apropertyinvestingParticipant@apropertyinvestingJoin Date: 2015Post Count: 2
Hi Steve and all,
Eddie and Maricel Pamilar here, do you have a litigator in QLD (Gold Coast or Brisbane area) or your network has someone to recommend. We desperately need one as the builder company that we placed our investment via loan agreement (thru our trust) served us a letter to write-off our investment.
We are just normally employees and we can’t afford to lose our life savings, home and future of our children.
Thank you and kind regards,
Eddie & Maricel PamilarDelta Strategic HoldingsParticipant@delta82Join Date: 2015Post Count: 7
I’m sorry to hear that.
I’m a bit confused on what product you invested In but as I understand it you did not take direct 100% ownership through your trust rather invested in fractional or syndicated ownership?
Was there a PDS or an IM and an application or was it a Contract of Sale with a S32?
HWL Ebsworth Lawyers would be my recommendation for legal representation. They won’t be cheap but also not the most expensive. Try and get am unemotional idea of how strong your case is as lawyers are no different to real estate agents, it’s all good at the start and then as you get closer to the big dance auction/court case they start conditioning you on how good your home/case is.
Best of luck hope you can get some funds back and live to fight another day.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,190
Sounds like the caused their trust to lend money to a building company. Eddie – the trustee have security for the loan, any personal guarantees? It is highly likely you will lose the lot, if no security, so be careful will spending big on lawyers.
You can try http://www.certuslegal.com.au/RedwoodParticipant@redwoodJoin Date: 2013Post Count: 340
Further to Terrys email you can also try Jeremy Gordon – he is based in Brissy, he is an independent barrister and is reasonable. Always there to assist me. I believe he is now back from the UK so you can hit him up.
Cheers IvanapropertyinvestingParticipant@apropertyinvestingJoin Date: 2015Post Count: 2
Thanks for your responses. We will look into these names that you recommended.PeteParticipant@pjewittJoin Date: 2015Post Count: 50
Was a loan agreement the only paperwork written up? I’m curious as to how your investment was structured. I invest with a local developer here in Adelaide with a similar sounding setup. I sign a loan agreement for the development, but also have a caveat over the property. Is this something similar? For my own interest, what’s the company’s reason for writing off your investment? I’ve had no issues with investing with my developer so far, but it’d be good to know what “can” happen.
Sorry to hear of your situation.