As recently announced on papers. Finca Parcs claimers have already arrived to Hellín por the 4 days trial. Jaime de Castro , barrister working for CostaLuz Lawyers is representing them in Courts.
We will keep you posted on developments.
Five-year battle for off-plan deposit refund
UK-based property buyers face the CAM bank and their developer in court
By Dave Jones – COSTA BLANCA NEWS
A TOTAL of 70 property buyers from the UK and Ireland are travelling to Spain next week to fight to get back deposits they put down at the abandoned Las Higuericas Finca Parcs development.
A four-day trial - the result of lawsuit filed against CAM Bank and developer Cleyton GES SL by Finca Parcs Action Group – is due to start on Monday, May 21.
The 70 buyers have all been summoned to attend the First Instance Court in Hellín following a request by CAM Bank.
They are seeking to recover off-plan deposits totalling 1.5 million euros for which, they argue, there were no legally required bank guarantees.
These were paid between 2005 and 2007 ‘in good faith to Cleyton GES SL and the CAM which according to Spanish Law, in particular, LEY 57/68 Article 1.2 must be deposited in a special account, with separation from any other funds belonging to the promoter, which may only contain funds deposited for the construction of dwellings’.
Action group co-ordinator Keith Rule said they have been demanding their money back for five years.
“It is our inalienable right under Spanish Law, LEY 57/1968, to have our off-plan deposits held in a special escrow account and protected by way of individual bank guarantees,” said Mr Rule.
“Contrary to Spanish Law the developer, Cleyton GES SL together with CAM Bank, who funded the project and accepted the off-plan deposits, failed to protect our money.”
He added that despite abandoning the project in 2009, neither the developer nor CAM bank returned their money.
“For the past three years the developer has been declared on various court judgments as ‘whereabouts unknown’,” stated Mr Rule.
“Therefore we were forced into this lengthy, expensive and very stressful legal battle.”
The inland development, close to the village of Agramón, is around 15km from Hellín and 80km from Albacete and Murcia.
The site with 617 plots divided into five phases still remains abandoned with just 50 phase 1 properties completed, added Mr Rule.
He concluded: “It has been a huge logistical exercise arranging flights, accommodation and airport transfers for the 70 group members; however with all plans finally in place we are now ready to face the developer and bank in court.”
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"Lepe", Huelva, Spain, by Pablo G. Pando, at flickr.com