Grepne Wants your money NOW

This topic contains 7 replies, has 4 voices, and was last updated by  karl 9 years, 2 months ago.

  • Post
    stog
    Member

    Karl

    Thanks for that, this bit I found interesting!

    I can build your property and complete the Village but not without funding which is why I respectfully request that you change your position and confirm that you will proceed with payment on your completed foundation for Villa +++. May I also again apologise for the delays and frustration, thank you for your patience but also reaffirm that with your agreement, we will be able to complete Vivendas.

    So let me get this right, I thought the stage payment money for VDS was ring fenced ? THE MONEY PAID FOR OUR VILLAS WAS ONLY FOR OUR VILLAS???

    THERE ASKING VDS INVESTORS TO PAY UP TO COMPLETE THE VILLAGE????????

Viewing 7 replies - 1 through 7 (of 7 total)
  • Replies
    karl
    Member

    This is the begging letter from Grepne, How many other investors has he sent this to.

    Dominic said the other week that high % had paid up,, MORE LIES THEN DOMBOY.

    If you did recieve this letter please tell.

    Dear +++++,

    I am aware that you have received much correspondence from Sambala in previous months explaining how we are now aligned and on schedule to complete your property. I also wanted to explain that I, like you, am also very frustrated with the process to date particularly in view of the additional costs we have all had to bear. Although I am sincerely sorry for this, I remain committed to both Sambala Village and Vivendas de Santiago and wished to impress upon you the nature of agreements that are now in place of which your contract with me forms a part.

    The position we have engineered and which enables us to complete your property is as a result of an intensive process of negotiation and due diligence involving Sambala, BCA Bank and the Bowdon Group. In commercial terms, the arrangement is very straightforward as essentially BCA have analysed the value of the remaining promissory receipts Sambala are due from VDS investors outstanding stage completion payments against Bowdon’s costs for the same construction stage completions scheduled within the new contract. The analytical and risk teams then overlaid our overhead cost to the agreed term and ensured there are sufficient funds for them to make their interest and as a result agreed to extend the credit line across the term of our contract with Bowdon. The important point to note here is that the Bank is not funding construction but providing a ‘buffer’ by extending credit to Bowdon in order to maintain schedule with construction thereby giving Sambala time to secure the due payments from investors and in so doing replenish the credit line.

    As you would expect these agreements are monitored by all parties who meet monthly to assess and confirm the overall status of agreements and ensure that all remain on track. As part of these monthly meetings, Sambala has to present all investor payments status to BCA which needs to remain on track if BCA are to continue optimum construction funding. If investors don’t pay to schedule, this is transparent with the Bank who then turn ‘the tap’ down on the credit line which in turn forces us to slow down the build. We all know that announcing a forced slow down of construction at this stage in the process would be extremely detrimental to all of our interests and so not an option. I do understand why you would want to hold back due monies until evidence of more construction is apparent, but need you to understand that doing so ultimately prevents us from achieving that which you wish to see. The relatively straightforward commercial structures behind building your property and therefore all in Vivendas de Santiago are naturally linked to the contract we have together as the payment terms within provide the values for all concerned parties.

    I can build your property and complete the Village but not without funding which is why I respectfully request that you change your position and confirm that you will proceed with payment on your completed foundation for Villa +++. May I also again apologise for the delays and frustration, thank you for your patience but also reaffirm that with your agreement, we will be able to complete Vivendas.

    I hope you can agree and look forward to your response.

    Yours Sincerely,

    Jonathan Grepne

    Chairman

    Sambala

    karl
    Member

    STOG

    This is why I thought that the whole letter should be posted.

    Over the last month

    No1 Sambala wrote and asked for the money
    No2 Sambala make threats of legal action for non payment
    No3 Sambala say they are going to start to add interest on
    No4 Dominic starts to phone up and ask for the money
    No5 Now Grepne sends out a sob story for the money

    They went down this same route a few years ago, If the bulling does not work then they BEG FOR YOUR MONEY

    stog
    Member

    Not very profesional, then again we are talking the dynamic duo Dom and Grepne, or should I say DICK DASTERDLY AND MUTLEY, which is which though????[;)][;)][;)]

    astocks60
    Member

    Hi Karl,
    Welcome back to the forum. Your comments have been sadly missed by the dirty dozen. An interesting post. Never a dull moment when dealing with the Sambala circus and the two clowns trying to direct the show!

    Tony

    karl
    Member

    Hi Tony
    I had a break but i am back and i am finding out more every day.

    Just wait and see [:X]

    astocks60
    Member

    Hi Karl,
    Thanks for the latest update and I look forward to more information.

    Tony

    crazydude
    Member

    Yep….me too, i look forward to hearing what you have say, so long as it substatiated and not gossip or assumptions

Viewing 7 replies - 1 through 7 (of 7 total)

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