For those few investors that still may be thinkin of handing over money to Sambala under duress – have a look at http://www.dailymail.co.uk/news/article-2287140/Tycoon-accused-taking-300m-British-investors-faces-freeze-assets-failing-build-luxury-homes.html
or look 2day’s Daily Mail article on Harlequin Property or Harlequin Hotels & Resorts. Watch the video to see the boss talk just like Domoby does. Now they are bust owing millions to investors who paid 30% upfront.
I posted here a few months back that this was gonna happen 2 Grepne + McGlynn and I was right. They are headed in the same direction. They are in the Q. Could happen any day now – many investors will get justice but probably aint gonna get thier money back. Once this happens the project is stone cold dead. Any money investors pay now is gonna go straight to British Virgin Islands never to be seen again.
I look forward to the day these crooks are done.
Viceroy be warned. Sleep with dogs – youre gonna get fleas.
I have just been informed that there is some sort of injunction against Sambala in CV. This injunction seems to mean that they can not release properties until on-going action is settled. Aparently they have known this for some time and even appealed unsucessfully against it. So while claiming there is no legal action against them it seems that not only is there, but it also seems they do have as long suspected a case to answer. I am also led to believe that similiar injunctions have been upheld against other developers on other islands. Apologies for the vageries here but I am also led to believe there is information on this and other injunctions on the net on various blogs – trying to track these down. So while this “deal” with Viceroy seemed a very good thing there may well be some other forces at play here. Of course as always do your own research and you will find all the infromation you need to make any decisions you choose to make.stan duppMember
Indeed. Sambala have put out a statement denying there is any current injunction preventing them from carrying on with the development or handing over the long awaited deeds for one of the blocks. However, their statement is thoroughly confusing and appears contradictory. Either the injunction failed or it didn’t. From their own admission they had tried to get this injunction moved to be secured on some other assets as to not hinder the project, but they admit this has since failed. To me this reads that they tried some jiggery pokery and it didnt work. I cant think of any other explanation as to explain why deeds on one block are two years overdue. It makes no sense. I can also thoroughly understand why a group or groups of investors would seek an injunction through the courts to stop handover of properties in their block or tranche if their properties had been seized by the chuckle brothers for supposed “breach of contract” and thus depriving the investors concerned of every penny they had invested. I think only Sambala can view a customer is in breach if refusing to pay for an apartment stage payment when said apartment is in excess of five years overdue and isnt even finished with no payment of rental guaranteed in the contract or compensation guaranteed in the contract. It beggars belief that they couldnt make some kind of concession to buyers in perhaps financial hardship as a direct result of Sambala’s mismanagement. Why seize properties causing more bad PR and legal troubles and obstacles if there is this equity investment?
So, what next? This Viceroy involvement and equity may turn things around, but if Sambala get a kicking in the courts then they deserve it and it is only Sambala that are jeopardising the whole thing. Watch out though, because the next thing will be “people must pay on time to ensure the build progresses” and “in order to ensure 4 or 5 star rating and enter the rental pool you will have to fund the installation of air CON and it is very expensive you know, what with the import duty. This will need to be paid now, in advance, before your apartment is completed, in order to get your airCON on the boat”
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