off plan purchase at crystal spa aparthotel - eurosilex

[dannyo]

hi tidalflow
I think you believe what eurosilex are saying,I feel their is only one way to solve this that is in the courts,look at the last post,I am an investor i live by a contract and when it is not honoured i react.its like this when you go in to a garage to buy a bmw and pay for that you do not coe out with a fiat,now if you want to settle for anything thats your choice not me.dannyo

 

[bettyb]

Mr Glas,im a bit confused by your posting you say no client has lost any money and you will fight to prevent this happening.Yet at the start of your posting you say all the clients money have been used either to build the projects (unfortunately not finished) or the banks used it to refund earlier their loans due to the international financial crisis.So which is it ? Please explain to a mere investor what you think you mean

 

[yam600]

Good Evening all
I have just this evening come to this sight and I am surprised (but not surprised) at the volume of talk concerning Eurosilex.
I have been compiling a dossier on Eurosilex for the best part of 18 months; well before the credit cruch and well before they got into difficulties.
I am willing to discuss them with anyone that has first hand knowledge of their developments, as owner,builder,investor or however.
Any background knowledge of their two directors Nicolas Galand and Alexandre Glas and what they were involved in prior to Bulgaria.
In particular I am keen to hear of any instances where Eurosilex have failed in their obligations in any way.
I am also interested to hear of any success stories!
Thanks for the opportunity
Regards
Dragonslayer

DragonSlayer interesting name I can be contacted on mike at deekay dot co dot uk

 

[yam600]

mike at deekay dot co dot uk interested in talking to you

 

[dannyo]

ah yam
what do you think now,does not look like you are going to sit on that balcony after all, do you still think eurosilex are brilliant and what about your buddy ckit, telling us all to get behind eurosilex and support them, ah look on the bright side their going to give us a property(nice of them) once we hand over our money most lightly down in sunny beach,but at least you will have a balcony, the view might not be great probaly 5th line from the beach and worth about 5k,(it will probaly go up in value(in a 100 years)if it is still standing so lets get behind mr galand and mr glas and thank them for screwing us.
dannyo

 

[hennesb]

well said dannyo. more money is what they want on top of what they robbed of us already. I hope none of you are going to be so silly as to hand over any more cash. If I am not going to get the apartment I paid for I will search for my own perfect property. I am not going to be told theres is your apartment. Where are these properties coming from anyway.

 

[Tidalflow]

Bulk purchase of property

well said dannyo. more money is what they want on top of what they robbed of us already. I hope none of you are going to be so silly as to hand over any more cash. If I am not going to get the apartment I paid for I will search for my own perfect property. I am not going to be told theres is your apartment. Where are these properties coming from anyway.

Hello,
Yes - you've hit on one of the two options. Start from scratch again and take advantage of the falling property prices. As I'm now left with only limited resouces to invest in Bulgaria my choice is going to be inevitably resticted to the lower end of the market and probably not to the prime location anyway.

The only possible advantage I may have in continuing to deal with Eurosilex is if they can obtain a far better discount on the bulk purchase of property than I could individually. I'm thinking that their skills of selling at high prices may have extended to buying at below rock bottom prices! In any case I would only be prepared to transact if the signing of the relevant documents and handing over of keys coincided with the transfer of money from my own solicitor as happens in UK.

Out of interest can anyone say if the skelton Golden Valley is now the property of the Banks or has it been sold on for future development and to raise some funds to help with the relocation?

I'm sure that someone somewhere will at some stage develop it for a profit in the near future.


Tidalflow

 

[hennesb]

hi tidal flow.

I am same as you, only small funds, I have paid 46,000 to eurosilex in dec 2006. I am off on my holidays to turkey now for the next 2 weeks and the plan was to be going to my own apartment in bulgaria this year to celebrate my birthday. Who ruined my plans. yes eurosilex with their false promises and useless contracts. we can all buy our own properties in bulgaria, we dont need them telling us what we can have. and yes I would definetly advise you all not to part with one penny until you are escorted into your new property and given the keys. Where is the money coming from for them to purchase these properties. Yes our money they already have and wont give it back.

 

[dannyo]

hi tidalflow
I can see from your posts you are an honourable person but unfortunately eurosilex are not honourable, you are right that eurosilex have great skill at selling us property at high prices and id say they will buy apartments at a great price in the current market,but i will bet u a million euro they will not let us have them at a discount, from my conversation with mr glas he expects us to honour our side of the contract but he conviently forgets about his obligations to us,now your question about golden valley, this puzzles me that eurosilex have this development 97% sold and the bank wont loan them the money to finish it.Strange but then if you go with the theory that there is not enough money left to come in from investors which means golden valley is insolvent, now that leads on to the next question where did the money go, now please dont let anyone try to justify the cost speaking about top professionals that eurosilex hired it is my estimation that profit levels were as high as 100%.Now to the question of who owns golden valley,I think by right we the investors do,but by law,id say eurosilex do.Now if you want a property real bad i would not be trusting eurosilex with money,i would jump on a plane go hire a good lawyer pick a finished apartment, when you have money in your hand remember cash is king you will get a good property,dannyo

 

[ckit1476]

Has anyone tried to access the eurosilex website ?

 

[bettyb]

Has anyone tried to access the eurosilex website ?

The site has had all properties removed from main page for about 2 weeks now.

 

[dannyo]

hi ckit
congratulations to eurosilex a new web site and they have even reduced their prices,they were triple what they should be now they are only double at least they are going in the right direction, and ckit you always grace us with your presents when eurosilex has something to announce "strange" Now hopefully eurosilex can deliver what theinvestors bought and not be out looking for new investors. my advice to any new investor looking for property in bulgaria do not, i repeat do not touch eurosilex,they are a dishourable company who have not honoured their contracts with their present clients why would they honour their contracts with new clients.I am looking at their service charge and insurance charge which are daylight robbery,I think mr glas and mr galand should go to disneyland because thats where their web site should be catering for 3year olds. dannyo

 

[ckit1476]

eurosilex website

The site has had all properties removed from main page for about 2 weeks now.

Hi betty, thanks for the reply.

 

[eshero]

Cystal spa hotel

Hi folks

I have just read your concerns about the crystal spa hotel in bulgaria and I also am in the same boat as I have paid my 40% deposit. My honest opinion is we have to go for a full refund now before eurosilex can dispose of more of there assets and clean out the company. This redeployment into other apartments is a joke and I would like to hear if anybody has been offered any apartment anywhere or is this just another delaying tactic

 

[yam600]

Eshero,

I know a few people who have been offered other apartments, guess what they are priced way above what they can get direct. I think you may be right, they are stripping the company and selling off assets using the client database of worried buyers.

 

[AlbertoBertorelli]

Eshero,I know a few people who have been offered other apartments, guess what they are priced way above what they can get direct.

I would be interested to hear of any offers made by Eurosilex, and what evidence of prices vs open market prices.

 

[yam600]

Legal Action

I have been viewing your posts on and off for a few weeks now, and have made a couple of commments. I obviously dont know what your own personal circumstances are in terms of how much you had already paid towards the units, or what negotiations you are currently engaged in with the Developer - but I get the feeling that some buyers arent engaged in anything at all, yes you are discussing what you think is the best way forward - but are you actually taking action in this regard ?

We are already acting for a growing number of clients in similar situations -and I am not suggesting you chose to use us at all! thats for you to decide, and you may even already have your own Lawyers - if so then please speak to them.

BUT you do need to take some steps forward - make some decisions . or at least get concrete written confirmation of where you stand and what is being offered to you - dont leave it too late and regret it later - you need timelines setting so you have a way forward planned.

Welcome to the Manzanares International Lawyers blogsite - Manzanares Blog

The fact that you are already acting for a growing number of clients suggests we are not alone, most of the off plan developments will leave a grey stain all over the black sea. What g/tees do they give, er none.

I understand that legal action can take 12-24 months and 3000 euros plus, I feel that it would be more money wasted on a new breed of lawyers, because you do not know if your client will get anything back. Lets face it most of the developers will wind the company down before facing a high number of law suits.

Do you search to see if the developer has assets worth pursuing? Can you freeze them?

This developer claims to have 275 clients, that's 275 law suits coming their way, do you honestly think they will stay around. With the best will in the world they will be gone before winter is my guess.

 

[AlbertoBertorelli]

Any hope, no hope, Bob Hope

I have just joined this forum after watching this thread for a long time thought I should join in. We have 2 properties owed by Eurosilex. I feel we should consider the situation we are in they ain't got no money the reasons how they got there are not important, be it by design, mis- management or the cover all "global recession". By their own admission they have 275 clients, say they are holding or have taken 30000 euro deposit( they have had more from me and some people have paid 70%+ upfront) from each thats 8,250,000 euros -yes over 8 million! You ain't going to get that back - because it's gone. What you do is up to you but I'm going to lose money whatever, will paying more to a solicitor really help? They will eventually fold and hide behind limited liability company law. Are they clever or just bad businessmen?

 

[AlbertoBertorelli]

I genuinely wish you all well and hope that you find the best way forward that suits you.

Thank you for your comment.

 

[Manzanares]

Thank you for your comment.

Sorry your comment when I first read it had a lot of advertising links on it - but they have now disappeared so Im assuming there is nothing for me to answer here.