Government Action - Backing Required

In a recent letter MJA, who were appointed as Quietude subsidiaries' Liquidator by the Paris Court on 13 October, confirm that all leases that were transfered earlier this year from Resid'Hotel to the Quietude Group are cancelled with immediate effect. A copy of the letter in question can be found here:

http://www.solicitor.fr/Liquidation_Quietude_subsidiaries.pd f

MJA had previously been apointed by the Court as Representative for the creditors. MJA were under a legal obligation to inform all leaseback owners that they had 4 months to file their claim in the receivership proceedings (2 months for French-residents), but apparently this was not done. All leaseback owners whose leases were transferred to the Quietude Group should be receiving a similar notice from MJA.

Dear Mutley

Congratulations for starting to try to pull some cohesive action together. I have posted before in relation to Odalys slow payment of rent at Argeles sur Mer and also their sister company SGIT Gestion who keeps sending bills for maintenance charges for which we are unsure we are required to pay.

I now have the names, addresses and email addresses of most of the English and Irish owners at Argeles so we are now in regular correspondence with each other comparing our experiences and also having a good old grouse. The rent for the Jul-Sept quarter is late and has only just been paid to a number of us but with no explanation why it is late and yet at least one English owner at Argeles was paid well on time on 2 Oct - very strange!

We have also all been written to by one of the French owners at Argeles who has sent a letter to all the other French owners to let us know that they have been trying to challenge Odalys in the courts regarding the increase in rent not being in accordance with the standard formula. Odalys have employed their big gun solicitors and refused to accept the jurisdiction of the court - delaying tactics in otherwords and also trying to force these owners into very expensive legal bills. Although the owners have received some increase to their rent (without any explanation of why or how it has been calculated) it still apparently does not reflect what the full amount should be and needless to say noone else appears to have had this increase.

So our next action from the English owners point of view is to get all our documents vetted to check to see if Odalys/SGIT Gestion have the right to do what they are doing and we are likely to ask Fabien Cordiez to do this for us. After that we will have to see what comes out of this and how things go in general.

One thing that I'm very mindful of is the fact that the properties at Argeles are all apartments within a managed holiday complex which includes a hotel, restaurants etc etc. So if push comes to shove and we want to take over our individual apartments how on earth do we get hold of keys, how do we get onto what could be a locked and guarded site in the first place!! What happens to the communal areas etc etc. A different matter if one owns a standalone leaseback villa!!

Anyway if you have produced any standard documents outlining all the issues in general which are suitable to send to MEPs and anyone else we should be lobbying, and if you have names of other individuals (French Government etc) who similarly should be lobbyed I'd be very pleased to hear from you.

Mutley

I sent you a pm a while ago. Did you get it?

JuanAzur

Hi

I was very interested in that you are persuing the problems with leaseback. I own a studio in Le Neptune, St Pierre Le Mer. We were with Odalys for 11 years and 9 mths. Rent was paid but often it was late and over the years it went down rather than up. Towards the end of the lease Odalys did not want to continue and so we have had to find a new management company and Olydea have taken over. Odalys used SGIT to maintain the building and in the last year we have had to pay out huge sums of money to do repairs. The building has fallen into a very poor state. Olydea have said they cannot rent many of the apartments or studios because air conditioning and water are not working. Olydea have not paid us any rent in 2018 and rent in 2019 will be greatly reduced because of all the costs incurred in repairing the building. Surely the fact that proper maintenance has not taken place is illegal, it questions where the money has gone!

Dear Mutley

Hi

I was very interested in that you are persuing the problems with leaseback. I own a studio in Le Neptune, St Pierre Le Mer. We were with Odalys for 11 years and 9 mths. Rent was paid but often it was late and over the years it went down rather than up. Towards the end of the lease Odalys did not want to continue and so we have had to find a new management company and Olydea have taken over. Odalys used SGIT to maintain the building and in the last year we have had to pay out huge sums of money to do repairs. The building has fallen into a very poor state. Olydea have said they cannot rent many of the apartments or studios because air conditioning and water are not working. Olydea have not paid us any rent in 2018 and rent in 2019 will be greatly reduced because of all the costs incurred in repairing the building. Surely the fact that proper maintenance has not taken place is illegal, it questions where the money has gone!