Jacques Cousteau Complex, Natal - What's going on!!!

Discussion in 'Brazil Property' started by jamcarter, Jun 13, 2011.

  1. jamcarter

    jamcarter New Member

    Does anybody have any information on the current situation of the Jacques Cousteau Complex in Natal. I purchased an appartment in one of the Towers in 2007, where I parted with 40%. Luckily for me, when they asked for the remaining balance 6 months later, I held of making this payment. Shortly after, I was advised by my so called independent solicitor, that the developers had been arrested for some kind of money laundering/fraud, and that the build had been put on hold. Almost 4 years later, I am still none the wiser of my current investment standing, and when I can finally get in contact with my Brazilizn solicitor, I am being told 'it's going through the courts, and we should hear soon'. I have been told this now for over 2 years.

    Any advice, recommenations would be much appreciated.
  2. growler

    growler New Member

    I don't know anything about this project but it is not uncommon for legal actions in Brazil to take 2 or 3 years to resolve.
  3. jamcarter

    jamcarter New Member

    Many thanks, fingers crossed something will come to light soon...
  4. JMBroad

    JMBroad New Member

    Don't know anything about the legalities of the development but I drive past it a couple of times a week and haven't seen any visible changes in the construction for the past two and a half years more or less.

    Sorry. :(
  5. jamcarter

    jamcarter New Member

    No worries, it's good to know that it hasn't been bulldozed. Do you know what the actual stage of the build they have reached. My appartment was supposed to be in the first of the two towers, and when I was there in July 2007, the foundations were in place, and they were about 10 storeys if I'm not mistaken...
  6. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    Court cases in Brazil can take EASILY 3-5 years, some a lot longer.
  7. jamcarter

    jamcarter New Member

    Ouch.... Do you reckon I will ever see my money again???
  8. Norbert

    Norbert Senior Member <br /><img src="http://img.propertyc

    It all depends whom you're dealing with. The delays are not always due to incompetence, or unwillingness, but rather to bureaucracy. the courts have huge delays - an occassional strike does not help to deal with back-logs.
    Other countries I have lived and worked are much worse than Brazil.
    I suggest you try and mobilize other buyers, form a Owners Association, and find a good lawyer. NOT one that is 'recommended' by the developer or the estate agent. Often Consulates can give you a list with Law Firms that have English speaking lawyers employed.
    When you have the Process number of the Tribunal, lawyers can check where they are.
    Remember, negative publicity is NOT good for Brazil. You may want to contact the Consulate General in your country, and make an appointment with the Secretary in charge of Commerce. They should be willing to help, if only to control the damage.
    If worse comes to worse, talk to the press!

    Good luck!
  9. skipk1

    skipk1 New Member

    jam, have you heard anything else regarding the property

    I too am in the dark regarding the status of the Jacques Cousteau Towers, I have invested in two units and getting no answers
  10. jamcarter

    jamcarter New Member

    Did you pay the full amount for them, or just the initial 40%?
  11. skipk1

    skipk1 New Member

    Jacques Cousteau / White Sands Towers

    pd in full........any word or contacts?
  12. jamcarter

    jamcarter New Member

    I'm on the case myself at the moment, so I will keep you posted.
  13. mikesmith

    mikesmith New Member

    You may want to reach a guy called Russell Messenger.He is the owner of the "Carambar"in P.Negra and dabbles in realestate in Natal.He mentioned to me a while back(few months ago)that he was working with a consortium to buy out the current developers of the towers.He may prove a useful source of information?
    Good luck!Mike
  14. JMBroad

    JMBroad New Member

    The Jacques Costeau development has been rebranded and relaunched - not sure who the people are behind it or if Russel is involved.

    As Rob mentioned, it is now called White Sands Towers and can be found on numerous property websites on the internet.

    Good luck
  15. eco

    eco New Member

    Jacques Cousteau or White Sands

    Dear friend

    The last information is the new investements are out , and can be again Jacques Cousteau . So sorry , Everybody are very tired with this matter ...
  16. DTC

    DTC New Member

  17. woodyket

    woodyket New Member

    Can someone tell me if construction has begun again on these towers?
  18. sven

    sven New Member

    I'd urge you to get a lawyer, one actually contracted by you, to look into the situation.
  19. sven

    sven New Member

    Of course, but it takes time. One should be careful when investing in shady deals in Brazil. Court cases take time.

    By the way, there is no such thing in Brazilian justice as a "legal precedent". Although decisions on the issues have been pacific by the STJ, a lower judge is in no way bound by these decicions. Each and every case has to be decided individually.

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