[Anonymous]

Property developer and civil building developer of the Murcia Region CHC (Conducciones Hidráulicas y Carreteras) is in BankRupt.

Today I have seen it on TV and a lot of suppliers waiting in the door for their money.

I have been looking information in the WEB about this company of my Region and I have seen that they have a resort in Granada in dead Situation.

Is the ‘Mirador de Alhendín’ Resort. A serie of villas about 300.000 euros. They had sold about 40% of the resort but finally they couldn’t find the sufficient bank finance for the project:

http://www.ideal.es/granada/prensa/20070730/local_granada/paran-obras-urbanizacion-lujo_20070730.html

So this 40% means some more british burnned in the spanish sun.

I repeat the same thing again:

Be very careful. Today buying off plan properties is very dangeraous. The property developers have very scarce sells so they struggle with banks to get finance. If not, they leave a property development in a dead point. (Some structures buildt and some british scammed).

[katy]

Thanks for the link, no doubt many purchasers will be tied up in the courts for a long time. Lets hope they had bank guarantees! I think we shall be seeing more of these type of these cases 🙁

[Anonymous]

More information about the CHC Case today at “LA VERDAD” newspaper of the Murcia Region.

Lot of workers and suppliers that are not paid….

http://www.laverdad.es/murcia/prensa/20070817/region_murcia/decenas-acreedores-reclaman-grandes_20070817.html

[Anonymous]

Thanks also for the valuable information. It is interesting to see what is happening with more developers in this region.

Molina de Segura is not very far from Rural Residencial, Campos del Rio, Murcia where I had my fingers burnt.

Very said for the people who have lost their monies. What hope will they have in getting their monies returned. If after 4 years I am still waiting for mine.

Lizi

[Anonymous]

More information today:

http://www.laverdad.es/murcia/prensa/20070818/region_murcia/paraliza-obras-emblematica-playa_20070818.html

CHC has stopped several public infraestructures development for example a improve in the access to the beach of Albufereta in Alicante.

As I have know this company got several public projects financed with European funds FEDER.

[Anonymous]

More information today:

People is joining to take legal actions:

http://www.laverdad.es/murcia/prensa/20070821/region_murcia/acreedores-unen-para-tomar_20070821.html

A self-employed worked looking for 12.000 that CHC should pay to him:

http://www.laverdad.es/murcia/prensa/20070821/region_murcia/perder-sonrisa-peor-puede_20070821.html

CHC was a promising company of the Murcia Region before crashing or making fraud:

http://www.laverdad.es/murcia/prensa/20070821/region_murcia/funcionaba-como-reloj-antes_20070821.html

[Anonymous]

The debt of the company with workers, suppliers and more could be about 50 million euro:

http://www.laverdad.es/murcia/prensa/20070821/region_murcia/importe-deudas-podria-ascender_20070821.html

[Paul]

❓

I’d be interested to know if the development was being marketed just by the Developers, or were there any dodgy estate agents involved, and who?

If so, there should be some recourse against the agents perhaps.

[Anonymous]

As I know the development ‘Mirador del Alhendin’ continues with its commercial publicity on the web:

http://www.miradordealhendin.com

Despite as you can see in the web CHC is in the front of the webpage as one of the developers.

Will continue this development or will go to the limbo meanwhile agents continue to seel to people who dont know nothing about the critical sitiation of CHC?

[Anonymous]

Calculated the total debt left by this bankrupted property developer:

A total of 67,9 millions of euros. Only for one bankrupted spanish developer! Imagine the mess that will cause all the ones that will follow the same way!

http://www.laverdad.es/murcia/20080217/region/juez-cifra-millones-euros-20080217.html

Major debts (More than 500.000 euros):

Agencia Tributaria: 478.645 euros

Antonio Salvatierra, S. L.: 292.924

Arcelor Distribución Andalucía, S.L.: 508.360

Banco de Valencia: 1.669.139

Banco Gallego: 2.188.442

Banco Guipuzcoano: 912.353

Banco Pastor: 11.258.988

Banco Popular: 3.412.213

Banesto: 694.766

Bankinter: 958.201

BBVA: 2.662.468

BSCH: 4.431.339

Caixa Catalunya: 1.395.565

Caja de AH. y M. de P. de Córdoba (Cajasur): 519.108

Caja Madrid: 987.473

Caja Murcia: 2.887.404

Caja Rural Granada: 2.357.956

CAM: 321.486

Cementos Portland Valderrivas: 200.969

Const. Acentejo 2005, S. L.: 766.241

Const. Metálicas Carava, S. L.: 290.261

Desarrollos Empresariales Guadalix: 946.634

Elan Proyectos, S. L.: 184.254

Elecnor, S. A.: 226.521

Estructuras y Ferrallas, S. L.: 227.526

Estructuras y Hormigonados Pérez Saura: 394.283

Firmes y Compact, S. L.: 388.247 euros

González Albarracín Hnos., S. L.: 165.861

Hernán Patricio Granada Cuenca: 234.105

Hierros y Aceros Cortés, S. A.: 258.967

Hormigones Camt, S. L.: 509.019

Hormigones Nevada, S. L.: 336.079

Imersa Andalucía, S. L.: 244.603

Jerezana de Canalizaciones, S. L.: 236.525

La Caixa: 338.707

Lafarge Áridos y Hormigones Sau: 192.068

Mármoles y Granitos Anadina, S. L.: 175.123

Mercantil Mediterránea de Ferrallados: 782.845

Metálicas Aljusan, S. L.: 188.978

Movimientos de Tierras Ferrer, S. L.: 341.921

Obras y Excavaciones Fortunas: 281.960

Pavesur Derivados, S. A.: 243.880

Renato Ramírez Estudio de Arqu: 243.418

Tecnologías Digitales Audiovisuales: 1.687.223

Transportes y Excavaciones Mar Menor: 198.909

Visogsa: 439.321

Zayoser Inmovilizado: 305.106

ZZ Varios Alhedin: 897.149

[Anonymous]

ManuelYo tengo una empresa de alquiler de retroexcavadoras y no hay manera de que la gente de Polaris World me ingrese unos 60.000 euros que me deben. No hacen nada más que darme largas. Me temo lo peor.

A reply on the forum of the newspaper, tis guy is worried that he will not get 60,000 euros that he is owed by POLARIS WORLD. They just tell tell him stories when he asks for his money.

[Anonymous]

Every day it seems more likely that the goverment will help the spanish property developers before elections:

http://www.eleconomista.es/economia/noticias/365814/02/08/El-Gobierno-facilitara-la-financiacion-a-los-promotores-antes-de-las-elecciones.html

Trying to save these companies with the spaniard’s money.

[Anonymous]

If the Spanish government bails out developers with taxpayers’ money (I’m a taxpayer in Spain) my disgust will know no bounds.

Mark

[Author]

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