really busy lately but I hope he hasnt bitten off more than he can chew!!

Lou

[optom39]

Hi All, We have just received a reply regarding the contract being in arabic. It says that the contract will be amended so that it is under Dutch law. Has anyone else been told this as I was under the impression that IPI were going to have an arabic version drawn up??

[samui13]

I have been told I am getting an arabic contract but that this will take time. I wasnt sure if they were doing this for everyone or individuals who requested it. I did tell IPI I was going to pull out without an arabic contract since I saw it as a necessity.

Not sure how many others were too worried about this but it was a concern of mine.

If you are unhappy with the present sitution, speak to Sue at IPI she is really very helpful.

Lou

[kia11]

Hi all; has anyone have any news of DD?
By the way I still not be able to get in touch with Zeiad...

[kc67]

Originally Posted by samui13

I have been told I am getting an arabic contract but that this will take time. I wasnt sure if they were doing this for everyone or individuals who requested it. I did tell IPI I was going to pull out without an arabic contract since I saw it as a necessity.

Not sure how many others were too worried about this but it was a concern of mine.

If you are unhappy with the present sitution, speak to Sue at IPI she is really very helpful.

Lou

Hi, I was also told by Sue that I will be getting an Arabic contract, but it may take a little time to prepare it. I won't be happy to proceed without it.
Kia, Zeiad has just emailed me so try him again now.

Karen.

[optom39]

Hi all, received an email yesterday from Zeiad which was forwarded from IPI stating that they will not deal with him. What does this mean exactly?! Zeiad didn't seem to be worried.

[kc67]

Hi, they would not deal with him as they did not know who he was acting on behalf of. He has now supplied them with that information and hopefully things will now be different, although I haven't heard any more. Karen.

Originally Posted by optom39

Hi all, received an email yesterday from Zeiad which was forwarded from IPI stating that they will not deal with him. What does this mean exactly?! Zeiad didn't seem to be worried.

[Riccal]

Originally Posted by optom39

Hi all, received an email yesterday from Zeiad which was forwarded from IPI stating that they will not deal with him. What does this mean exactly?! Zeiad didn't seem to be worried.

Astonishing. I can see why they may think that logically as people are dealing with a Dutch company and the agreement is between client and the company that an Arabic contract is not required. Sadly the asset involved here, real estate, is resident in Egypt. Any dispute regarding this asset will have to be dealt with in Egypt and both parties will find themselves with a contract that doesnt apply in the local jurisdiction. How do they think that Dutch legislation will be able to enforce legal decisions in a foreign environment.

Refusing to deal with a clients independently appointed lawyer is sheer madness and arrogance.

Until these guys get to grips with the reality of building in a country outside their own I would avoid them like the plague. Who is giving them legal advise for gods sake??

Rick

[samui13]

They are getting their advice from Anthony Seddons in the UK - governed by the UK Law Society!!!!!!!!!!!! Shocking.

They have promised me an arabic contract because I said would not proceed with out it and told them I would pull out last week.

What I think the problem here is, they have an appointed solicitor (seddons) who they recommended us to use (WHICH THEY WOULD BECAUSE ITS THEIR LAWYER!!!!) so basically I think what they are saying is, if we do not use their solicitor, all the information has to go through us (the individual) and we then pass to our lawyer who then passes back to us, and then we go back to IPI!!! I suspect they try and make it difficult so that you use Seddons (who are their lawyer (with THEIR interests at heart) and charge us £1000 for the priviledge - no thank you.

Lou

[Riccal]

Originally Posted by samui13

They are getting their advice from Anthony Seddons in the UK - governed by the UK Law Society!!!!!!!!!!!! Shocking.

They have promised me an arabic contract because I said would not proceed with out it and told them I would pull out last week.

What I think the problem here is, they have an appointed solicitor (seddons) who they recommended us to use (WHICH THEY WOULD BECAUSE ITS THEIR LAWYER!!!!) so basically I think what they are saying is, if we do not use their solicitor, all the information has to go through us (the individual) and we then pass to our lawyer who then passes back to us, and then we go back to IPI!!! I suspect they try and make it difficult so that you use Seddons (who are their lawyer (with THEIR interests at heart) and charge us £1000 for the priviledge - no thank you.

Lou

Hi Lou

As a PR exercise they aint making any friends. Stoopid really cos the development sounds nice and life is complicated enough in Egypt. I cant believe that AS (who have an Egyptian lawyer on staff as I believe) would allow a Private Purchase Contract not in Arabic.

Perhaps we have all, who have all been advised that the only legal agreement to secure ownership of a real estate asset must be in Arabic, have been badly advised.

Just to play devils advocate - as the agreement doesnt actually deal with an asset (cos it aint built yet) perhaps it is sufficient to have the contract in English/Dutch/Spanish whatever as the only legal issue at stake is that of the agreement between 2 parties and if they fail in their obligations then recourse is taken outside of Egypt.

Its funny how when you sit and type this stuff, other stuff occurs to you. Reading back on this post I seem to have given logical reasons for either situation.

Ah well ...

Anybody legal out there who can comment finally on this'

Rick