August 16, 2007 at 5:40 pm #53094
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:
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).
August 16, 2007 at 9:33 pm #74060katyBlocked
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 🙁
August 17, 2007 at 8:37 am #74062
More information about the CHC Case today at “LA VERDAD” newspaper of the Murcia Region.
Lot of workers and suppliers that are not paid….
August 17, 2007 at 10:43 am #74065
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.
August 18, 2007 at 8:18 am #74068
More information today:
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.
August 21, 2007 at 12:36 pm #74125
More information today:
People is joining to take legal actions:
A self-employed worked looking for 12.000 that CHC should pay to him:
CHC was a promising company of the Murcia Region before crashing or making fraud:
August 21, 2007 at 12:59 pm #74127
The debt of the company with workers, suppliers and more could be about 50 million euro:
August 21, 2007 at 1:16 pm #74128PaulBlocked
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.
August 21, 2007 at 1:38 pm #74131
As I know the development ‘Mirador del Alhendin’ continues with its commercial publicity on the web:
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?
February 17, 2008 at 9:21 am #78825
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!
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
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
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
Zayoser Inmovilizado: 305.106
ZZ Varios Alhedin: 897.149
February 17, 2008 at 5:34 pm #78837
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.
February 17, 2008 at 7:17 pm #78839
Every day it seems more likely that the goverment will help the spanish property developers before elections:
Trying to save these companies with the spaniard’s money.
February 17, 2008 at 7:34 pm #78840
If the Spanish government bails out developers with taxpayers’ money (I’m a taxpayer in Spain) my disgust will know no bounds.
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