Superior Worldwide

[grousey]

Originally Posted by sward5777

spoke with Kevin yesterday - his advice is to sue for the return of my deposit and hope Superior do not file for bankruptcy in the meantime. Superiors policy is now never to return deposits but always to wait for a court judgement. With a judgement in place then if Superior file for bankruptcy you become a secured creditor - and although it will take time should get the deposit back.

was very impressed and will follow his advice, stated that costs will be in the range of £2,000 to £3,000.

Being a secured creditor doesn't mean much if there is no cash left in the business-which will surely be the case were Superior to go bust...

[angel888]

My lawyer Michael Pugh in Florida has a class action case going through, I been told 20+ plaintiffs so far against oakmont. He tells me that it does not matter if superior goes bankrupt as he is making directors solely responsible as well as attaching the other names the company operates under ie. superior real estate etc. He can also apply for state recovery if worst comes to the worst.

Hes email mpugh@walterslevine.com. Its best to speak to him first by phone: 001 941 364 8787.

[Ali Weir]

I am a new member, it was only by luck that I found the forum but from what I have read I'm glad I have found you. I have the same problem by the sound of things. I paid a deposit on a plot on oakmont in june 05, as building appeared to be a problem I cancelled in july 07, since then I have been unable to get my deposit returned. I had been dealing with a greg christner but can not get hold of him now. From the information that I have now seen on the forum I shall contact the solicitors acting. Ali.

[angel888]

Hi Ali,

Its probably best that you left it until now to take legal action, as case is very strong and it will cost you less as more people involved. Fighting superior group in large no.s is therefore more beneficial for you.

[Ali Weir]

Thanks angel I will contact both the us attorney named and the one from bristol and have a chat to see which way to go next. Ali

[richard8553]

Originally Posted by shytalk

hi,* we are also suffering at the hands of superior at the moment, in september 2005 we placed a deposit on a townhouse in Regal Lakes, we were offered the chance last year to move our investment to oakmont,* but decided against it,* we signed to come* out of contract to get our deposits back this month,* but have been told now they are not going to return our monies.* We would love to join together with other people in the same situation to help each other. .* would like people in the same situation to contact me.* Thanks

Today we have just heard that oakmont buyers are being told to buy regal oaks plots or lose your deposits.* As Tousa has just filed for bancruptcy.* Can anybody advise if they have any more pertinent news

[angel888]

Hi Richard,

Superior are wrong to say that to you. The only way you will get money back is if you take legal action.

[sheilat]

Hi All,
Have just joined the forum in the hope of making contact with others who have had the misfortune to buy at Oakmont. We bought back in 2004, paid 10% deposit and have had nothing but problems ever since. Today we received the final nail the coffin newsletter from Superior basically saying we were unlikely to get our deposit back and encouraging us to buy at Regal Oaks instead (as if)!
A few thoughts:

I think its useful that we should all stick together but not as Superior and its lawyers suggest i.e. bailing out their Regal Oaks development.

Although some of us have recent contracts with Tousa, we orginally paid 10% to Superior House Investments. The contract did not allow the purchaser to choose to waive the option of an escrow account, since this option had already been selected by Superior in the contract documents contrary to State Law section 501.1375, Florida.

In their latest email Superior Investment state they are not bankrupt i.e. they have funds.

Finally the development site is owned by Superior (paid for with our deposits) not by Tousa. Could it not be resold?

Regards,
Graeme and Sheila

[lostforwords]

Originally Posted by sheilat

Hi All,

Finally the development site is owned by Superior (paid for with our deposits) not by Tousa. Could it not be resold?

Regards,
Graeme and Sheila

I hope that nobody is under the impression that Superior own the land at Oakmont.

They do own a small part which will be the clubhouse etc. but this can be bought back by the developer at any time now that the agreement between Tousa and Superior has failed.

[Whitesaidfred]

Hi All, a sorry state of affairs with superior. I signed for a house at regal oaks in 2005 but have been told that I have to transfer my deposit to another house that has already been built.

As I see it we have 2 options 1) try to get the deposit back via the courts. 2) Switch it to a house we didn’t want in the 1st place.

Pros for option 1 are that if it comes off we get our deposit back. Cons are that it will be costly to go via a lawyer even if we club together. It will take a long time, a year to get to court and then one or two more to get the cash id there is any left.

Pros for option 2 are, if it comes off we end up with a house albeit not one we wanted. In the long term we may even make a profit. The location for rental potential is good near old town. Cons Not what we wanted, may not come off and do we trust superior.

Difficult decisions to be made