Borgo alle Vigne Update - April 2020

This has continued to be very frustrating – there have been many issues with the progress of Phase II which is how the bonds are expected to be repaid.

The Developer (Prime Investimenti), Hilton, and now at long last the municipality, have agreed and issued building permits whilst at the same time Best have considered alternative exits.

There are some funds from sales being held back, the largest portion of which is owed to Hilton. However in the event that Phase II does not progress then these monies may become available to other creditors, which could include investors. Now that there is progress from both the municipality with the Phase II route as well as another potential exit route, the plan is to push forward and get some these funds moved.