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Did i just go bankrupt?

Telex

New Member
I sold my factory in Germany on September 2019 and transferred everything to bank Audi in Beirut (70% into Lebanese pounds and 30% into Euro)
the reason for this transfer was to purchase an apartment in Beirut and a chalet in Faraya.

I am an expat who was looking to return to Lebanon to re-unite with family and become a permanent resident once again.

Can someone please update me on what is happening with the current economical situation? I am aware of the "temporary" capital controls but i would like more ideas as to will happen in the near future.

Did i just lose all my money?

Thanks
 

SoFP1

The Chosen One
Orange Room Supporter
Yah. You lost everything. Maybe a weak haircut will save some of your money, enough to take a ticket back to wherever you came from. Like Wiaam Wahhab said...Karatouwon!
 

Telex

New Member
Yah. You lost everything. Maybe a weak haircut will save some of your money, enough to take a ticket back to wherever you came from. Like Wiaam Wahhab said...Karatouwon!
Do you believe so?
Dont forget the Gov recently completed payment on the issued bond
 

williamazar

Active Member
Do you believe so?
Dont forget the Gov recently completed payment on the issued bond
You still can buy a real estate with money.
A lot of real estate companies with a lot of loans, are accepting transfer payments.
So no you didn’t lose anything.
You can buy an apartment and everyone is doing so...
 

SoFP1

The Chosen One
Orange Room Supporter
You still can buy a real estate with money.
A lot of real estate companies with a lot of loans, are accepting transfer payments.
So no you didn’t lose anything.
You can buy an apartment and everyone is doing so...
Best bet!!
 

Telex

New Member
You still can buy a real estate with money.
A lot of real estate companies with a lot of loans, are accepting transfer payments.
So no you didn’t lose anything.
You can buy an apartment and everyone is doing so...
But will they accept Lebanese liras for payment?
 

dyyyy

Well-Known Member
I sold my factory in Germany on September 2019 and transferred everything to bank Audi in Beirut (70% into Lebanese pounds and 30% into Euro)
the reason for this transfer was to purchase an apartment in Beirut and a chalet in Faraya.

I am an expat who was looking to return to Lebanon to re-unite with family and become a permanent resident once again.

Can someone please update me on what is happening with the current economical situation? I am aware of the "temporary" capital controls but i would like more ideas as to will happen in the near future.

Did i just lose all my money?

Thanks
First of all what you sure lost is the conversion rate of the LBP

Concerning your money :
- There are special handlings for "Fresh money", money that came from outside lebanon
- The capital control is not legal so banks are counting on you not to go to too much trouble but in your case it's worth it, so you can hire an attorney and handle it.

There is also a group a lawyers that can help for free, check their page
جمعية اصحاب الودائع المصرفية
 

Jo

Administrator
Master Penguin
I sold my factory in Germany on September 2019 and transferred everything to bank Audi in Beirut (70% into Lebanese pounds and 30% into Euro)
the reason for this transfer was to purchase an apartment in Beirut and a chalet in Faraya.

I am an expat who was looking to return to Lebanon to re-unite with family and become a permanent resident once again.

Can someone please update me on what is happening with the current economical situation? I am aware of the "temporary" capital controls but i would like more ideas as to will happen in the near future.

Did i just lose all my money?

Thanks
You did not lost your money.

You can buy Real Estate with your Lebanese Liras - Check JSK Real Estate - Search Lebanon's properties for sale and to rent I saw an ad for them some time ago advertising about this.

Wait, i will find it.
 

Ralph N

Well-Known Member
Please do share it

They promised certain quality of a house but after they received their money they ignored everything they promised. I couldnt afford a lawer.
They stopped taking my calls and told me its not their interest anymore.
 

Jo

Administrator
Master Penguin
They promised certain quality of a house but after they received their money they ignored everything they promised. I couldnt afford a lawer.
They stopped taking my calls and told me its not their interest anymore.
But they are brokers. They do not actually build houses. Are you sure its them?
 

Ralph N

Well-Known Member
But they are brokers. They do not actually build houses. Are you sure its them?

I signed a contract in their office, they promised me certain qualities of my new house, but on delivery they didnt deliver me those qualities, when I contacted them they started to make excuses etc... I said that its not fair, we signed the papers and in the contract I have rights, they just said they cannot give more and that I should be happy that I bought a house, very unprofessional.
 
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