Happy New Year everyone.
None of this looks very good for all of us investors.
Turtle, I took your advice about offering to sell my apartment back to Grupo Mall for the original purchase price on the basis that they stood to make a substantial profit, if Senor Noval was to be believed in his recent article where he claimed that during November / December 08 they'd sold another 30 units at the inflated price. They did get back to me a few weeks ago and said they'd respond shortly but I haven't heard anything from them since and certainly won't hold my breath.
I am just wondering what all this recent information about the pending legal action means for all of us that have invested money in the project. I took advice from my solicitor about pulling out now and was advised that although the contract states that 50% of deposits should be returned, there is no timescale for the return of the deposits. When I asked about launching an action for breach of contract after the expiration of the grace period, my solicitor felt that a further few months would have to pass - if not longer before any such action would have a chance of success. I personally feel pretty stymied and am wondering if anyone else has had similar or different advice?