Legal tip 1233. NEW! Comments on recently won case in Sierra Blanca, Marbella, against BARCLAYS
Thursday, November 27, 2014 @ 12:08 PM
BANK ACTION RECENTLY WON AGAINST BARCLAYS BANK S.A.
Last week we were very pleased to inform one of our clients that their Bank Action against Barclays Bank had been won. It is very interesting that the Spanish division of a British Bank will be refunding a UK buyer who had reserved on a failed off-plan development in Spain – SIERRA BLANCA.
The final paragraph of the First Instance Sentence delivered on 12 November 2014 states:
“I estimate the Lawsuit filed on behalf of Mr XXXXXX XXXXXXX against BARCLAYS BANK S.A. and condemn the defendant to pay the plaintiff the amount of XXX,XXX Euro plus interest from the date of filing of the Lawsuit, with legal costs imposed on the defendant”
Very interesting statements by the Judge in the Sentence are:
“In light of the evidence at the Trial it has been established that the defendant Bank knew that the account opened was used by the developer Sierra Blanca for receiving amounts paid by off-plan property buyers and that the Bank failed to demand that the developer obtained the corresponding Guarantee or Certificate of Insurance.
The testimony of the Bank Manager with regards to how the events, subject to these proceedings occurred, also proved especially enlightening.
He explained that the developer Sierra Blanca was his client and that it only had one account opened in the Bank. He also knew that the client was a developer dedicated to the construction of homes. In fact he said that during his time as Manager of the Branch, the developer ‘made many off-plan projects’ one of which was financed by the Bank.
When questioned regarding the Bank account, the Manager said it was an account ‘with good movements’ constantly receiving income and transfers. When asked if he and the Bank were aware of the origins of the money received into the account he replied ‘we are not fools’ and commented that it was common for the developer’s daughter the developer himself to take income and on one occasion he was told ‘it is for one that I sold’.”
A beach of Marbella, Málaga, South eastern Spain