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Posted: Mon Dec 15, 2008 10:44 pm Post subject: Is Huma going under ?
It's all very quiet here !!! There are rumours that Huma are in a dangerous position financially. It is being said that workers are not being paid. Very worrying for us.
What I don't understand is, we have always been told that our money was in separate account at the bank and would not be handed over to Huma until we received the keys to our property. Now, the bank is refusing to refund our money, how can they be allowed to do this. Does anyone have any answers ??
Does anyone have any information about Humas assets. They must have land and personal properties.
Problem is, the bank will have the title deeds to any land or property they own as security against loans and overdrafts. You should push the banks if you have a bank guarantee, as they are responible for honouring it.
Posted: Mon Jan 19, 2009 5:48 pm Post subject: Huma going bankrupt?
Hello haven't posted before but regularly log in to see what progress there is. Our current position is that we recently sued the bank and got all of our money back, this was in December 2008.
We bought a property in 2004 with friends and as I said through a solicitor got our money back, but are still pressing for the legal costs and compensation. Whether we see that is another thing.
We were in Spain for new year and went to the site, there were two security men there, and the site is looking very unkempt, trees dying, etc.
On Friday we received an email sent to lots of customers I think, from a company employer, who wanted to warn us that Huma are going bankrupt, the staff haven't been paid since November and they are getting rid of staff.
Don't know where that leaves everyone but I am glad we have got our original investment back.
We got our money back at the end of december, after 2 years of trying, we eventually executed the bank guarantee at the beginning of september, our bg ran out on the 14th october, it took daily phone calls to the solicitor for about 2 months.
We still have the 3005 euros deposit to get back plus interest, but our solicitor seems reluctant to try, saying would cost more to take to court.
I am of the opinion I would sooner use it in court costs than Huma have it, as i said to solicitor, if 200 people do not bother they are quids in.
What started as a dream ended a nightmare, the only good thing is with the pound to the euro at the moment we got more back than we paid.
I believe that Ran is correct in his assumption.
With over one million new build unsold properties on the market, which in some cases have been reduced by up to 35%, why would anyone in their right mind take over a project from Huma at any price, as they have now received so much bad publicity from their tactics at ACC and MCC towards their clients, that the only way they will ever escape from the reputation they have gained, is to set up a new company with a new company name, using the vast amount of money they have taken and moved out of the company. I fear for those people involved with Huma as I feel the writing is on the wall for bankruptcy any time.
I also believe that one of the many reasons for Spain's financial situation, is the "Poor and slow, 3rd world legal system they have", allowing corrupt people and companies like Huma and their associates to play with peoples lives, which has lead to a lack of confidence throughout Europe for those wishing to by in Spain.
Posted: Wed Feb 25, 2009 1:47 am Post subject: Dunedin.
You've hit the nail on the head Dunedin.
A nation that has everything going for it,has through laziness killed the goose that lays the golden egg.
For a decade the Spanish have had a massive receipt of funds from the richer E.U nations to help them build their infrastructure. The richer northern European nations who bankrolled all this, have had their nationals repaid by seeing their aspirations of having an honestly bought "place in the sun" repaid disgustingly badly by dishonest agents (Some British) developers and builders cynically destroying their dreams through their greediness.
Ireland had masses of money too from the E.U. Yet you can buy a home in Ireland without any real worry of being ripped off. So what's the difference between Ireland and Spain?
One has an honest legal system,and the other doesn't. One is accountable and the other isn't. One cares about it's reputation the other will sit on it's hands while it watches honest people lose their life savings.
Your post sums it up exactly and expresses the way many many 1000's of people feel about the Spanish property sector.
For sure, anything negative happening there today is much of their own making.
Yes we can all blame credit crunches and downturns but factually the Spanish had us all eating out of the palm of their hands and would have continued to do so without any hesitation. Their property sector was so strong and powerful they could have very easily ridden out any down turns. We all wanted a piece of the Spanish life and to some extent would pay over the odds for it as long as it was legal, honest, and safe.
Sadly not so for many who purchased there. It collapsed in planning termoil and corruption , demolitions and greed - and the world now knows.
Not only buyers, but even the tourists are running scared and going else where. Why? you may be renting an illegal property for your holiday and get ripped off €7 for a beer.....
Anyway a massive advertising campaign is on the way to attract tourist back and the EU meps are on the property scandal case ........so that will really put things right won't it.....
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