The developer, Larios 2000, whose only administrator is G.M.C., reported that works had been paralysed due to the fact that their financing entity discontinued payments as a consequence of a judicial decree handed down in September 2004 in Melilla.
In view of these events, one of the purchasers in Jardín Tropical has decided to claim his money back plus the appropriate legal interest through the law firm Lawbird Legal Services.
The repayment of these quantities will cause serious problems for Larios 2000 S.L. since the developer did not have the appropriate bank guarantee although he did pretend to have one by handing out a guarantee issued by a bogus company called Compagnie des Garanties de Luxembourg, a company unauthorised by the General Insurance Board of Directors.
Devwatch are now asking all those who are in the same situation to claim back their money from the developer since this recent course of events has suggested that the development will never be reinitiated.
