El blog de Maria

ads said:
Monday, May 5, 2014 @ 7:46 PM

Does this first instance legal argument " the legal character of the obligation of the Bank to supervise the good functioning of the off plan related banking for the safety of the buyer" only relate to those cases where proof is available to demonstrate that monies were transferred into a developer's Bank account linked to the development, Maria?

Or does this latest ruling widen the scope of moral responsibility to include Banks that provided a generic BG without proper control of issuance of individual BG's / secure accounts, both essential pre-requisites to protect the safety of buyers?

mariadecastro said:
Wednesday, May 7, 2014 @ 11:43 AM

Liability of conrolling the existence of the corresponding Bank Guarantee is of the Bank which receives the deposit.

You can enforce the General Bank Guarantee though if you prove that you made your payment to the developers account.

ads said:
Wednesday, May 7, 2014 @ 12:02 PM

Thank you Maria.
Please could you clarify what is the definition of "developer account" in the case of enforcing a generic BG?
Is it any account in the developers name, or does it have to be an account linked in some way to the development?

mariadecastro said:
Wednesday, May 7, 2014 @ 12:07 PM

Ads.
It has to be linked to the development

ads said:
Wednesday, May 7, 2014 @ 12:18 PM

How do you determine that a Bank account in the developers name was linked to the development Maria?
Is this part of the essential evidence that a conveyancing lawyer is required to provide to ensure that a claim against the generic guarantor can proceed?

mariadecastro said:
Wednesday, May 7, 2014 @ 12:22 PM

Ads:
There is not just one way to prove this:
- Sometimes the account has the development ´s name on it
- If the account was same branch as developer´s mortgage, Case Law makes the assumption Bank knows those payments were made by off plan buyers
...
Maria

ads said:
Wednesday, May 7, 2014 @ 12:32 PM

Thank you so much Maria.
Hopefully we are covered by one of those scenarios!
I hope that this knowledge assists others.

mariadecastro said:
Wednesday, May 7, 2014 @ 1:25 PM

Thanks Ads!

trowell1 said:
Wednesday, May 7, 2014 @ 6:00 PM

Hi guys
What I can't understand is, that with all that is going on , the banks are still resisting to the point of years, when knowing they have to pay at some point.
Aside from the frustration, it just adds to the loss of faith within the spanish economic/legal system (what's left of it)
Any thoughts?

mariadecastro said:
Wednesday, May 7, 2014 @ 6:55 PM

Trowell:
You are very right.
For your joy: we had Bankia settling in Court in one of our cases today