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Anyone know anything about this - info on this posted on another forum.


URGENT!!! SUPERIOR GOES INTO ADMINISTRATION! – RESORT ALLIANCE & SAHL HASHEESH INVESTIGATION!!!

I wanted to let you know about this as soon as possible – unfortunately it appears Superior Real Estate has been forced to go into administration due to non and delayed payment of substantial funds from their international developers.

Superior as most of you are aware are a big English agency with over 23 years experience and were major agents in the Egyptian property market having many dealings with the Sahl Hasheesh development.

I'm trying to get more info !!!
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It is true they have gone into administration and yes late or none payments from there international developers has been cited as one of the reasons. Very sad but i don't think they are the only big players struggling.

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Best, Regards, Neil Hollingsworth
Email - neil@rivermeadglobalproperty.co.uk
Find us on the FreeIndex directory http://freeindex.co.uk/profile(river...rty)_98122.htm and read our reviews.

If these are the same guys who were involved in the Florida property market I think there will be quite a few pleased people around.

Mark .Y.

Hi Mark are you not refering to ***, I beleive they caused a lot of trouble in the Florida market? I know Superior have some very good projects in Florida and have not had any problems over there because they had 2 seperate companies. Superior USA and Superior UK i think it is the UK operation that has struggled with not receiving payments.

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Best, Regards, Neil Hollingsworth
Email - neil@rivermeadglobalproperty.co.uk
Find us on the FreeIndex directory http://freeindex.co.uk/profile(river...rty)_98122.htm and read our reviews.

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A Guy call John Fletcher (BE, GDMM, PMP, MSP), has posted lots of stuff about the underlying cause on another forum - quoting lots of underlying issues between owners and developers.

Has anyone used Superior to buy anything and been let down.

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Sorry Neil, don't know who *** are.
I understand Superior have been involved in a couple of quite large developments that have simply not been built. Don't know who is to blame at all. I also believe Superior USA and Superior UK are basically the same company, just set up in this way for either tax/accounting or liability type reasons.

Mark .Y.

Hi Mark i put a company name down but it was changed to *** so i can't tell you?? As far as i know they were seperate companies and Superior USA is still going and Superior UK have gone into administration.

__________________
Best, Regards, Neil Hollingsworth
Email - neil@rivermeadglobalproperty.co.uk
Find us on the FreeIndex directory http://freeindex.co.uk/profile(river...rty)_98122.htm and read our reviews.

Just to repeat what I have written on other forums on this subject it is true that Superior Group have gone into administration but this in no way affects Resort Alliance. My company took over responsibility for the marketing of Sahl Hasheesh on 1st August 2007 through our network of agents in Spain, the UK and Ireland.

Resort Alliance continue to be the Worldwide Promotors of this project on behalf of the Developers, Orbit for Touristic Development.

All commissions due to Superior were paid months ago on the due dates. My company have NEVER had a problem getting paid.

It is true that one client John Fletcher has an issue over his apartment which dates back to last year; he requested changes which the Developer never accepted so there was never a contract. He was offered an alternative apartment which he refused and this is now the subject of many posts by Mr Fletcher on several forums. However, to the best of my knowledge most Sahl Hasheesh owners, including myself are very happy with Orbit and Resort Alliance and construction continues on plan.

Superiors demise has nothing whatsoever to do with RA or Orbit.

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PROPERTY SHOP INC. International Property Brokers
EGYPT REAL - Your One Stop Shop for Hurghada Property
Investment Property in Egypt

Thought that might have been the case with the name Neil.
I still seem to remember from a few years ago that Superior USA were simply the US arm of Superior UK. Obviously nothing wrong with that and it is very plausible that the UK arm could go bankrupt whilst the US operation continues.
Judging by Peter's post, it doesn't look as though it will be the sort of thing that is going to bother anybody on here anyway.

Mark .Y.

Just to update everyone it is true that I requested changes which the Developer refused - however these changes were only done after Resort Alliance told me I could have them. However as it turns out Resort Alliance had never checked with the developer I could have these changes.
When the developer refused to sign my contract because of these changes Resort Alliance did not bother to tell me - instead they told me for the next few months that everything was fine - I only learnt the truth about 7 months later - in the meantime they were busy informing everyone else and organising meetings for other people who'd bought the apartment and NEVER informed me of all the changes going on... and the fact that my apartment was then removed off the plan so there is no 7.1.07 at Oceon Breeze anymore... and yes it was true they tried to get out of trouble by offering me another apartment which however was 30% smaller than what I had bought which I found quite unsatisfactory and it was before they explained to me that my contract had never been signed.... all the 8 months while they had told me everything was fine with the contract and had taken my 40% money they knew everything wasn't fine and my apartment didn't exist anymore!.... Superior also knew about this but had not told me but claimed that Resort Alliance had committed to sort it out which they never did...
The Association of Property Professionals have carefully reviewed my complaint against Superior and Resort Alliance and this week have upheld my case ... they have now referred the matter to the German professional authorities which Resort Alliance are a member of to take appropriate action.
I hope this clarifies this whole mess which is still ongoing.
Further there are other people who were affected by Resort Alliance promising them things and not delivered... one of them was witness at the AIPP meeting...
Peter - I understand you are trying to do a damage limitation excercise for Resort Alliance since you are selling there properties for them now ... however I ask that you respect my point of view which I will add again have been upheld by AIPP.