Jump to content
House Price Crash Forum


New Members
  • Posts

  • Joined

  • Last visited

About amarula66

  • Rank
  1. Hi All, I submitted nearly 3 months ago, still haven't been accepted. There have been no new members added during May, but have been 12 posts. It would be good to get accepted, so one can see what is happening, as this site is all but dead.
  2. Hi All, Here is the latest situation that I have in relation to an email that I sent to HBS, answers high-lighted in yellow ... As an investor in the above, HBS are obviously aware of the sad passing of Bradley Marr, who was President of TDFC. We were promised further updates as to what is likely to happen next with the FLCC project, but these have not been forthcoming and all other lines of communication appear to be cut off, including the online investors relation form where it states that a reply will be forthcoming in one working day. I and many others have used this form and no replies have been received. We are aware that TFDC is currently advising its purchasers that it is unable to respond to emails and that an update will be forthcoming shortly. Whilst we sympathise with your frustrations, at the moment AVCS is in a similar position to the LLC Members, in that they are awaiting a further update from TFDC in regards to their future intentions. I hear that TDFC the development company has apparently gone into liquidation and that, HBS are still collecting the annual fee for and on behalf of AV Corporate Services Ltd for the Services Agreement. As an investor, perhaps you can answer the following ... why I am still being asked to pay the annual fee? what kind of return am I likely to see on my investment, if any? As far as we understand TFDC is still an active entity in that it has not officially entered in to Administration or liquidation and we like yourself are awaiting news on this matter. Until such time as clarification is received it would be wrong for the Manager to hypothecate on what the future holds and how the original investment would be affected. That said, the LLC of which you are a Member holds title to a plot of land and, in the event of Terra Firma Development Corporation (TFDC) failing to deliver on the project, the LLC’s right to the land it holds is not affected. The LLC also has the additional asset of the Loan. However, the major issues that could adversely affect the land title are the LLCs not being in good standing (including the taxes and fees related thereto) and/or the annual land taxes not being paid. In respect of the Annual fees, these are used to pay the relevant disbursements, taxes and fees for maintaining the LLC´s in good standing, duties for which are carried out diligently, paying all corresponding fees and taxes on behalf of the LLC Members and this is on public records. That said, should these disbursements, taxes and fees not be paid this will lead to the LLC falling into a situation of default and a potential scenario of repossession of the land by the Authorities/Government Agencies. To date there have been sufficient Members paying to cover the fixed disbursements such as agent fees, taxes, legal and other sundry costs, as well as indeed the Manager own time in dealing with the Members of 32 LLC’s. Hypothetically a situation could arise where the Manager may not have sufficient funds to cover the cost of running the LLC’s, in which case the Manager would find itself in a position where it may have to consider if it should continue or not as Manager. In a hypothetical case of there being insufficient funds, this could also lead the LLC to potentially being struck-off in the State of Delaware (non-payment of State Taxes/Agent Fees) or having the land it holds repossessed in Canada by the Municipality of West Hants, or the State. As a Land Unit Investor, AVCS the Manager of my Delaware Limited Liability Company (LLC), of which I am a Member, was advised of the passing of Bradley Marr back in November of last year, and I would of thought that, AVCS must have further information that they can put out to investors. In regards to the passing of Mr. Bradley Marr please note that HBS was notified at the same time as the Manager and the LLC Member. Again until we receive further clarifications from TFDC on the current situation, we are unable to make any detailed comment on the implications of Mr. Marr’s passing.
  3. Info on the Trustee Company that might help - Should the acquisition of the relevant parcels of land not proceed for any reason after the Development Company (TFDC) has been formed, the Company has agreed to return all funds already received by way of an advance, the trustees will arrange for the Company to be dissolved and refund members the balance held in escrow on behalf of the Company in proportion to the original contributions. Hope this helps.
  4. Has anyone got any idea why is it taking so long to be accepted into the FLCC duped investors group? so far it's been over 2 weeks.
  5. [email protected] This is what I wrote in Feb - As an investor in the above and the two updates that TFDC have sent out following the sad passing of Bradley Marr we were promised a further update in December of 2019, which has not been forthcoming and all lines of communication appear to be cut off, including the online investors relation form where it states that a reply will be forthcoming in one working day. I and many others have used this form and no reply has been received by anyone. I simply want to ask you to please kindly provide us, your investors, with an update as to what the likely outcome is going to be. Many thanks.
  6. Hi - I have emailed TFDC three times now and no response. We were supposed to of had an update late December, that didn't happen, also reading some of the messages on here, we should of had an update late January, again nothing. It doesn't look good. Have you been accepted to the group yet? I am still waiting.
  7. Hi Rocky, I submitted to join the group 4 days ago, but am still waiting for a reply. How long do I have to wait?
  8. Hi All, I am UK based and bought parcels of land in the Forest Lakes opportuntity in 2011 through a specialist property company who were agents for Landcorps international who were the worldwide sales agent for Terra Firma. I too have used the investor relations form recently and have had no answer. I have also emailed a contact that I had with Landcorps and have exchanged emails in the past, but am not getting any response now. Investment security - This is what we are all concerned about now, and this how it has been put to me in the past, as our investments are held in a separate Barclays bank account named an Escrow Account managed by the Escrow Agent, under English Law, the money in an Escrow Account is protected and legally acknowledged that the funds belong to clients and not to the company managing it.The Funds are protected from creditors and would be returned to us without claim in the event the company managing the funds went into liquidation. The investment is secured by a title deed within the development.and 100% of the value of the investment is covered by Title Insurance. Engel and Volckers - are the equivalent to Savills and Knight Frank in the UK, all were selling land plots. It's interesting, for at first glance, it looks as if Engel and Volckers have reset themselves up as a sort of Compensation organisation, or something similar. I am going to email the vice president of TFDC later this week if I can locate his email address and ask for an update. I will post any reply that I may get here. With kind regards Robert
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.