@moshthepitt:

Absolutely not! If the whole property is sold (I believe I saw an advert in June asking interested parties to place bids with the receivers), the sale agreement would be between the new owner and OPIC. I would expect that OPIC have the title to the land and ownership documents for the houses. The new owner would have nothing to do with depositors. The sale would be unencumbered!

@Obi wan:

That proposal would only work if the deposits were held by OPIC. But since JNP pocketed the cash, OPIC would have to be sufficiently philanthropic to write off part of the loan for the benefit of the depositors. It is the right thing to do, but people should not hold their breath!

Alternatively, since most houses were going for btwn 2.8m and 4m, OPIC could assume a current value for the houses (the real estate guys can advise here), and then ask the depositors to pay the balance.


Immorality: The morality of those who are having a better time!

hahahaha @Feish,What a hilarious piece of advice. That would work perfect ......in the jungle. Do not get me wrong,I do not hold fort for this guy but if there is one thing we need to always do is to acquaint ourselves with facts then try and work with those facts. Our margin of errors will be greatly reduced.

Patience Pays in Guaranteed Checks