Have you reserved at Gran Natal Golf?

JMBroad · #76 13-05-2008, 04:13 PM

Well I'd prefer Tim explained it but on his email to me he did say "please feel free to post on forum as well" - as I assume he's busy at the moment I'll post the most pertinent information here.

As I said to Tim, please bear in mind that I'm not a lawyer and can't give legal advice so just trying to give you a better understanding - this was not a perfect translation however having read once through the letter quickly I opted for speed over perfection.

The letter is, as Tim rightly assumed, from the people in charge of the proceedings rather than from Grupo Sanchez themselves.

Before reading the rest of this there are several important factors to consider:

The translation may be right but the legal interpretation may be wrong - the date mentioned may not be the "last" date of declaration (for example it could be the first).

There may be several legal reasons as to why this doesn't apply to your specific case.

This may not matter anyway if you have the bank guarantee.

This may not be legally possible for them to enforce such a short timeframe.

Due to the above, I strongly suggest that you contact your legal representatives to confirm how the contents of the letter apply to you and exactly where you stand.

From the letter that I received from Tim (I translated it for Tim but i'll put a summary here):

Last paragraph page 1:
Creditors have one month to declare existing debts - the one month starts counting from the last of the publications of the declaration of administration..."

Second paragraph page 2:
"...the date of entering administration, 15.04.2008..."

Now IF 15.04.2008 was the date from which the clock started ticking and the timeframe is one month - then the deadline would be the day after tomorrow - Thursday the 15.05.2008

Basically they are informing you of the state of affairs with Grupo Sanchez and telling you what you need to do to be listed as a creditor of the company who is owed an outstanding debt.

If you miss the timeframe, as stated in the last paragraph of the letter:

"...If the creditor is late in carrying out any of the above - their debt and their qualification as a creditor may be affected by their tardiness or omission..."

In other words, they are saying that you have a limited time frame to claim the funds back from the people in charge of handling the companies assets now.

Their contact details are in the letter - last three pages of the document is the form you need to fill out and send them together with all the original (personally I wouldn't send them all the originals!?)documentation proving the debt exists.