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East Coast Residence - Bogaz

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sirbasil


Joined: 28/05/2009
Posts: 4

Message Posted:
28/05/2009 16:45

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Message 1 of 37 in Discussion

This is a hope really, after investing a significant amount of cash in the "East Coast Development" apartments in Bogaz, building work has come to a halt and apparently the 2 partners of the builders (C&T Construction) have parted company. I wondered if anyone knows anything about this or/and are in a similar position to myself.

Thanks in advance



mikea11


Joined: 15/06/2008
Posts: 254

Message Posted:
29/05/2009 09:38

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Message 2 of 37 in Discussion

Have you tried posting on http://www.bogaz.info



sirbasil


Joined: 28/05/2009
Posts: 4

Message Posted:
01/06/2009 11:54

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Message 3 of 37 in Discussion

Thanks - i will give that a try



Straybearx



Joined: 08/03/2007
Posts: 121

Message Posted:
12/07/2009 23:38

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Message 4 of 37 in Discussion

Hi sirbasil,

We put a substantial deposit down on an apartment there. Yes the partners have fallen out and the site has been frozen by the courts as there is a 200,000 loan outstanding on the site. Tekan one of the partners has offered to swap the original deposits onto similar properties he has finished in alsancak. We were out there 3 weeks ago and were not impressed, decided to cut our losses and will rent until we find a suitable resale. If you want to know the email addresses of other people who placed deposits I can forward them to you.



sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
13/07/2009 09:29

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Message 5 of 37 in Discussion

we paid a deposit for an apartment in Eastcoast too,went over about 6 wks ago to see what they were offering in exchange in Alsancak,was not impressed i'm afraid,overpriced and the finishes in communal areas was really poor!We bought a 3 bed apartment off another developer,far better quality and 10k less!We wont hold our breath for Eastcoast to be finished.



airbag


Joined: 21/06/2008
Posts: 50

Message Posted:
13/07/2009 12:04

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Message 6 of 37 in Discussion

In same situation, cannot afford the alternatives as they are more expensive, cannot afford to lose deposit either?!



sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
13/07/2009 12:37

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Message 7 of 37 in Discussion

i wasnt prepared to lose deposit,i will still take delivery of the apartment if and when its ever finished! i just wasnt prepared to wait any longer for a holiday home there. its unfortunate because the site will be a really nice place when finished.



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
09/09/2009 18:09

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Message 8 of 37 in Discussion

We are in same position and I am not prepared to lose my deposit or to take an alternative place. Does anybody have any other news about these places? Could we take jint legal advice do you think? I'd be interested in contacting others.



Franmac


Joined: 14/09/2009
Posts: 3

Message Posted:
15/09/2009 00:09

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Message 9 of 37 in Discussion

We are in the same position, have visited and agree the alternative is overpriced. We have decided to ask our solicitor to take legal action to recover our deposit. We have been advised that "class actions" ie groups combining together to take legal action is not allowed in northern Cyprus so we will all have to do this independently if that is how we want to proceed. Our solicitor seemed fairly positive that we would be successful but did say this could take a long time and although we may lose some cash, we really do feel uncomfortable handing any more money over!



Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
15/09/2009 00:33

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Message 10 of 37 in Discussion

Franmac



Better get hold of Marion Stokes, the contact numbers you'll find somewhere on this forum. Advocates do not want 'class action' as it leaves them with less clients to RIP off. It is not in their greedy, self-interest, money grabbing minds to advise otherwise. They tell lies, they're crooks and will not counsel you correctly; the lot of them are a bunch of megalomaniac bandits!



Richard



cronos


Joined: 26/10/2008
Posts: 2093

Message Posted:
15/09/2009 00:37

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Message 11 of 37 in Discussion

Don't sit on the fence Richard.....tell us what you really think !



AlexF065


Joined: 07/09/2009
Posts: 271

Message Posted:
15/09/2009 02:00

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Message 12 of 37 in Discussion

Sad to say

I found this advice on the Internet

(googled "Class Action" & Turkish law) this is what came up "Turkish procedural law does not permit class actions."

this does not seem right as groups cannot club together and sue a builder for taking monies and not finishing work so long as all the unfinished work is at the same state

I had hoped to find better news

But I was told that there is a group who help folk in these circumstances north cyprus homebuyers

and an email address is marian.hbpg@gmail.com

they may well be able to help and give advice, The group is i am told free to join

I wish you all good luck



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
24/09/2009 06:37

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Message 13 of 37 in Discussion

I had a similar probem in another country. Eventually there were a load of us who got to know each other through a forum and it has been a great help to stick together and eventually things have got sorted out. I think it would be good if we did form some sort of a support group but we need to have a secure place???



Franmac is it possible to ge tht name of your solicitor as I too want my deposit back or at least some of it!



Sirbasil - sorry missed your call but will be in contact.



sirbasil


Joined: 28/05/2009
Posts: 4

Message Posted:
27/09/2009 21:13

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Message 14 of 37 in Discussion

Hello



Sorry its taken a while to get back to you all re East Del.



Gathering as many contact names and numbers of people who in the same position in the hope we can collectively arrange something. Therefore, please email at pb@q1tum.co.uk



Thanks



elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
28/09/2009 07:15

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Message 15 of 37 in Discussion

Msg. 9

Franmac,

It is possible to act together and sue the builder/developer jointly. There is no limit to the number of plaintiffs you can have in one case. I am sure your advocate did not say that you cannot take "class action". There must be some misunderstanding there.



When you start such a case with just one or 30 plaibtiffs, it makes no difference. However if the defendant is more than one, you pay slightly more i.e. the cost of service is calculated on the number of defendants and where they live, the farther away from the court the more you pay but its all minimal.



The defendant may ask for "Security for Costs" to be deposited with the court with the aim of putting you off. This has been opposed successfully by my wife in a similar case because the unscrupulous developer already had some of the plaintiff's assets with him.



Getting a judgement against the developer is only halfway there. If you already have your contracts registered and there is no mortgage on it you are in a safe position. After the judgement your advocate can bang on a memorandum on the property and then ask for forceful sale and eventually you get your share from the proceeds of the sale.

ismet

http://www.elkocyprus.com



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
28/09/2009 21:16

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Message 16 of 37 in Discussion

Hi - thanks sirbasil - I think we need to keep in contact over this - I already ahve a few contacts. Is anybody else interested in building up a group? 18 months ago i had a similar problem in Bulgaria and new nobody - but through grouping together we now have a Residents Association and 200 people in the group and the outcoem is looking very healthy. I am not saying this will happen with ECR but at elast we can support each other.



I put down a large deposit with a view to taking a mortgage with the company(or comapnies - as there have been many changes!!!) involved.



i am willing to lend a hand to organize soemthing sir basil.



Elko thanks so much for the help.



sirbasil


Joined: 28/05/2009
Posts: 4

Message Posted:
01/10/2009 14:40

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Message 17 of 37 in Discussion

Hello Gabby

Yes i am interested in builing up a group and am in contact with one other investor at the moment.

If you would like to email me direct (pb@q1tum.co.uk ) we can talk further

Regards Paul (sirbasil)



sporty


Joined: 06/12/2007
Posts: 685

Message Posted:
01/10/2009 17:25

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Message 18 of 37 in Discussion

add me to your list gabbi and sir basil.!!



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
01/10/2009 18:16

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Message 19 of 37 in Discussion

Hi Sporty - can you contact Sir basil and we'll be in touch. Franmac if you check in would you contact sir basil please to let him know what you have done so far? Do any of you know of any other forums where we can find others who may like to join us?



Thnaks G



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
01/10/2009 20:14

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Message 20 of 37 in Discussion

Hi there Straybearx. You said on your earlier post that you have e-mail adresses of others who paid deposits - could you forward them to sirbasil please?



Thanks so much.



Gabby



Straybearx



Joined: 08/03/2007
Posts: 121

Message Posted:
01/10/2009 22:29

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Message 21 of 37 in Discussion

Have forwarded a copy of an old email with 5/6 other peoples email addresses who were involved in the ECP.

We have Just arrived, (last Friday) and today have signed long term rental in Karmi. We were out with Jennifer Horriban yesterday she was trying to get us to take a small bungalow in Ozankoy as usual over priced and poor finnish.

We have lodged our contract and details with a very good solicitor, she said she would be willing to take a joint action if people could be found to commit to it. This took place on our last visit about 3 months ago. Be aware though, although she is certain we would have a very good case winning does not mean getting our money back. One last point, Jennifer Horriban says over 90% of people involved have accepted a swap, from what you are saying this seems unlikely



chevyman


Joined: 02/10/2009
Posts: 4

Message Posted:
02/10/2009 11:16

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Message 22 of 37 in Discussion

I have recently seen some villas of Tekjen. We are in on some units of East Coast and are considering exchanging. I wonder if anyone on here knows some inside information about the circumstances of Tekjen. I wonder if someone is strongly suggesting to avoid the exchange plans for any reason that we should all know. I know the prices are rediculous but my solicitor will negotiate until the price is reasonable or fight for the money. Does anyone think that Tekin himself will go under any time soon? Has anyone found out some dirt via searches performed by their lawyers? God forbid this would happen as we'd all be out of luck.



I agree with Straybearx that we should form a united front. If I do take these folks to court I'd rather do it with others. I already have a good solicitor but I'm sure he will be supportive in any move I make. Keep us in touch with the move you are making. We need each other.



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
02/10/2009 14:26

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Message 23 of 37 in Discussion

Definitely better to sty as a group - this was out success story when I had a similar issue in another country - it was a great strength to negotiate all sorts of things. I have no idea about any background of Tekjen but I have no interest in investing anymore moeny with this company - my interest was really manifested in the fact that I loved the ECR area and I think it wil be profitable in the long run.



There was a thread on here about the comapny but it has been removed.



Another client accepted the exchange and stayed recently but he was the only one on the site??? Seemed odd?



I think we also need to set up some secure internet place to 'meet'???



Straybearx



Joined: 08/03/2007
Posts: 121

Message Posted:
04/10/2009 20:21

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Message 24 of 37 in Discussion

Tekjen is one of the wealthist businessmen on the Island. He has a number of interests one of which was road surfacing he has a background of sucessfully completing many contracts both road and property construction. On this occassion he went into partnership with a guy who as it turns out may not have been as financialy strong as him. (I believe it was his partner that took out the 2000,000 load on the land) Following a falling out between the two, a court case followed .

Remember we would be suing East Coast Residency not Tekin personally so although we would almost certainly win our court case we would be in a line behind the banks for any refund. This after waiting 2/3/4 years for the courts to rule. If we do proceed ECR can ask those suing them to pay into court a fixed sum of money, although my solicitor believes we could get round this one if invoked by ECR.

Have you have spoken to Jennifer Horriban? she is now back at work and is trying to help as much as possible



Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
04/10/2009 20:34

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Message 25 of 37 in Discussion

If Tekjen is such a wealthy business man with (logically thinking) an astute business brain he should bail out all those that have lost financially for his faux pas of getting mixed up with a rogue partner.



Richard



Straybearx



Joined: 08/03/2007
Posts: 121

Message Posted:
04/10/2009 22:12

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Message 26 of 37 in Discussion

Fair comment Brinsley - would be nice if he thought so too



We arrived Last Friday and have taken a verrrrrrrrrry long term rental in Karmi,

air much better up there should be able to hold my breath so much longer



chevyman


Joined: 02/10/2009
Posts: 4

Message Posted:
04/10/2009 22:30

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Message 27 of 37 in Discussion

Straybearx. Is this information regarding Tekin coming from your lawyer? If so that's some good news for those exchanging. At least they can have some security that he is unlikely to default. Also, Tekjen Finance is the gaurantor of the ECR. It states in contract that he will recover moneys paid should C&T default or split. Doesn't that mean him? I guess he's smart enough to keep his money safe from those who deserve it back.



Straybearx



Joined: 08/03/2007
Posts: 121

Message Posted:
05/10/2009 10:45

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Message 28 of 37 in Discussion

Yes, Tekjen info is from my lawyer, she carried out extensive back ground checks into both partners.



stressedboy


Joined: 18/04/2008
Posts: 12

Message Posted:
05/10/2009 12:18

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Message 29 of 37 in Discussion

Its sad that this sort of thing continues to happen, even though the experienced members of the forum advise not to buy, but to rent until the market improves or the North/South situation becomes a little clearer. Unfortunately I have my doubts that this will happen soon.



If you buy off plan in the current climate you are putting your deposit at risk!



chevyman


Joined: 02/10/2009
Posts: 4

Message Posted:
14/10/2009 07:43

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Message 30 of 37 in Discussion

Are there any developments on this situation? I would be interested in knowing if some have already joined forces on fighting these guys.



Franmac


Joined: 14/09/2009
Posts: 3

Message Posted:
20/10/2009 21:31

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Message 31 of 37 in Discussion

Hi Gabby



Sorry for the delay in replying but i had difficulty signing on (sorted now)

Since we informed our advocate of our decision to go to court she has not replied to any of our emails.

She did indeed inform us that no "class actions" were allowed but hopefully that is wrong.

We would be interested in jioning the group to progress this as we seem to be getting knowhere with our choice of advocate.



chevyman


Joined: 02/10/2009
Posts: 4

Message Posted:
23/10/2009 17:57

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Message 32 of 37 in Discussion

My advocate said that he cannot take on more clients in this case either. He did say that we could share the cost of litigation on any one similar case and then the rest of us follow suit on our own. I don't understand how this would work as I have little experience with law, but he did say it would be better than having each of us go to court on our own. I guess it's a way of getting around the class action law. Forgive me as I know I'm not 100% accurate on this.



He did seem to think that this case is a clear win though after the win we'd have to fight hard to get any money. That will take time, but if it is there we will get it. I am optimistic and have accepted that it will take time. We can't just let these guys walk away with our money.



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
25/10/2009 15:23

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Message 33 of 37 in Discussion

Hi Franmac - can you contact sir basil as above - (OR ANYBODY ELSE WHO WNATS TO JOIN US) we have a few names of people who want to join. It would be helpful also if we can get names of any other people who bought through solicitors that we may have used. This way the group will grow. A few of us are keeping in contact via e-mail and hopefully we will come up with a plan. I have also been in touch with somebody who has contacts with a solicitor. I am not prepared to put my deposit into any other apt offered or to give this company or their representatives anymore money to waste. We must do something.



Thanks Gabby



Franmac


Joined: 14/09/2009
Posts: 3

Message Posted:
26/10/2009 23:42

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Message 34 of 37 in Discussion

Hi Gabby



I have now emailed Sirbasil expressing interest in joining the group in litigation against C&T.



Regards

Franmac



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
28/10/2009 12:04

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Message 35 of 37 in Discussion

We got your e-mail and we have contacted you.



Gabby


Joined: 28/04/2009
Posts: 9

Message Posted:
28/10/2009 12:06

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Message 36 of 37 in Discussion

Does anybody know if Marion Stokes is still available to advise? We have had difficulty contacting her by e-mail



Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
25/01/2011 20:53

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Message 37 of 37 in Discussion

I know this is an old thread but can someone inform me if the above class action was allowed and also was it successful?



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