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wonder what happens to hotels etc when builder goes bankrupt

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ang1706


Joined: 28/01/2009
Posts: 570

Message Posted:
05/09/2010 11:00

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I have had a thought- my goodness its strange haha!!



I like so many others face my paid up home being repossesed and sold at auction.

But what happens when the builder defaults on the building of Commercial Units, Hotels, Shops etc?

Has anyone investigated that yet??



Does that mean then that the Banks own all the hundreds of empty units and empty Hotel shells that are scattered around the island? If so when do they come up for Auction??



I am intrigued and very interested in other peoples thoughts/views and to find out the facts.



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