Marsa Alam Beach Resort Alarm Bells RINGING

[MichaelC]

Ok this is good maybe some answers but i doubt it

[SJH11]

Eric Maan of El Sery has agreed to meet representatives of our group - we have shed loads of questions to ask him.

[MichaelC]

Hi this is very good . I hope that there will be a positive outcome .Looking forward to seeing some answers

[Dark_Ninja]

Originally Posted by SJH11

There are quite a few investors based in Ireland. Are you in contact with any of them?

There are a few from round dublin

[fweetas]

Originally Posted by SJH11

There are quite a few investors based in Ireland. Are you in contact with any of them?

Hi SJH11

No I have not been in touch with anyone as yet but I certainly would be interested in doing so.

[fweetas]

Originally Posted by MichaelC

I would like to make contact with some other investors in ireland so as we can discuss our issues

Hi MichealC

I would also be interested in making contact with other investors from Ireland. As you say at least we could discuss the options.
Have you been speaking to anybody else from Ireland who invested? I have not.

[bolin3876]

has anybody heard from El Sery lately,as i think they have done a runner.

[realinvestor]

Hello Bolin

You are quite right in stating that El sery is doing a runner. We have all been waiting patiently for some new information from IPI but it now seems that they have virtually closed shop and with the latest court case in Netherlands really negative for them in the Zafarana case the implications for MABR investors are stark. Many false promises and indications (including some by pro-IPI-El sery supporters on the forum) have been made not just recently but in fact over the past two years and neither El Sery nor IPI have revealed anything of substance at all except they keep on saying new information will be given shortly. I know a group of investors have lost complete patience and are about to contact both the Dutch police and interpol about the grave status of the missing escrow funds in MABR. Under Dutch law, Mr Maan is personally liable for the escrow and the danger for him now is that as multiple cases mount up for him, he will be cornered from all angles as all this negative evidence and court rulings against both him and IPI will then be submitted to the Egyptian courts. unfortunately, in our case the situation now resembles one of a headless chicken and it is only a matter of time before the vultures circle the carcass. It is time for IPI/EL Sery to show their final hand otherwise it will be all too late.

[SJH11]

Realinvestor, your biased untruths make me wonder who you are working for. At the moment, our large investors' group is in constant touch with Eric Maan of El Sery. So no, El Sery have NOT shut up shop and done a runner. I have no axe to grind here and I have not ruled out legal action for the future. However, will all those who are taking legal action please get real. Just what do you think you will achieve for yourselves? If a fraud is proven - and that is a big 'IF' - those responsible will perhaps be imprisoned and their assets sold off to pay creditors. Do you really think you will get your money back? If most of it has been spent on spiralling costs to get the MABR site to where it is, then it CANNOT be paid back to the investors, because it has gone. In my opinion (and that is all it can be) the only option is for investors to wait until the site is finished and get our apartments handed over. It is not ideal but the other option is to spend money on solicitors who may or may not get a result in the courts. Only if they get a result in the courts, do the courts award to the investors. BUT if there is no money available, the investors still get nothing even if they have been awarded money. It really does no good at all that people are posting their own views and opinions as FACT when it is nothing but conjecture. Everyone's opinion should be valued as it could lead to further ideas. However, PLEASE, for the sake of clarity for everyone, post your thoughts as precisely what they are - your opinion.

[Cliff123]

Nice one SJH11 someone talking sense

QUOTE=SJH11;866038]Realinvestor, your biased untruths make me wonder who you are working for. At the moment, our large investors' group is in constant touch with Eric Maan of El Sery. So no, El Sery have NOT shut up shop and done a runner. I have no axe to grind here and I have not ruled out legal action for the future. However, will all those who are taking legal action please get real. Just what do you think you will achieve for yourselves? If a fraud is proven - and that is a big 'IF' - those responsible will perhaps be imprisoned and their assets sold off to pay creditors. Do you really think you will get your money back? If most of it has been spent on spiralling costs to get the MABR site to where it is, then it CANNOT be paid back to the investors, because it has gone. In my opinion (and that is all it can be) the only option is for investors to wait until the site is finished and get our apartments handed over. It is not ideal but the other option is to spend money on solicitors who may or may not get a result in the courts. Only if they get a result in the courts, do the courts award to the investors. BUT if there is no money available, the investors still get nothing even if they have been awarded money. It really does no good at all that people are posting their own views and opinions as FACT when it is nothing but conjecture. Everyone's opinion should be valued as it could lead to further ideas. However, PLEASE, for the sake of clarity for everyone, post your thoughts as precisely what they are - your opinion.[/QUOTE]