Transmontagne Termignon

Hi Andy

We are also an owner at Termignon as are a number of our friends.

We have been liaising fairly closely with a small group of other UK and Irish owners with leasebacks to Transmontagne but theirs are generally at Chamrousse.

There seems to be a good exchange of information and we are all joining a French association set up to try and resolve this.

Please let us have your email address and we will send you the information and copy you in on emails. It would be good to have another Termignon owner.

Have you been out there recently since events have unfolded?

Cheers

Simon and Kirsten

Hi there,

I also am in the same position and would like to be copied on any emails and have details of the assoication that has been formed me and a friend both own both owners in termignon.

have just returned from there was there anything in particular you wanted to know.

BTW it was the busiest I've seen it (for the summer that is)

the stuff over the shops is not mangaged by TM it seems to be managed by someone called Tekao Club

Cheers Nigel...

Hi Nigel

Yes a friend of ours owns an umcompleted flat in the block with the g.f retail. Apparantly Transmontagne never completed their leases on this block and a company linked to the developer has stepped in and is paying them rent!

Good to hear is was busy - even in low season.

Did it still seem to be managed ok by Transmontagne staff?

Can we have your email and we'll get you on the circulation list.

Cheers

Simon and Kirsten

Hi There,

yes the manegement team are fine it is still the same team from my the last visit and they were quick to respond to any issues etc... and also very helpfull.

my email is nigel.charlton@gmail.com

Cheers Nigel...

Hi fellow Termignon owners, wish I was introducing myself under happier circumstances wanted to contact other owners since I first got my place but didn't know where to start so this forum is a godsend ! Like you am in the same boat no rent now for ?? (think it is 2 quarters now ? what about you ?) Haven't been to Termignon recently but when I've been able to use my apartment it's been great ! Was supposed to be going this coming Saturday but unfortunately can't make it (if anyone here want's to use my free week let me know !) Spoken to Louanne recently who reiterated what was in her e-mail basically can't do anything until this 6 month period is up. Am annoyed at the lack of rent but feel long term that things will get sorted under another holiday company maybe La Grange or Resid Hotels? What are others thoughts ?

Rgds

Richard

David BOUCHE,

Please can you advise when the English owners will be receiving any official forms / letters to fill in/return to recover monies owed ? Thank you.

Rgds

Richard

I still have not received the official letter thru the post ? How about you ? Also does anyone know what has happened to our access to the swimming pool , sauna etc. I've heard that Transmontagne may have sold the block which contains this and we no longer have access to it ? Surely this is a major change to the facilities which we bought into, can anyone comment ?

Rich

We are also owners at Termignon and recieved the paperwork from the notaire yesterday. I have electronic copies of the claim documents if anyone else needs copies. Please can you add our email address to any mailing list on this subject?

joannehempenstall@hotmail.com

Many thanks,

Jo

hi , i`m new to this,have been pretty much in the dark especialy as i speak no french and all the correspondance they send me is in frenck.fortunately i have a very organised friend who has also bought a property with TM in another resort and he put me on to this forum.he alos tells me that TM have definately been bought out and that rents should be resuming soon but that we have to put an application into the recievers asap to reclain lost income.on a happier not we were there 2 weeks ago and despite erratic weather 32 degrees 1 day, in a cloud with a hint of snow the next we had a fab time.the village was really busy and enough different places to eat that you dont have to go to the same place twice in a week and the usual friendly reception from the owners of L`ion dor and petite ferme (him not her) when they recognise us as returning customers.

sorry hadn`t read all the previous correspondance-we are no longer allowed in the swimming pool, a little man there now on duty and explained they have nothing to do with TM so we were no longer members of the "club" that owns the pool

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Here is an edited version of the latest news sent out to the Domaine de L’Arselle Owners Group (Chamrousse.) It includes info that may be useful to other Transmontagne apartment owners. Please note that, regretfully, I can only deal directly with UK-based Domaine de L’Arselle owners, but I will continue to post any useful info I hear on the Chamrousse forum. If you are a UK Domaine de L’Arselle owner and haven’t heard from me (packages were sent out at the end of July), please contact me ASAP – my contact details are on http://domainearselle.unblog.fr/

I understand there are efforts underway to create an owners group for L'Ecrin des Neiges owners. I can’t recommend enough that you get together with co-owners of your Residence de Tourisme. The next Transmontagne Court hearing is September 4th and there’s a good chance they won’t exist after that. Beyond that, you will need the leverage that an Owners’ Group brings if you want to negotiate a new management deal – whether that’s with Transmontagne if they continue to exist - or a different organisation.

Ben Giles – UK Coordinator, ADIDAC (Domaine de L’Arselle Owners Group)

------------------------------------------------------------ ------------------------------------------------------------

Domaine de L’Arselle UK Owners’ Group News Aug 25th 2007-08-26

• If you have received a CA12 demand for TVA (VAT), this is a message from Joan, the Irish Owners Coordinator: "Hi all, I received a letter from SARL EUREFI today invoicing me for VAT. I phoned them to query it and was told that they have estimated the VAT due for 2007 and this is the amount I was invoiced. They didn't know that Transmontagne was in receivership or that they hadn't paid any rents, which surprised me, and they asked me to confirm this by email so that the VAT would not be due. You should all be receiving the same letter, so the email address is eurefi.mail@orange.fr, and her name is Daniella Loffredo."

• There is an extraordinary AGM for the Domaine de L'Arselle on October 6th at 2.30pm. I'm going to head down there. If you haven't been and you can spare the time, I can't recommend enough a quick visit to get a proper feel for the resort and how it all looks etc - it's so much clearer to me now, having just been down there. You'd also get the chance to meet Christian Delisle and ask him any questions. Please let me know if you'd like to join me down there.

• If you're having difficulties paying a French mortgage on your apartment, please get in touch. ADIDAC have offered to write on your behalf to any French Bank. They're confident that they can create some adverse PR for any banks that are unsympathetic and that there's quite a lot at stake here for the entire Leaseback industry. If you're experiencing difficulties, it's worth a shot.

So, Chamrousse. My wife and I got there on Tuesday morning, the weather was miserable and the place seemed deserted. But by that evening, suddenly everyone appeared and I'd estimate there were around at least 300 cars along the road that services all of the Domaine de L'Arselle apartments - for 500 apartments in such miserable weather conditions, the apparent occupancy levels were very reassuring.

We then had a meeting with Joachim, the Transmontagne manager for the Domaine de L'Arselle. He was very helpful and his answers frank - no doubt partly due to the fact that he will be leaving for a new job in a Swiss resort at the end of September. He feels that TM are good at running lift systems but not so great at managing Residences. TM aren't taking Winter bookings yet - but I guess they can't yet as they don't know if they'll continue to exist after the next Court hearing on September 4th.

All in all, the resort looked well managed, there was a programme of activities for guests and the properties are good quality holiday apartments. There are few minor details in some of the apartments that need to be addressed - exposed plumbing in some bathrooms for example - evidence that building was completed hurriedly in time for the December 2006 season. The manager, Joachim, told me that the original developer/builder is due to return in September to rectify any such faults - but it's something else I'll follow up. Other business owners seemed very upbeat. One Restaurateur spoke of constantly good levels of clientele and how Chamrousse has a regular stream of visitors all year round - especially as it is only 30 mins from Grenoble.

Overall, I was left with the overwhelming feeling that we are very fortunate that Christian Delisle and others have created this Owners' Group. At the moment, TM is under protection from it's creditors. But after September 4th we might decide to give the management of our apartments to another company, eg Pierre et Vacances etc. One of the French owners is well connected with the tourism business and has so far been in discussion with several of the big players about what they can offer us. By operating as a united group, we have a lot of leverage in any deal and my visit has reconfirmed to me what an excellent product we have.

In case you're unsure, we should get paid for most of the 3rd quarter of 2007 (anything owed after July 9th 2007.) As part of the administration process, money for apartment owners during this period has been ring-fenced, regardless of whether TM will continue to trade after Sept 4th. Anything owed prior to July 9th is dependent on the outcome of our claims sent to the Receiver, Mr Prebois.

Hope that helps. I'll forward any developments as soon as they arrive.

Kind Regards,

Ben.

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Hello,

In Termignon Vanoise an association is in the course of creation
www.lescoprosdetermignon.org

join us!!

Didier Breux

Hi Didier,

We are owners in Termignon and would be keen to join the association. I don't think the web site is up and running yet? Our email address is simonandkirsten@btinternet.com.

What is the best way of getting in touch with everyone?

Regards,

Kirsten

Can anyone please post a scanned copy of the paperwork received from the official receiver, I still haven't heard anything !! thanks

Richard

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Patrick-Paul DUBOIS D.E.S. DROIT PRIVE Mandataire Judiciaire

32 rue Moliere

69454 LYON CEDEX 06 mel:etude-p-p.dubois@pp-dubois.com Site: www.pp-dubois.com

Telephone: 04.72.75.49.50 Telecopie : 04.72.75.49.60

Marie DUBOIS Maitrise de droit notarial DESS droit immobilier Stagiaire

Lyon, Ie 23 juillet 2007

NOS REF A RAPPELER IMPERATIVEMENT : TRANSMONT AGNE RESIDENCES SAS 5830

CREANCIERS

Invitation a produire une creance. Delais a respecter. Invito aU'insinuazione di un credito . Termine da osservare Oproep tot indiening van schuldvorderingen. In acht te nemen termijnen

Anmodan att anmCila fordran. Tid frister att iaktta. Kehotus saatavan ilmoittamiseen. Noudatettavat mCiCirCiajat. Aviso de reclatna~Ciop de creditos. Prazos legais a observar. Invitation to lodge a claim Time limit. To be observed. Aufforderung zur Anmeldung eriner Forderung. Etwaige fristen beachten. Opfordring til anmeldeelse af fordringer. Ver opmaeksom pa fristerne. Convocatoria par la presentacion de creditos. Plazos applicables.

.poaKlpOI] Yla avayytAla anall]atWe; TIpa TOXI] One; npu£CNI£e;

Messieurs,

J'ai I'honneur de vous informer que par jugement en date du 10/07/2007 Ie Tribunal de Commerce de LYON a prononce I' ouverture d'une procedure de Redressement Judiciaire a I' encontre de votre debiteur :

TRANSMONT AGNE RESIDENCES SAS SITE EXPANSION

115 BOULEVARD STALINGRAD 69100 VILLEURBANNE

RCS 381145424

et m' a designe aux fonctions de MandQtaire Judiciaire.

Monsieur MARCEL POITOUXa ete nomme aux fonctions de Juge-Commissaire, Tribunal de Commerce de Lyon, 44 rue de Bonne!, 69003 Lyon.

Conformement aux dispositions du Code de Commerce dont vous trouverez copie ci- joint, je

vous invite a me faire parvenir, dans Ie delai de 2 mois a dater de la publication du jugement d'ouverture au B.O.D.A.C.C., la declaration de votre creance au jour du jugement precite (ce delai etant augmente de 2 mois pour les creanciers domicilies hors de la France Metropolitaine).

Concernant les creances du TRESOR et de la SECURITE SOCIALE, so us reserve des

procedures judiciaires ou administratives en cours, leur etablissement definitif doit, a peine de

forclusion, etre effectue dans Ie delai prevu a I'article L. 624-1 du Code de Commerce soit 10 mois a partir du jugement d'ouverture de la procedure.

Veuillez agreer, Messieurs, I'expression de mes sentiments distingues.

PJ 1: (Textes legaux et reglementaires relatifs a

Membre d'une Association agreee, Ie reglement des honoraires par cheques accep;"

Nigel thanks, Can anyone please confirm the last date for submitting claims to the receiver ? Thank you

hi,

for termignon contact me = didier.breux@gmail.com

www.lescoprosdetermignon.org

Didier
President of Les Copros de Termignon

Didier,

Could you possibly post back here what you hear from todays Court hearing. Also I'm sure your aware that Transmontagne have been paying owners in other developments their "back" rent owed from the date of the company going into receivership, Do you have any idea why Termignon owners have not been included also ?

Rgds

Richard