ICE Developers - Ceased Trading?

[J B]

Just had this from one of the co-owners on our complex.

Does anyone have any comments/advice???
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Hi All

Due to various reasons most beyond my control I have not paid for my title deeds. The plan was to pay this September. Sadly asking my solicitors S & H K........... they informed me that ICE Developers have recently stopped operating/trading as a company.

Any advice most welcome!
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Another owner has replied thus:-

I'm having the same problem - my solicitors have been trying to get co-operation from ICE for 6 months now - yet Land Registry insist on representation from the developer. I'm interested in any solution.

[Wee Stumpy]

I could be wrong JB as I havn't lived in Tala for a couple of years now but I seem to remember that Themoula in the shop across from the Council Offices was married to the ICE Boss so maybe if you are in Tala at the moment you could pop in and ask her?

[J B]

Shelagh

What Themoula told me, when we were last there at the beginning of June, does not need repeating in a public forum!!!!!!!!!!

Suffice to say, that I and C are no longer directors and that E is a ***********

[darrow]

ICE have ceased trading and the office in town is closed. I also went to land registry to ask if we can get our deeds, which we know have been issued, but they want P & P to attend and sign the transfers. not much chance of that! Who knows how to get hold of them? if you have Specific Performance and it was lodged before any charges were put on the property it is supposed to take precedence. ICE owe millions! Our lawyer says the only way is to get a writ to order the Land Registry to do their duty. It makes a mockery of a so called legal contract when Government office staff can ignore it, and the right to have your property under Specific Performance!!

[J B]

Darrow

Why P&P and not C? - they *were* the three directors ... weren't they?

[Nigel-Howarth]

I had an email from someone earlier today saying that ICE have ceased trading.

Regards,

[J B]

So, Nigel

Do you think there is a way round this??

I will PM you ... with what 'the man in the pub' told me

[darrow]

J B. When I went to the land registry, I was told only 2 directors signed for our plot. I asked if it was P & P, she said yes. no mention of any other director.

[MikeHardman]

AFAIK, partly from my recent discussion with H.K.:
- C was a sleeping partner; only P & P's signatures required on most documents
- Yes, ICE have ceased trading, but the legal entity has not been wound up. I suspect it would be difficult to wind-up because that would probably require the signatures of the directors, and if they or an agent materialized to do so, then they'd be nabbed (I would like to think)
O- one way or another, I believe there are mechanisms for releasing title deeds without director's signature (such as the writ mentioned above). After all, there must be provisions, in general law and/or articles of association, for the administration of a company's affairs if its board all die in a plane crash, eg.

Keeping fingers xxxd...

[selinabird]

Could someone pm me with any info re ICE ceasing trading as we are due in court in Paphos on 8th October (again!) chasing a refund promised by 'E' almost 3 years ago for an unbuilt apartment in Mesa Chorio, any ammunition would be much appreciated....
Selina

[Nigel-Howarth]

Do you think there is a way round this??

I guess you could seek a court order instructing the directors to attend the Land Registry to effect the transfer. Or a court could appoint someone else to act on their behalf.

I assume there are no outstanding mortgages, unpaid tax bills or any other claims preventing the transfer?

Regards,

[yorkshireman]

In 2011 we obtained the N51 for our small development (3 properties). At that time it showed ICE as the owner of the land with 3 "Beneficial owners" - no mortgages or Memos. This week we obtained an update which showed 13 Memos and debts of over 1.7 million euros !!

[J B]

Just dragging this one up again, sorry

I just had this from one of the owners on our complex:-

Just got my Title Deeds - phew! - at last!!

D

Thought others may like to know.
PM me for more details if required

[darrow]

J B.
everyone on our complex of 12 have their deeds except for 5 of us, we are now waiting for the September 3rd extraordinary meeting where it is expected that the new law releasing Title deeds without prejudice will be passed, considering TROIKA has their arm up their backs! we should also benefit from the 50% reduction on transfer fees which will pay our lawyers fees if nothing else.

[Ageing Rocker]

J B.
everyone on our complex of 12 have their deeds except for 5 of us, we are now waiting for the September 3rd extraordinary meeting where it is expected that the new law releasing Title deeds without prejudice will be passed, considering TROIKA has their arm up their backs! we should also benefit from the 50% reduction on transfer fees which will pay our lawyers fees if nothing else.

If it's all one complex who is stopping the 5 getting their TD's as 7 have already got them?

[darrow]

tardy lawyer! at least it appears to have worked in our favour, for reasons stated!

[J B]

Dragging this up again as a 'heavy' (not my description!) has just stuck this to the door of our house.
It doesn't have my name or address on it, but that didn't seem to worry the guy, and he wasn't the sort to argue with

[Party-Jane.cy]

Having some difficulty reading that letter. Can I ask you if you have your title deeds - we bought from the same developer and managed to get our deeds about 8 months ago, it makes me wonder if we are to expect a visit too, or is it just people without their deeds?

[J B]

Having some difficulty reading that letter.

Sorry, it's a 'phone photo' that our friends took. I have asked them to scan it properly .... will await a better copy.

Can I ask you if you have your title deeds - we bought from the same developer and managed to get our deeds about 8 months ago, it makes me wonder if we are to expect a visit too, or is it just people without their deeds?

We've had our deeds for 3 (?) years
The letter was not addressed to us, it was just placed on the wrong house door.
I suspect it's just for people without deeds, but not sure.

[Party-Jane.cy]

I wonder if Nigel has any thoughts on this, maybe he will kindly make a comment.