marksmith33 Posted November 30, 2019 Report Share Posted November 30, 2019 Hi, is anyone else on the site invested in Forest Lakes through Terra Firma? It seems since the death of majority shareholder Bradley Marr, and other ‘severe setbacks’, things are very much up in the air. Surely investments can’t be lost due to the death of a shareholder? There must need to be other contingencies in place I’d have thought? Anyway, let me know if anyone else has any dealings with the location, or the Terra Firma company. Quote Link to comment Share on other sites More sharing options...
marksmith33 Posted December 4, 2019 Author Report Share Posted December 4, 2019 Seems now that @ForestLakesNS twitter account has been removed in the last few days. Looks like Forest Lakes investors may lose their investments Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 15, 2020 Report Share Posted January 15, 2020 Hi I have been an investor sine 2007/2008 and i have been waiting for my investment returns since then, the forest lakes sites is up and running,golf course active and people living there ,i invested in the scheme for my retirement which i now am in and i need that return i can see no reason why the company does not pay there long suffering investors .Th e lack of relevant information is very shabby and i am sure there are many people in the same situation,i would be grateful if anyone has any up.to dat e information,and its high time that the press got to know of this and could maybe get answers as to what is happening as the forest lakes people do not seem to be communicating,i want my money which they have had for far to many years Quote Link to comment Share on other sites More sharing options...
Davidwhite Posted January 18, 2020 Report Share Posted January 18, 2020 Anthony I am in exactly the same boat as you, I also invested back in 2007/8 and have not been able to get any communication over the last month. I am also just reaching retirement. I have found this contact form which I have just sent, it promises a reply within 1 working day: .https://forestlakescountryclub.ca/investor-relations-contact-form/. I'm not holding my breath but you never know. Good luck David Quote Link to comment Share on other sites More sharing options...
Allan Freeman Posted January 23, 2020 Report Share Posted January 23, 2020 Likewise. Do you know what is happening in Canada...I just tried to dial the sales line and the line seems to be disconnected!? And we are still being asked for money to be paid into the escrow account Have you found out anything else? Allan Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 27, 2020 Report Share Posted January 27, 2020 Hi David, Sorry to hear you are having the same problems, i hope you do get a reply buti have had little or no luck form them. Have you had any communications from the escro agents, it seems that alot of people ,me included have not been paying there charges, i have written back to them in the hope that they can get some information,they did say that terra firma would give an update soon. all the best and keep posting if you hear anything ,i will do the same all the best Anthony Quote Link to comment Share on other sites More sharing options...
Davidwhite Posted January 29, 2020 Report Share Posted January 29, 2020 Anthony, Here is an extract of an email I sent to the agents. I'll let you know if I hear anything. David With reference to the above investments we hold I would be grateful if you can advise the current situation with Terra Firma. They have cut all communication with investors and just give automated replies that ' updates will be sent'. I understand they have severe cashflow problems but the lack of communication is unacceptable. I imagine a chapter 11 filing and administration is the inevitable outcome. I would be grateful if you have any contact from Terra Firma or can provide any updated information. I would also be obliged if you can let me know where we stand with regard to the 1% Annual fee being charged.This appears to be becoming a meaningless charge if there is no prospect of a return on our investment. I look forward to you reply David & Claire White Quote Link to comment Share on other sites More sharing options...
Davidwhite Posted January 29, 2020 Report Share Posted January 29, 2020 Anthony, Here is an extract of an email I sent to the agents. I'll let you know if I hear anything. David With reference to the above investments we hold I would be grateful if you can advise the current situation with Terra Firma. They have cut all communication with investors and just give automated replies that ' updates will be sent'. I understand they have severe cashflow problems but the lack of communication is unacceptable. I imagine a chapter 11 filing and administration is the inevitable outcome. I would be grateful if you have any contact from Terra Firma or can provide any updated information. I would also be obliged if you can let me know where we stand with regard to the 1% Annual fee being charged.This appears to be becoming a meaningless charge if there is no prospect of a return on our investment. I look forward to you reply David & Claire White I've attached their reply below Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 29, 2020 Report Share Posted January 29, 2020 Hi David, Sorry to hear you are having the same problems, i hope you do get a reply buti have had little or no luck form them. Have you had any communications from the escro agents, it seems that alot of people ,me included have not been paying there charges, i have written back to them in the hope that they can get some information,they did say that terra firma would give an update soon. all the best and keep posting if you hear anything ,i will do the same all the best Anthony hi David , Thank you for the update,at least you have got through to somebody,a very good letter,I could not see the attached reply they sent you, i have no further news as yet,could you attach the reply again regards Anthony Quote Link to comment Share on other sites More sharing options...
Simhadri Posted January 29, 2020 Report Share Posted January 29, 2020 I thought these "investments" are better than properdee. Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 29, 2020 Report Share Posted January 29, 2020 On 1/23/2020 at 3:27 PM, Allan Freeman said: Likewise. Do you know what is happening in Canada...I just tried to dial the sales line and the line seems to be disconnected!? And we are still being asked for money to be paid into the escrow account Have you found out anything else? Allan HI Allan, Good to see more people getting interested ,i think the more people we can get on boardthe better,i have no further updates as yet ,but just keep an eye on the board,David has posted today. all thebestAnthony Quote Link to comment Share on other sites More sharing options...
Davidwhite Posted January 29, 2020 Report Share Posted January 29, 2020 Here is the letter I got back from AV corporation Services Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 31, 2020 Report Share Posted January 31, 2020 On 1/29/2020 at 8:07 PM, Davidwhite said: Here is the letter I got back from AV corporation Services Hi David, i still cant see your reply,i am expecting a call from them soon so hopefully get some answers,what was the general feeling you got from there reply Anthonya Quote Link to comment Share on other sites More sharing options...
Davidwhite Posted January 31, 2020 Report Share Posted January 31, 2020 I received a telephone call from the Escrow agents. The gist of it was they are also in the dark about the current development. They have been told by Terra Firma that a communication will be sent out in a week or two. The main problem seems to be that Terra Firma based their forecasts on prices before the Financial crash and are now struggling to honour them. The basic infrastructure is in place and a few properties are complete with some sales completed. The golf course is half complete which seems to be the main influence for generating sales, I think this has been taken on by a German consortium so should eventually get completed. The worst case scenario is that Terra Firma announce they are going into administration. If this happens then the LLC members become creditors for any settlement payments. The agents would then work on the members behalf and advise on our options. We'll just have to wait on the Tera Firma announcement, if it ever comes, but a least I've had some contact. Any straw is worth grasping, I'll keep posting if any news. David Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 31, 2020 Report Share Posted January 31, 2020 On 1/29/2020 at 8:07 PM, Davidwhite said: Here is the letter I got back from AV corporation Services Hi David, i still cant see your reply,i am expecting a call from them soon so hopefully get some answers,what was the general feeling you got from there reply Anthonya Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 31, 2020 Report Share Posted January 31, 2020 Hi David, Thanks for that ,very interesting,i am sure my phone call will be very similar, we can only wait for Terra Firma to announce something with some good or at least not bad news for investors. all the best Anthony Quote Link to comment Share on other sites More sharing options...
RockyBl Posted January 31, 2020 Report Share Posted January 31, 2020 Hi all, I too invested back in 2007/8 and in the same position as yourselves. I invested in land and was expecting my returns years ago. I have had no contact with TFDC since November 2019. I am glad I found this forum as I have never found any other investor to share comms/ideas etc with. Lets keep this line of communication going so we can all update each other. At least I know TFDC will be communicating soon to their investors. We need to know what happens if they do go into administration and what our options our. I just want my initial investment back now. Any way, I am constantly trying to contact someone at TFDC or Forest lakes so if I hear anything I will post here. Thanks Rick Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted January 31, 2020 Report Share Posted January 31, 2020 9 minutes ago, RockyBl said: Hi all, I too invested back in 2007/8 and in the same position as yourselves. I invested in land and was expecting my returns years ago. I have had no contact with TFDC since November 2019. I am glad I found this forum as I have never found any other investor to share comms/ideas etc with. Lets keep this line of communication going so we can all update each other. At least I know TFDC will be communicating soon to their investors. We need to know what happens if they do go into administration and what our options our. I just want my initial investment back now. Any way, I am constantly trying to contact someone at TFDC or Forest lakes so if I hear anything I will post here. Thanks Rick Hi Rick It looks like we are all in the same boat, good to know more people are involved,hopefully we will get some updates soon all the best Anthony Hi David, Thanks for that ,very interesting,i am sure my phone call will be very similar, we can only wait for Terra Firma to announce something with some good or at least not bad news for investors. all the best Anthony Quote Link to comment Share on other sites More sharing options...
Patt Posted February 1, 2020 Report Share Posted February 1, 2020 Hi everyone, All hope was lost a few years back as my communications from the escrow account went silent 2 years back. Then I got sent an email asking for the annual 1% fee, that I have not paid, so I started investigating again. I too am in the same position as you all but I invested in 2012 expecting a payout in 2014. Then all the story's and set backs came and now I don't even know whats going on. Last week I came across this forum with a little hope and instead of adding I wrote to the link David added but with one week in-between Ive received no reply. I returned to this forum and the messages have got more... Can anyone who has made contact please put the details on here. I think the moire we can get involved the better things can be the faster we can learn of the problem. Best Patrick Quote Link to comment Share on other sites More sharing options...
Patt Posted February 1, 2020 Report Share Posted February 1, 2020 Hi everyone, All hope was lost a few years back as my communications from the escrow account went silent 2 years back. Then I got sent an email asking for the annual 1% fee, that I have not paid, so I started investigating again. I too am in the same position as you all but I invested in 2012 expecting a payout in 2014. Then all the story's and set backs came and now I don't even know whats going on. Last week I came across this forum with a little hope and instead of adding I wrote to the link David added but with one week in-between Ive received no reply. I returned to this forum and the messages have got more... Can anyone who has made contact please put the details on here. I think the moire we can get involved the better things can be the faster we can learn of the problem. Best Patrick Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted February 1, 2020 Report Share Posted February 1, 2020 17 hours ago, RockyBl said: Hi all, I too invested back in 2007/8 and in the same position as yourselves. I invested in land and was expecting my returns years ago. I have had no contact with TFDC since November 2019. I am glad I found this forum as I have never found any other investor to share comms/ideas etc with. Lets keep this line of communication going so we can all update each other. At least I know TFDC will be communicating soon to their investors. We need to know what happens if they do go into administration and what our options our. I just want my initial investment back now. Any way, I am constantly trying to contact someone at TFDC or Forest lakes so if I hear anything I will post here. Thanks Rick Hi Rick It looks like we are all in the same boat, good to know more people are involved,hopefully we will get some updates soon all the best Anthony Hi David, Thanks for that ,very interesting,i am sure my phone call will be very similar, we can only wait for Terra Firma to announce something with some good or at least not bad news for investors. all the best Anthony Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted February 1, 2020 Report Share Posted February 1, 2020 Hi all, https://kanzlei-hpc.de/engel-voelkers-resorts-gmbh-forest-lake-country-club/ I found this whist looking for information about forest lakes,, Quote Link to comment Share on other sites More sharing options...
Davidwhite Posted February 1, 2020 Report Share Posted February 1, 2020 Anthony, This looks very interesting at first glance and could be a possible option to persue. I would be wary though that this might just be an opportunistic lawyer who has picked up on the current situation. I'd be inclined to take advice from the Escrow agents, they did assure me that if TFDC do go into liquidation they would be there for investors to explain our options. If you get the call from them it might be worth mentioning this article. Keep hoping. David Quote Link to comment Share on other sites More sharing options...
Anthony Goldby Posted February 1, 2020 Report Share Posted February 1, 2020 David,yes good advice,i had the same thoughts myself but some interesting insights as to what is happening, have a good weekend, hopefully some more information soon Anthony Quote Link to comment Share on other sites More sharing options...
RockyBl Posted February 2, 2020 Report Share Posted February 2, 2020 Thank you for sharing that. It does appear to be genuine but you never know. It looks like a complicated state of affairs. How many investors have we got on this thread? I would interested to know what exactly you all invested in. Did you purchase land units (i purchased half an acre) or did you purchase an off plan property? Are you based in England like me or elsewhere? We should try to reach out to others if we can. There was a facebook page called duped forest lakes investors or something like that but it has been removed. There were a few people using that but now its lost. Anyway, lets keep sharing Quote Link to comment Share on other sites More sharing options...
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