Barrakah Group

[sasherwani2]

Anyone has any idea about this group?
My friend has a Payback deal with these guys. Does anyone else know if these guys actually pay you back on maturity? Also what is the legal procedure if the developer doesnt pay you back on a payback MoU.

 

[djaan]

Anyone has any idea about this group?
My friend has a Payback deal with these guys. Does anyone else know if these guys actually pay you back on maturity? Also what is the legal procedure if the developer doesnt pay you back on a payback MoU.

i was also contacted by them last month for payback deal i said that Mou is not enough so if you can give me PDC then i can think about it later they have agreed to do so but i refused because they had promised to buy back the units
sold in Dubailand which they have refused to buy back.I would say if your freind
has PDC then he has 50% chance but if not then he has no chance as Mou is not
enough> The developer can say that he has no money to pay back what can he do, nothing
regards
DJAAN

 

[sasherwani2]

Well MoU is a legal document and a company has to follow it until and unless it declares bankruptcy. The only way my friend wont get his payment is if Barrakah shuts down or something. Has anyone had direct experience with Barrakah?