I've posted here before about ongoing issues with a new build that is taking forever. Was due to complete late last summer and since then we've had little progress and nothing but further delays and excuses while I wait it out in rental accomodation having sold my old home.
But now, just when it looks like things are going in the right direction and water connection is finally about to happen in my phase I did a company check and have seen that the developer set up a holding company earlier this year.
Not entirely certain if this means anything in relation to my development, but given the timing and previous experience, I'm concerned it could it be a sign that he's run out of money and is about to go under? It's my understanding that the usual function of a holding company is to protect against risk/liability - does it sound fishy to you?
But now, just when it looks like things are going in the right direction and water connection is finally about to happen in my phase I did a company check and have seen that the developer set up a holding company earlier this year.
Not entirely certain if this means anything in relation to my development, but given the timing and previous experience, I'm concerned it could it be a sign that he's run out of money and is about to go under? It's my understanding that the usual function of a holding company is to protect against risk/liability - does it sound fishy to you?