As you all know Grupo Sanchez has now filed for Bankruptcy. At the current time there are claims that this will not effect their Project "Elegance Natal Golf" in Brazil, however the licences still have not been finalised on this project and the 12 month cut off date for all those pre-release investors is now just over 1 month away (29th May 2008)

All those of you that reserved prior to the official launch at SIMA last year will be entitled to a full refund on your deposits once this date has past, whether GS bankruptcy effects the project or not.

I am currently compiling a list of buyers that wish to cancel and get these refunds, as I am currently working on behalf of a number of buyers already.

If any of you would like my help, irrespective of who you reserved your original units through, then please just drop me a PM with your email address and the units you have reserved.

Many thanks

Lisa Nicol (formally known as Lisa Nic)

__________________
MARBEN INTERNATIONAL
Freephone from UK 0800 680 0736
www.marbeninternational.com

How can deposits be taken on land that does not have a license?How can such a huge project be promoted by famous people that no nothing about the companies finances?Who would have expected the company to collapse ?
Will all desposits be returned?Lets wait and see!

Dotty

Firstly those that reserved at the pre-launch stage knew they were entering into a pre-licenced project. There reservations were made subject to licence being granted within a 12 month period. If after 12 months (29th May 2008) licences are not granted, which unfortunately i now fear they wont be, all buyers are entitled to a full refund which is backed by Barclays in Spain.

All buyers that reserved, lodged their deposits in their lawyers escrow account in order for buyer security in obtaining their refunds should the licences not be granted.

I am now acting on behalf of those buyers that bought through my previous employers in order to ensure these refunds happen in a timely fashion.

I am well known on this forum, regarding this project, and I am now keeping to my word in order to ensure all is fair.

Thanks

Lisa

__________________
MARBEN INTERNATIONAL
Freephone from UK 0800 680 0736
www.marbeninternational.com

Hi Lisa,

It is very humbling for you to help buyers out.I am sure many are not even aware of the real situation.Brasil is enormous and buying land is not difficult,but trying to pull together an enormous project like GNG is really difficult to pull off and time consuming if not most unlikely due to the volume and paperwork involved in the Brazilian paperwork system ,rules and regulation,ecological issues,etc,etc. Will the buyers recieve interest on the money at Barclays and compensation for false hopes too?

Lisa.

Some of the deposits (including mine) were not paid via the solicitors (in my case Manzanaries) but were channelled through diectly to a GS account. Notwithstanding the Barclays guarantee duly arrived so I'm assuming that these monies were subsequently transferred in to an escrow account or indeed it was set up as an escrow account.

K

Hi Keith

I am looking into this for you at the moment. You paid your deposit to IPW didnt you by bank transfer?

If this was the case we transferred all the moneys to manzanres on your behalf to be held in their escrow account. If you paid the moneys direct to GS, then there should still be no problem as the moneys should still be in their client account pending license.

I am hoping to have updates for all "my" buyers, that have already been in touch as you have by end of this week!!

Hope this helps

Lisa

__________________
MARBEN INTERNATIONAL
Freephone from UK 0800 680 0736
www.marbeninternational.com

Unfortunately Dotty I fear not and whilst I agree this should be the case, I feel that with the circumstances being as they are, most buyers will be just greatfull to gain the deposits amounts as paid and to be just rid of the headache that is now Gran Natal Golf!

When GNG was at the pre-launch stage I really felt it was a fantastic investment. It is only in recent months that it proved to be a non starter. This does not take away the fact that I was the General Manager of a company promoting this project, and even though i have now moved on i still feel duty bound to provide a service to my clients of that time (and now anyone else I can assist too) to ensure monies are returned as due.

I am sure my previous buyers on this forum will advise that I have always been upfront and honest with regards to this project, and have done my utmost to update as frequently as GS would allow.

I just see obtaining the refunds as a continuing part of this duty.

Thanks

Lisa

__________________
MARBEN INTERNATIONAL
Freephone from UK 0800 680 0736
www.marbeninternational.com

I understand that GS were at the Madrid show last week, and still marketing GNG. Were any of the agents here visiting the show and were any questions asked? I am told that they were still only able to take reservations, so I guess they didn't get the last licence yet. The guarantee therefore should be effective if they fail to get the licence. The question I think is what will happen if they do get it before the 12 month deadline, with the current circumstances of the company. I am sure Barclays will be unwilling to rescue investors, in the same way insurance companies always seek to find ways to escape payouts on claims.

__________________
Michael Bush
e-mail mbush5@aol.com
http://www.thecompletepropertysolution.com
skype name michaelbush

I didn't see them there, but I only really looked at the international hall in detail and that took 8 hours, so they could easily have been elsewhere as it was a massive exhibition.

They also weren't on the list of exhibitors I was given.

__________________
Property for Sale in Brazil | Exclusive Property in Pipa | Buying property in brazil

My understanding was that were originally exhibiting, (they were listed on the original exhibitors list I was given) but then after the bankruptcy announcement I think they must have decided to pull out!! I certainly didnt see them there!!

__________________
MARBEN INTERNATIONAL
Freephone from UK 0800 680 0736
www.marbeninternational.com