Ocean None Tower

[Man From Delmonte]

Whats the latest on Ocean 1 Tower, often described as Ocean None Tower ?

 

The company developing this are in dire financial straights........... but they still continue to advertise Oceam

One Tower despite everything.

 

The Licence to build has expired, the completion date has passed but it hasn't even started.

 

The Company responsible for several other projects

 

1 View Talay residence Condo 4, completed years ago, many owners have fully paid for their condos but cannot get

their title deeds, Many condos remain unsold, the Manager ( surprise surprise Bruno Pingel ) does not have independent

auditors do the accounts every year as required by law.

 

2. View Talay residence Condo 5, years behind schedule and sold hardly any.

 

3 Majestic Estate, some people there still await Title deeds

 

4. View Talay Residence 1 & 2 fought hard to break free from Bruno Pingel finally winning the day, now operate

lawfully according to the Thai Condo Law...... Pingel left leaving NOTHING, not even a Bank Account.

 

What hope for the poor investers that sank money into Ocean NONE Tower ? Some have been offered Condos in VTR4 or 5

some are going to Court.

 

But while this goes on NOTHING APPEARS IN THE LOCAL PAPERS and Ocean 1 Tower is still advertised.

 

We are told the Company is in serious financial difficulties with a host of Court actions pending.

 

Anybody unlucky enough to be embroiled in this mess ?

 

Anybody with any news ?

 

Why has no local paper reported on this story ?

[frenchfarangbkk]

I didn't know all this information. Thank you!

 

Now waiting for more.

[Sexyfarangman]

 

1 View Talay residence Condo 4, completed years ago, many owners have fully paid for their condos but cannot get

their title deeds,

 

How is this possible if payment has already been made? Aren't there escrow companies in LOS?

[mpm]

How is this possible if payment has already been made? Aren't there escrow companies in LOS?

In 2005 i was one of the first to get in on ocean 1, thinking i was smart and booked a 50sq meter condo and payed a 1mil deposit, with promises of work starting the following year..Anyway it took me a further 3 years and tons of phone calls and trips to thier office to realise this was not going to happen..And the day i finally met the big boss brouno, well that told me within 5minutes of meeting him im getting had hear..So thats when i demanded my money back, and hes offering me condos on other projects.. im going eh fuck your projects youve had my money for 3 years i want it back.. and then hes on the phone and a minute later 2 thai bodyguards..are now in the office with us..with more talk it dawnned on him i didnt care about being intimadated not when im loseing a million baht to this horrible man.. we struck a deal that they would pay me back at 100,00 a month for 10 months... so i picked up my first 100 the next day.. it took a further 2 years to get all the money off them.. with me often going to the office only to be told we aint got your 100 today..come back next week.. and there driving around in brand new baby bentleys.. looking back now and listening to others i was one of the lucky ones, many people have lossed much more and are going through the courts.. which will be a waised of time...after all you cant take blood out of a stone can you...sorry about my spelling

[Harry Brown]

In 2005 i was one of the first to get in on ocean 1, thinking i was smart and booked a 50sq meter condo and payed a 1mil deposit, with promises of work starting the following year..Anyway it took me a further 3 years and tons of phone calls and trips to thier office to realise this was not going to happen..And the day i finally met the big boss brouno, well that told me within 5minutes of meeting him im getting had hear..So thats when i demanded my money back, and hes offering me condos on other projects.. im going eh fuck your projects youve had my money for 3 years i want it back.. and then hes on the phone and a minute later 2 thai bodyguards..are now in the office with us..with more talk it dawnned on him i didnt care about being intimadated not when im loseing a million baht to this horrible man.. we struck a deal that they would pay me back at 100,00 a month for 10 months... so i picked up my first 100 the next day.. it took a further 2 years to get all the money off them.. with me often going to the office only to be told we aint got your 100 today..come back next week.. and there driving around in brand new baby bentleys.. looking back now and listening to others i was one of the lucky ones, many people have lossed much more and are going through the courts.. which will be a waised of time...after all you cant take blood out of a stone can you...sorry about my spelling

 

 

 

He will upset or probably ripped the wrong person, it wouldn't surprise me if we read about him in the local rag "unscrupulous business man goes missing' or something similar som nam na if it does

 

 

[999Baht]

Thanks for the info mate.

I often see this advertised in Pattaya and thought or maybe dreamed of living there one day.

Doing the conversions from Thai Baht to Aussie $ it seems like a great deal.

I did not know of all the problems they were having.

Then again I'm still about 5 years away from looking at buying over there.

[Sexyfarangman]

He will upset or probably ripped the wrong person, it wouldn't surprise me if we read about him in the local rag "unscrupulous business man goes missing' or something similar som nam na if it does

 

The big lesson here for all farangs is never to buy anything unless it has already been completed.

[furryman]

The big lesson here for all farangs is never to buy anything unless it has already been completed.

 

Wise words there I believe.

[Bush Pig]

Don't know what the story is with advertising here - but I am sure it goes on and on in a lot of cases to help what ever media it is to sell more advertising.

I personally know of both Radio and TV adds that ran for ages after the paid amount of air time.

It is difficult here to make a judged decision about advertising/marketing and I am well experienced in it.

Wasted heaps with advertising in Mags here.

I didn't get one phone call in 2 yrs (1/2 page add) off one mag that has probably been around the longest and is full of info, adds and classifieds

I did get a few responses to articles I wrote though in a Real Estate publication!!

 

End of the day it comes down to word of mouth and when there is no mouths in town it is even harder.

 

It is a shame more people didn't do their "Due Diligence" a bit more closely with this Ocean project.

I knew it was a scam soon as it was started.

That "B" is a CON to the tenth degree!!!!

[wizwiz]

I guess building the immigration office free and the UK office for consular services keeps you safer. Then give a few High ranking military from sattahip free condos. Throw yourself a lavish birthday party and have the mayor along just to add to your standing. I went to the newspaper that's run by the chubby English guy who's now the consular officer and he refused my story. Said he would end up dead if he reported what some of the crooked Germans are doing. To much money involved

[PH Lodge]

How is this possible if payment has already been made? Aren't there escrow companies in LOS?

 

To make it simple

If developer borrowed money from the bank and the land is mortgaged, bank holds all the deeds.

 

when customer makes a purchase, developer is suppose to pay the bank and get that lot released, however if developer does not pay the bank and uses the funds for something else, then customer(buyer) can not get the deeds(chanot)

 

Another scenario, if the approval plan is for a hotel not a condo, legally developer can not really sell as it suppose to be a hotel.

 

Another scenario is only 49% of the rooms are allowed to be owned by the foreigners, so again developer can not issue the deeds until enough rooms have been sold to Thai Nationals.

 

I could be wrong on some of those points, but this is the information i received last time i was in legal battle

[badboybilly]

I see the Real Estate Salesman who was selling this is now living back in Australia.....apparently working QLD's Gold Coast.......I guess he invested in Australia .........

[Sexyfarangman]

To make it simple

If developer borrowed money from the bank and the land is mortgaged, bank holds all the deeds.

 

when customer makes a purchase, developer is suppose to pay the bank and get that lot released, however if developer does not pay the bank and uses the funds for something else, then customer(buyer) can not get the deeds(chanot)

 

Another scenario, if the approval plan is for a hotel not a condo, legally developer can not really sell as it suppose to be a hotel.

 

Another scenario is only 49% of the rooms are allowed to be owned by the foreigners, so again developer can not issue the deeds until enough rooms have been sold to Thai Nationals.

 

I could be wrong on some of those points, but this is the information i received last time i was in legal battle

 

In the US you use an escrow company, not developers,to clear title. I can see where this would be a big problem.

[PH Lodge]

In the US you use an escrow company, not developers,to clear title. I can see where this would be a big problem.

 

lol, in Thailand- no such a thing, you could use a lawyer but thats as safe as leaving money under a tree

[wizwiz]

I see the Real Estate Salesman who was selling this is now living back in Australia.....apparently working QLD's Gold Coast.......I guess he invested in Australia .........

Is that Suttie??

[badboybilly]

. Rob................has...left to go back. to .OZ ............is Suttie BACK there too.........geez..there all left Pattaya

Edited December 31, 2011 by badboybilly