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marksmith33

Forest Lakes, Nova Scotia, Canada

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Hi,

is anyone else on the site invested in Forest Lakes through Terra Firma? It seems since the death of majority shareholder Bradley Marr, and other ‘severe setbacks’, things are very much up in the air. Surely investments can’t be lost due to the death of a shareholder? There must need to be other contingencies in place I’d have thought?

Anyway, let me know if anyone else has any dealings with the location, or the Terra Firma company. 

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Hi 

I have been an investor sine 2007/2008 and i have been waiting for my investment returns since then, the forest lakes sites is up and running,golf course active and people living there ,i invested in the scheme for my retirement  which i now am in and i need that return i can see no reason why the company does not pay there long suffering investors .Th e lack of relevant information is very shabby  and i am sure there are many people in the same situation,i would be grateful if anyone has any up.to dat e information,and  its high time that the press got to know of this and could maybe get answers as to what is happening as the forest lakes people do not seem to be communicating,i want my money which they have had for far to many years

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Anthony

I am in exactly the same boat as you, I also invested back in 2007/8 and have not been able to get any communication over the last month. I am also just reaching retirement.

I have found this contact form which I have just sent, it promises a reply within 1 working day: .https://forestlakescountryclub.ca/investor-relations-contact-form/.

I'm not holding my breath but you never know.

Good luck

 

David

 

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Likewise.

Do you know what is happening in Canada...I just tried to dial the sales line and the line seems to be disconnected!?

And we are still being asked for money to be paid into the escrow account

Have you found out anything else?

 

Allan

 

 

 

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Hi David,

Sorry to hear you are having the same problems, i hope you do get a reply buti have had little or no luck form them.

Have you had any communications from the escro agents, it seems that alot of people ,me included have not been paying there charges, i have written back to them in the hope that they can get some information,they did say that terra firma would give an update soon.

all the best and keep posting if you hear anything ,i will do the same

all the best 

Anthony

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Anthony,

Here is an extract of an email I sent to the agents. I'll let you know if I hear anything.

David

With reference to the above investments we hold I would be grateful if you can advise the current situation with Terra Firma.

 
They have cut all communication with investors and just give automated replies that ' updates will be sent'.
 
I understand they have severe cashflow problems but the lack of communication is unacceptable. I imagine a chapter 11 filing and  administration is the inevitable outcome.
 
I would be grateful if you have any contact from Terra Firma or can provide any updated information.
 
I would also be obliged if you can let me know where we stand with regard to the 1% Annual fee being charged.This appears to be becoming a meaningless charge if there is no prospect of a return on our investment.
 
I look forward to you reply
 
David & Claire White
 

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Anthony,

Here is an extract of an email I sent to the agents. I'll let you know if I hear anything.

David

With reference to the above investments we hold I would be grateful if you can advise the current situation with Terra Firma.

 
They have cut all communication with investors and just give automated replies that ' updates will be sent'.
 
I understand they have severe cashflow problems but the lack of communication is unacceptable. I imagine a chapter 11 filing and  administration is the inevitable outcome.
 
I would be grateful if you have any contact from Terra Firma or can provide any updated information.
 
I would also be obliged if you can let me know where we stand with regard to the 1% Annual fee being charged.This appears to be becoming a meaningless charge if there is no prospect of a return on our investment.
 
I look forward to you reply
 
David & Claire White
 
I've attached their reply below
 

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Hi David,

Sorry to hear you are having the same problems, i hope you do get a reply buti have had little or no luck form them.

Have you had any communications from the escro agents, it seems that alot of people ,me included have not been paying there charges, i have written back to them in the hope that they can get some information,they did say that terra firma would give an update soon.

all the best and keep posting if you hear anything ,i will do the same

all the best 

Anthony

hi David ,

Thank you for the update,at least you have got through to somebody,a very good letter,I could not see the attached reply they sent you, i have no further news as yet,could you attach the reply again

regards

Anthony

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On 1/23/2020 at 3:27 PM, Allan Freeman said:

Likewise.

Do you know what is happening in Canada...I just tried to dial the sales line and the line seems to be disconnected!?

And we are still being asked for money to be paid into the escrow account

Have you found out anything else?

 

Allan

 

 

 

HI Allan,

Good to see more people getting interested ,i think the more people we can get on boardthe better,i have no further updates as yet ,but just keep an eye on the board,David has posted today.

all thebestAnthony

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On 1/29/2020 at 8:07 PM, Davidwhite said:

Here is the letter I got back from AV corporation Services

Hi David,

i still cant see your reply,i am expecting a call from them soon so hopefully  get some answers,what was the general  feeling you got from there reply

Anthonya

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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

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On 1/29/2020 at 8:07 PM, Davidwhite said:

Here is the letter I got back from AV corporation Services

Hi David,

i still cant see your reply,i am expecting a call from them soon so hopefully  get some answers,what was the general  feeling you got from there reply

Anthonya

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Hi David,

Thanks for that ,very interesting,i am sure my phone call will be very similar, we can only wait for Terra Firma to announce something with some good or at least not bad news for investors.

all the best 

Anthony

 

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Hi all,

I too invested back in 2007/8 and in the same position as yourselves. I invested in land and was expecting my returns years ago. I have had no contact with TFDC since November 2019. I am glad I found this forum as I have never found any other investor to share comms/ideas etc with. Lets keep this line of communication going so we can all update each other. At least I know TFDC will be communicating soon to their investors. We need to know what happens if they do go into administration and what our options our. I just want my initial investment back now. Any way, I am constantly trying to contact someone at TFDC or Forest lakes so if I hear anything I will post here.
Thanks

Rick

 

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9 minutes ago, RockyBl said:

Hi all,

I too invested back in 2007/8 and in the same position as yourselves. I invested in land and was expecting my returns years ago. I have had no contact with TFDC since November 2019. I am glad I found this forum as I have never found any other investor to share comms/ideas etc with. Lets keep this line of communication going so we can all update each other. At least I know TFDC will be communicating soon to their investors. We need to know what happens if they do go into administration and what our options our. I just want my initial investment back now. Any way, I am constantly trying to contact someone at TFDC or Forest lakes so if I hear anything I will post here.
Thanks

Rick

Hi Rick

It looks like we are all in the same boat, good to know more people are involved,hopefully we will get some updates soon

all the best

Anthony

Hi David,

Thanks for that ,very interesting,i am sure my phone call will be very similar, we can only wait for Terra Firma to announce something with some good or at least not bad news for investors.

all the best 

Anthony

 

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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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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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17 hours ago, RockyBl said:

Hi all,

I too invested back in 2007/8 and in the same position as yourselves. I invested in land and was expecting my returns years ago. I have had no contact with TFDC since November 2019. I am glad I found this forum as I have never found any other investor to share comms/ideas etc with. Lets keep this line of communication going so we can all update each other. At least I know TFDC will be communicating soon to their investors. We need to know what happens if they do go into administration and what our options our. I just want my initial investment back now. Any way, I am constantly trying to contact someone at TFDC or Forest lakes so if I hear anything I will post here.
Thanks

Rick

Hi Rick

It looks like we are all in the same boat, good to know more people are involved,hopefully we will get some updates soon

all the best

Anthony

Hi David,

Thanks for that ,very interesting,i am sure my phone call will be very similar, we can only wait for Terra Firma to announce something with some good or at least not bad news for investors.

all the best 

Anthony

 

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Anthony,

This looks very interesting at first glance and could be a possible option to persue.

I would be wary though that this might just be an opportunistic lawyer who has picked up on the current situation.

I'd be inclined to take advice from  the Escrow agents, they did assure me that if TFDC do go into liquidation they would be there for investors to explain our options. If you get the call from them it might be worth mentioning this article.

Keep hoping.

David

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Thank you for sharing that. It does appear to be genuine but you never know. It looks like a complicated state of affairs. How many investors have we got on this thread? I would interested to know what exactly you all invested in. Did you purchase land units (i purchased half an acre) or did you purchase an off plan property? Are you based in England like me or elsewhere? We should try to reach out to others if we can. There was a facebook page called duped forest lakes investors or something like that but it has been removed. There were a few people using that but now its lost. Anyway, lets keep sharing

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  • 315 Brexit, House prices and Summer 2020

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