sharmock wrote:i have bought an apartment in apt5, through larionovo and have paid a deposit and two other payments, what is the legal position regarding the money i have paid.
i would be grateful for any comments
Hi Sharmock,
Is Larionovo still trading? It doesn't matter now, anyhow.
Whilst agreeing that Fadesa Maroc is a separate entity from Martinsa Fadesa, we all know locally how closely they are linked and funded by the mother company.
I deal with Addoha on a daily basis and they are not too keen to give priority to sorting out the monumental mess that Fadesa Maroc have made in the country. They will press on with their particular interests and with their own generated clients and collaborators. Their relationship as at today with anything remotely smelling of Fadesa or any of it's associated companies is as cold as the Russian Tundra.
Yes, they (Addoha) will take over the remaining 50% of the venture from Fadesa Maroc but their legacy will be left at the bottom of their in tray, and that includes the agents and the clients.
I wouldn't think about it Sharmock, get your lawyer to verify that there is a Bank Guarantee in place, number one, number two, that the guarantee has been registered and that the plot of land, AP5 in this instance, has planning permission (licence). If there is none of the above issues you are at risk.
Hope eveything works out for you.
Pepe