What is happening at Juan Dolió??

Fernandez

Bronze
Jan 4, 2002
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Further developments> The investor group has now taken direct ownership of the shares Metro Country Club held in the operating company Operadora de Golf, S.A. The new shareholders now posses 29,900 shares of paid in capital- the previous President holds 100 shares. Attached is the Registro Publico that certifies the registration of the shares now in the names of the new majority shareholders.
The previous directors ship of ODG is best remembered by Hans Christian Anderson's famous children's book :

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Fernandez

Bronze
Jan 4, 2002
576
41
48
Metro Country Club is in complete disarray. EDEESTE - where the power company is said to be owed approximately 50 Million pesos, the DGII is owed a large sum, and the property owners in the community refuse to pay for services they are not receiving. The water quality is poor- the security is having problems, and there is a general lack of interest on the part of the administration. Operadora de Golf was recently taken over by new international investors, however it appears that Luis Jose Asilis- who has no authority left in the comany- has refused to turn over the administration and instead has established a parallel company Valerio Marion Administraciones SRL to subvert the operating income of ODG, and instead divert these funds to this entity. They had previously charged residents and property owners under the ODG invoice, and illegally settled those funds into an account of Metro Tours. Now, under Valerio Marion Administraciones, the bank Lopez de Haro opened an account and has reportedly been legally notified to not accept deposits into this account- as the funds are being illegally laundered to that entity. Legal actions, where Metro is said to owe the foreign investors over US$18 Million are now public knowledge and foreclosure on the golf course is to come in due course. The residents are fed up with overcharges and mismanagement, and the reputation of the development is suffering as a result of the association to Metro, its President and their unending web of legal problems and debt defaults. What a mess. Publicity in TV and radio are now to follow. However, it is often said that out of the darkness shines the light. Stay tuned.
 
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Reactions: Buzz65 and JD Jones

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
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Real estate (smaller projects) makes me smile every single day here in paradise :cool:,can't wait for another opportunity.
I've done well with them too. They are getting harder and harder to find as folks wise up that there's money to be made there.
 

Fernandez

Bronze
Jan 4, 2002
576
41
48
As if things could not get worse: Latest article May 3rd on Security.
Now there are reports that over the weekend another house was robbed, and while not confirmed, members of the actual security staff are being held responsible. What a mess this man has left behind.

 

Fernandez

Bronze
Jan 4, 2002
576
41
48
Creditors have taken over the Operations of Metro Country Club, though current MCC admin is trying to maintain control. This is soon to change over, and the new shareholders - having perfected their security interest in the shares of the operating company, look to turn around the MCC project and return it to propsperity. Not easy, but with the hard work and efficient management changes can be put in place that can dramatically add value.
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
Jan 7, 2016
12,702
8,992
113
Creditors have taken over the Operations of Metro Country Club, though current MCC admin is trying to maintain control. This is soon to change over, and the new shareholders - having perfected their security interest in the shares of the operating company, look to turn around the MCC project and return it to propsperity. Not easy, but with the hard work and efficient management changes can be put in place that can dramatically add value.

Not very clear.