Did i just go bankrupt?

Telex

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
 
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  • SoFP1

    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

    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
     
    Thawra # Furoshima

    Thawra # Furoshima

    Well-Known Member
    Do you believe so?
    Dont forget the Gov recently completed payment on the issued bond
    Have hope
    Capital control 2/3 years
    Put your money in many names in many banks to avoid haircut
     
    W

    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

    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

    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?
     
    Telex

    Telex

    New Member
    Have hope
    Capital control 2/3 years
    Put your money in many names in many banks to avoid haircut
    One thing for sure, the capital controls will last for way more than 6 months.
     
    dyyyy

    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

    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.
     
    R

    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

    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?
     
    R

    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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