Legal tip 618. BBVA settling out of Court
Tuesday, October 18, 2011 @ 9:07 PM
BBVA has settled out of Court for one of our clients using action against Bank due to lack of Bank Guarantee ( provision 1segundo of Law 57/68) which establishes that Bank needs to verify, under its liability, that the corresponding guarantees exist if they receive advanced amounts in off plan businesses.
Good sign of sensible behaviour by this Bank.
That might be one of the reasons there is no much Case Law for this type of action. They settle Out of Courts once this action is brought against them.
The settlement happened once our lawsuit had been served to them.
So very good news!
Maria
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"Arcos (de la Frontera)", Cadiz, Spain, by Haddhar, at flickr.com