Developer Bankruptcy

[Susan Emmett]

I would love to PM you but can't until I become an 'active member'. I'm working on that

 

[Susan Emmett]

Really sorry, this should get me to five posts so that I can PM you.

 

[Sunnyshores]

Well after 12 months ........ we have had very little progress on Sandalet and have been informed by a contact living in Turkey that our developer has been made bankrupt.

Yet to have this confirmed by R2i (who according to their letter to me "maintain an active role in developments after they have been sold ensuring that buyers investments are protected" - yeah, thanks for that you've been invaluable!)

Our Turkish lawyer wrote 10 days ago that she would have answers shortly - good, as we only have 30 days to file our claim - but then disappeared too.

Situation is we owe them our 20% balances on completion - but they owe us 29% in late payment penalties. So we need to ask for our 29%, incase they ask for their 20%. And, so we have money available to get someone else to complete the development and put right all their shoddy work.

I know the Developer is trying to persuade people not to mention Sandalet to the Receivers and then they will finish it for us (not that they've managed this in 29 months)My worry is that the lawyer will be persuaded by them and fail to register us as creditors. This is our one chance to register, if we dont, thats it over.

So my question is:
Does this have to be a complex letter to the court detailing the claim and showing onerous amounts of secretive paperwork (as the lawyer makes out).
Or can we just initially write a letter saying we are owned £x and attach the contact with Yapi?

Anyone know anything about bankruptcy in Turkey?

Debbie

 

[Green Dolphin]

Dear SunnyShores,

Is there still interest in Elite Park here or has everything moved to Google?

Thanks,
GD

 

[Sunnyshores]

Green Dolphin
The google group is active and also 3 years ON forum.

 

[Merry1]

Elite Park =Demo

Is this forum still active Sunnyshores or have you all disappeared into a seperate group? Feeling a bit isolated and as the years go by with nothing resolved I do want to hear from other investors just to make sure I've not missed important facts.

 

[Sunnyshores]

The forum is still monitered by various investors "in-charge" of the Turkish developments. You could post on the google forum if you want to know something specific.
Or, there are many people now on the 3 years on website (not just Turkey): Three Years On - Login

 

[Merry1]

Thanks for this information.

 

[nebile]

hi there,

i am an another elitpark victims. I just foiund a group on facebook called r2i turkish investors. Please join

if you live in uk my number to contact 07734579337 neb

 

[nebile]

email adress

hi there,

me again. victim of elitpark investment

i wasn t able to send my e-mail adress by this page Please text me on 07734579337 so i can text my e-mail adress

Looking forward to hear, Thanks

neb

 

[medseA]

My advice to buyers is, never buy off plan property thinking you will make more money as an early bird.

Buy something that you actually see, there are many urgent sellers too where you can get deals.

 

[ellend5]

Does anyone have any information on the R2I Forest View Romania? Any help would be appreciated.