Today’s rulings at a glance (notifications on 5–6 November 2025)

• The Court dismisses a bank’s appeal and confirms full liability under a collective (blanket) guarantee in a case where buyers paid via Ocean View—a well-known intermediary from the early-2000s boom—without individual guarantees. Outcome: 100% of deposits + statutory interest from each payment date, with costs.

• In a separate ruling, the Court reiterates that statutory interest on deposits runs until the day the buyer is reimbursed, even if the developer is insolvent. The guarantee is autonomous and cannot be cut short by insolvency rules that apply to the developer.

These decisions reaffirm the public-order, buyer-protective purpose of Ley 57/1968 (now developed under Law 20/2015) and close the door on defenses based on “lack of control of funds” or the use of intermediaries.

Why this matters

• Safety consolidated: Spain remains among the safest global markets for off-plan investment.

• No loopholes: Once (1) on-account payments and (2) non-delivery are proven, the guarantor pays in full—no “funds control” defense, no intermediary gap, no interest cap at insolvency.

• Policy continuity: The Court applies the law as it was intended in 1968: seriousness with buyer funds and effective guarantees.

Two distinctive features clarified

• Intermediary structure (Ocean View). Having Ocean View between purchaser and developer—and being the guaranteed entity—does not weaken protection. Payments channelled via the intermediary still trigger guarantor liability when tied to the contract.

• Collective vs. individual guarantees. A valid collective guarantee fully covers buyers upon non-delivery even if no individual certificates were issued.

Practical takeaways

• Collective guarantees bite: 100% refund + statutory interest from each payment date.

• Intermediaries don’t break the chain: Payments via Ocean View (or similar agents) count if they align with the contract and can be evidenced.

• Autonomous guarantee: Developer insolvency does not stop interest against a solvent guarantor (bank/insurer).

• Costs risk: Courts continue to award costs where appropriate.

Plain-English summary of the Court’s approach

• Autonomous guarantee, not accessory surety. Limits like “the surety cannot owe more than the debtor” do not reduce the guarantor’s duty here.

• Interest runs from each deposit until reimbursement. Insolvency interest caps apply to the insolvent developer, not to a solvent guarantor.

• Objective: Make buyers whole and sustain trust in Spain’s off-plan market.

Q&A: Fast answers for buyers

Q1. No individual guarantee—can I still claim?
Yes. A valid collective guarantee for the development is enough.

Q2. I paid through an agent (e.g., Ocean View), not into the guarantor bank. Is it covered?
Yes. If the payments correspond to your contract and you can evidence them, they qualify.

Q3. The bank says it never “controlled” my money. Is that a barrier?
No. Under a collective policy, liability follows the guarantee, not custody of funds.

Q4. What can I recover?
100% of deposits plus statutory legal interest from each deposit date; costs are often awarded.

Q5. The developer is insolvent—does my claim stop?
No. Interest continues until actual reimbursement; the guarantee is autonomous.

Q6. What documents should I gather?
Your reservation/purchase contract, proof of payments (transfers, receipts), agent invoices/emails (e.g., Ocean View), and any collective policy/guarantee wording.

This is another CostaLuz Lawyers victory, delivered hand-in-hand with our litigators at DeCastro Gabinete Jurídico—an alliance born in 2008 when Keith Rule knocked on our door; Keith has been part of the CostaLuz team for years.

If you have any questions, contact us.