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Cyprus Eastern Forum Index » Property Action / Support Groups » SNK nightmare drags on and on
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SNK nightmare drags on and on 
Post: #1   PostPosted: Tue Sep 11, 2012 9:29 pm Reply with quote
juliesteveoliver
Joined: 01 Jan 2011
Posts: 42
Pictures: 0
Location: goole uk

 
Has anyone heard anything regarding SNK it has all gone very quiet!

I have heard recently that CRI are refusing to entertain people applying for title deeds as BOC are owed so much money and yet they tell us that the bank is NOT interested in our houses. WHY NOT ALLOW DEEDS TO BE ISSUED THEN?

Maybe the time is fast approaching for all SNK clients to band together to take action instead of the current situation of several small groups - stegnth in numbers etc. I would be more than willing to coordinate if anyone is interested.

Steve.
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Post: #2   PostPosted: Wed Sep 12, 2012 7:54 am Reply with quote
baileyboy
Joined: 26 Nov 2009
Posts: 1779
Pictures: 0
Location: avgorou

 
Provided our panellist Lawyer Stelios can make the next PICAS meeting on
Wednesday 26th September we will include an update on SNK on our agenda. See our web page
Links only visible to Registered Members
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for more information about PICAS.


Last edited by baileyboy on Wed Sep 12, 2012 8:39 pm; edited 1 time in total
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Re: SNK nightmare drags on and on 
Post: #3   PostPosted: Wed Sep 12, 2012 10:36 am Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
juliesteveoliver wrote:
Has anyone heard anything regarding SNK it has all gone very quiet!

I have heard recently that CRI are refusing to entertain people applying for title deeds as BOC are owed so much money and yet they tell us that the bank is NOT interested in our houses. WHY NOT ALLOW DEEDS TO BE ISSUED THEN?

Maybe the time is fast approaching for all SNK clients to band together to take action instead of the current situation of several small groups - stegnth in numbers etc. I would be more than willing to coordinate if anyone is interested.

Steve.


I can inform you that there is a meeting between CRI and SNK creditors on 28th September at 10am in the Palm Beach Hotel. I have been notified by my lawyer and advised to attend. Whether any worthwhile progress has been made remains to be seen. Perhaps it would be wise to contact your lawyer as many clients have not been made aware of this meeting by their respective lawyers. Not even by the alleged "super" lawyers it seems.
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Post: #4   PostPosted: Wed Sep 12, 2012 2:12 pm Reply with quote
baileyboy
Joined: 26 Nov 2009
Posts: 1779
Pictures: 0
Location: avgorou

 
Hi,We hope to have this topic on the PICAS agenda for our meeting on the 26th September. It might be a good idea to come to the meeting and pool your knowledge before the meeting on the 28th.
Either way I wish you all the best and hope you get some good news.
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Post: #5   PostPosted: Wed Sep 12, 2012 2:50 pm Reply with quote
juliesteveoliver
Joined: 01 Jan 2011
Posts: 42
Pictures: 0
Location: goole uk

 
Many Thanks for the info - I was completly unaware of any meeting taking place !

As I am in the UK I am unable to attend the PICAS meetings but I do follow them on the forum and it is reassuring to know that the support is there!

I will travel to Cyprus if the content of the meeting on the 28th is disclosed and deemed important but I travelled to and from Cyprus on 9 occassions over the last 2 years for various meetings and promises and I have to say EVERY occassion was a complete waste of time and money so I am loathed to travel over again.

Once again THANKS for the support and to all SNK clients I say it is time to forget any differences, it is VITAL we band together as ONE big group or risk losing everything we have dreamed of.

Steve.
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Post: #6   PostPosted: Wed Sep 12, 2012 3:25 pm Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
juliesteveoliver wrote:
Many Thanks for the info - I was completly unaware of any meeting taking place !

As I am in the UK I am unable to attend the PICAS meetings but I do follow them on the forum and it is reassuring to know that the support is there!

I will travel to Cyprus if the content of the meeting on the 28th is disclosed and deemed important but I travelled to and from Cyprus on 9 occassions over the last 2 years for various meetings and promises and I have to say EVERY occassion was a complete waste of time and money so I am loathed to travel over again.

Once again THANKS for the support and to all SNK clients I say it is time to forget any differences, it is VITAL we band together as ONE big group or risk losing everything we have dreamed of.

Steve.


As I,m not aware of any differences between SNK clients I ca'nt really comment on that. I hope this meeting will be fruitful. As my lawyer was unsure of whether I was in Cyprus or not he did offer to attend as proxy should I not be able to attend. Perhaps your lawyer may offer the same service if you cannot attend personally. The meeting is labelled as the "General Assembly of SNK Shareholders & Creditors" and maybe an annual update on any progress. I know as liquidators they are obliged to have a meeting at least once a year. If their track record regarding information is anything to go by, we are likely to be none the wiser after the meeting. I would'nt break my neck rushing over here.
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snk 
Post: #7   PostPosted: Thu Sep 13, 2012 11:09 am Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
Please be advised that there are in fact now 2 meetings scheduled. The first is with shareholders at 10.30am and not 10am.
The second meeting is with creditors at 11am.
I suspect the first meeting with the shareholders will be about how they plan to screw the creditors from the second meeting. Shocked
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Post: #8   PostPosted: Thu Sep 13, 2012 2:02 pm Reply with quote
cyprussmoothie
Joined: 17 Nov 2009
Posts: 2138
Pictures: 0
Location: larnaca

 
Hi Chris and Juliesteveoliver

As mentioned by Baileyboy we are hoping to be able to include this very topic in our next meeting on 26 September.

May i make a suggestion to both yourself and also any other SNK clients. We can give you an open floor on the 26th both for the clients and also your lawyer if he/she is able to attend. You are absolutely right in all coming together and i think it a brilliant idea of yours to do just that.

We already pay for the venue and sound system [supplied by Dangerous Dave] and are perfectly willing for any or all SNK clients to come along and pool their knowledge, questions, grievances etc etc all at one spot and one meeting. I know we have covered this time and time again but perhaps this time you will all blend together.

I think and hope you agree that to do this prior to the meeting with the liquidators a good idea and hopefully you can gain strength from each other as one fighting unit.

Hope you agree and would welcome your views on this.


Vee [its me] and the PICAS Team
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SNK 
Post: #9   PostPosted: Thu Sep 13, 2012 4:20 pm Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
cyprussmoothie wrote:
Hi Chris and Juliesteveoliver

As mentioned by Baileyboy we are hoping to be able to include this very topic in our next meeting on 26 September.

May i make a suggestion to both yourself and also any other SNK clients. We can give you an open floor on the 26th both for the clients and also your lawyer if he/she is able to attend. You are absolutely right in all coming together and i think it a brilliant idea of yours to do just that.

We already pay for the venue and sound system [supplied by Dangerous Dave] and are perfectly willing for any or all SNK clients to come along and pool their knowledge, questions, grievances etc etc all at one spot and one meeting. I know we have covered this time and time again but perhaps this time you will all blend together.

I think and hope you agree that to do this prior to the meeting with the liquidators a good idea and hopefully you can gain strength from each other as one fighting unit.

Hope you agree and would welcome your views on this.


Vee [its me] and the PICAS Team


Well, without wishing to sound ungrateful for your kind offer, I really cannot see the point of discussing the outcome of a meeting that will not have yet taken place by the day of your PICAS meeting on 26th Sept.
As far as SNK clients "all coming together" is concerned, I have never quite understood what is implied by that. I am not aware of any discord between SNK clients. In fact, most SNK clients I know, or their lawyers, have absolutely no idea how they will be affected.
If you mean that we all get together and fight as one unit then I think this is rather redundant advice at this stage as we have no idea at this stage what we will be fighting.
As I said in my last post, I hope this meeting will be fruitful and the, (so far), very patient SNK clients will have a much better understanding of what their position is.
Until the meeting, I for one, see no point in discussing it beforehand.
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Post: #10   PostPosted: Thu Sep 13, 2012 4:44 pm Reply with quote
cyprussmoothie
Joined: 17 Nov 2009
Posts: 2138
Pictures: 0
Location: larnaca

 
Hi there Chris, thanks for your response and totally understand your statements however i will leave it for other SNK clients to decide whether or not they wish to attend the PICAS meeting.

Vee [its me]
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SNK 
Post: #11   PostPosted: Thu Sep 13, 2012 8:53 pm Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
Yes i'm sure some SNK clients will attend.
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Post: #12   PostPosted: Fri Sep 14, 2012 8:51 am Reply with quote
baileyboy
Joined: 26 Nov 2009
Posts: 1779
Pictures: 0
Location: avgorou

 
criss. The original post suggested that "Maybe the time is fast approaching for all SNK clients to band together to take action instead of the current situation of several small groups - strength in numbers etc. I would be more than willing to coordinate if anyone is interested"
All we are attempting to do is to provide a platform for this to happen and to make sure that the owners are all singing from the same hymn sheet and have a unified plan of attack.
Even your post informing owners that the receivers and shareholders are holding a meeting prior to the meeting with owners to update the shareholders and outline their strategy suggest that PICAS was right to offer SNK owners the opportunity to do the same.
It will be right up the receivers alley if the meeting with the owners degenerates in to a shouting with owners who do not have a clear strategy.
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Post: #13   PostPosted: Fri Sep 14, 2012 12:03 pm Reply with quote
juliesteveoliver
Joined: 01 Jan 2011
Posts: 42
Pictures: 0
Location: goole uk

 
Good afternoon everyone and thanks for your replies.

May I start by saying it was never my intention to infer that there are any big divisions amongst the SNK clients ( I know this is definitely NOT the case) there are a couple of personality clashes and it was to those people my remarks were aimed.

I do believe however that SOME clients are quite prepared sit back and wait and see what happens with the situation., - the answer to this as we have already seen is absolutely nothing.

The general lack of credible information being received by the clients has led to speculation and hearsay instead of actual facts being passed around the clients.

It was my intention to TRY and get as many SNK clients as possible banded together and in REGULAR contact so as in the event that this whole saga does not take the path we all hope then we would be better prepared to take whatever actions are needed to ensure NO SNK CLIENTS are disadvantaged.

The big organisations involved in taking the KEY decisions effecting us all are far more likely to listen and respond! to fifty or one hundred voices organised and grouped together asking questions and demanding answers than they are one or two people asking those very same questions.
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SNK 
Post: #14   PostPosted: Fri Sep 14, 2012 2:44 pm Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
juliesteveoliver wrote:
Good afternoon everyone and thanks for your replies.

May I start by saying it was never my intention to infer that there are any big divisions amongst the SNK clients ( I know this is definitely NOT the case) there are a couple of personality clashes and it was to those people my remarks were aimed.

I do believe however that SOME clients are quite prepared sit back and wait and see what happens with the situation., - the answer to this as we have already seen is absolutely nothing.

The general lack of credible information being received by the clients has led to speculation and hearsay instead of actual facts being passed around the clients.

It was my intention to TRY and get as many SNK clients as possible banded together and in REGULAR contact so as in the event that this whole saga does not take the path we all hope then we would be better prepared to take whatever actions are needed to ensure NO SNK CLIENTS are disadvantaged.

The big organisations involved in taking the KEY decisions effecting us all are far more likely to listen and respond! to fifty or one hundred voices organised and grouped together asking questions and demanding answers than they are one or two people asking those very same questions.


I understand your frustration that there has not been any information thus far, and yes there has inevitably been speculation and hearsay but the fact remains that whenever CRI have been contacted by individuals and even lawyers requesting updates all have been told the same. That the process of liquidating the company is still in progress and no information is available.
There are many SNK clients who have been attending PICAS meetings faithfully in the hope of some assistance or information. A regular guest on that panel is a lawyer that represents many of them and is apparently in close contact with the CRI group and yet to date even he has not delivered any information that I am aware of. I know this because I know some of his clients.
It seems ironic to me that, now that there is a meeting scheduled, we have those that are calling for action of some kind before we have even heard what is going to be said.
Surely it makes sense to wait till after the meeting then act upon whatever the information (if any) is.
Whatever key decisions these organisations have or have not made will have been made irrespective of our opinion. I am sure you are not naive enough to believe otherwise.
However, once they have declared what these decisions are then that is when we will know what battles are ahead (if any) and how to fight them.
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SNK 
Post: #15   PostPosted: Sat Sep 15, 2012 9:41 am Reply with quote
crissbroon
Joined: 08 Oct 2006
Posts: 677
Pictures: 0
Location: Scotland and Xylophagou

 
baileyboy wrote:
criss. The original post suggested that "Maybe the time is fast approaching for all SNK clients to band together to take action instead of the current situation of several small groups - strength in numbers etc. I would be more than willing to coordinate if anyone is interested"
All we are attempting to do is to provide a platform for this to happen and to make sure that the owners are all singing from the same hymn sheet and have a unified plan of attack.
Even your post informing owners that the receivers and shareholders are holding a meeting prior to the meeting with owners to update the shareholders and outline their strategy suggest that PICAS was right to offer SNK owners the opportunity to do the same.
It will be right up the receivers alley if the meeting with the owners degenerates in to a shouting with owners who do not have a clear strategy.


I fully understand and appreciate that the PICAS group are keen to provide support and a platform from where SNK clients can, as a single fighting unit so to speak, launch a counter offensive.
As you say, the original post says "The time is fast approaching when SNK clients should get together". Yes it is and the poster is absolutely correct. That time is AFTER the meeting on the 28th September. Remember, this is the first meeting with CRI since their introductory meeting 14mths ago.
All I,m saying is that I, personally do not see the point of discussing a strategy before that. You are asking SNK clients to attend a PICAS meeting to pool their knowledge and create a strategy when it is clear that there is no knowledge out there other than the hearsay and speculation that has prevailed in the past.
I am hoping that the meeting on the 28th will provide a clearer picture of what CRI, the banks, and anyone else with a finger in the pie plan to throw at us.
This is only my opinion and I,m sure that if any SNK clients feel differently they may well attend the PICAS meeting on the 26th.
This is not a sign of discord or fragmentation amongst SNK clients, which by the way, is an accusation that is constantly put to us. Usually by PICAS.
It maybe that this perception has come about through my stated opinion of PICAS which unfortunately was regarded as criticism.
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SNK nightmare drags on and on 
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