Marsa Alam Beach Resort Alarm Bells RINGING

[realinvestor]

Originally Posted by Eco-Mariner

I never said all agents and all IPI officials.... I said all Egypt projects all lawyers and all agents around the world think Egypt's legal system was easy to work with...It isn't.

Hence 90% of contracts (be it with development partnerships, agency agreements or client purchases) are susceptible to being proved worthless.

Yes there were major mistakes by the company, start to finish, hence a whole new perspective is required to rectify the situation. That's on the agenda.


Eco - Mariner.

Dear eco mariner,

It is good we are able to clarify all these issues. And if you are sincere (which I am sure sure are) in that you are on good terms with Eric Maan then what you admit that - major mistakes were made by the company (IPI) from start to finish- is a major admission by someone in the knowhow. Now that is where most of the investors have been bewildered and taken aback as none of this came out of their official newsletters and emails etc. And that is why over the next few weeks we all need to know the truth as to both the status quo and the alternative plans.

[bolin3876]

Would be nice if we had some sort of contact on whats going on,no ones contacted me.

[bolin3876]

Originally Posted by bolin3876

Would be nice if we had some sort of contact on whats going on,no ones contacted me.

do ythey really exist,or is it another con.

[Eco-Mariner]

The after-sales team are as bewildered as investors I'm sorry to say. Then again they are not priviledged with answers. Those come later when decisions are made at the top.


Eco-Mariner

[realinvestor]

Originally Posted by Eco-Mariner

The after-sales team are as bewildered as investors I'm sorry to say. Then again they are not priviledged with answers. Those come later when decisions are made at the top.


Eco-Mariner

The after sales team is just a shell. Let us assess the facts. Many parts of IPI are bankrupt. El sery has probably no more than 2 employees and the only one left in the after sales team in IPI Netherlands is one person related to Jurgen. The real issue is what has happened to the shareholdings in El sery. Eric Maan was not a shareholder initially but probably is now or is obviously looking to get hold of some/many shares as Jurgen fades away. And of course it would be interesting to find out what stake Ted obbeerals (inventor of the Pure WOW concept) has or will get

[fweetas]

Originally Posted by magbed

Hi Fweetas,
We living in Drogheda , IRL and we also very worry about our invest. We look for investors from Ireland. Is many of them on this forum?

Hi Magbed,

If you post 5 messages on the expat forum you are then able to send and receive PM,s
I have not been in touch with any investors from Ireland but it would be good to get a couple of opinions on the matter from a few. We are in Cork

[bolin3876]

Did anyone else get the e-mail about some guy from el-seery retiring due to ill heath,i can get there e-mails about this.but they dont reply to any i send about,whats happening at the Marsa-Alam beach resort.

[jogoodac]

Hello everyone,

I am an Investor in MABR / Pure Wellbeing Resort and am so relieved to have found this forum / thread. I have been reading your posts and empathise with your fear, anger and helplessness. Despite consulting Citizens Advice, Trading Standards and my Solicitor I remained isolated and unable to resolve the alarming issues that were unfolding.

I bought a 2 bed apartment as a holiday destination / income and investmentment for the future of our four children.

Like many of you, I have been contacted by GIC Legal but did not attend their meeting, nor have I parted with any cash as I was suspicious as to the truth of their claims.

Has anyone got any fresh news?

[Dark_Ninja]

Originally Posted by jogoodac

Hello everyone,

I am an <a class="ktg6us78hf8vdu7" href="#">Investor</a> in MABR / Pure Wellbeing Resort and am so relieved to have found this forum / thread. I have been reading your posts and empathise with your fear, anger and helplessness. Despite consulting Citizens Advice, Trading Standards and my Solicitor I remained isolated and unable to resolve the alarming issues that were unfolding.

I bought a 2 bed apartment as a holiday destination / income and investmentment for the future of our four children.

Like many of you, I have been contacted by GIC Legal but did not attend their meeting, nor have I parted with any cash as I was suspicious as to the truth of their claims.

Has anyone got any fresh news?

I think we may have some news shortly about this mess. Ask a few more direct questions by posting on here. We will then be able to private message you as to some more locations to find some info. You are not alone!

[Dark_Ninja]

Originally Posted by samui13

Thanks Real <a class="ktg6us78hf8vdu7" href="#">Investor</a> - my contracts were validated in three months, however friends with the same lawyer have taken two years. I have been told by quite a few people in Sharm that contract validation is on hold (or was during the revolution and that was what the hold up is - too many dodgy land backhanders were going on. May not be the case now, but I am speaking from experience. the same <a class="ktg6us78hf8vdu7" href="#">lawyer</a> taking three months and two years for different contracts (on the same resort) would not make sense otherwise. Mine were done back in 2008 and were three months. The other guys were 2009/10 and he is still waiting.


Lawyer in question was Zeiad Yehia, Edgebridge Law firm - so you can be the judge on whether he is a good lawyer or not, all im saying is, same lawyer, same developement, same dual language contract, in 2008 took 3 months and is now taking two years. Maybe the lawyer changed from good to bad, but perhaps maybe the system has changed since you last experienced it.


Lou

It is probably not worth doing it then at the moment as the court system is obviously not working at full capacity and is probably likely to undergo changes with the new government?