Obtaining community debtors list from administrator

[Mazoka]

Can anybody tell me what the procedure is for obtaining details concerning the present community bank balance on our complex.

A potential buyer for my property has asked me for the last AGM minutes/report. The problem in supplying this information is that at the time there was a lot of monies owed by debtors, and the bank balance was at the time considerably in the red. This information would not give a correct analysis of the present situation.

At this moment in time the majority of the outstanding debt has been paid by the debtors, and the community bank balance is in the black and looking quite healthy. I would prefer to show the requested AGM details along with an up to date report/statement concerning the community bank balance.

[Janet]

A thorough buyer! That's good to see, really, and they are absolutely entitled to see the minutes from the last AGM. Bear in mind that these minutes will give very much more information than just accountancy details, showing how the community is run, what the general view is about controversial things (dogs, children, debtors, etc), and so on.

The administrator will be the only avenue for this, and they're obliged to provide minutes on request, so if you ask for them you will get them.  Also if you yourself are asked for them, you have no choice but to give them to a prospective purchaser because anyone who's asked for them will understandably probably just walk away if you hesitate.

They will just need to be handed over to your potential buyer with the caveat that the financial situation has changed in the interim, something that, if required, the administrators can confirm direct to your buyer.

[Mazoka]

Thanks for your reply Janet.

I agree totally that the potential buyers are absolutely entitled to view the minutes from the last AGM.

What I'm looking to do is provide the last AGM minutes along with an up to date debtors list, community bank balance and a statement confirming the improvement work which has been carried out since the last AGM, ie new tiles throughout all corridors of the complex. Renewal of the water supply pipes, renewal of various drains and manholes and the painting of the complex etc.

Supplying this information would hopefully give the potential buyers a balanced insight as to the way the complex has been taken forward since the last AGM. Overall it has become a much improved complex, far less debtors and a healthy bank balance.

[Janet]

all of these things can be confirmed by the adminsitrators, so that's the obvious route to take, really.

[NAH]

The administrator will be the only avenue for this, and they're obliged to provide minutes on request, so if you ask for them you will get them.

Our Administrator provided minutes for each AGM going back about 5 - 6 years when I requested. I was also told that a copy of any older ones, which were not stored in an electronic format, could be obtained by calling into their offices.

[Guanche]

There should have been a 'Obra Minor' licence obtained from the local council to facilitate the work you describe Mazoka. You could get a copy of them from the council offices if you have no joy else where.