Shooting themselves They are getting their advice from Anthony Seddons in the UK - governed by the UK Law Society!!!!!!!!!!!! Shocking.
They have promised me an arabic contract because I said would not proceed with out it and told them I would pull out last week.
What I think the problem here is, they have an appointed solicitor (seddons) who they recommended us to use (WHICH THEY WOULD BECAUSE ITS THEIR LAWYER!!!!) so basically I think what they are saying is, if we do not use their solicitor, all the information has to go through us (the individual) and we then pass to our lawyer who then passes back to us, and then we go back to IPI!!! I suspect they try and make it difficult so that you use Seddons (who are their lawyer (with THEIR interests at heart) and charge us £1000 for the priviledge - no thank you.
Lou
Hi Lou
As a PR exercise they aint making any friends. Stoopid really cos the development sounds nice and life is complicated enough in Egypt. I cant believe that AS (who have an Egyptian lawyer on staff as I believe) would allow a Private Purchase Contract not in Arabic.
Perhaps we have all, who have all been advised that the only legal agreement to secure ownership of a real estate asset must be in Arabic, have been badly advised.
Just to play devils advocate - as the agreement doesnt actually deal with an asset (cos it aint built yet) perhaps it is sufficient to have the contract in English/Dutch/Spanish whatever as the only legal issue at stake is that of the agreement between 2 parties and if they fail in their obligations then recourse is taken outside of Egypt.
Its funny how when you sit and type this stuff, other stuff occurs to you. Reading back on this post I seem to have given logical reasons for either situation.
Ah well ...
Anybody legal out there who can comment finally on this'
Rick