- Thread starter cobraboy
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ANOECA Alberto Noesi
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Alberto gives the following options to his investors in his April 28 email.
He is only offering specific raw land assets in Sosua and Cabarette. Imagine trying to get clear title. He fails to acknowlege a third option. Liquidation of all assets.
There are some good points being made in this thread, but still too many people who nothing at all about the situation posting wild speculations which are way off target, plus the same one or two posters (maybe competitors?) bitterly pursuing a personal vendetta.
Malicious rumors do nothing to help the victims of this d?bacle, while the basic facts, which even Anoeca have publicly admitted, should be enough to deter any new investors from getting burnt, since Anoeca's credibility among non-Dominicans is destroyed for at least a decade, and possibly forever.
Malicious rumors do nothing to help the victims of this d?bacle, while the basic facts, which even Anoeca have publicly admitted, should be enough to deter any new investors from getting burnt, since Anoeca's credibility among non-Dominicans is destroyed for at least a decade, and possibly forever.
i tossed out the idea of somehow importuning Alberto, legally, to partition the La Roka complex, and hand over ownership of units to his creditors, who would at least have a piece of property which could generate income. i couched it in the form of an idea, moreso a question, since i am not familiarwith the legal intricacies that would be involved in such an initiative. i see where my posting was deleted, and the moderator made mention of ?idiots?, and what will eventuate when they post ideas he finds to be, obviously, idiotic. a very interesting approach, Robert, wherein you have elected to insult and excoriate people who make comments which are intended to be innocuous, and bereft of intended mischief. right on.
so,Robert, into which category would you say that my posting fits, if you are using london?s insights as a guidep?st?
If you're an investor and have something insightful or factual to post, go right ahead.
If not...
Do yourself a favor and keep out of the thread.
Don't bother responding, it will be deleted.
Next...
Well for a start. Do you know for sure that Alberto or Anoeca even owns La Roka, because my information has always been that another well-known local "character" owns it? It could be that Alberto has purchased it fairly recently, but that seems unlikely given his financial situation.
If Alberto does own it, I don't think your suggestion is absurd (though there would be many contractual and legal problems having multiple owners), but isn't that, in principle, what Anoeca are doing at present anyway? Offering assets at book value in return for cancellation of their debt? The suggestion is that they should be offering them at below "book value" (fire sale prices) but that would be unfair to those who have chosen to leave their capital with Alberto in the hope of being repayed some day in the future.
His investors have every right to curse Alberto for his reckless mismanagement of the business, but it doesn't make sense to expect him to help out one batch of his investors at the expense of another batch by disposing of his assets in a panic at rock bottom prices.
If Alberto does own it, I don't think your suggestion is absurd (though there would be many contractual and legal problems having multiple owners), but isn't that, in principle, what Anoeca are doing at present anyway? Offering assets at book value in return for cancellation of their debt? The suggestion is that they should be offering them at below "book value" (fire sale prices) but that would be unfair to those who have chosen to leave their capital with Alberto in the hope of being repayed some day in the future.
His investors have every right to curse Alberto for his reckless mismanagement of the business, but it doesn't make sense to expect him to help out one batch of his investors at the expense of another batch by disposing of his assets in a panic at rock bottom prices.
i am an investor. A fool. call me what you will.
Alberto told me that many of his properties do not have his name upon them. There are 3
la roka
la boca
Proyecto abita
I am extremely worried that Albertos name does not appear on these documents and yet he said to me you come in you sign and you go. Im sorry i dont buy his bull****. I do not understand why his name is not upon these properties and how he can sign them over? can someone explain to me. How do i know he isnt double selling these properties creating untold confusion? is he showing the location EXACTLY of these properties?
Alberto told me that many of his properties do not have his name upon them. There are 3
la roka
la boca
Proyecto abita
I am extremely worried that Albertos name does not appear on these documents and yet he said to me you come in you sign and you go. Im sorry i dont buy his bull****. I do not understand why his name is not upon these properties and how he can sign them over? can someone explain to me. How do i know he isnt double selling these properties creating untold confusion? is he showing the location EXACTLY of these properties?
london, thanks for stating that my suggestion is not absurd. i am fully aware that Robert might very well strike my response, but, here goes nothing. if Alberto DOES own La Roka, and his name appears on the deed, is there any legal way to importune him to part it out? i am aware that since it might have been paid for, in part, by other investors'money, the ownership becomes a tricky question, in that other investors would contemporaneously be penalized, should he be made to go that route. and , Robert, i do not think that the fact that i do not have money invested in the debacle should disqualify me from the right to state an opinion. then again, it is your site, so i guess that what you say goes, unconditionally.
Ok people its time to wake up.According to my lawyer it is illegal for any body except banks to issue CDs.So your papers are worth nothing if Alberto wants them to be. I have been waiting on my principal 8 months and all I get is one lie after another.He is going to court on the 30th for 4 counts of fraud. I know the man taking him to court so this is not a rumor. The only way WE can get to Alberto is to go outside the DR. WE have to contact the media in all other countrys and tell them not to invest in the DR. Point out that the DR goverment has allowed Alberto to run an illegal company for about 25 years.Sence the govermenr has allowed Alberto to do this, they we allow anybody to. If we do this, the goverment will look bad to outside investers.Then maybe the goverment will knock on Albertos door and he will be forced to do something.
i could not agree with you more, timc. drastic diseases require drastic medicine. someone should get some international reporter to do a full page spread on this matter, and plaster it all over international media. maybe the government would wake up, and force his hand. should they fail to do so, they would be tainted with the stench of complicity, which might have detrimental repercussions upon future decisions by prospective investors to this country. sitting idly by,and allowing this thing to meekly wind down into nothingness, is not the answer. if there has been malfeasance, as opposed to plain idiotic business planning, it calls for a herculean attempt to do whatever it takes to right this wrong. i have buddies who have lost their entire life savings with this guy, and will have to go back home, to lives of uncertainty, and despair. it may be rightly contended that they made questionable decisions, to put all their eggs in one basket. that does not exculpate the principals of this operation, if , in fact, they were running a Ponzi scheme, as some onlookers contend.
So if the papers are worth nothing, care to explain why Anoeca have not closed the doors and told all the investors to go **** themselves???
Seems to me that they are trying to do everything possible to rectfiy the situation by taking sensible business actions, albeit somewhat late.
But be careful what you wish for.
IMO any DR govt. intervention, even if possible, would result in feeding frenzy on Anoeca assets by corrupt lawyers, 'advisors', and most certainly and most importantly DGII, the taxman.
Thereby seriously reducing the availability of assets to satisfy the investor/creditor liability.
Is that what you are sugeesting?????
Really, you are a drama queen.
Who exactly has 'lost their entire life savings'?????
Seems to me that to date, although investors are not getting their interest payments, and may be faced with making choices regarding trading their money for real estate, precisely no-one has lost a single penny of their investment principal.
Care to contradict that? I won't hold my breath.
That is like the saying it is not a loss if you never sell the stock.
People don`t have access to their cash and it seems like they won`t any time soon, if ever.
This is a disaster!!!
Perhaps they might get options on desirable real estate at reasonable prices but if this were so, why can`t these properties be sold and people given their cash?
It is quite likely that the required prices to make people whole are not even remotely close to the reality of the market.
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