MRI — Italy - Sunset Tropea Phase II
Went on an inspection trip in August 2007, saw the plot for a 1 bed apartment (Sunset Tropea Phase II - Italy), I paid about 40k Euro for the deposit. Last week finally got the call to say no work has started (is supposed to be completed in July 2009). I couldn't make the meeting which was on Saturday 13 June and have heard nothing since and today came across this site which has now got me really worried! I had an insurance policy for the deposit which I thought I would get back as they work hasn't started and will not be complete, but my Italian lawyer has told me that 'the system of Bank guarantee of security bond does not exist in Italy' and the insurance on covers me if the developer goes bankrupt and the deposit was paid to the develop back in May 2008. Has any else had issues in Italy with MRI?
Any and all help appreciated.
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