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Indigo Bay Developer Goes Bankrupt #156894
03/16/2018 04:44 AM
03/16/2018 04:44 AM
Joined: Jun 2009
Posts: 4,864
Portland, OR
jazzgal Offline OP
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jazzgal  Offline OP
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Portland, OR


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Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #156895
03/16/2018 06:53 AM
03/16/2018 06:53 AM
Joined: Feb 2007
Posts: 4,348
Rhode Island
RonDon Offline
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RonDon  Offline
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Rhode Island
We passed this construction last week and commented how it had progressed. Thought it wouldn't go the way of many projects on island; guess we were wrong.

Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #156907
03/16/2018 09:18 AM
03/16/2018 09:18 AM
Joined: Aug 2000
Posts: 82,482
Central Florida!
Carol_Hill Offline
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Carol_Hill  Offline
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I can't say I'm surprised, in general, but they had been advertising in the Daily Herald until really recently, including ads saying how the project survived virtually unscathed from Irma, according to them. I hope that no one bought in, as a result of those ads!


Carol Hill
Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #156912
03/16/2018 09:57 AM
03/16/2018 09:57 AM
Joined: Nov 2009
Posts: 3,278
Maryland/DC Metro
BeachKitten Offline
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BeachKitten  Offline
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That's interesting how island bankruptcy works. The entity doesn't file for bankruptcy, you are filed AGAINST and declared bankrupt.


"It is good to do nothing all day, and then to rest" wink
Re: Indigo Bay Developer Goes Bankrupt [Re: BeachKitten] #156914
03/16/2018 10:25 AM
03/16/2018 10:25 AM
Joined: May 2004
Posts: 1,193
Virginia
Snorkeller Offline
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Snorkeller  Offline
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Virginia
It can work same way in US, of course. A creditor can file an involuntary petition in bankruptcy against a person or entity. It usually is an indication that things look so bad that the creditor has given up on debtor's ability to do anything other than make things worse. It also can lead to some very nasty and expensive litigation - although not always.

Re: Indigo Bay Developer Goes Bankrupt [Re: Snorkeller] #156915
03/16/2018 10:31 AM
03/16/2018 10:31 AM
Joined: Nov 2009
Posts: 3,278
Maryland/DC Metro
BeachKitten Offline
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BeachKitten  Offline
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Cool!

TTOL...always teaching me something. wink


"It is good to do nothing all day, and then to rest" wink
Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #156920
03/16/2018 11:09 AM
03/16/2018 11:09 AM
Joined: May 2002
Posts: 5,262
Kennys Offline
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Kennys  Offline
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There are two parts of the development . It's not completely belonged to one party.

Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #156923
03/16/2018 12:20 PM
03/16/2018 12:20 PM
Joined: Aug 2000
Posts: 2,666
MIA
I
irina Offline
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irina  Offline
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Wasn't that originally owned by the family that built Pt. Pirroutte and Rainbow?
Can't remember the name now. Marc was who we dealt with at Rainbow......
I remember the patriarch had a very strong personality.
I guess they sold Indigo to another entitiy.

Re: Indigo Bay Developer Goes Bankrupt [Re: irina] #156931
03/16/2018 03:00 PM
03/16/2018 03:00 PM
Joined: Apr 2001
Posts: 14,635
Brookfield, CT.
pat Offline
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pat  Offline
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Would that have been Errato or Onorato or something somewhere in between? The name and reputation leaves a very sour taste in a lot of mouths if that's the same person.


Respectfully,

pat



"Always keep your words soft and sweet, just in case you have to eat
them."
Re: Indigo Bay Developer Goes Bankrupt [Re: irina] #156944
03/16/2018 06:47 PM
03/16/2018 06:47 PM
Joined: May 2002
Posts: 5,262
Kennys Offline
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Kennys  Offline
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No it wasn't the Erato's . Another American and some big locals. The American side went belly up.

Re: Indigo Bay Developer Goes Bankrupt [Re: irina] #156953
03/16/2018 09:52 PM
03/16/2018 09:52 PM
Joined: Jan 2015
Posts: 705
South Coast of MA
S
SXMBND Offline
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SXMBND  Offline
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Posts: 705
South Coast of MA
Erato started Red Pond over near Guana Bay and walked from that one. I have been told he is in Anguilla and will be arrested if he returns to SXM.

Re: Indigo Bay Developer Goes Bankrupt [Re: SXMBND] #156987
03/17/2018 01:12 PM
03/17/2018 01:12 PM
Joined: Nov 2009
Posts: 3,278
Maryland/DC Metro
BeachKitten Offline
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BeachKitten  Offline
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Maryland/DC Metro
Oh those Erato's!

http://smn-news.com/st-maarten-st-m...rrest-son-of-well-known-businessman.html

Even on Anguilla with Turtle's Nest he runs into problems.


"It is good to do nothing all day, and then to rest" wink
Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #156991
03/17/2018 01:54 PM
03/17/2018 01:54 PM
Joined: Aug 2000
Posts: 2,666
MIA
I
irina Offline
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irina  Offline
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Yes! Marc Erato. Dealt with him when we bought penthouse at Rainbow and his Daddy built in front of us.
Marc did get us our money back.
And yes, the project in Cupecoy is Rainbow and the project in Red Pond was Aquarius. Lot's of people got ripped off there.
Somehow thought he was connected to Indigo somehow. Hmm.

Re: Indigo Bay Developer Goes Bankrupt [Re: Carol_Hill] #157001
03/17/2018 03:17 PM
03/17/2018 03:17 PM
Joined: Dec 2008
Posts: 2,106
Southport, North Carolina, US
candj Offline
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Southport, North Carolina, US
Originally Posted by Carol_Hill
I can't say I'm surprised, in general, but they had been advertising in the Daily Herald until really recently, including ads saying how the project survived virtually unscathed from Irma, according to them. I hope that no one bought in, as a result of those ads!


This is always sad for those people who are already committed and can now lose a lot of money. In the article it said that those partially complete houses now need to find another contractor to finish their homes. With all the rebuilding going on because of Irma, I bet building supplies are scarce and expensive.


Fair winds and following seas!
SSN691-May She Ever Prowl The Seas in Defense of Human Freedom!
SSN787-Preserving Peace, Prepared for War
Re: Indigo Bay Developer Goes Bankrupt [Re: candj] #157003
03/17/2018 04:12 PM
03/17/2018 04:12 PM
Joined: Aug 2000
Posts: 82,482
Central Florida!
Carol_Hill Offline
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Carol_Hill  Offline
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Central Florida!
Speaking from experience, here in Florida right now, times two!!! Shingles cost twice that they did, pre Irma, and getting someone to work on your house??? Only (somewhat) priceless!!!! duh


Carol Hill
Re: Indigo Bay Developer Goes Bankrupt [Re: jazzgal] #157006
03/17/2018 04:49 PM
03/17/2018 04:49 PM
Joined: Dec 2008
Posts: 2,106
Southport, North Carolina, US
candj Offline
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candj  Offline
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Posts: 2,106
Southport, North Carolina, US


Fair winds and following seas!
SSN691-May She Ever Prowl The Seas in Defense of Human Freedom!
SSN787-Preserving Peace, Prepared for War
Re: Indigo Bay Developer Goes Bankrupt [Re: Carol_Hill] #157013
03/17/2018 07:19 PM
03/17/2018 07:19 PM
Joined: Nov 2009
Posts: 3,278
Maryland/DC Metro
BeachKitten Offline
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Originally Posted by Carol_Hill
Speaking from experience, here in Florida right now, times two!!! Shingles cost twice that they did, pre Irma, and getting someone to work on your house??? Only (somewhat) priceless!!!! duh


Aren't there price gouging laws? Or ethical corporations (maybe Home Depot) that maintain consistent pricing policies?


"It is good to do nothing all day, and then to rest" wink
Re: Indigo Bay Developer Goes Bankrupt [Re: BeachKitten] #157015
03/17/2018 07:28 PM
03/17/2018 07:28 PM
Joined: Aug 2000
Posts: 82,482
Central Florida!
Carol_Hill Offline
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Carol_Hill  Offline
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Posts: 82,482
Central Florida!
Theoretically, if you want to wait about 12 months. Home Depot, as far as I know, and other companies like Lowe's, don't actually have people that do work like this They contract with local contractors to do the work.


Carol Hill
Re: Indigo Bay Developer Goes Bankrupt [Re: Carol_Hill] #157018
03/17/2018 07:34 PM
03/17/2018 07:34 PM
Joined: Nov 2009
Posts: 3,278
Maryland/DC Metro
BeachKitten Offline
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BeachKitten  Offline
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Maryland/DC Metro
Oh, I'm sure labor is crazy. I was referring to the price of goods such as shingles.


"It is good to do nothing all day, and then to rest" wink
Re: Indigo Bay Developer Goes Bankrupt [Re: Carol_Hill] #157023
03/17/2018 08:23 PM
03/17/2018 08:23 PM
Joined: Mar 2001
Posts: 17,476
Ohio
ruralcarrier Offline
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ruralcarrier  Offline
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Ohio
Originally Posted by Carol_Hill
Theoretically, if you want to wait about 12 months. Home Depot, as far as I know, and other companies like Lowe's, don't actually have people that do work like this They contract with local contractors to do the work.

Correct and getting any kind of labor it tough as it has become to easy not to work.


J.D.

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