Reid`s Property in Ireland has suspended their partnership agreement with Eurogroup BG pending outstanding payments due by Eurogroup BG to Reid`s Property. Eurogroup BG was due to pay Reids Property commissions for a concluded sale in December, and at time of writing 04/03/09, Eurogroup BG have not done so. Eurogroup BG received most of their commission payment in December 2008. After 2 months of requesting payment and being guaranteed payment over a month ago in February 2009, by Ms Katia Todorova the manager of Eurogroup BG, Reid`s Property has suspended the agreement pending full payment. Ms Katia Todorova refuses to answer emails sent by Reid`s Property requesting payment and has refused to pay. Various excuses and delays by Eurogroup BG were offered including offers of part payment, which never materialised, which were nonsensical and were obviously attempts at delaying payment. Reid`s Property will be instructing their legal team to pursue Eurogroup BG via legal means for collection of payment in Bulgaria. Reid`s Property have been in property for over 22 years and have over a billion euros property portfolio. They have never had an experience like they have had with Eurogroup BG. Even at this late stage Reid`s Property offered Eurogroup BG the option to pay and continue the co-operation, as Reid`s Property had other clients that were very interested in some developments. Unbelievably Eurogroup still remain silent and refuse to pay.
Reid`s Property Group have over a billion euros property portfolio across Europe, Russia, America, South Africa and Australia. Reid`s Property also offer finance for multi million euro developments with minimum of 1 million euro applications.
