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Patt

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Posts posted by Patt

  1. On 1/31/2020 at 2:37 PM, Davidwhite said:

    I received a telephone call from the Escrow agents.

    The gist of it was they are also in the dark about the current development.

    They have been told by Terra Firma that a communication will be sent out in a week or two.

    The main problem seems to be that Terra Firma based their forecasts on prices before the Financial crash and are now struggling to honour them.

    The basic infrastructure is in place and a few properties are complete with some sales completed.

    The golf course is half complete which seems to be the main influence for generating sales, I think this has been taken on by a German consortium so should eventually get completed.

    The worst case scenario is that Terra Firma announce they are going into administration. If this happens then the LLC members become creditors for any settlement payments. The agents would then work on the members behalf and advise on our options.

    We'll just have to wait on the Tera Firma announcement, if it ever comes, but a least  I've had some contact. 

    Any straw is worth grasping, I'll keep posting if any news.

     

    David

    What was the number you called David?  I would like to contact them myself and see what else I can find out?

  2. Hi everyone,

     

    All hope was lost a few years back as my communications from the escrow account went silent 2 years back.  Then I got sent an email asking for the annual 1% fee, that I have not paid, so I started investigating again.  I too am in the same position as you all but I invested in 2012 expecting a payout in 2014.  Then all the story's and set backs came and now I don't even know whats going on.  

    Last week I came across this forum with a little hope and instead of adding I wrote to the link David added but with one week in-between Ive received no reply. I returned to this forum and the messages have got more...  Can anyone who has made contact please put the details on here.  I think the moire we can get involved the better things can be the faster we can learn of the problem.

    Best

    Patrick

  3. Hi everyone,

     

    All hope was lost a few years back as my communications from the escrow account went silent 2 years back.  Then I got sent an email asking for the annual 1% fee, that I have not paid, so I started investigating again.  I too am in the same position as you all but I invested in 2012 expecting a payout in 2014.  Then all the story's and set backs came and now I don't even know whats going on.  

    Last week I came across this forum with a little hope and instead of adding I wrote to the link David added but with one week in-between Ive received no reply. I returned to this forum and the messages have got more...  Can anyone who has made contact please put the details on here.  I think the moire we can get involved the better things can be the faster we can learn of the problem.

    Best

    Patrick

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