10 investors hung out to dry in Casco Viejo

TEN FOREIGN investors are involved in a 9 years dispute over apartments they planned to buy in a renovated building in Casco Viejo that received a court order to cease work but mysteriously was granted new permits.

PH Plaza Independencia , is owned by Rodney Zelenka whose former spokesman is now spin master for Presidenr Ricardo Martinelli.

The investors are suing Zelenka for breach of contract and damages.
Most are from Germany, Holland, Switzerland and the United States and acquired apartments in in 2006 , but to date have no property and their investment has not been returned.
According to the complaint submitted to judicial authorities, the developer promised, through a contract of sale, to deliver the property in two years after the buyers made their deposits
However, the document states that an extension of three additional months will be established as the causes of the delay were not attributable to the seller, in this case Zelenka, through companies and societies Blue Butterfly Investment Inc., Arco Chato Company SA and Yellow Guaiacum Investment Corp.
One of the buyers is affected German citizen Thomas Wöellhaf, who says not knowing what to do, because all his money was spent on the purchase of two apartments in the PH Plaza Independencia.
Wöellhaf says that the project over eight years ago seemed attractive because it was a structure in the heart of the Independence square, with 19 apartments from 92 to 239 square meters.
Other specifications was an elevator for 10 people, luxurious lobby, checkpoint security, social area with pool, bar, changing rooms and jacuzzi.
With all these features, this German investor opted to sign a contract on May 13, 2006 to purchase two apartments.
However, with the passing of the years he lost hope and now wants the return of the down payment of the $96,940 down payment and interest. He is also, seeking $200,000 damages.
"I have not much money and Rodney Zelenka is a millionaire businessman. I cannot buy another apartment because he has my money, and this is a difficult situation for me as I have now I have to pay rent. " said Wöellhaf.
“In thelast meetings I had with Zelenka in 2012 told me that I should not sell the apartment because now it is worth three times more ," In 2006 the two apartments had cost $ 450,000 , but in 2014 its price exceeds $1 million.
Niine others investors have filed similar lawsuits.
Panama Lawyer Hassan Karim Panama handles the cases of these entrepreneurs who mostly reside abroad .
Hassan said that since 2008 there is a commitment by Zelenka to deliver the apartments and condos to, but that has not happened .They are seeking more than $800,000 plus interest.
According to the lawyer, Zelenka argued that these people had breached the contract by failing to deliver a letter promise to pay by a certain date, and as a result he decided to keep the deposits. .
However , he said that due to problems with the law involving the PH Plaza Independencia and Zelenka, his clients chose to wait, but at no time refused to release the letter.
BACKGROUND
The legal problems that Hassan referred to date from 2009, when the Third Chamber of the Supreme Court ordered the suspension of works to settle a lawsuit filed by the Calicanto Foundation.
The reasons were clear: judges warned "apparent damage to the historic value of the property, and the apparent injury to the legal system in the processing of permits."
Sebastian Paniza , former director of The Historic and Cultural Institute (INAC) the historic value is indisputable, because the building was home to the first President , Manuel Amador Guerrero, and the hero Federico Boyd.
The Calicanto Foundation demanded the suspension of the works as they were covered with a building permit was not valid.
Despite the existence of this claim in court, the project achieved new permits. In 2010 INAC issued a resolution approving plans and, in March 2011 , the Department of Municipal Works and Construction issued a new construction permit.
Paniza , who is also in Panama representative of the International Council on Monuments and Sites (ICOMOS) regretted that the work resumed without any hindrance from the authorities.
Mezzanines and open bays have completely altered the facade and increased density of buildings. All this is prohibited by law, in accordance with Decree Law No. 9 of 1997 and Executive Decree No. 51 of 2004, says La Prensa.
Ramon Ricardo Arias, lawyer for the Calicanto Foundation, said they have submitted a request for information to the Directorate INAC for copies of the new permissions given to the promoters after the Court suspended work there.
As they refused, Arias, went to the Supreme Court and filed a habeas to ensure that the information be made public, but after three years it has not appeared. “Since 2009 the building permit was suspended and we want to know what new permissions have been given and if they go contrary to the suspension of the Court," he added .
"The law is clear, officials cannot repeat acts that are suspended by the Court. Arias was referring to the addition of new levels despite the court suspension of work order.
The foreign buyers have opened a page on the internet www.asociacioncompradorescascoviejo.com to report contract violations. It is headed "victims PH Plaza Independencia project, represented by Zelenka
Zelenka would not answer questions put to him by La Prensa but later said he is willing to meet with the newspaper on Thursday June 5, along with his lawyers.