Wednesday 27 February 2008

Bulgarian Dreams Expelled from AIPP


It will come as a bit of a shock to those who have had dealings with Bulgarian Dreams that they have been officially expelled from AIPP (the UK based Association of International Property Professionals).


There is no specific reason given for the expulsion except that the "Tribunal finds that the conduct of Bulgarian Dreams in this regard fell way short of the ambits that should be expected."

This decision by the AIPP would have to call into question the value of the company's two Bentley awards, awarded in 2005 and 2006. These awards are renowned within the industry for being given to International Homes Magazine's largest advertisers to thank them for their custom over the year, but that's a rant for another blog thread.

News on the grapevine suggest that the company's owner, Robert Jenkin, has gone to ground and is completely uncontactable. Someone within the industry in
Bulgaria cited the company as a perfect example of "an agent who became a developer without sufficient knowledge and is now suffering the consequences."

All reference to AIPP seems to have been removed from the company's site but it still claims to be a member of the EEAU (European Estate Agent's
Union). The link to this entity's site (http://www.eeau.eu) currently only leads to an error page.

If you have had dealings with Bulgarian Dreams we strongly recommend that you get in contact with the company to query your current status or contact AIPP to examine your options at this stage.

Further info on the company's expulsion from AIPP can be found at http://www.aipp.org.uk/


3 comments:

Sean said...

Calling all owners of apartments in Cedar Heights 1,2 or 3 in Pamporovo.
Please contact to join owners group.

Livy said...

Re: Bulgarian Dreams Rescue Seminar London 21/2/09

Hi

I feel it is important to give people some feedback to a Seminar I attended on 21/2/09 with 23 other Bulgarian Dreams purchasers and The International Law Partnership LLP Solicitors.

This was following information posted on the BBC Watchdog website and advice given by the AIPP.

Just to make things clear this post is advice only. I am a purchaser in Phase 3 of The Orchard, Bansko who is at a loss as to what to do next following Bulgarian Dreams collapse. I am not an agent/promoter or legal representative but just an individual that has invested a large sum of money that seemingly has been lost or so I thought.

I found this seminar both enlightening and concerning but ultimately has given me some hope that I may be able to persue legal proceedings against either the now defunct Bulgarian Dreams or their associated Building Developers.

There was a turnout of 23 people plus a further 13 that couldn't attend all of which have invested in Bulgarian Dreams Developments throughout Bulgaria including The Orchard myself.

Mr John Howell (Senior Partner) and Ms Lyubov Jones (Bulgarian Solicitor) held this seminar at their offices in London and are going to act on our behalf as a collective in the first instance and then as individual groups following their initial findings in 6 weeks time.

They have asked each person attending to post on as many relevant websites/forums that we use to get other owners in a similar situation to contact them and to instruct them to act on their behalf.

There is a fee but this will be reduced the more people that instruct them.

If you are in a similar situation as we are whether it be Phase 1 full payment made, awaiting Act 15 or initial deposit on an apartment in Phase 3 there is still hope and options but you must act quickly.

There is too much to explain from the meeting to put in this post surfice to say the longer we sit on our hands and hope for the best the worse it will get.

I hope this helps in some way.

Good Luck

Mark

The International Law Partnership LLP contact emails are

Mr John Howell pe@lawoverseas.com
Ms Lyubov Jones lmj@lawoverseas.com
Hanneri Swanepoel hsw@lawoverseas.com

Website www.lawoverseas.com

Rachel said...

I have been warning people about the perils of buying from Bulgarian Dreams for years after getting involved in an apartment purchase in Bansko back in 2004. I have even published an ebook on the whole saga which is available on my website. Please see http://www.thetravelbug.org