2005-03-18-Return Of Funds

MI SOL PARK COMMUNITY OF OWNERS
CALLE VILLA MADRID
APARTADO 63, 03180 TORREVIEJA
ALICANTE, SPAIN.
TELEPHONE
(00 34) 96 571 10 54
Torrevieja 18th March 2005


Re 45681.84 Euros Returned to Mi Sol Control on 8/6/2004

In April 2002, the entire balance of the Mi Sol Park Community of Owners bank account was blocked. An amount in excess of 65,000.00 Euros.

This was done following a deputation of owners visiting the bank with acts of an Extra Ordinary Meeting claiming that Antonio Escudero was now new President of Mi Sol. This was disputed by the community, and more importantly by those members of the community who actually deposited this money into the Mi Sol Account.

Following a long period of time and hardship the matter was resolved by the court Antonio Escudero’s EGM was disqualified and the funds were returned to the control of Mi Sol on the 8th June 2004.

These funds were originally paid into the Mi Sol bank account by members of the community for the purpose of enabling Mi Sol to meet its financial obligations.

Between the return of these funds on the 8th June 2004 and approximately 20th September 2004 those same funds were able to be used for the purpose for which they were collected over two years previously. The attached justification of Gastos illustrates how this money was used.

It is a credit to the Presidents “Good Housekeeping” that this action by Caja Murcia did not seriously undermine the solvency of the community of Mi Sol during the period that these funds were denied their intended use.

This owner’s money is not available to be returned. It has been used by the community in accordance with the instructions of our owners who entrusted the president with it.

Simon Edgington---Treasurer