Coco Palm Villas

[Pilchard]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

While having Sunday lunch no doubt

"be a good chap and pass the special sauce"

[SamuiJens]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

While having Sunday lunch no doubt

"be a good chap and pass the special sauce"

Aprils fools!

[Rooo]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

While having Sunday lunch no doubt

"be a good chap and pass the special sauce"

Aprils fools!

Samuijens,April fools jokes take place on the same day where I come from & finish at midday.Playing with people's reputation is not part of a joke in my book.Imagine how many people have heard about it & don't have access to your declaration today.

Causing people heartache is not funny,the guy (Beerguy) could have gone & done something drastic.That would have been real funny.

[SamuiJens]

CoCo will declare it's bankrupt, the 1st of next month, from a special source.

While having Sunday lunch no doubt

"be a good chap and pass the special sauce"

Aprils fools!

Samuijens,April fools jokes take place on the same day where I come from & finish at midday.Playing with people's reputation is not part of a joke in my book.Imagine how many people have heard about it & don't have access to your declaration today.

Causing people heartache is not funny,the guy (Beerguy) could have gone & done something drastic.That would have been real funny.

Just an answer to Pilchard.

[beerguy]

Worst excuse for an aprils fool day joke I've ever heard.......

I need hard answers not jokes !

[John 1]

Beerguy, If you have invested 1,000,000bt I would say forget about it, it will cost you more than that to maybe get nothing, if it more than that you should be getting answers from a lawyer, you won't get anything reliable from this forum as you should realise by now.

[beerguy]

I'm in for about 3m baht at this point......Looking into a lawsuit as we speak.....

[Rooo]

I'm in for about 3m baht at this point......Looking into a lawsuit as we speak.....

So BG are you confirming that they are going bankrupt?

[beerguy]

No, unable to get any answers but preparing for plan B

[beamer]

No, unable to get any answers but preparing for plan B

Beerguy , Have you established a Thai Holding Company and submitted an annual report for the past 24 months ?

When was the last time you saw your current status of your villa construction ?

[Charma]

Beerguy

I am rather surprised that you are still asking for information on this thread. I have PM'd you three or four times offering information, but have not had a reply. Either the PM's are not getting to you , or you do not really want the information. Perhaps you may appreciate that not all of us on this forum wish throw information out on to the public forum (samuijens) without realising that it may have an impact on individuals and their situations.

Anyone wishing to exchange information with me is free to PM me.

[beerguy]

Charma, sorry but although I have gotten many pm's I haven't gotten yours.

I'll try pm to you.

Beamer, I went the leasehold route and saw the villas very recently.

[Charma]

Charma, sorry but although I have gotten many pm's I haven't gotten yours.

I'll try pm to you.

Beamer, I went the leasehold route and saw the villas very recently.

Beerguy - PM reply sent

[beerguy]

reply returned.......

[hecky]

in coco blues last night so if they are going under on the 1st it cetainly did not look that way. plus the Chinese restuarant was also open. i suspect just the old romour mill again. reliable source not so reliable

[Samuidreamer]

Hi to everyone on this forum - i have only just come across it.

I have been involved with the project as an investor (idiot maybe.) from almost the very beginning. I am now no longer based in Asia so tracking what is going on is difficult to sday the least.

I would share my knowledge / experience of the matter as follows:

1. If CoCo was going bankrupt then there is nothing all of us can do about it..the money has already gone!

2. Contract law is almost not worth the paper it is written on ( I see that know!) . If you try to sue for breach of contract - technically you will be correct but the lawyers could drag this process out for years by which time you will have spent more than you invested and there will be nothing left in the CoCO kitty if you win.

3. I thankfully used Bangkok lawyers to assist me and as a result am in a stronger position than most.

4. The Palm Villas project is a nightmare for all sides now. The deposit money has been blown on other futile businesses and now that the land separation issue has all but ground to a halt there is a real problem with how that will be addressed by CoCO going forwards. Pretty much investors have no legal asset right now.

5. Is COCO going bangkrupt. I hope not and I dont think so. I believe that the 2 figure head gentlemen will play less of a (incompetant) role and that some other people are calling the shots and looking to salvage a dire situation.

6. I believe some financing may be around the corner and that asset sales will hopefully allow building to restart and the project to be finished.

My dream too has been spoilt and it leaves a very bad taste in my mouth - even if it become finished.

[stevieff]

Hi to everyone on this forum - i have only just come across it.

I have been involved with the project as an investor (idiot maybe.) from almost the very beginning. I am now no longer based in Asia so tracking what is going on is difficult to sday the least.

I would share my knowledge / experience of the matter as follows:

1. If CoCo was going bankrupt then there is nothing all of us can do about it..the money has already gone!

2. Contract law is almost not worth the paper it is written on ( I see that know!) . If you try to sue for breach of contract - technically you will be correct but the lawyers could drag this process out for years by which time you will have spent more than you invested and there will be nothing left in the CoCO kitty if you win.

3. I thankfully used Bangkok lawyers to assist me and as a result am in a stronger position than most.

4. The Palm Villas project is a nightmare for all sides now. The deposit money has been blown on other futile businesses and now that the land separation issue has all but ground to a halt there is a real problem with how that will be addressed by CoCO going forwards. Pretty much investors have no legal asset right now.

5. Is COCO going bangkrupt. I hope not and I dont think so. I believe that the 2 figure head gentlemen will play less of a (incompetant) role and that some other people are calling the shots and looking to salvage a dire situation.

6. I believe some financing may be around the corner and that asset sales will hopefully allow building to restart and the project to be finished.

My dream too has been spoilt and it leaves a very bad taste in my mouth - even if it become finished

What about a class-action suit? That way the legal costs are far diminished for the individual owners. Problem is finding the investors, but a good attorney should be able to do that

[Samuidreamer]

What about a class-action suit? That way the legal costs are far diminished for the individual owners. Problem is finding the investors, but a good attorney should be able to do that

I am not a lawyer , ok.. but I would have to say that a class action suit is only of use where the company concerned can be proven to have been negligent etc and has the finances to pay for losses incurred and then damages ontop for being 'naughty'. I do not see CoCo as a company falling into this description. The reason we are all in this 'annonymous' hole is because they have no money - they blew it on frivalous investments.

I would have thought that should bankruptcy occur and losses be significant collectively, then a criminal charge of misappropriation of funds or fraud is more likely. BUT to move it from contract law to criminal law is the point.

Would the authorities be inclined to get involved in case it tarnished Thailands growing inward investmant...Personally I doubt it . They would see it as greedy foreigners (who shouldn't own land anyway) being ripped off by greedy foreign businessmen..not Thailand's problem!

Edited April 5, 2007 by Samuidreamer

[beerguy]

Hi to everyone on this forum - i have only just come across it.

I have been involved with the project as an investor (idiot maybe.) from almost the very beginning. I am now no longer based in Asia so tracking what is going on is difficult to sday the least.

I would share my knowledge / experience of the matter as follows:

1. If CoCo was going bankrupt then there is nothing all of us can do about it..the money has already gone!

2. Contract law is almost not worth the paper it is written on ( I see that know!) . If you try to sue for breach of contract - technically you will be correct but the lawyers could drag this process out for years by which time you will have spent more than you invested and there will be nothing left in the CoCO kitty if you win.

3. I thankfully used Bangkok lawyers to assist me and as a result am in a stronger position than most.

4. The Palm Villas project is a nightmare for all sides now. The deposit money has been blown on other futile businesses and now that the land separation issue has all but ground to a halt there is a real problem with how that will be addressed by CoCO going forwards. Pretty much investors have no legal asset right now.

5. Is COCO going bangkrupt. I hope not and I dont think so. I believe that the 2 figure head gentlemen will play less of a (incompetant) role and that some other people are calling the shots and looking to salvage a dire situation.

6. I believe some financing may be around the corner and that asset sales will hopefully allow building to restart and the project to be finished.

My dream too has been spoilt and it leaves a very bad taste in my mouth - even if it become finished.

I would be careful slinging accusations like the money was spent on other ventures. If you in fact have a Bangkok lawyer he will have shown you evidence that this was not the case as pointed out in a fairly recent audit of their books.

As far as financing being around the corner.........it's been around the corner for two years even though this concept was originally floated as a self-financed project that didn't need the monies of its investors.

Would love to see this project finished as it would be a great value for money as I've said in the past, however, I personally don't hold to much hope in that happening and am moving on to other properties elsewhere in the world as Thailand is in a difficult position as a whole with their new government.......

[Samuidreamer]

I would be careful slinging accusations like the money was spent on other ventures. If you in fact have a Bangkok lawyer he will have shown you evidence that this was not the case as pointed out in a fairly recent audit of their books.

As far as financing being around the corner.........it's been around the corner for two years even though this concept was originally floated as a self-financed project that didn't need the monies of its investors.

Would love to see this project finished as it would be a great value for money as I've said in the past, however, I personally don't hold to much hope in that happening and am moving on to other properties elsewhere in the world as Thailand is in a difficult position as a whole with their new government.......

Hi Beerguy,

Yes thank you I do have a Bangkok , well actually and international law firm doing my work for me. It has been expensive and getting more so but I have a proper contract and that has enabled me to just about get to the top of the pile when it comes to who they respond to now. I may be at the top - but that does not necessarily mean I come out ok!!

Re-financing ..yes that story has been going for some time now..always next week, always just one more little problem. BUT - I am confident something is in place and coming shortly. Without it I give the place 2 months.

Re misappropriation of funds...well my money for completing my 2 houses has not gone on them for a start and so many others that I hear from. Could you explain to me where the millions of dollars for the Blues festival, the sea plane, the renervation of the Blues Bar, China House..the list is a long one...may have possibly come from...

If you are looking elsewhere to buy now one thing I would say is pay up to get a international law firm to go over the contracts. Insist on severe penalty clauses for non performance etc and stick to those clauses and timetables. Without that your position is weakened to the point of being almost worthless in a case of insolvency. I have learnt that the hard way.

[beerguy]

It appears the financing has been resolved and building should start up once again by the end of the month.

Oh, I surely hope so......................

[CocoBuyer]

Samuidreamer and Beerguy, please check your messages.

Thanks.

[maurizio04]

Huge mess....

Last year i had a slight idea to buy a villa in Samui but the Thai Law and the skyrocketing price mad eme change idea...

On the other end resorts price are going up every year, i would say 500 bath more every peak season for medium level places...

Thailand is still cheap but it will not be forever, particular using the dollar. With Euro we are happy, even it seems that the Bath is going up against the dollar for no apparent reasons.....

-m

[Rooo]

It appears the financing has been resolved and building should start up once again by the end of the month.

Oh, I surely hope so......................

Any more updates?

[taxexile]

wasnt there an attempted assassination on one of the german company owners recently ??????

[sbk]

wasnt there an attempted assassination on one of the german company owners recently ??????

The wife of the owner of Coconut Land & House was murdered, no indication he was the target since the gunman came looking for her specifically. Are they the same then?

[Rooo]

wasnt there an attempted assassination on one of the german company owners recently ??????

The wife of the owner of Coconut Land & House was murdered, no indication he was the target since the gunman came looking for her specifically. Are they the same then?

No SBK, they are different. Coconut land & House ( The shooting),Legal battles with residents of their Santithani development.

Coco Palm Villas (division of Coco's)Very strong indication that financing has fallen through.

Oh how the mighty have fallen. But then I suppose they have all their money stashed away,leaving the little guys holding the bag.

[LaoPo]

wasnt there an attempted assassination on one of the german company owners recently ??????

Missing the Sunday tabloids, Tax ?

LaoPo

[taxexile]

Missing the Sunday tabloids, Tax ?

yes , thats why i read the koh samui forum , it beats them all hands down.

Edited July 22, 2007 by taxexile

[LaoPo]

Missing the Sunday tabloids, Tax ?

yes , thats why i read the koh samui forum , it beats them all hands down.

You beat me....you're right...even the Beckhams are in the Samui tabloids

Who's next? Tony Blair, Prince William...Tax Exile runners...who knows?

LaoPo