El Patron

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cobraboy

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As an owner, if not hands on, who did you entrust the "said maintenance of equipment" to?
We had a guy than handled all our mechanicals for our house and rentals. He didn't work for a heat/ac company, but had a licence to buy parts wholesale. This is very common in that part of FL for folks on the water.
 
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tripp789

Guest
Just catching up with this thread. Am I reading it right that Finn McCools is shut down?


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the gorgon

Guest
I think that’s wrong, but feel free to correct me. I’ve never been through the process for myself or another, thankfully.

Bail is paid to the court, and upon showing up for trial it is returned. If a person has sufficient funds, they pay it themselves (or someone else does on their behalf).

If they don’t have or can’t find someone to post bail, then yes there are private companies that will loan money for a fee and post a bail bond with the court.

check this article and see if it corrects you....

https://www.politifact.com/californ...us-philippines-only-two-countries-money-bail/
 
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windeguy

Guest

Then there is this:
Investigation and bail
The district attorney (fiscal) receives the initial claim filed against you if you are accused or suspected of committing a crime. He/she will also conduct the investigations necessary to press charges. When presented with a claim, the district attorney may allow the parties involved to reach their own agreement regarding their case. If this is not possible, the case will either be forwarded to an investigating judge (juzgado de instrucción) or dismissed, if there is insufficient evidence to support the claim.

Once the case is presented to an investigating judge, the court decides if there is sufficient evidence to order continued detention until the prosecution (Ministerio Público) concludes its preliminary investigation. This detention can last three months, or up to 12 months for complex crimes. Depending on certain factors, the preparatory phase may be even longer. The judge will set a date for a preliminary hearing, during which the evidence gathered will be presented.

You may request bail at any time during this process. In reviewing a bail request, the judge has significant discretion and will consider the type of crime, your criminal history and any risk that you will flee. Bail is less likely to be granted if you are charged with serious crimes such as murder, money laundering or narcotics trafficking. Note that the Dominican criminal code does not distinguish between narcotics possession for personal use or for sale and distribution. You should consult a lawyer to find out how bail may apply to your circumstances.
https://travel.gc.ca/travelling/advisories/dominican-republic/criminal-law-system#investigation

There seem to be at least 3 countries with a bail system.
 
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mobrouser

Guest
Almost all countries have a bail system.
The question is whether is is "for profit"?
The suggestion is that US and Phillipines are the only countries where the majority of bail funds issued are supplied by "for profit" entities.
 
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zoomzx11

Guest
zoomer, most electrical equipment has forced-air cooling fans, fridges and a/c. Heating equipment creates its own updrafts, forcing cooler air from the ground upwards.

And all that air has salt attached to tiny molecules of water.

It doesn't matter much to metal restaurant electro/mechanical/heated equipment whether the wind is strong or not: the corrosive salt is there no matter what. Once equipment as a layer of sdalt, it really doesn't matter how much more salt there is. And unless an area is in a vacuum, if there is air, there is salt. Add electricity and dissimilar metals and corrosion will be accelerated.

A personal example: I lived on Boca Ciega Bay for 13 years. I had 3 a/c compressors outside within 30 feet of the bay, and all the air handlers inside. I had refrigerators, freezers, ice makers and all manner of machiners inside in a "climate controlled" environment. The equipment inside suffered only slightly less corrosion than the outside, except for stainless steel components. Most equipment inside had to be replaced or major components replaced every five years along with outside compressors.

Now one neighbor, who owned a cool machine shop, fabricated an interesting set-up for his outside a/c units. He had a pressurized mist sprayer on a timer that cleaned potential corrosion problem areas every six hours, and his set-up seemed to work. He'd have dead vegetation all around the cement base where the water ran off leaving salt crystals. Nothing grew there.

The only way to extend the life of that equipment is regular washing and maintenance on the parts prone to corrosion. If you don't do said maintenance, the equipment will rot.
From Frank 12s description of the restaurant equipment in question washing off the salt would not be possible.
Connecticut cannot be compared to Cabarete.
An ocean breeze in Connecticut is nothing compared to a 30 knot normal summer afternoon on Cabarete Beach.
The powerful breeze coming off the ocean in Cabarete will force the salt into every nook and cranny.
No metal will escape the corrosive effect. Wire connections in the walls will corrode by strong wind driven salt air.

Living in the Florida keys my outside ac compressor would corrode rapidly.
I was able to make the unit last much longer simply by moving it out of the prevailing wind to the other side of the house.
 
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frank12

Guest
From Frank 12s description of the restaurant equipment in question washing off the salt would not be possible.
Connecticut cannot be compared to Cabarete.
An ocean breeze in Connecticut is nothing compared to a 30 knot normal summer afternoon on Cabarete Beach.
The powerful breeze coming off the ocean in Cabarete will force the salt into every nook and cranny.
No metal will escape the corrosive effect. Wire connections in the walls will corrode by strong wind driven salt air.

Living in the Florida keys my outside ac compressor would corrode rapidly.
I was able to make the unit last much longer simply by moving it out of the prevailing wind to the other side of the house.

Exactly!

And to reiterate what i already mentioned, O'Shay's had eight televisions around the bar and restaurant. The two with their backs facing the ocean (on the corners of the bar) never lasted more then 1.5yrs. One only lasted 3-months. While the other tv's with their screens facing the ocean and their backs facing the inner walls of the restaurant would last double to triple the time. One lasted as long as 6yrs--but that one was located further inside the restaurant and sat in the corner, near the hallway that led to the street.

In other words, a simple 15ft inside the restaurant--and with its back facing the wall--allowed it to outlast every other TV by 2 to 4-times as long.

One last thing. There would be no way for Rocky-when he bought the restaurant--to dissemble each TV and appliance--over 15-refrigerators, stoves, freezers, slicers, etc. and inspect each and every one. Hence, getting in writing that all the appliances were in "Good" working order.

That's what contracts are for...to re-assure and give the buyer some form of legal recourse in case things are not what they are said to be.
 
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windeguy

Guest
Just catching up with this thread. Am I reading it right that Finn McCools is shut down?


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I read earlier in this thread that it is closed and a for sale or rent sign is up.
Who owns the location?
 
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carlos

Guest
Frank,

I think you have provided some valuable information for those that wanted to know what was going on with this situation and also to explain the challenges that beach properties present.

I have one question/comment. You mentioned that the buyer was unable to inspect the equipment because it would require to break the wall to remove it. After the sale was finalized you also mentioned that the restaurant was closed for renovations which included breaking through the walls to fix the floor and then to service the equipment and this is where the issues were discovered.


It seems that the new owner realized what work was needed during an inspection so he may have known that the wall needed to be broken to fix the floor.

Knowing this in advance why not come to an agreement with the seller on breaking the wall beforehand so he can check the equipment?

Break the wall before finalizing a deal and if the equipment is fine then he buy the business and he would have to do a renovation anyway so no harm.

Break the wall and he would have found the defect and worked something out. If seller does not agree with condition on equipment and thought it was ok then an agreement to help pay and put the equipment back and no deal.

No deal and you lose a bit of money but that should have been incorporated into the cost of doing this business.


Doing your due diligence is part of doing business even if you back out and lose what it cost to conduct that due diligence. Putting into a contract that the equipment is in good condition is riskier and made no sense when the buyer is giving 600,000 US dollars upfront.

Please excuse if I misunderstood anything.

thanks
 
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mobrouser

Guest
Then the seller would have to close the business while waiting for the purchaser to decide whether to complete the deal and for the deal to finalize. Doesn't make business sense to me.
 
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carlos

Guest
No, you finalize the deal pending a final inspection. You draw out the scenario of what happens after the inspection. Either it passes or fails. It fails, then the seller agrees to pay to get equipment fixed/refurbished.

If I am going to buy a business and give 600K upfront then I am going to make sure I do my due diligence. You close the place down and get the equipment out. An independent company will inspect and confirm final result.


The thought to shut down temporarily is what causes many to make this mistake. You have to think Macro rather than Micro depending on the investment. In this case it would have made sense to do so especially since the buyer knew he was going to shut down anyway.


Think about where they are today. Restaurant is shut down.

my opinion and wish both of them good luck in their future.
 
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mobrouser

Guest
Not many sellers would go for it, especially a restaurant.

That final inspection means closing the restaurant, and if the deal doesn't close the seller has a non-functioning restaurant.

Get your cash out as fast as possible is the goal, and don't give the purchaser any options to back out regardless of the deposit that was laid out with the offer. The deposit won't cover your costs while you wait months/years for another sucker, I mean purchaser, to come along.
 
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cavok

Guest
There's a million ways to structure a contract. Not saying that Frank would have gone along with it, but there could have been a clause in the contract that, in case of any defects in the equipment discovered within 10 days of the sale, an adjustment to the $200K would be made to cover repairs, limited to, say, $25K.
 
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Big

Guest
must be a lot of malfunctioning business deals in Cabarete. Walking on the beach and road yesterday I observed numerous businesses closed, boarded up and for sale signs posted.
 
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frank12

Guest
Frank,

I think you have provided some valuable information for those that wanted to know what was going on with this situation and also to explain the challenges that beach properties present.

I have one question/comment. You mentioned that the buyer was unable to inspect the equipment because it would require to break the wall to remove it. After the sale was finalized you also mentioned that the restaurant was closed for renovations which included breaking through the walls to fix the floor and then to service the equipment and this is where the issues were discovered.


It seems that the new owner realized what work was needed during an inspection so he may have known that the wall needed to be broken to fix the floor.

Knowing this in advance why not come to an agreement with the seller on breaking the wall beforehand so he can check the equipment?

Break the wall before finalizing a deal and if the equipment is fine then he buy the business and he would have to do a renovation anyway so no harm.

Break the wall and he would have found the defect and worked something out. If seller does not agree with condition on equipment and thought it was ok then an agreement to help pay and put the equipment back and no deal.

No deal and you lose a bit of money but that should have been incorporated into the cost of doing this business.


Doing your due diligence is part of doing business even if you back out and lose what it cost to conduct that due diligence. Putting into a contract that the equipment is in good condition is riskier and made no sense when the buyer is giving 600,000 US dollars upfront.

Please excuse if I misunderstood anything.

thanks

Carlos,

It would be impractical--possibly impossible--to close a business down, destroy a wall, pull everything out of the kitchen, and then take the equipment apart, one by one, and inspect the internals.

That process is unrealistic, and quite frankly, i don't know anyone who would go for it.

To clear another thing up: there were two contracts: one was for the property for $675,000 dollars that Rocky paid in full, with several people present, including the lawyers.

Bam, one lump sum: $675,000. "Vær så god!"

The second contract was for the restaurant & equipment for $200,000 dollars, and that was to be paid monthly. However, as mentioned numerous times already, that was with the contingency that the restaurant equipment was in "good working condition." It was not.


Round 2


I don't blame Big Frank for this no more then i would blame anyone else. Until the equipment was physically taken out of the kitchen, completely taken apart, and the internals inspected (no easy process, which is why everything needed taken out of not only the kitchen, but also from behind the bar, and several more refrigerators and freezers deep inside two separate hallways that run parallel to the restaurant.)

At this point, everything was documented with photos. All the equipment was thoroughly photographed not just by me, but by other people as well.

Now, at this point, with everything well documented, it really should have been a simple sit down, re-negotiate the difference between the replacement of the equipment and the $200,000.

I documented it pretty thoroughly in my book: "Sun, Salt, & Hurricanes." No, it's not a plug for the book, it's just a fact that i devoted many chapters to it.
 
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Caonabo

Guest
I read earlier in this thread that it is closed and a for sale or rent sign is up.
Who owns the location?

I believe it is owned by a lovely Chinese couple from a northern province. Possibly Hebei or Shanxi.
 
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chico bill

Guest
I believe it is owned by a lovely Chinese couple from a northern province. Possibly Hebei or Shanxi.

And the world will beat a path to the beach for some Pica Pollo crap instead of the promised Mexican faire.

Next question - Where is Big Frank. With the closing of his Finn restaurant ( calling it a restaurant is a stretch) - Is he confined here until the hearing or can he get on a float plane for Puerto Rico - myself if I had cashed out I would be on the next bus for Haiti or sailboat to Puerto Rico. My guess is someone who has traveled as much as Frank - would have a passport card or second passport ?

Of course Finn's is for sale or rent, so maybe he has money tied up there but he stands to lose a bigger sum in court. Maybe he didn't get his cash out of DR and that got seized ?
 
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windeguy

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Sosua location owners (Fin's) are Chinese

And the world will beat a path to the beach for some Pica Pollo crap instead of the promised Mexican faire.

The response to my question of who owns the building were Big Frank had his now failed business in Sosua was a Chinese couple.

The location on Cabarete beach is the one that is in the courts where a man who lived in the DR for decades still allowed himself to be screwed by a lawyer and El Patron is on hold, etc.

I don't think there is any Chinese involvement in the Cabarete case. :beard:


Next question - Where is Big Frank. With the closing of his Finn restaurant ( calling it a restaurant is a stretch) - Is he confined here until the hearing or can he get on a float plane for Puerto Rico - myself if I had cashed out I would be on the next bus for Haiti or sailboat to Puerto Rico. My guess is someone who has traveled as much as Frank - would have a passport card or second passport ?

Of course Finn's is for sale or rent, so maybe he has money tied up there but he stands to lose a bigger sum in court. Maybe he didn't get his cash out of DR and that got seized ?

I suspect at best Big Frank is forced to remain in the DR until the courts are done with the case(s). But nobody seems to know exactly where he is. A yola to PR, perhaps, would be his best plan of action to avoid what the future brings. An exit through Haiti is a good suggestion. These cases take time, sometimes years, to get through while the lawyers and courts suck every last peso they can get from the clients.

Signing a legal document that everything was in good order without knowing it was in good order does not incur blame, Frank12? Is that how you spin it in your book? If so, that is nonsense.
 
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