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linw
Guest
Hi, I too have invested in India and have just heard about the Larionovo liquidation. I'd like to join the group too please.
Thank you
Hi, I'm another person who has invested in India. Who do I need to ring or contact to join the action group? Tks T.
Hi
Yes I was made aware of that last night, I started forming a group of investors a few weeks ago who were in the same situation as me. We now have to persue our claims through other channels that we have available to us.
If anyone wants to contact me please pm me
Anybody in the same situation please PM me .
I now have quite a few members joining the group and we have a lot of information and some very usefull contacts
Karen
i was just on the overseas cafe website, and they have the same address as Larionovo in Dublin.... what's this all about ?
Does this site belong to the the directors of Larionovo?
Hi Overseas,
Would it be ok to reproduce some or all of your excellent blog Larionovo Goes into Receivership here?
The Irish overseas property industry will be left reeling by another high profile casualty of the current economic crisis and the severe downturn in the Irish economy.
Well known Clare based overseas property agent, Larionovo, [broken link removed] for the last time on Tuesday evening and let go its 11 staff members based in Ennis and Baggot St., Dublin. The company was formed seven years ago by brother-in-law pairing Raymond Norton and Andrew Brett and had sold vast quantities of product in areas as diverse as Dubai, Hungary, Spain, France, India and Portugal.
The company was well known for its high profile campaigns on TV, radio and in the press, taking the sale of overseas property by an Irish company to a new level. Unfortunately, under current financial realities the company's business model would appear to have become redundant.
The company was also the main Irish agent for Martinsa-Fadesa, the giant Spanish builder which filed for bankruptcy during the summer.
Larionovo has also been the source of much frustration, vented liberally on the Joe Duffy show last week, with relation to several projects in [broken link removed] that it decided to abandon. Purchasers in the Green Valley, Hill View and Cape Corinth projects, by developer Sigrun, have been promised refunds of their initial deposits, but many have not materialised yet and investors are, understandably, getting very worried. The subject is also the cause of much posting on various threads on the Ask About Money forum.
Larionovo's demise should not actually make much difference to clients who bought through them, as the company didn't build any property. All contracts should be with the developers from whom the property was bought and so, presuming the developers are capable of building the projects, should still complete. Clients will, however, obviously not receive any supplementary services which might have been provided by the agent such as furnishing, rentals, etc. There is also the worry that, with the agent now out of the loop, Sigrun may decide not to refund deposits collected by it. Only time will tell.
The receiver appointed is [broken link removed]. If anyone has any queries they should contact Paul McCann on 01 680 5805.
Any way you look at it this is another large nail in the Irish overseas property industry coffin which leaves no doubt as to just how fragile the market is at this point in time.
This isn't the end for Norton and Brett in terms of overseas property. The pair are also directors of Profile, a Dubai based company which is currently working on development work in the Emirate and has also been instrumental in the purchase and ongoing development of the islands of Ireland and Thailand in The World development in the Arabian Gulf.
Overseas, might we all be forgiven for thinking that you perhaps have an axe to grind here?
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 [broken link removed].
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