Search results

Well done for getting the information out of Martinez. Martinez obviously are strangers to the concept of representing your best interests as they could only pay money across to MRI if they had a contract with MRI...which in turn would mean that from day one they were in a position of conflict...

Yes, you can tell Martinez you have been asked to prove the payment of the deposit by the liquidator of South Pacific!

Martinez has a case to answer because the story from South Pacific is that MRI received a big commission. Logically, this must have been deducted from what you paid via Martinez otherwise you would have paid to the developer.... and surely Martinez as your independent lawyer should have...

I admire your capacity for over-simplification and diverting attention from the "busy" activities of your lawyers. But I know you are the marketing and PR bit rather than the legal bit of the operation. The bottom line is that buyers should take the advice of independent lawyers who are...

It is odd that South Pacific's lawyers appear to be off-message from South Pacific itself, but, as Tomas says, there is no real scope for South Pacific to offer such a deal as it would have to be approved by the bankruptcy judge and the creditors in a vote on a re-organisation plan - this might...

The information about Avalon is the polar opposite of what we were told yesterday first hand from South Pacific. A transfer from Adelaide to Avalon is not on the table nor could it be on the table as they do not have permits for the new development. From this point of view, the information...

Some good points here. South Pacific, like any developer, will be putting its business interests first and the recent voluntary insolvency of the Adelaide development is part of that. I also agree that, in the current market (and independently of the insolvency proceedings being under the...

We contacted South Pacific to verify the information posted by Nicola. South Pacific did not say whether a transfer to Sydney is still possible, but, if it is (and it is not excluded as the development company retained the right to administer the company for the time being),the question would...

Ana Danielescu at South Pacific indicated today that there is no transfer offer in relation to Avalon, as they do not yet have permits for the site, which are not expected until August -September 2011. Even then, their strategy will be to find new buyers for Avalon in the first instance and only...

It is difficult to see that your lawyers are "in negotiations" with the developer - the developer has no basis to negotiate as it has no cashflow having not built Adelaide and any payment made would be subject to challenge by the liquidator and will need the approval of the court, as a refund of...

Curiosity Out of curiosity would you happen to be the same Nicola - also resident in Spain -who signed the contracts under a power of attorney organised via MRI?