Palma Do Mar Construction

[Norbert]

Hi, I have just joined this forum today, essentially to post my question. My partner is one of the many unfortunate investors who had invested in plots at Palma do mar – (currently all infrastructure work is on hold pending money laundering investigations re Greenland securities).
He has recently been contacted by a law firm in Brazil – Peixoto. They have advised that he hire them to file a court action to receive a refund of the money invested, plus interest and monetary restatement (whatever that means!). They have advised that the case can take up to 2 years if not more.
I am wondering what to do. The fee they are quoting is fairly high $4000 (to be paid upfront) and then a further 20% of the monetary benefits that he may receive as a result of the court action. We are inclined to do nothing as we can’t see how the Brazilian courts will be able to award any compensation from assets that are currently frozen. However as we both are very inexperienced in cases like these I was wondering if anyone has any advice or experience they can share.
Many thanks

The current http://www.greenlandsecurities.com/dev-oasis.php website states that "Our development director, Stephen Naish, has considerable experience in all aspects of the real estate process, both commercial and residential. He is responsible for the appraisal and development strategy including risk analysis and economic evaluation with regard to new and existing Green Land Securities developments.

And on the 2nd of June, 2011, (#96 02-06-2011, 06:21 PM) Mr. Naish explains that he "... helped to set up Greenland Securities in 2007 as a Real Estate agent specializing in Brazil. I subsequently sold my shareholding in the company to concentrate on consulting on developments in Brazil rather than selling.
Greenland have remained a client as have various other development companies.

According to the DD done by Manzanares, the land was owned by Green Land Investments Ltda. But according to the note made by Peixote Advogados, the land was actually bought by Stephen NASH.

If I stood in your Havaianas, I would at least try to contact Mr Naish and find out what he is able (and willing) to do to avoid a lawsuit.
In any case, why not set-up a LOA/Land Owners Association with as many other buyers as possible, and sue collectively?
BRL 4000 PLUS 20% of the amount collected is excessive, and a 'special tourist rate'.

Good luck!

P.S. Once you have posted 5 messages you will be able to send/receive Private Messages (PMs).

 

[JMBroad]

I wonder why..happens quite a lot on this forum .You are supposed to just smile and say that`s ok!!

Now I'm starting to think that this may be Dotty's new alias. Foundless snide remarks like that is why Dotty got banned.

As for your post Norbert - I checked and nothing was deleted so you may have closed the browser before your post was saved or something like that because it wasn't moderated.

 

[Norbert]

Please, Penelope, no Dotty remarks!

I wonder why.. happens quite a lot on this forum. You are supposed to just smile and say that`s ok!!

It is usually my own error, because my online connection sucks, or I press the Rreview instead of Submit button because of rheumatism.

 

[Norbert]

Hi, I have just joined this forum today, essentially to post my question. My partner is one of the many unfortunate investors who had invested in plots at Palma do mar – (currently all infrastructure work is on hold pending money laundering investigations re Greenland securities).
He has recently been contacted by a law firm in Brazil – Peixoto. They have advised that he hire them to file a court action to receive a refund of the money invested, plus interest and monetary restatement (whatever that means!). They have advised that the case can take up to 2 years if not more.
I am wondering what to do. The fee they are quoting is fairly high $4000 (to be paid upfront) and then a further 20% of the monetary benefits that he may receive as a result of the court action. We are inclined to do nothing as we can’t see how the Brazilian courts will be able to award any compensation from assets that are currently frozen. However as we both are very inexperienced in cases like these I was wondering if anyone has any advice or experience they can share.
Many thanks

It appears that Mr. Naish has disappeared in Paraiba. I wonder what is happening to the investors in his latest project [ame=http://www.youtube.com/watch?v=cVIDxc0atok]Brazil Investment Property[/ame]
His partner, by the way, is/was also founding director of Greed Land Securities, according to his LinkedIn
They're buddies, as they were both involved in the Paraíso Beach Canoa Empreendimentos, as well as in several other projects. I would really take a neutral lawyer in Paraiba, as both Peixoto and Manzanares were involved in the Palma Do Mar 'project'.

 

[Norbert]

PALMA DO MAR et cetera

I was always under the impression that Green Land owned the do Mar developments.

According to the notes PEIXOTE ADVOGADOS made on the DD report, it was Stephen Lesley Naish who bought it in 2008 ......

 

[rkinvestor]

The last I talked to Steve Naish was in may where he mentioned that the contsruction will fihish in October as he was waiting for the funds to come in. Now he is nowhere to be found as I cannot get hold of him.

I would love to get my money back if construction is on hold or never going to be completed. My DD was done by Manzanares, so I don't think they will be much of a help.

 

[growler]

If this Steve Naish is the person I think he is, then he is back in the UK.

 

[Norbert]

Naish

If this Steve Naish is the person I think he is, then he is back in the UK.

Where he will be much easier to find!

 

[Norbert]

Stephen Plays Galf In Spain Again?

http://www.spanishvida.com/2012/03/22/happy-days-golf-society-vistabella-with-nigel-cawthra-2/

 

[Norbert]

IT???

I heard it has not yet started...check the internet for that

IT has not started yet?:stupido3:

 

[Norbert]

This is one of the many so-called developments where Europeans (usually UK or Spain based) buy some cheap to very cheap land, miles away from the beach.
With the help of a web-maker they turn it into a believable 'resort' and start selling it to the overseas market.
When things go wrong they disappear, and usually move back to Europe.

I bet non of the investors got their money back.

 

[cariocadagema]

This is one of the many, many so-called developments where Europeans (usually UK or Spain based) buy some cheap to very cheap land, miles away from the beach.
With the help of a web-maker they turn it into a believable 'resort' and start selling it to the overseas market.
When things go wrong they disappear, and usually move back to Europe.

I bet non of the investors got their money back.

Steve Naish 1

Steve Naish 2

 

[Vsgill]

Inventors affected by this scam

Hello all
We had invested in Palma do mar in 2008 as well.
But have not been able to get any productive lead on what others are doing or if anyone had success recovering any money.
Could you please post if you are currently taking any action to recover any money from Palma do mar investment. Or did everyone loose hope like us to get any money back.
We are based in Canada..
I think it will be a good start if others affected can post here and form some kind of group.
Cheers
V