Larionovo

lalique

Nadnerd2 wrote: »

Hi,
I have been reading all these threads about Larionovo. This company recently sold some investment buy to lets in St Hilliare, France but the completion date has been moved from Summer 2009 to Summer 2010. Deposits to the Notary in France have been paid. Has anyone else bought into this development and are they happy or otherwise that the completion date has moved by 12 months? Given the bad press that this company is getting are our deposits safe ?

Hi, I think in your case you have to ask yourself the following questions, 1. why has the development been put back, are you happy with the explanation given?
2. Are you happy with the level of communication that you recieve from them.

I would llike to think that our case is a one-off saga, although I must admit I am hearing discontentment about another Larionovo developement.

fjord

baro wrote: »

No, but I know some of the individuals involved and would be very wary of them.Think the changing of the company name to Profile is very suspicious.I think you need some very good legal advice.

Thanks for the advice Baro. There is now a group of us formed and we are looking at our options. Too many promises have been given over the last six months to all of us by Larionovo none of which have ever amounted to anything.

Finscout

Hi just came across this thread, I'm another one that bought in India. I'd def be interested in getting legal help with this. Is there any update?

fjord

Finscout wrote: »

Hi just came across this thread, I'm another one that bought in India. I'd def be interested in getting legal help with this. Is there any update?

Hi Finscout,
Can you pm me your phone number and I will give you a call?

Aine M

fjord wrote: »

Yes,
I just heard the end of the programme and there were a lot of people who are in the same situation with this Company. Raymond is saying we will all get our money at the end of November, but how can we possibly believe anything they say at this stage. Joe asked him soem very direct questions which he did nto exactly answer. There was an interesting man called Jack on who was promised by Andrew exactly what we were last week - it would be good if he linked into this forum. There were also lots of others who have invested in other Countries with Larionovo and who are just as angry as we are about India

I must have missed this part of the interview?What was this about and how many calls were there???

fjord

Aine M wrote: »

I must have missed this part of the interview?What was this about and how many calls were there???

Hi Aine M,
Did you hear the programme? Have you also purchased in India with Larionovo? There were people on the programme who had invested in Dubai who are also having problems

Aine M

lalique wrote: »

Hi, I think in your case you have to ask yourself the following questions, 1. why has the development been put back, are you happy with the explanation given?
2. Are you happy with the level of communication that you recieve from them.

I would llike to think that our case is a one-off saga, although I must admit I am hearing discontentment about another Larionovo developement.

In fairness people we were well able to jump on the bandwagon for foreign property when they could secure loans on a free will basis from the banks or when they somersaulted into a "too good to be true". Its one of the reasons the country is in a recession.I have foreign property in Dubai, France and Portugal and I have to remember that the company I purchased from are the agents for the developers who build and develop the units.The agents have no control over delays on the behalf of the builders and have no control over it.Take a look closer to home and put that on a worldwide scale.

fjord

Aine M wrote: »

In fairness people we were well able to jump on the bandwagon for foreign property when they could secure loans on a free will basis from the banks or when they somersaulted into a "too good to be true". Its one of the reasons the country is in a recession.I have foreign property in Dubai, France and Portugal and I have to remember that the company I purchased from are the agents for the developers who build and develop the units.The agents have no control over delays on the behalf of the builders and have no control over it.Take a look closer to home and put that on a worldwide scale.

In fairness Aine M you obviously have not had the level of problems which we have hall had with your properties in India. You're very lucky if this is the case. Unfortunately in our case we have been fed a lot of lies by the Agent, Larionovo since June 2008 about when we will be getting our money back. That is the difficulty which we are trying to resolve here.

Aine M

fjord wrote: »

Hi Aine M,
Did you hear the programme? Have you also purchased in India with Larionovo? There were people?? on the programme who had invested in Dubai who are also having problems

I have just listened to it and having purchased foreign property (not India nor from Larionovo), I was just asking how many people rang in, there was only one person on air and to my understanding this is different to the subject matter discussed and should in my opinion not have been on Liveline as it is only raising more panic in people when it was a delay in building.Its adding to the bad news of the country.it is to be expected when buying in Dubai and in Ireland even but more so with any foreign property?Maybe they didnt have their research done and I said they somersaulted in cos they certainly didnt walk into it.

Aine M

fjord wrote: »

In fairness Aine M you obviously have not had the level of problems which we have hall had with your properties in India. You're very lucky if this is the case. Unfortunately in our case we have been fed a lot of lies by the Agent, Larionovo since June 2008 about when we will be getting our money back. That is the difficulty which we are trying to resolve here.

Its not the case I have had delays in the three properties.Its a common problem in the last two years, even when buying my own house in Ireland.A cousin of mine recently purchased in France where Larionovo are selling and I know for a fact that they recieved their notary fees free as a result of the delay.This was from the developer and nothing to do with Larionovo. While I understand the issue with Larionovo, ye are being compensated by the developer for it?Have ye been in contact with the developer??Being in property here, I would nearly assume that the developer told these lies to the agent.can I also ask you what would have happened if you had stay with the Indian investment if you had not withdrawn from it or was that an option???

fjord

Aine M wrote: »

I have just listened to it and having purchased foreign property (not India nor from Larionovo), I was just asking how many people rang in, there was only one person on air and to my understanding this is different to the subject matter discussed and should in my opinion not have been on Liveline as it is only raising more panic in people when it was a delay in building.Its adding to the bad news of the country.it is to be expected when buying in Dubai and in Ireland even but more so with any foreign property?Maybe they didnt have their research done and I said they somersaulted in cos they certainly didnt walk into it.

The programme began with two people who purchased in India. Raymond Nortona one of the Directors of Larionovo was also invited on air. Several other people rang in - the majority were ringing in relation to India. They had all invested with Larionovo. I don't remember how many rang in relation to Dubai, however there is a group now formed of people who have all purchased properties with Larionovo in India, Dubai, Spain. All are unhappy with the Investment they have made due to changes in what they were promised, and the vast majority of us are having serious difficulties in getting our money back when promises have been made by the Company time after time. We have been in touch with the Developer in India; the Indian Ambassador in Ireland aswell as many others in a bid to get our money back on the Indian properties. Some of the group purchased three and four units and are awaiting a substantial amount of money back

lalique

Hi

Whilst we are all entitled to our own opinion, can I ask Aine M what point are you trying to make here?

I too have various other investment properties in europe, and whilst we all accept that delays happen that we have no control over, that does not excuse, very poor communication and downright rudeness by larionovo staff, which I can assure you has been the case here.

Also, one person went on air about Dubai, but others also tried to get through. This is not fiction it is fact.

Also we are not talking about 4 or 5 people here that are affected by this, we are talking 200+ and should the agent and developer not deliver what they promised at the end of the month, then no doubt you will see and read alot more about this.

ukdavros

I am also a bit lost as to what point Aine M is trying to make
They seem to be assuming they are some kind of property expert and that we are not, without knowing anything about us or the facts on the issue.
Could also be a Troll or a Larionovo plant I suppose
Ether way I am not paying much attention to them.
Should thank them I suppose for bumping up the thread again

Mark

Aine M

Its just funny cos I came on this thread cos I have been following this case because I am interested in property,and I am not assuming I am a property expert I just know the market,having invested heavily when the times were good. I do sympathise with your situation.
I am just saying here that I had a project go belly up and I didnt go through the agent, I hit a block wall with them.They didnt have the funds to pay me back.I went directly to the developer and got results.THIS IS MY POINT HERE.
I am sorry to say but from an independent point of view here,this matter should not even have been discussed until all other options have been exhausted and from my calender the date which the developer has promised your funds the 30th of Nov is still eleven days away.If I were ye I would be then taking action on every show possible. I have heard Larionovo is in big trouble.I wouldnt be expecting they would be there if the money fails to come through from the developer.
If I were ye I would be hounding the developer on this and that is from personal experience.I wouldnt be sparing that Raymond Norton guy either,he couldnt even answer most of the questions.

fjord

Aine M wrote: »

Its just funny cos I came on this thread cos I have been following this case because I am interested in property,and I am not assuming I am a property expert I just know the market,having invested heavily when the times were good. I do sympathise with your situation.
I am just saying here that I had a project go belly up and I didnt go through the agent, I hit a block wall with them.They didnt have the funds to pay me back.I went directly to the developer and got results.THIS IS MY POINT HERE.
I am sorry to say but from an independent point of view here,this matter should not even have been discussed until all other options have been exhausted and from my calender the date which the developer has promised your funds the 30th of Nov is still eleven days away.If I were ye I would be then taking action on every show possible. I have heard Larionovo is in big trouble.I wouldnt be expecting they would be there if the money fails to come through from the developer.
If I were ye I would be hounding the developer on this and that is from personal experience.I wouldnt be sparing that Raymond Norton guy either,he couldnt even answer most of the questions.

Thankyou for your opinion, however it does not sound as though you sympathise with our situation at all. The Developer and Agent have given us several other dates up to now, so I do not agree that it was too early for this matter to be discussed on National Radio. If you listened to the programme carefully you would have heard people complaining that they had been promised other dates before 30th November.. We have been following all lines possible. Not every step we have taken has been highlighted in this Forum. There is a group which has formed within which plenty of action is being taken on a daily basis

lalique

Aine M wrote: »

Its just funny cos I came on this thread cos I have been following this case because I am interested in property,and I am not assuming I am a property expert I just know the market,having invested heavily when the times were good. I do sympathise with your situation.
I am just saying here that I had a project go belly up and I didnt go through the agent, I hit a block wall with them.They didnt have the funds to pay me back.I went directly to the developer and got results.THIS IS MY POINT HERE.
I am sorry to say but from an independent point of view here,this matter should not even have been discussed until all other options have been exhausted and from my calender the date which the developer has promised your funds the 30th of Nov is still eleven days away.If I were ye I would be then taking action on every show possible. I have heard Larionovo is in big trouble.I wouldnt be expecting they would be there if the money fails to come through from the developer.
If I were ye I would be hounding the developer on this and that is from personal experience.I wouldnt be sparing that Raymond Norton guy either,he couldnt even answer most of the questions.

Hmmm now where do I start on this.......................................rather than let this turn into a "slanging Match" I would like to advise you that I really don't think you really qualified to comment on this issue as you have not invested directly in this project through this agent/developer. Nor have you been receiving e-mails stating/promising that you will receive money on specific dates, the lies and excuses we have been fed have been shameful and the attitude of certain company employees has been disgusting. Also for your information, I have explored every other route and when people refuse to respond, then I'm afraid tougher actions needs to be taken, this is what we are doing now, and in "11 days" we don't have a resolution to this problem then it will be escalated further. You also say "Larionovo is in big trouble" on what grounds can you substantiate this. As far as I can see they have bought this on themselves by treating their customers very badly and now they are feeling the backlash. Going on the Liveline program just brought together a lot of very annoyed people who otherwise were battling alone in this.

ukdavros

Aine M wrote: »

Its just funny cos I came on this thread cos I have been following this case because I am interested in property,and I am not assuming I am a property expert I just know the market,having invested heavily when the times were good. I do sympathise with your situation.
I am just saying here that I had a project go belly up and I didnt go through the agent, I hit a block wall with them.They didnt have the funds to pay me back.I went directly to the developer and got results.THIS IS MY POINT HERE.
I am sorry to say but from an independent point of view here,this matter should not even have been discussed until all other options have been exhausted and from my calender the date which the developer has promised your funds the 30th of Nov is still eleven days away.If I were ye I would be then taking action on every show possible. I have heard Larionovo is in big trouble.I wouldnt be expecting they would be there if the money fails to come through from the developer.
If I were ye I would be hounding the developer on this and that is from personal experience.I wouldnt be sparing that Raymond Norton guy either,he couldnt even answer most of the questions.

Thankyou for your point but i am afraid it is not a very good one.
You are making too many assumptions, how do you know what options we have already exausted. How do you know whether we have already been hounding the developer or not.
Also although it wasnt really discussed on here in detail, if you read the post it was asking for people in the same postion. But if we want to Discuss it on here then that is our decission, people can either join in or not.

irish_bob

Aine M wrote: »

I have just listened to it and having purchased foreign property (not India nor from Larionovo), I was just asking how many people rang in, there was only one person on air and to my understanding this is different to the subject matter discussed and should in my opinion not have been on Liveline as it is only raising more panic in people when it was a delay in building.Its adding to the bad news of the country.it is to be expected when buying in Dubai and in Ireland even but more so with any foreign property?Maybe they didnt have their research done and I said they somersaulted in cos they certainly didnt walk into it.

not only do you appear to be shooting the messengers who were heard on liveline , you seem to be defending the company in question , it is larionovos complete lack of transparency and shady demeanor that is creating anxiety in people ,not those brave enough to expose it , the people on liveline have only brought it to the publics attention and i can assure you , the response has been significant , oh and how is raising awareness of property dealings relating to dubai and india in anyway adding to the woes of this country

lalique

Hi

Larionovo went into liquidation late on Tuesday evening.

baro

Larionovo goes in to receivership.The proposed merger (if there ever was one) with Profile has not occurred.

http://overseascafe.blogspot.com/2008/11/larionovo-goes-into-receivership.html

Climate Expert

Looks like you've all lost a packet. Lesson learned, don't give large amounts of money to people for some shack in a third world country 3000 miles away.

lalique

Climate Expert wrote: »

Looks like you've all lost a packet. Lesson learned, don't give large amounts of money to people for some shack in a third world country 3000 miles away.

Many thanks for your understanding nature in this matter! I'm sure everyone will take much comfort from your kind words.

ukdavros

I wouldnt pay too much attention to Climate Expert, somekind of weather person I guess. You only have to look at other posts they have made to realise they are a bit of a Troll. But once again we should thank them for bumping up the thread.

You have to remember Climate Expert knows nothing about us. Doesnt know how much property we each have, what experience we have etc etc.

Doesnt even realise that just because Larionovo are no more, this doesnt mean we have lost a packet, as they dont know all the facts.

Mark

Climate Expert

ukdavros wrote: »

You have to remember Climate Expert knows nothing about us. Doesnt know how much property we each have, what experience we have etc etc.

Doesnt even realise that just because Larionovo are no more, this doesnt mean we have lost a packet, as they dont know all the facts.

Mark

I know that you 'invested' in Indian property. Thats about all you really need to know.

You've just become a creditor amongst many others. Chances are you will see nothing or less than 10% of your money. No doubt the rest of it has been long since locked away in India and other countries.

ukdavros

Climate Expert wrote: »

You've just become a creditor amongst many others. Chances are you will see nothing or less than 10% of your money. No doubt the rest of it has been long since locked away in India and other countries.

Thats what you think, like I said you dont know the facts, this post of yours just proves it;)

fjord

Climate Expert wrote: »

I know that you 'invested' in Indian property. Thats about all you really need to know.

You've just become a creditor amongst many others. Chances are you will see nothing or less than 10% of your money. No doubt the rest of it has been long since locked away in India and other countries.

Don't be a loser. What experience do you have to make such comments? And how insulting of you to call the units in this development in Mumbai a shack - ever been to India have you?

Abraham

Larionovo presented and marketed Dubai investments very well over the past three to four years or so and now this. Now they look like they were just another House of Cards. All silver tongued style and no substance. Would just love to be able to sell up now even at a loss but this sounds more and more remote by the day. My partner and I are just sick at the outcome of this and what it's done to us with our one and only investment.

Wonder what the numbers are in regard to Irish purchasers there ?
Is there some sort of group we could give support to ? If not then there should be and the sooner one is formed the better.

irish_bob

Abraham wrote: »

Larionovo presented and marketed Dubai investments very well over the past three to four years or so and now this. Now they look like they were just another House of Cards. All silver tongued style and no substance. Would just love to be able to sell up now even at a loss but this sounds more and more remote by the day. My partner and I are just sick at the outcome of this and what it's done to us with our one and only investment.

Wonder what the numbers are in regard to Irish purchasers there ?
Is there some sort of group we could give support to ? If not then there should be and the sooner one is formed the better.

hi there

i take it you bought in duabai aswell , i myself bought in sports city , i curse the day i read that feature on dubai by that property whore john o keefe in the sindo , anways , you say you would like to join a group

pm me if you want my number

zxcvbnm1

irish_bob wrote: »

hi there

i curse the day i read that feature on dubai by that property whore john o keefe in the sindo , anways , you say you would like to join a group

pm me if you want my number

I really don't know how that guy john o'keeffe sleeps at night.

Evry article he ever wrote always pretty much says you would be a fool not to buy it ASAP.

Calling him a whore is a good phrase actually.

He really did sell his soul for a few quid - and was unfortunately in a position where his few quid profit meant he probably influenced a lot of naive investors.

Climate Expert

zxcvbnm1 wrote: »

I really don't know how that guy john o'keeffe sleeps at night.

Evry article he ever wrote always pretty much says you would be a fool not to buy it ASAP.

Calling him a whore is a good phrase actually.

He really did sell his soul for a few quid - and was unfortunately in a position where his few quid profit meant he probably influenced a lot of naive investors.

His job was to promote property and his paper got money for the ads. More fool the person who didn't see this conflict of interest before throwing away a few years salary trying to get rich.

lalique

http://overseascafe.blogspot.com/2008/11/larionovo-goes-into-receivership.html

Read this Irish bob and go get another carlsberg before you do!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!:D

EnoughSaid

Abraham wrote: »

Larionovo presented and marketed Dubai investments very well over the past three to four years or so and now this. Now they look like they were just another House of Cards.

Yes, you got it! The worldwide property market for the past few years has been like a giant pyramid scheme fuelled by cheap credit and greed. Now that credit is now longer available, the whole thing is tumbling down. As with all pyramid schemes, it is the ones who come into it last who always get their fingers burnt the most.

ukdavros

Blimey we do seem to get our fair share of plonkers in this thread. The people who know myself or Karen, know who I mean


You still dont seem to realise we arnt interested in theBullSh*t comments some people are making, just because they havnt got anything to do all day. If People havnt got anything constructive to say then dont bother we aint interested.

The_Conductor

Guys- I understand that emotions are running high on this- but lets tone it down please.

Regards,

SMcCarrick

ionapaul

ukdavros wrote: »

Blimey we do seem to get our fair share of plonkers in this thread. The people who know myself or Karen, know who I mean


You still dont seem to realise we arnt interested in theBullSh*t comments some people are making, just because they havnt got anything to do all day. If People havnt got anything constructive to say then dont bother we aint interested.

Is 'constructive' the same thing as 'positive'?

If I have some constructive but negative comments to make, should I or is it better to stay quiet?

Abraham

ionapaul wrote: »

Is 'constructive' the same thing as 'positive'?

If I have some constructive but negative comments to make, should I or is it better to stay quiet?

No, it is not better to stay quiet. Some of us are feeling very foolish now because of what has happened to our investments. Most of us, I'll venture to say, are only small time players, i.e. buying single units and probably hoping to use it for our own/family benefit with capital appreciation later. By banding together we can be a real force to be dealt with. We certainly haven't a prayer of achieving anything by remaining singular and isolated in our approach to the search for a solution.

If we pool our experiences and devise a strategy to exert pressure we may well recover some or perhaps most of our input. It's not a time for faint hearts or for listening to begrudgers. There must be very few people in life who haven't made some decision with every good intention and then had cause to regret it later.

Live horse and you'll get grass.

OverseasCafe

The Larionovo liquidation story ran in the Examiner today.

There's a lady called Karen Marshall quoted who wants to get in contact with other like minded investors. Her email details are in the piece.

lalique

Hi Overseas Cafe


Thats me!!!!! I'm the ring leader in all of this and so far have managed to get 27 investors on board and I have 17 answerphone messages to listen to!!!!!!:D

Abraham

Karen - good on you. We must ensure now that all those who have a vested interest in sorting this out have the opportunity to make contact and come on board. The sooner this is done, the sooner we will see progress.
Everybody, absolutely everybody with a stake in this should come on board and assist in the drive toward a reasonable solution.

lalique

Anybody that wants to get involved in the group just send me a PM
We have some very high profile people on board now to help.

Regards
Karen

lalique

ionapaul wrote: »

Is 'constructive' the same thing as 'positive'?

If I have some constructive but negative comments to make, should I or is it better to stay quiet?

Of course you should make them,
Just some of the posters on here who are obviouse Trolls are posting complete rubbish.

I have direct communication with Ian the liquidator as well as others and things are moving forward. I also have a couple of aces up my sleeve.

So we have a good case of getting it back.
Karen

Overseas-buyer

hello

i am new on this forum. ive read your comments about larionovo, can you provide me with help or details to assist buyers? im buying in italy (calabria) in a small development called borgonovo which another irish company called VFI has developed.

where can we get legal advice or assistance?

thanks for your help

italiano1

Hello there - i am also new to this forum .In relation to post # 93 , I am in the process of buying in borgonovo (italy) deposit was paid through Larionovo but the contract is with VFI. I will try to contact VFI directly and find out what is going on, but i feel that larionovo in this case were only the selling agent there shoud not be a problem - well i hope not.

Regards

lalique

I the only way there could be a problem is if the money was not pasted on, but I have no reason to doubt it wasn't.

The best way forward as you say is to try and establish contact with the developer direct.

Good luck and keep us up to date

Maximus1

Hi,

We have put down a 1st installment at the Borgonovo development. Although Larionovo were the agent we paid the installment through Giambrone & Law solicitors who passed it on to VFI on signing of contracts.

Reading all the trouble with Larionovo I now wonder how safe VFI are?especially as the next installment is due soon and in the current economic climate,how financillay sound are VFI.
There is a bank guarantee with the payments made, but again, with what is happening in the world presently, will that hold up.

Would be interested to hear if anyone has any news on VFI or if anyone has been out to Pizzo to see the Borgonovo development recently.

Regards
Maximus1

jdivision

Anybody who was buying with this crowd should look at the inside back page of the Irish Times today or go to their website. Very worrying

irish_bob

jdivision wrote: »

Anybody who was buying with this crowd should look at the inside back page of the Irish Times today or go to their website. Very worrying

could you provide a link please

Zagorkagirl

Maximus1,

I was in Pizzo at the end of September to view the site and the surrounding area. The development was at foundations level at the time but they've made a lot of progress since then. Pizzo is a lovely spot and I'm sure Borgo Novo will live up to expectations.

The Larionovo thing is a little bit worrying but as another poster pointed out, our deposits were paid to the developers and not the agents.

I have emailed Giambrone & Law to ask for some clarification and I suggest you do the same. Under no circumstances should you send money directly to VFI; you should only send money through your solicitor.

My solrs G&L have requested the second installment (20%) but I won't be remitting this until I have assurances that my money is safe.

I've attched a link for update photos of Borgo Novo construction.

http://vfi-overseas-property.blogspot.com/

Good Luck,
Zagorkagirl

jdivision

irish_bob wrote: »

could you provide a link please

http://www.larionovo.com/
Please be advised that Paul McCann was appointed Provisional Liquidator of Larionovo Limited on Tuesday 25th November 2008. If you have invested in a property development through Larionovo Limited but have not completed the purchase, please email larionovo@grantthornton.ie the following details:

Your:
1) Name
2) Address
3) E-mail contact details
4) Amount of money invested
5) Name of development

Kindly note that we will contact you by email by 12 December 2008 with an update on your position.
With regard to investors in the Indian development project the developer has indicated that he is willing to return deposits to Larionovo Limited to be held in trust for investors in full. The Provisional Liquidator is continuing to investigate this matter and will revert to investors with confirmation in due course.

Matt1

An extract from an email I received recently, everyone is starting to have a pop at each other!

"You have received a letter from Giambrone in relation to the above payment. The contents of this letter is not correct and we will be informing Giambrone Law of the exact legal situation regarding your insurance bond issued by the developer-builder.
As you can see we underlined developer-builder because no one has any legal authority to state comments which are legally wrong.
The insurance bond is issued under Italian Law and is a requirement to insure the client for all of their payments which include the 30% and 20% PAYMENT.
This insurance bond is taken out by the developer-builder as the Italian Law requires neither Giambrone Law or VFI have any involvement in this. It is part of Italian Law and under Italian Law is binding between the client and the developer . The letter you received by Giambrone Law is completely wrong and for a number of reasons is illegal.
We firmly recommend that the 20% payment now due is transferred to VFI ‘s account so that your property can be processed quickly. Our clients and developers have had many problems with Giambrone ie late payments, wrong documentations, wrong names on contracts etc etc., and many of our clients and our developers are unhappy with Giambrone’s lack of professional organization .
If you require the developer to confirm that he also wishes the 20% payment to be transferred to VFI’s account we can supply written confirmation of this from the developer."

Perhaps VFI are sounding a little desperate as they are too struggling???