Fadesa - Withholding Return Of Client Deposit Monies

[simon clark]

I trying to get hold of a lawyer but without sucess do you know of anyone?

Originally Posted by camel with three humps

Sally, by all means go down to their office and kick a almighty stink. Please note that others have or must have done this to Fadesa.

I know that they have done this in Spain. The senior staff does not come out of the office & send a junior to take the abuse of its customers. The junior staff just stands their totally dismissive, soaking in all the abuse. Fadesa is only cooperative until such time as the private contracts are signed.

Besides above, Fadeda is not in a position to pay as they have just renegotiated their credit to service with their banks to pay their interest.

The only way you will get anything out of Fadesa is to sue them.

[redangel7861]

Originally Posted by camel with three humps

London, was never in charge of signing the cheques apart from office expenses etc. I don't know who is in charge. Perhaps Mari has stopped replying as she does not work there. Remember when business is trouble the staff is the first to be on the chopping block.

Mari, still works at the office, I just spoke to her yesterday. I also spoke to the UK sales Director yesterday.

[SallySlann]

And did they have anything positive to say?
Alex arroyo was it?

[redangel7861]

Originally Posted by SallySlann

And did they have anything positive to say?
Alex arroyo was it?

I spoke to him with regards to the re-structuring of the debt. He stated that the debt had been re-structured and it was business as usual.

My questioning was more related to the Atlas Golf Development. I was told that it was ahead of schedule for AP1 apartments and they were looking to finish the build in December 08 ahead of the April 09 schedule.

In my opionion it looks like Adoha have taken over the build process in Morocco after Fadesa got a kick up the arse from the King. This in my opinion is the reason why Atlas Golf is ahead of schedule and they are looking to release AP2 ahead of schedule in a few weeks (although a British developer will be responsible for the build here).

With regrads to Saidia he was more vague and I did'nt press him as I have not purchased in Saidia (recently pulled out of the Athena development because of the problems in Siadia).

He stated that all constructors are having to re-organise their finances due to the credit squeeze, not only Fadesa and that business as a whole was running normaly (but then again he would say that)

Regards
RED

Edit: His name was Daniel,why don't you give him a call and see where you get. Again I would advice that you go down to the London Office as your first port of call, you may get some success

[camel with three humps]

Good to know that Mari still has a job. This is the exact situation that a professional/caring organisation will do. It will reach out and set out its plan/and plan of action and assure the market & and its customers. ( no cutomer no market)

In today's time and as money is tight Fadesa does not have to put in an expensive advert in the papers. They just have to state it on their website.

[camel with three humps]

"Athena development"
This is being promoted by a Spanish company from Seville. I feel it is a better product with a better finish. Sadly they are caught out by Fadesa's fall out on lack of infrastructure etc. If the infrastructure is done " Athena development"

[redangel7861]

Originally Posted by camel with three humps

"Athena development"
This is being promoted by a Spanish company from Seville. I feel it is a better product with a better finish. Sadly they are caught out by Fadesa's fall out on lack of infrastructure etc. If the infrastructure is done " Athena development"

Camel,

Agree, the Athena development was frontline golf and of good quality. But with the problems in Saidia, exchange rate problems MAD\GBP and increase in TVA, it was no longer economically viable, so I decided to purchase in Egypt, Hurghada instead.

[camel with three humps]

UPDATE 1-Martinsa Fadesa debt restructure deal seen -sources | Industries | Financial Services & Real Estate | Reuters

[redangel7861]

Originally Posted by camel with three humps

UPDATE 1-Martinsa Fadesa debt restructure deal seen -sources | Industries | Financial Services & Real Estate | Reuters

Looks like the re-structuring of the debt is going to happen. Good news in that it secures the companies existance, hence people's properties will be completed.

[redangel7861]

More positive news on Adoha, as they purchased 50% of Fadesa-Morocc and own all of Fadesa's assets in Morocco. They are now responsible for construction of Fadesa's developments in Morocco:

Moroccan property firm Addoha 2007 net up 36 pct | Industries | Financial Services & Real Estate | Reuters