It amazes me how helpful everyone have been. It is however too bad that so few people who have actually invested in the project have written here. I guess you are right that the developer is trying to offer a bad deal by settling things out of court, because they know that there is a risk that they might end up paying more otherwise.Hi
Take a look at a decision rendered by Natal's Court. The judge awarded immediate payment of rentals as an injunction. The developer appealed based on force majore and this is the decision:
Origin: 9th Circuit Court of the District of Natal.
DIGEST: CIVIL LAW. REVIEW OF CONTRACTUAL CLAUSE ACTION C/C. INTERLOCUTORY APPEAL. THAT DECISION DETERMINED THE PAYMENT OF RENTALS IN FAVOR OF COMPOUNDED DUE TO THE DELAY IN THE DELIVERY OF THE PROPERTY. POSSIBILITY. DELIVERY PERIOD of the PROPERTY that EXCEEDS 24 (twenty-four) MONTHS. HEAVY RAINS CLAIM AND THE GLOBAL ECONOMIC CRISIS. LACK OF SUITABILITY AND REASONABLENESS.DECISION MAINTAINED. FEATURE KNOWN AND DENIED.
Natal-RN, December 15, 2011.
Judge AMAURY MOURA NEPHEW
If there were people willing to go against the developer together, it might be a good idea to hire a lawyer, but I think it will be too exhausting to go at it alone. I will however write to the lawyer you recommended before making any conclusions on my own. I read in another thread that compensation for delays are usually calculated like this:
PLUS (+) standard juridical 0, 5% interest a month
PLUS (+) inflation correction.
Calculated from the date (year/month) they promised delivery.
Along with the promised rental returns, it would mean a lot of money for me, as I purchased several units in the project.