Hi All,
Was just wondering if anyone here has invested in the Sesimbra Hotel for GV - Currently named four points sesimbra.
I have invested through IR Group, and would like to discuss with fellow investors.
Please let me know.
Regards,
Bisho
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I have bisho
I have invested in sesimbra through IR group
I too have invested in IR Group’s Sesimbra Project. Would like to connect and compare notes, please.
Hi Masuma lets connect
Are you in touch with anyone at IR group? When did u invest?
I have no contact with the IR Group at present. I invested in 2017.
Correction, I invested in December 2018.
Hi, the insolvency process is under process. The IR GROUP has said they will pay the old dues in December 2025. So basically we are at their mercy and have to wait to see if they keep up their word
Hi, can you give a short summary about what happened in Sesimbra Project ? Hotel is open, but IRGroup is not paying?
I have investment at Lagos Hotel project, it has not even commenced, yet. Big concerns about this.
Hi Anand,
Where do I find out more about the insolvency process? I am also an investor in the IR Group’s Sesimbra project and am unable to get any information / details about when they say they will pay.
Any feedback at all will be appreciated.
Regards,
Masuma
Hi
My lawyers inform me that the restructuring is approved. But is getting delayed due to pending appeals.
The gist of the process is that we get paid December 2025. But we don’t get paid for 2 years of covid. IR Group has proposed to invest in oceansesimbra to cover these payments.
So we have to wait until Dec 2025
Recovery plan submited with inicial PER.pdf (2.9 MB)
Thank you, Anand, for the recovery plan. So the restructuring is being delayed because of pending appeals by individual investors? No choice but to wait till December 2025, it seems, and to hope it happens.
I am also stuck with these guys , can we connect
Sure Sachin, +919840086601
The latest from my lawyer
"Dear Anand,
We are writing to inform you that we have learned that Importantaltura has submitted itself to the Special Revitalization Process (PER).
We have already reviewed the case file and found that the plan submitted by Importantaltura makes no reference to the capital injection promised to Ocean in its plan.
Importantaltura’s submission to the PER is indicative of its current financial difficulties, which leads us to believe that it will not be in a position to inject nearly 6 million euros into Ocean next year, especially since the plan is entirely silent on this matter.
Given these developments, we believe the only immediate action we can take is to file a motion in Ocean’s PER, informing the court that we are aware of Importantaltura’s PER and that it does not provide for any capital injection into Ocean. This is because we do not have any claims to assert in Importantaltura’s PER. Filing this motion serves as a way to alert all creditors and the court to this situation. However, it is important to note that the court has exhausted its powers with the approval of the recovery plan and, in practice, will not take any further action on this matter. "
Hi Everyone, I have three units in block B, do you know if the block units are ready or not and if ready is it already in operation by the hotel?
The Sesimbra project has been complete for a few years now.i have visited thrice. But I heard the manager complain that only 100 odd rooms are available to rent. I bought in block D and it’s operational
Thank you for sharing Anand
Block B has not been constructed yet