Fadesa - Withholding Return Of Client Deposit Monies

[camel with three humps]

Please read my posting again. Fadesa is in Liquidation. So that means there is no money to pay out. Photographs or not !!!!

[christinedcampbell]

Originally Posted by camel with three humps

Please read my posting again. Fadesa is in Liquidation. So that means there is no money to pay out. Photographs or not !!!!

Yes I get that !!

Point is , THEY are asking us for MORE money for the moorings. We want to REDUCE this figure in view of the other rubbish.

Makes sense doesn't it?

[camel with three humps]

Yes, it sounds sense to you & me with a Anglo saxon thinking. The contract will not cover all the issues that you raise.

Even, if Fadesa was not in Liquidation you would not have been able to claim from them, as they were a very poorly managed company.

[christinedcampbell]

Originally Posted by camel with three humps

Yes, it sounds sense to you & me with a Anglo saxon thinking. The contract will not cover all the issues that you raise.

Even, if Fadesa was not in Liquidation you would not have been able to claim from them, as they were a very poorly managed company.

Do you think it is the Liquidators requesting the completion monies on the Moorings?

[christinedcampbell]

Originally Posted by christinedcampbell

Do you think it is the Liquidators requesting the completion monies on the Moorings?

I've just checked the paperwork ...letter comes from Cofias Home Maroc, Marina Saidia plus 'Groupe Fadesa Maroc'!

[SallySlann]

I thought ADDOHA now part owned Fadesa Maroc and there was no foreign investment.

[Mr Ri]

Sally. Addoha own 100% of Fadesa Maroc. Rgds David

[SallySlann]

So are they in liquidation or not?

[Mr Ri]

Addoha are not in liquidation.
Fadesa Maroc are not in liquidation (they are owned by Addoha)

Fadesa (the Spanish company) are in liquidation. When Fadesa got into trouble they sold Fadesa Maroc to Addoha.

In my opinion, it is unlikely that there is a contractual linkage between the moorings and the property. Nevertheless, these are unusual times and I would suggest that you should negotiate as hard as you can while you have some leverage.

Rgds

[just-alex]

HI, I am just catching up on the forum after a bout of illness........for what its worth my take on the comments on the forum posting over the last months are as follows>.......
First.....to whom did you pay your money?......the company structure is that SAS Mediterrania who are the holding company for the site at Saidia are named in the initial contracts. They were always responsible to Fadesa Maroc who back in 2006/7 kept a very low profile with no published phone numbers or website. Back then Fadesa in Spain were keeping a tight hold on the purse strings and it was very difficult to establish who was responsible legally. Communication with the companies involved established that each was blaming the other and evading financial responsibility.

secondly.......if SAS Mediterrania and therefore Fadesa Maroc are now responsible since the demise of Fadesa in Spain, and they are wholly owned by Addoha......presumably Addoha are legally now responsible.

However, I recently read a rather worrying article in the Observer which suggests that overseas property companies that have a Royal or Government connections may be impossible to sue as no lawyer would touch the case.......Yet, I cannot believe that the King of Morocco, who is trying to open up and modernise his country, would wish to compound the so far disastrous state of affairs in Saidia by having his legal system held in contempt also!!!!

I too contacted a legal firm in Casablanca with a detailed letter asking for help,listing specific questions but received no answers to my questions, no advice or information on their charges....they simply sent a one line response saying they could 'write a letter'. I repeated my request for assistance in what I should be claiming and what they would charge but received no response.

Interestingly, as we speak the Spanish legal system re overseas investors is now under scrutiny by the EU Commission who are considering taking sanctions against Spain in terms of contributions made to the EU.

Perhaps we should be writing a direct open letter to the KIng of Morocco.?