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Property of the Week

Balcon del Mar
1 and 2 bed apartments, 10 minutes from the beach
Prices from: € 110,000

IMPORTANT INFORMATION FOR INVESTORS WITH INROAL S.L. AND PROMOCIONES 2005 S.L.

After been made aware of irregularities in some of the developments marketed and sold by the above mentioned companies, Inroal and Promociones 2005, clients understandably began to feel uneasy and refunds were requested. To try to ascertain what was actually happening with Inroal and Promociones 2005 proved to be quite difficult.

Regarding requests for refunds, both Inroal and Promociones 2005 repeatedly give us written and verbal guarantees that monies would be refunded along with the accumulated interests and compensation. Unfortunately, after many broken promises and non compliance to requests from ourselves and lawyers, we now have to take much tougher action against Inroal and Promociones 2005.

As it will be quite difficult to keep everyone updated by phone and/or email this web site will be updated on a regular basis and all affected clients will be notified by our lawyers via registered mail very shortly explaining our plans in detail.

The legal process in Spain can be slow but it is effective. We are hoping that the severe action taken by our lawyers will put pressure on Inroal and Promociones 2005 to reach a satisfactory conclusion for our clients, rather than face a lengthy and costly court case with a potential penal conclusion.

We have advised both the British Consul in Malaga and the Irish Embassy in Madrid about the situation and the steps we are taking to recover our clients' monies.

Any queries regarding this situation can be directed to us by email, telephone or fax at the numbers below.

E-mail: customerservices@simpleoverseas.com

Telephone: 0034 952 565 016

Fax: 0034 952 449 953

UPDATE INROAL S.L. (12 Dec 2007)

On Monday, 10th December, legal proceedings were formally taken against Inroal S.L. These proceedings are against the new and previous administrators of the company.

The new administrators had previously requested a meeting with Simple and their legal representatives for Tuesday 11th December.

As a result, a second meeting is now arranged for Tuesday, 18th December when Inroal S.L. will submit proposals to resolve the situation.

As our legal action continues we will have a parallel approach; legal and negotiation.

After next Tuesdays' meeting we will further update this page with details of Inroals' proposals and also our lawyers' suggested strategy which will be made available to all our clients who wish to avail of their services. This is when clients will also be contacted by registered mail.

UPDATE INROAL S.L. (04 Jan 2008)

In Spain, the new working year, 2008, begins on January 8th. We have been in contact with our lawyers constantly since our last meeting with Inroal and Promociones 2005, but, because of the dates, we will not be able to fully update our website until after the 8th as it has been difficult to communicate, as we would wish, with Inroal and Promociones 2005.

UPDATE INROAL S.L. (08 Jan 2008)

As mentioned in our update of December 12th we are continuing our parallel approach of legal action and negotiation to resolve this situation. Unfortunately, Inroal and Promociones 2005 are slow to come up with any guaranteed proposals. Our lawyers, whose details are below, are now finalizing the legal details and will be in contact by registered mail to all affected clients within the next 7 days. This letter will inform clients of the exact legal situation and, should they wish to avail of their services, the steps to be taken.

AGUERA & ARREBOLA (Solicitors)
Avda. Saenz de Tejada s/n,
Edificio Fuengirola-Centro II,
29640 Fuengirola (Malaga)
Spain

E-mail: info@aguera-arrebola.com
Tel: 952 460 177 Fax: 952 464 769
English spoken. Opening hours 09.00 - 18.00 Mon-Fri (uninterrupted)

UPDATE INROAL S.L. (15 Apr 2008)

Inroal and Simple Property Group were finally called before the courts in Almeria on Tuesday, 15th April, and the judge appeared very much in favour of Simple Property Groups' presentation of events. Now its in the hands of the courts.

UPDATE INROAL S.L. (28 Apr 2008)

Further to the Criminal charges being lodged in the courts in Almeria there have been meetings today between Inroal and our legal Team AGUERA & ARREBOLA.

We will have a further update on this meeting early next week.