ScottieDog wrote:I got the same email yesterday.
Then asked what the status of Alkudia Smir was and was told:
"It should not [affect you] as you bought through Fadesa Maroc not Martinsa-Fadesa. Fadesa Maroc is an independent company owned 50% by Addohha Grouppe."
So not sure where I stand now. I think it's time to get the solicitor involved!
SD
ScottieDog wrote:Thanks Pepe. Appreciate the heads up.
The "should" does not make me happy, need to seriously consider what to do now....
Maybe you could head up to Alkudia and check it out - I hear the beer is nice up there!
SD
hello wrote:Hi Guys,
Lucky for you that at least Adohha has bought 50% of Fadesa Maroc and likely take over the remainder so at least you will one day have an asset (who knows when and to what standard) but as for people who have bought with them in Spain, Hungary, Poland etc then they are likely to have lost the lot. Simply be prepared to get inline with the creditors.
Also worth noting that Fadesa's assets are grossly over valued - they believe as of 6 months ago that they had fallen from 13bn to 9.7bn, this doesn't take into account that the market has dropped massively since then (and continuing) and how can you value half built developments?, they're be lucky if someone takes it on at 20% of the value.
Also surprising that their sales outlets (especially) the UK still have their doors open and continuing business as usual, surely they are trading whilst insolvent?
As for getting any info from the horse's mouth? I would doubt the horse cares or the lonely employees have as much of a clue as we do!
Sorry for the doom, but I think eveyone should be realistic and consult the lawyers, at least if you have bought in Morocco suggest altering contracts once Adohha take over to contract with them and on the same terms!
shak wrote:Pepe le pew: study on you are taking my place on the forum.
shak wrote:Pepe le Pew posted "no need for me to spoil the party."
I had warned the forum users before the invite to the party were printed. The agents became very worried that their party was being gate crashed.
For, the sake of people who had invested their hard earned money and their dream by buying in Saidia or Alcudia. I feel very sorry as it does not look.
No axe to grind.
riaz wrote:I am sure Aldoha will do a good job. It is their country and they also want to show the King that they can do it.
I have heard from others that they willdo a much better job than Fadesa would have.
Their is no need to be so pesimistic, we have not lost our money.
Fadesa maroc is NOT Fadesa!
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