Hello all,
I have, like nearly everyone else here, purchased an apartment in Alcudia Smir(AP5). I bought it through Larionovo in Ireland and Manazares are the legal firm dealing with the sale. When news of the trouble with Fedeasa broke i contacted Larionovo who were helpful to a point, they wouldn't comment on what was goig to happen and said that they were only dealing with my query as a "courtesy" i think was how the girl put it!
I then contacted Fedeasa in Dublin and was told that the Morrocan wing was split between fadeasa and a Moroccan company Adoha. They said that the moroccan wing was a seperate company and that it was not in administration.
I then rang the solicitors and they told me that they were going to get an update from their office in Tangier.
That was over 3 weeks ago and I have heard nothing since.....
Questions...
1: There is a payment due in September (i think). Bearing in mind that no work has started on AP5 and i have heard nothing from the solicitors I am thinking of holding off on paying...opinions?
2: The bank guarentees we have are only good for 2 years.... what then?
3: Is there any way out now ie get back whats paid??