off plan purchase at crystal spa aparthotel - eurosilex

[yosserian]

Hi,
thank you for quick respond,
I didn't buy property in Crystal Spa, but Eternity form Eurosilex, they stopped working so, I did a quick reserch and I find you, so tomorrow I am going to contact Eurosilex and ask what is going on, but I am pretty sure that I will need a lawyer. So I wanted to find somebody with silimar problem.
Have a nice evening

 

[rach123]

Hi, My lawyer has been intouch with Eurosliex (via his law firms offices in Bulgaria),not much info at this stage, (until after we get letters from Eurosliex),i'm afraid most of which we know already... Eurosilex are preparing a general notification letter regarding the status of the projects - Eternity complex and Crystal Spa Aparthotel complex. The building process for Crystal Spa Aparthotel has not started yet.
No concrete explanation for the delay was given. The new completion date for Crystal spa - December 2010 was confirmed on the phone. The reasons for the delay will be put in writing in the letter to the clients. My lawyer would assist others should they wish to use him to assist etc., details etc i can send in a private email.

R.

 

[yosserian]

Hi rach123,
thanks for info, i will call them anyway, we will see ....., i will let you know

 

[yosserian]

Construstion of Eternity has started but I think that we are in the same shoes!

 

[yosserian]

Hi rach123
How I can get your email address to talk in priv?

 

[dannyo]

hi all
looking forward to these famous letters from eursilex,my lawyer has being intouch with them with regard to golden valley and the simple answer is they are 75% complete there but guess what they have not a clue when they will have the last 25% complete,they are now in breach of contract and amazingly they think people should understand,if i was an investor in crystal spa I would be organiseing my pension to be sent over there because thats how long its going to take these clowns to get finished, god i love bulgaria where time stands still,while they empty out your wallet , have a nice weekend every one and look forward to seeing the postman. dannyoooooooooooo

 

[bettyb]

Hi,

We have also bought from Eurosilex, however we were direct, in addition we visited the site at Golden Valley. They were very professional and meticulous in showing us the properties they had built and the project we were investing in.

I'm sure that if you had visited the site, offices and met the people you would not be worried. However the construction is delayed and the contract makes provision for this.

You should be ok, if not get over there and have a look.

Ta.
Mike.

Hi Mike,ive been thinking about you and your kinda smug reply to my original posting,have you read all the consequential threads on the subject.I hate this horrible situation but i am curious as to how you feel about the current position eurosilex find themselves in?Are you worried at all like the rest of us!!!

 

[dannyo]

hi all
just to give u another update, a friend of mind also bought in golden valley has spent quite a lot of money up there and he asked his lawyer about getting his money back,her answer was after a lot of laughter they have no money to give back,they can not even finish golden valley,with regard to the guy who bought from bulgarian new build this company has closed its office in varna last month and is not an irish company it is registered in bulgaria but to be fair to the guy who owns it he is available to talk and lastly to mike on what a great company they are eurosilex, buying direct from them or not matters little ,we are all their clients with signed contracts, which with the eariler contracts they are now in breach of.My position is very clear i am going to varna in april have a holiday as well but also sit down with eurosilex and trash out a deal. if anyone would like to join me feel free,but i warn u there will be nothing gentlemanly about my approach with them. dannyo

 

[dannyo]

hi all
i have not heard from anybody are u all shell shocked,Im still waiting on this letterfrom eurosilex , are we at the end of this thread or is it the end of our nerves, any suggestions.
dannyo

 

[rach123]

hi all
i have not heard from anybody are u all shell shocked,Im still waiting on this letterfrom eurosilex , are we at the end of this thread or is it the end of our nerves, any suggestions.
dannyo

Hi all,
According to eurosilex, the letters have been posted...i had an email from them today -
A letter has been sent by post to all the clients of Crystal Spa project.
So lets see if they arrive. If anyone gets one? can the confirm this on the thread?? Thanks.

R.

 

[bettyb]

Hi all,
According to eurosilex, the letters have been posted...i had an email from them today -
A letter has been sent by post to all the clients of Crystal Spa project.
So lets see if they arrive. If anyone gets one? can the confirm this on the thread?? Thanks.

R.

Were in for a long wait then since my experience of the bulgarian post its weeks rather than days for it to arrive.Did they indicate at all what was in these letters?
I think we are all sitting waiting on these letters to see what our next step can be.Did anyone see the watchdog program on bbc1 last night?It was about Bulgarian dreams and the cedar heights apartments.These people have there apts built but developer has changed all lock and keeping them out or at least i think thats happened.They have formed a collective group and are trying to fight it together as a group.One member has set up a forum called offplancollective.com and i think they may be usefull as they might be a few steps ahead or not!One thing this guy did say it was difficult to track down other owners which he did so via the internet.It makes me wonder where all the other owners with eurosilex are??So if any read these threads please get in touch

 

[dannyo]

HI ALL
could they not have emailed us the letter,or maybe there sending us a cheque thats why they are posting it, anyway the more serious part of this, good idea bettyb it is now getting to the time that we need to start talking with eurosilex,I have noticed a lot of views of the threads but not any contributions from anyone else other than the three of us, getting a group together has its pit falls , but more people need to get involved and pressure needs to be applied now to eurosilex,to say that crystal spa will be finished in Dec 2010 seems very optimistic on eurosilex part as they have not completed golden valley which is a smaller project,i think guys i wil go back to my last statement go visit them with my lawyer and start legal proceedings against them.dannyo

 

[bettyb]

HI ALL
could they not have emailed us the letter,or maybe there sending us a cheque thats why they are posting it, anyway the more serious part of this, good idea bettyb it is now getting to the time that we need to start talking with eurosilex,I have noticed a lot of views of the threads but not any contributions from anyone else other than the three of us, getting a group together has its pit falls , but more people need to get involved and pressure needs to be applied now to eurosilex,to say that crystal spa will be finished in Dec 2010 seems very optimistic on eurosilex part as they have not completed golden valley which is a smaller project,i think guys i wil go back to my last statement go visit them with my lawyer and start legal proceedings against them.dannyo

My letter has just arrived by recorded post .It states they cant get the funds to start construction and are offering clients 2 choices.1 Stick with original project ???
2 Sign up to a new modified development with less units so they will have a higher % of sold units making it easier to get funds.They will have to have a reply from every investor before they can proceed.They also say that it would not be wise to take action against them as it would put your personal investment at risk!!replies???

 

[rach123]

My letter has just arrived by recorded post .It states they cant get the funds to start construction and are offering clients 2 choices.1 Stick with original project ???
2 Sign up to a new modified development with less units so they will have a higher % of sold units making it easier to get funds.They will have to have a reply from every investor before they can proceed.They also say that it would not be wise to take action against them as it would put your personal investment at risk!!replies???

Hi, we got letter too, ours says the exact same!!
R

 

[dannyo]

hi bettyb and rach
Interesting your letter,i suppose i will be getting a different letter than you guys got, most lightly saying the same thing,my suggestion to you is get as much information as possible about what they propose with their revised complex ibet they will not take out to many apts but will try cut down on aminities ie pools tennis courts and a driving range,consult a good independent lawyer, before you agree to anything and very importantly seek a price reduction, less facilites less your apt is worth take your time and think this through remember eurosilex will be in a hurry when its to their advantage best of luck. dannyo

 

[rach123]

hi bettyb and rach
Interesting your letter,i suppose i will be getting a different letter than you guys got, most lightly saying the same thing,my suggestion to you is get as much information as possible about what they propose with their revised complex ibet they will not take out to many apts but will try cut down on aminities ie pools tennis courts and a driving range,consult a good independent lawyer, before you agree to anything and very importantly seek a price reduction, less facilites less your apt is worth take your time and think this through remember eurosilex will be in a hurry when its to their advantage best of luck. dannyo

hi,
thanks for your advice...let us know if you get your letter, hopefully soon.
R

 

[hennesb]

hi all,

I've not yet received a letter. Why would they not have funds if they have 40% of our money for the last 2 years. I want my money back at this stage. If we agree to anything new it will probably be 2 years to devise the project and another 2 or 3 years to complete. Our money would have earned a nice little nest egg just sitting in the bank since then. Is that not why we have a contract which they have now broken. We should get our funds back no questions asked. I had hoped to holiday in my place this summer.
B

 

[bettyb]

good luck

hi all,

I've not yet received a letter. Why would they not have funds if they have 40% of our money for the last 2 years. I want my money back at this stage. If we agree to anything new it will probably be 2 years to devise the project and another 2 or 3 years to complete. Our money would have earned a nice little nest egg just sitting in the bank since then. Is that not why we have a contract which they have now broken. We should get our funds back no questions asked. I had hoped to holiday in my place this summer.
B

I wish it was as simple as that but keep us informed as sharing info is valuable to us all.Best to pm any sensitive info as lots of people are watching this thread

 

[dannyo]

hi bettyb
i have an idea how we get the ball rolling with eurosilex, ill pm you laterand we can discuss this it would be helpful if anyone else wants to take part also if you are from other parts of the eu, ithink we should take this disscussion private,but i can promise eurosilex will take notice,

 

[markwoods]

Golden Valley

Hello I am a new member to these threads, I am an investor in the Golden Valley project, I have now had my recorded mail from Eurosilex explaining their financial challenges, it is clear that with the global financial meltdown that Eurosilex have been affected significantly, Unicredit Bulbank have I am told stopped releasing funds, which in turn put a halt last October to the project. Eurosliex have written to me and others to explain their predicament in a quest to gain support from all investors, in summary without the support of the investors agreeing to support Eurosilex it is their position that refinancing the project will not be possible, I am delighted to see other people on these blogs who may well be in the same boat as me as there is some cold comfort in that! I propose that we draw strength from numbers to work as a group to deal with these challenges, it would be foolish to attempt to go this alone! There is strength in numbers as they say.
As this is my first effort to make contact with you all I hope to be able to build a list of names and contact numbers in order that we can get some private discussions in place.
With this in mind I await replies from all those who are keen to tackle this in a positive and professional manner.
Regards Mark Woods

Hello

I understand your concerns and also about using another agent in view of the experience you had. We have a recommended lawyer from the start prior to our purchase and we have a signed contract which will hopefully stand up when it comes down to the wire of getting our money back!! Do you have a signed contract with Eurosilex and/or Blackwater Homes?

According to Eurosilex, we are due to get letters end next week sometime informing us what is going on? As soon as we do, I will be get our lawyer to look into things and report anything useful back however, it takes a little time liaising with his company (parent company) lawyers in Bulgaria but so far he has not let us down. When we were informed of delays our lawyers company liaised with Eurosilex and Eurosilex were not willing to give any comepenstation at that stage until after the original completion date which is sometime in Jun'09. As we have been using our lawyer since Nov 2007, we would be reluctant to use another route now but any info. I can pass on I will certainly do so.
R