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Profits and losses Vol. 1 Issue

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October 24th

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2019

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They’ve been getting stoned for centuries. Now UNESCO is interested in Mallorca walls. SEE PAGE 6

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REuse REduce REcycle

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Expats millionslose

whose by hasboss Darren Kir- It is moved now allegedly to Australia. 300 believed One at least Costa-del-Sol- clientsof CWM’s based pension have had 900 Olive expat told Press their £59,000 the mated, pots he sunk decishocked with CWM, through cover victims only realising to later had the value dis- to his lost £39,000 he investments of their ainend up back when meted sent apension on benefits.”in Brithad plumtrustees However, dramatically. statement. “I have “I couldn’t close have believe a source praise for nothing lost thousands [Trafalgar Tony but pounds,” it. I sisted: to the case Barnett victim, revealed of many ‘There are in- Stewart MD] customers still mentum Davies asking and main the are happy [Mo“The anonymous.to re- pension with who tive]. Theychef execuadviser portfolio.’ their magnificent And ing me, have kept tell- tax aluc (CWM) Manlast been ing to teed, it ‘This is ia-b folded Many specialist recoup in trying month a s e d money.” can’t go guaran- Brooks, certain Untitled-1.pdf obliteratof them people’s below Brits’many heartbroken transferred level’.” a pert on a leadingAngie The Olive life savings. 1 16/06/2017 vate had His money, eration pension ex- derstands UK their pri- others acrossand Press through15:36 that pensions France, schemes lib- possible unit is the company, Spain of the founder legal highly and may be high-risk was put and Life, has of Pension parties taken by action into a fight now launched investor ‘professional against some tims’ to help has been only’ assets, money get CWM, claimed. it She is working back. vicside pension alongTrafalgar trustees and International sions.Momentum Pen- based “People ters in out of headquardistressed,” are terribly executives. Alicante, based Granada- Both and its Olive Brooks told the lost Press. “They the and the office in website Javea their large amountshave recently shut. have ings.” retirement of When sav- spoke the Olive She to boss Press ‘definitively’ these added: “Some Kirby people he of responsibility are going denied crash. world,” “I have over the Find out A closehe said. lost my more on Kirby’s associate told Press page XX of 20 formerthe Olive staff set’. were all ‘veryCWM Ave de Gabriel “It is upstill quite Roca 4, Palma for them, working and they raw out what are next,” he said. to do

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Directo manag r of disgraced busine ement firm rakCosta Blanca financisses while trio es in €1millio wealth al ruin, cancerof British cla n for her A WELL ima and dep gner has-KNOWN expat ression nts battle been accuse fashio

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Power grab

SPAIN’S PP party cious back plans for a has set out control power grab audafrom Valencia to take and a u t o the other nomo regions. us Leader Casado Pablo nounced ancommitment his strengthen to central the to the government’s national role in He insisted elections the run prevent that in a fortnight. up in taxes. corruptionsuch a move and lead would It comes to a drop off the as the party Party, threat from attempts whose autonomous leader an insurgentto see has described Vox cer of parliaments UnderSpain’. as the the the plan, ‘canse resources the delegations for PP wants regional to increatransfer and of power paralyse government any to the court. regions. further

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WOAH: Emerging the rock, from stunning this in Valenciahome is trademark Fran Silvestre, a Spanish architect is continuing who to make his mark in the architectural world. See Fran-tastic page VI

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STEADY

HE average two consecutive property The national years price in 3.9% to Along average for the Spain has the Mediterranean 8.4%, house first time grown most foreigners according price rose in a decade.for cording Prices from coasts to various But the to Tinsa,buy, the average and on sources. between Spain’s while rise for two during figures have leading price hike the islands, mortgage consecutive the long mostly property has been where six year not yet 4.06%, values recession, made appraisal ac- Balearic Islands. company. up for continueyears, “Prices with the the big have been exception However, drops but nothing to grow Spanish he added of the enough like rising most respectedto claw they did in years since Mortgageproperty ‘at the very the boom the analystback the ground January lendingcontinued least, the years, recovery Mark to grow data Stucklin, lost in and nowherebegan, Spanish to 19,390 to home last year.’suggests that the bust,” Notaries. new loans,buyers meanwhile of Spanish near The average the according Propertyexplained an increase new loan made to the was up 6.1% Insight. residential of 0.9% Association in in a year.in January the last acquisitions of few years, As long had a value continues as mortgageof €135,616, the Spanish to increase, lending property marketas it has done for is set to for grow.

See Property Magazine inside

Judge boss set to take of suspect further to turn investment steps up at after court companyexpat fails

EXCLUSIVE By Joshua Parfitt

ality homes since 1958

Supremacy Cont Casado Spain insisted the REuse REduce court move REcycle tively’. being administered on March would According The election 26. ‘more see to Olive effecparty hopeful Press b view ofwould carry stated that his out a how operate o’s lookingthe regionalsweeping rety.’ us? at ‘efficiencyauthorities Spain’s and equi2017. quasi-federal of ‘autonomous Should the constitution states’political have system legged ter Pedro it in 1978. was added pub s ning to Sanchez, the constitution, to Alicante HOW whose Prime Minisplan, insisting WE TOLD last year. strongly party drafted ‘tooth IT: Our Three Lion and nail’the PSOE opposed will now pub s nal self-government. the would 2017 the principal ways,” have to reports defend a source pursue of regio“A judge him in said. other it’s under is dealing vings “We understand legal with in the review,” this and The firm, process. he added. he is Marriott which currently to ten’ Hotel, was based out in ttered telesales in Denia, of the asked around staff and had ‘eight Europe, clients tions to sign blank revealedsca- vested and their dealing pensions instruca large in high-risk commissions. assets being One pensioner NO SHOW: which inpaid ta Blanca based Darren res. “It lost told the on Kirby €210,000 is a blank wherever, Olive the Cos€470,000 Press whenever.cheque “It is low to despiteafter transferring he to invest very investing worrying “I was medium risk stating clients’ risky as they blank asked, ‘Canattitude.he had a form. funds investments money in were ls.’ I did We will you sign just becauseas well highly gher commissions.” fill in in my that trusting this as dubious the detaithey paid He added “They best interests,” they would the hiinvestors that for me should have he said. act verable shouldlosses sustained been looking their and they however, led to as the investments by what own nests.were just feathering out See pages be recothey were To me linked perform, Lawyer 26-29 or went that doing.” they knew When to life insurance Lawbird Antonio bust, faiFlores, hold the Olive policies. were of victims,is representing whose deniedof Kirby in Press finally firm ment said signing a number all responsibility. October my world,” Tel. (+34) “This sheets was blank 2017, got 96 649 negates ‘very worrying’. investhe said. info@hispaniahomes.es financial “I have he 18 the very www.hispaniahomes.co.uk29 Are you lost advisory essence services,”said member? a victim of HOW TO the case? Do you or former FloSELL Contact know more staff newsdesk@theolivepress.es QUICKER YOUR PROPERTY the Olive about AND BETTER Press at FIND OUT

WHY INSIDE

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As sherry gets big in London, we look quirkyat some Jerez cocktails

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Expats millionslose

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ON reigns life savings in the bill over who through for Mallorca the collapse h. investment failed of airels are scheme ill over facing the col-a the emergency over EXCLUSIVE 110,000 K, many By Joe Duggan from HUNDREDS PMG ish expats debt told the owed to retrieve iers will by Britare of sions rank battling laim’ against

PE O

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Who’s paying

Best English Pub in Palma

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now o losses. recoup CMW attemptclients’ The Olive Press has unable so far to discover registered if CWMbeen ment adviceto provide was investcial financial with Spain’s regulator offiCNMV. Opinion

whose by hasboss Darren moved now Kir- It is allegedly to Australia. One 300 believed based Costa-del-Solclientsof CWM’s at least Olive expat pension have £59,000Press told had 900 the mated, he sunk CWM, pots their shocked with only had through decirealising cover victims to later his lost £39,000 the value he investments sent pension when meted a statement. of dis- to end “I couldn’t trustees had their ain on up back dramatically. However, plum- “I have benefits.”in Britclose lost believe have pounds,” thousandsit. praise sisted: to thea source nothing victim, for Tony revealed ofI many ‘There [Trafalgar case main but asking in- Stewart Barnett customers are still “The anonymous.to the are happy MD] mentum Davies re- pension and ing adviser with who tive]. An [Moportfolio.’ teed,me, ‘This kept telltheir magnificent Theychef executransferred of them tax d a l u c i certainit can’t is guaranhave a-b ing to specialist Brooks, been ase level’.”go below had His money, through15:36 UK their prid money.”recoup in trya pert on a leadingAngie others The people’s eration the pensions France,acrossand that pension ex- derstands Olive company, schemes libhigh-risk was Spain of the founder Press possible it put and Life, has investor ‘professional unand may into a fight nowof Pension legalis highly has been only’ be taken parties action tims’ to helplaunched assets, claimed. againstby some get vicit She ismoney back. CWM, side working pension Trafalgar alongand trustees International sions. Momentum “People Pen- based distressed,”are ters out of based terribly in Alicante, headquarexecutives. Olive Brooks GranadaBoth and told lost Press. its “They the and the office their large amounts the have recently in Javea website ings.” retirement of When shut. She have sav- spoke the these added: Olive to boss ‘definitively’ people “Some Press are going of responsibility Kirby he crash. denied world,” “I have over A close he said. lost the my XX 20 Kirby’s associate Press told of staff formerthe Olive Ave de set’. were all Gabriel Roca 4, ‘veryCWM “It is Palma upstill for them, quite working and they raw next,” out he said.what to are do

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Ave de Gabriel

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As Spain celebrates Hispania the Olive Day, runs a Press rule over Columbus

PENS OUTRION AGE

SPAIN’S accused prime minister Catalan Puigdemont has leader sion’ after of causing Carles signing ‘confuof independence. a declaration Mariano Rajoy clarify if he had demanded independence he really day’s nail followingdeclared Catalan biting address TuesIf so, parliament. to the trigger Rajoy insisted Article constitution 155 he could take direct to allow of Spain’s Madrid control “There to of put an is an urgentCatalunya. end to need to Catalunya the is going situation that through - to Continues

Who’s paying

CONFUSION in life savings should reigns hotels foot the bill over who through hit by the for Mallorca line Monarch. collapse failed investment Balearic of air€10millionhotels are scheme lapse that bill over facing a the colsaw the repatriation emergency EXCLUSIVE back to of over By Joe 110,000 Palma. the UK, Duggan many Administrator from HUNDREDS Olive Press KPMG ish expats Monarch ‘the debt told the to hoteliers owed by to retrieve are of Britas an unsecured battling will rank sions the defunct their claim’ after losing penagainst airline. “They £20 million will have up to the joint pension to file a in a failed claim to the moneyadministrators scheme. investment they are a spokesman. for Spanish-based OFF TO owed,” all “It has OZ: said cial advisory (yet) hownot been finan- and (above) Boss Kirby tinental determined firm team available much money agement Wealth Con- March charity at to creditors.” will bash be

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HAVEN OF SERENITY A seaside sanctuary where tranquility trumps tourism and time slows down

HE serene and sophisticated coastal town of Moraira is from a different era. Just 30 minutes away is the Brits’-favourite resort of Benidorm, very much a part of the modern world. But for a taste of old Spain - although very much with all the mod cons - stay in Moraira. Once a ﬁshing village sandwiched between the mountains and the Mediterranean, it has been transformed into a sought-after retreat

where barefoot luxury and old-world charm coexist in perfect harmony. Unlike many of its neighbours, Moraira has steadfastly preserved its roots. Think cobbled streets, terracotta rooftops, and a peaceful pace of life that draws in those seeking a quieter, more reﬁned slice of Spain. You won’t stumble upon signs advertising a full English breakfast for €1 or pubs blaring Premier League matches here.

Instead, Moraira caters to a discerning crowd - well-heeled Spaniards, style-savvy expats, and repeat visitors who appreciate its low-key elegance and Mediterranean soul. Despite its growing reputation, the town has managed to retain its intimate feel. Moraira has a year-round population of around 10,000, but in the height of summer, that number swells to over 35,000 - a testament to its allure.

What makes Moraira special, even with this inﬂux? For locals like Honorato Ibanez, a 63-year-old restaurateur who moved here from Granada more than three decades ago, the magic lies in the everyday rhythm of life. “The peace here is the main thing,” he says. “It’s just cortijos and campo. There is almost no stress - there aren’t even trafﬁc lights!” Continues on next page

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