MRI Fraud

For anybody who has invested money in this project and have lost their faith after the decision of the Judge  Beatriz Fernandez to drop the case due to a lack of jurisdiction, it is possible to bring the case in UK and take to court Darragh MacAnthony once and for all.
For anybody who may be affected by this you may contact CPC Holding for further information.
Tel: +44(0) 191 386 2487
Liz

Fraud in Spain

Bárcenas’ ‘back-handers’ denied by Spain’s president 
20 January 2013 @ 11:17 

SPANISH president Mariano Rajoy believes it ‘unlikely’ that ex-treasurer and former senator of the PP, Luis Bárcenas, could have been paying out salary top-ups to party members in cash and off the books. A full corruption investigation has been launched after it was found Bárcenas held accounts in Switzerland and is believed to have paid out between 5,000 and 15,000 euros a month to party members. Rajoy (pictured) insists that all accounts covering wages and expenses are monitored by the Accounts Court, every cent is declared to the tax office, and that all financial matters are ‘fully audited’.

Banco de Valencia is about to close down 90 per cent of its branches…

Banco de Valencia to shut nine in 10 branches and axe 890 jobs 
By:
 thinkSPAIN , Wednesday, January 16, 2013
BANCO de Valencia is about to close 90 per cent of its branches in compliance with terms laid down by the European Commission.

The ailing financial institution, which has been bailed out by the Ordered Bank Restructuring Fund (FROB), will shortly be bought for a euro by CaixaBank.
It has notified 890 of its 1,615 members of staff that they will be made redundant by the middle of February, and then will shut nine in 10 of its 350 branch offices.
Most of those affected by the closure are outside the Valencia region.
The bank has offered preferential early retirement terms to as many employees aged 50 and over as possible, to cut down on the number of people it leaves propping up the dole queue.
It has until December this year to complete the shut-down process.

The bank that broke Spain….

…..The origins of the institution that did so much damage to Spain are in the country’s regions, which have gained considerable powers in recent years. Bankia’s components – Caja Madrid, Bancaja from Valencia and smaller savings banks from the Canary Islands, Catalonia, Rioja and the towns of Avila and Segovia in central Spain – were typical of the cajas that accounted for half of Spain’s banking system by assets before the crisis began. They began as regional businesses and were in most cases closely connected to politicians in the areas where they operated, so that Caja Madrid and Bancaja were influenced and run by the Popular party now in government.
Above all, the cajas were exposed to property, having financed the homebuilding bonanza in the decade up to 2007 and lent freely to developers, construction companies and housebuyers.
Since 2009, other cajas and groups of cajas have failed too. They were seized by the state and sold or simply nationalised – in Castilla La Mancha, Andalucia, Valencia, Galicia and Catalonia. Bankia’s fall was worse, however, because not only did it exemplify all the political and managerial weaknesses of the Spanish financial system, it was also so large as to be “systemically important”. Its failure would threaten the entire banking network and it was therefore “too big to fail”.
Interviews with Bankia executives, other bankers and analysts show mistakes were made on all sides: by national and regional politicians of both the PP and the Socialist party, stock market and bank regulators, the previous and current managers of the bank and its component cajas, by investment bankers, bank analysts and by an insufficiently inquisitive media. While it is easy to make such judgments with the benefit of hindsight, it is also true Spanish commercial bankers have long been scathing in private about the property lending follies of the cajas, especially around Valencia where Bancaja was based.
Madrid was only slightly better. During Spain’s housing boom, mortgage lending at Caja Madrid, the largest of the savings banks that formed Bankia, started to grow so quickly that, by 2007, some executives were trying to slow things down. After its mortgage book expanded by 25 per cent in 2006, Carlos Stilianopoulos, Caja Madrid’s then head of capital markets and later Bankia’s chief financial officer, said: “We don’t want to grow this fast. We are a savings bank so we don’t have to keep shareholders happy. We prefer to have a solid institution.”
At the same time, warnings from abroad about the overheating of Spain’s property market were dismissed. “Perhaps in other countries this pace of growth would be seen as a bubble,” he told Euromoney. “But not in Spain.”
Caja Madrid continued to grow and moved into marketing exotic financial instruments to foreign investors, such as bundled packages of loans.
“Fifty per cent of the banking sector in Spain – which was the cajas – did not have the corporate governance or the management skills to withstand a crisis,” says one of the many investment bankers involved in the July 2011 initial public offering of Bankia.

Tecnologia Urbanistica

22 Jun 2012 17:31 by Keith110 Star rating in the UK and I am lead…. 581 posts Send private message

 

Great article and Fantastic result for all concerned!!

Well done to CPC Holdings and Aguera y Arrebola.

Aroca Seiquer – surely not the Lawyers still trading in Torrevieja??  Is this the same firm who claim on their website:

“Every client using AROCA SEIQUER & ASOCIADOS’ services is 
certain that theirs is our cause and that we will be unstinting in 
our efforts to ensure a satisfactory result.
One of the most relevant activities in this firm is the 
comprehensive expert advice we offer on Foreign Investments in 
Spain, and particularly in the Costa Blanca.
But it is undoubtedly our wide offer of legal services that 
allows us to attend with all guarantees to any legal contingency 
that our clients may be faced with”.

Unstinting efforts for a satisfactory result, expert advice on Foreign Investments on the Costa Blanca, all guarantees to any legal contingency – REALLY????

If this is the same firm then what do they have to say about the mess they left their Tecnologia clients in?  Surely somebody must report them to the Bar Association.

Kind regards

Keith

More residents join the fight to save their homes

14 JUNE 2012 WRITTEN BY  LOUISE CLARKE

More residents join the fight to save their homes

Lesley and Nigel have joined the fight for their homes Lesley and Nigel have joined the fight for their homes
MANY REGULAR readers of RTN will be aware of the recent articles about the repossession of Tecnologia Urbanistica S.L. (TU) houses in Orihuela Costa.
As the auction date for their houses draws ever closer for the homeowners of Bosque del Lomas III, RTN has been keeping updated with all the developments on this story and recently visited London to discuss the case with several leading lawyers and barristers who specialise in these types of cases.
But this problem is not just isolated to the three or four urbanisations in Orihuela Costa. It is believed that hundreds of people who bought and paid for houses in full with this developer are affected and they just don’t know it; or they are burying their heads in the sand and hoping that the problem will go away all by itself. It won’t!

FOBBED OFF
Nigel and Debbie Potter and Lesley and Richard Lansdown are just two of a dozen couples who bought TU houses in Lo Crispin, Algorfa. The problems they have are almost identical to Bosque del Lomas; the only difference is the banks that were used for the mortgages.
Both couples bought off plan through Atlas International in 2004 and used Aroca Seiquer Solicitors and both paid in full for their properties only to discover eight years later that a mortgage had been taken out on the houses by TU and they will now, if they don’t fight, lose them.
Their community, Vista Rosa, has 99 houses; many of which remain unsold and are now decaying. Both told RTN how they were fobbed off by the solicitors every time they went to ask for their title deeds when they came over on holiday. “It drove my wife mad,” Nigel commented, “We’d spend all our holidays traipsing to their office and back and always got pushed from pillar to post.”

CASH
Thanks to RTN’s article about the plight of the Bosque del Lomas residents, the two couples realised that they were in the same situation and have since joined the Bosque residents to fight for their homes. “Our children’s inheritance is at stake,” commented Lesley, “We have been totally fleeced and made to feel like it was our fault that we paid up front in full.”
Both couples paid their cash at the builders’ office in Torrevieja, whilst being accompanied by an Atlas representative. “There were loads of us,” said Nigel, “It was like a cattle market and we watched our hard earned cash go through a counting machine in front of us. I wish to God we had not bought the house, but we did and we will continue to fight for it.”

*** STOP PRESS ***
At 3pm yesterday afternoon (Thursday) CAM Bank announced that the auction of the houses on Bosque del Lomas III has been postponed indefinitely.
More on this in next week’s RTN.

Auction stopped in the nick of time

21 June 2012 Written by Louise Clarke ( Roundtown News ). 

Auction stopped in the nick of time

Bosque dDel Lomas IIIBosque dDel Lomas III
IT STARTED in March with an article in RTN and after weeks of legal wrangling, the residents of Bosque del Lomas III in Orihuela Costa found out last week that the auction which was due to take place yesterday (Thursday) has been cancelled.
RTN’s article featured Iwan and Gill Williams who had bought their dream home in the sun and paid for it in full only to have it re-mortgaged by rogue building firm Tecnologia Urbanistica S.L. Their house, along with 15 others on the community, all paid for in full, were due to be auctioned by CAM bank, whom the builder had remortgaged the properties with.

VICTIMS
As soon as RTN’s article was published, more homeowners came forward to say that they were in the same situation. CPC Holdings, who had read RTN’s article contacted them all and instructed their Spanish solicitors, Agüera y Arrebola, to fight for the group, which by that stage amounted to more than 20 Tecnologia ‘victims’.
The pattern of each purchase was almost identical; all had used Atlas International as agents and Aroca Seiquer as solicitors on the recommendation of Atlas.
It was only when the deeds of the house failed to materialise that the homeowners realised that there may be a problem with their ‘dream house in the sun’.

VICTORY
The cancellation of the auction is a very positive step and one that has come as a direct result of all the hard work by the legal team representing the homeowners. Nikki Crozier from CPC Holdings told RTN: “I cannot express in words how delighted we are at the recent victory in the courts for our clients. It is a testament to their combined fighting spirit that they trusted us to win this case for them. No-one can imagine the horror of finding out that the property you purchased was in the process of been sold and you were to be thrown on the streets.” She added: “In less than three months our Spanish Barristers, Tomas Agüera and Jose Manuel Arrebola, have succeeded in suspending the auction indefinitely.”

FIGHT
But that is only one bank which has been stopped from repossessing and selling on these people’s houses. There are three other banks which have vested interests in Tecnologia houses all over the southern Costa Blanca. So, the fight is by no means over and soon criminal charges will be brought against the rogue builder in an attempt to not get the money back, because that is long gone, but to get some justice for the years of stress and upset that his selfish, greedy, and frankly fraudulent actions have caused these poor people. Nikki concluded: “Our clients can now live in peace whilst we file claims with the liquidator, criminal claims, obtain escrituras and regularise the development itself.”


 

In the nick of time. Well done to our legal team.