Ochando Golf

I know you are aware of the ochando Golf/ Plus Advisors/ IAP Global problem with regard to bank guarantees. I, like others have been trying to obtain one for some time. I was also initially asked to extend my contract in return for one. In fact that never happened and as of last week, we have been informed by Plus Advisors that the development has been stopped. We are going to be approached by the developer to swap to another property altogether. This I do not wish to do and want my deposit back. The developer on the contract is a consortium called Ochando S.A.. I am not sure of their asset situation but the main developer is Torrevisa S.A. a large developer as you may know. I do have a copy of the aval for 6.8 million euro with Bank of Valencia which is for all of the deposits, I am not sure how helpful that is. Now that the timeframe to october 30th no longer applies, where do I now stand please. I do not wish to waste unecessary time but need to understand the chances/ costs of course. Many kind regards.

Dear Sir/Madam,

We've received other queries on this development.

Our view until a week ago was that it was yet too soon to pull out and litigate successfully demanding a refund on the deposits.

This may have changed now.

I suggest you contact us on this matter.