Cape Verde Investments

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Our mission is to gain justice for all investors in the Vila Verde resort

We are not going to accept the totally unreasonable demands that Tecnicil, with backing from their funder Banco Espirito Santo, are trying to impose on us. Despite our contracts clearly stating that we are entitled to a refund of our money for late completion, or compensation for every day of delay to the handover of our properties, Tecnicil claim that WE are at fault and they want us to pay THEM compensation before they give us our properties! They previously acknowledged that they were at fault but offered derisory compensation which they have now withdrawn completely. An arbitration test in Cape Verde case recently found in favour of Tecnicil to the astonishment of legal circles on the island. This was not surprising given that Tecnicil's Board consists of ex-politicians.

Tecnicil have admitted in an open letter (sent out after the arbitration result) that they were in breach of the contract. If they had admitted this 6 years ago we would be in a completely different place than the one we find ourselves in now. Yet this admission has done little for the clients with late delivery, as they are being asked to pay huge fees to access the completion of their properties or lose all their money by Tecnicil unilaterally cancelling the contract. This makes sense if you read about their new business plan. It has become apparent that Tecnicil can't do this and must in fact get a court to decide, so they are acting incorrectly.

It has also emerged that clients can challenge anything that Tecnicil decide to do unilaterally through the contractually outlined arbitration process!!
The goodwill and extreme patience shown by investors has been thrown back in our faces!
Our Aims
  • To bring corrupt practices in Cape Verde to public attention
  • To raise the profile of our group of investors who have had their properties taken from them 

  • To highlight Banco Espirito Santo's involvment with the problem and how they are seemingly refusing to deal with this '€80million toxic asset' on their books.

  • To raise awareness with the tourism industry and tour operators in the hope that they will boycott Villa Verde until justice is done

  • To get our properties back!
Intended Actions
  • To demonstrate at the offices of Banco Espirito Santo in London and Portugal

  • To demonstrate at the Cape Verde Embassy in London

  • To raise maximum media awareness about our cause

  • To file legal claims against Tecnicil assets, both via the Supreme Court and the Land Registry

  • To inform all major tour operators of our plight and the unethical behaviour of Tecnicil and demand that they refuse to do business with Tecnicil until they backdate all rental payments to owners and settle property disputes

  • To coordinate planned demonstrations at Villa Verde gates and Cape Verde government offices for any opening ceremonies that Tecnicil plans for new tourist deals

  • To demonstrate at the offices of any UK travel agents that sign tourism deals with Tecnicil

  • To advise all Real Estate agents of our pending legal claims on our properties and Tecnicil's assets