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Forest Lakes, Nova Scotia, Canada


marksmith33
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On 3/9/2020 at 7:11 AM, noblelite said:

Has anyone got anywhere I’m trying to contact the companies involved with this?

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.

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2 hours ago, noblelite said:

Still not accepted. Can you post the email address for TFDC so I can also try. I thought money in an escrow was protected. Really distressed about the whole situation and don’t know what else to try. 

[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.
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On 3/12/2020 at 4:05 PM, amarula66 said:

[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.

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.

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I am very pleased to have found this forum. I too invested in the beginning. I have ceased paying my annual fees. Pointless now. I was advised by Martin McBride.( customer rep) The escrew people sent me a threatening e-mail which I ignores.  He too has now gone silent. I do not hold out much hope of ever seeing any money back from from this FAILED  enterprise. It is good to share these grievenses. All I can offer is good luck.

I am based in Ireland, and bought  half an acre initially, then foolishly added to my 'investment' when I was offered a Guarantee of some false percentage return. All rubbish. I too expected to receive my repayments years ago. 

Alistair.

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In light of what is going on in the world now, the money we have all invested seems somewhat irrelevant, but it would be nice to know at the end of all this that there is some hope of getting our money back, or even an explanation as to what has happened, and where it leaves us.

Stay safe everyone, there's better times ahead!

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  • 2 weeks later...

Hi All

So glad to have found this thread after years of feeling "alone" in all of this.

Im based in the UK, Portsmouth. I too invested in half an acre back in 2007 for £12880 through Landcorp International, a friends cousin worked there so felt safe.

I'm in the same boat as everyone else on here, not had any updates etc. Been paying my 1% fee every year since the beginning but I won't be paying this year.

All I want back is my original investment! Not on FB or any social media so any updates on here would be brilliant, this is my only hope! 

Anthony

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Yes we invested back in 2010 in a half acre plot. With no information now coming out of Canada and very low rent emails from AVC, whose website gives no indication of their history or location and no one steering what should be a pucka multi million C$ project, we have mentally written this off but remain keen to see any form of return through or at least the perpetrator brough to book. I applied to join the FB group but like others, this seems to have stalled. Not sure who the admin is but it would be handy to have such a group. Any ideas?

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For those interested. This week a relative of mine went to the Forest Lakes site to investigate. The entrance had barriers over i, but decided to venture in a and see what was happening. The clubhouse is built but with no sign of life, the golf course the same, and the roads are all built and have signage. There are also numerous homes completed, many with sold signs outside and the realtors contact details (Larry Allen - 001 902 430 7197), but they have no formal tie to TDFC. They do however have some property on their website that advertises property on the estate.http://larryallenrealestate.com/details/Nova-Scotia/Ardoise/240-Eagle-View-Drive/201909795/?id=21763885 I have emailed him to see if there is any further insight he can offer, but still await a reply from 2 days ago..

There were many houses that look to be owned (barbecues etc. outside), but all but one were vacant at the time. Knocking and speaking to that owner confirmed that TDFC has gone into liquidation, but he mentioned a German company was still developing. All I have is that the guy running it is called Ralph (hardly a lead I know).

Whether the site is closed due to Coronavirus I'm unclear, but as soon as it's over, my family will be doing another visit. 

Surely someone must know what our legal rights are, whether the money is lost, or if it's just a waiting game.

I understand that money investments can go bad, but when the money is invested into land, surely there is a claim to something?

 

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I'm glad I have found this forum I too bought land units1 acre for just under £25k back in 2007. 

I ignored my gut instinct on this as I did lots of research at the time before I invested, I had a solicitor look over all the paperwork, I found that the Marr brothers were known in Spain and had pasts with previous dodgy investments, the trustee company at the time (it's since changed) was a newly set up company as was Terra Firma and their offices in Canada were serviced offices so alarm bells rang. But I checked with Canada land registry and they owned the land and in their blurb about the development they mentioned the architects so I rang their offices and asked if they were working on the FLCC development and they confirmed they were so I weighted it up and as they owned the land and had architects I took the risk.  I always had in the back of my mind it was a scam but when Savills started marketing it in UK I thought it was illegit.

I should have asked at the time of investment but about 6 years ago I found out from Martin McBride Land Corp Spain I was no. 208 in the queue to get my return.  I remember the conditions to getting your investment back was they had to have $1M in the bank to paid out so would need to be $208,000,000 in the bank for me to get paid out so realised it was a bad investment with no chance of a return. So I contacted Martin to swap my land units for land as thought at least could build a house on the land as wasn't going to get my money back but they wanted another £50k so I declined!  I stopped paying the trustees the yearly charge about 5 years ago as felt was throwing good money after bad.

Unfortunately now especially with Covid 19 the chances of someone buying the development with all its debts is probably unlikely.

If we come together as a group rather than one voice we will have more power.  Does anyone have a copy of the contract or the original information about the Trustees company?  Someone mentioned monies being safe in a Barclays account although from memory i thought it said they could use our money to fund the development. I remember seeing an electronic copy of the contract but didnt print off a copy and all I remember signing was a 2 page document which I scanned back and transferred the money by bank transfer.  All I have is a certificate with the land units on it!  What an idiot i was taking risks with my money and with just a piece of paper to show for it!  

 

 

 

 

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22 hours ago, Ahlam Mohammed said:

Hello, 

I received the letter too.

I have been paying the fees.

I have attached a grouping list, just wondering if it helps.

My exit strategy is supposed to be 2020 and 2021.

Keep safe,

Anticipated exist strategy 2020+2021.png

Where did you get this grouping list and when did you get it? I’ve always paid my fees but I’m unclear what number LLC I’m in or when my exit time was. I’ve given up listening to what my supposed date was. I invested in 2009. 

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  • 2 weeks later...

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.

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On 2/2/2020 at 5:47 PM, Anthony Goldby said:

Hi ,

I have 1.5 acres  land units  bought between 2008 & 2010 both through Citadel  and i live in the midlands   not always sunny but it has its moments.

hope we can all come out of this well.

Anthony

 

 

Hi 

I am Flo, based in London and I have also invested in 2008 for half acre.

Thanks

Flo

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Hello Everybody,

I am an investor in Forest Lakes too - initially as land credits in the LLC and then added more money 3 years ago to covert to a title plot which could then be sold. I have heard nothing from Terra Firma for a while. Does anyone know the latest please? 

Do we need to get organised and get lawyers involved? If a German consortium has invested then that must be good news of sorts?

Would be grateful if anyone has any ideas of how we find out latest situation and get some professional advice on what our options are.

 

 

 

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On 5/4/2020 at 12:08 PM, Navita said:

Hello Everybody,

I am an investor in Forest Lakes too - initially as land credits in the LLC and then added more money 3 years ago to covert to a title plot which could then be sold. I have heard nothing from Terra Firma for a while. Does anyone know the latest please? 

Do we need to get organised and get lawyers involved? If a German consortium has invested then that must be good news of sorts?

Would be grateful if anyone has any ideas of how we find out latest situation and get some professional advice on what our options are.

 

 

 

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.
 
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image.png.6e5dc2eca24494abc12cd88f35ca86e9.png

On 5/11/2020 at 2:06 PM, amarula66 said:

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.
 

Than

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  • 3 weeks later...
13 hours ago, Rickc said:

Hi Everyone,

I submitted a request to the facebook group a few days ago with my mothers account but it is still pending, is the group still active ?

Regards

Rick

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.

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