El blog de Maria

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Legal tip 833. Case won in Las Higuericas
Wednesday, October 10, 2012 @ 8:16 AM

We received with great joy yesterday the new on a case being won in Murcia Appeal Court in relation to Las Higuericas site, where we are directing a big case as you know.

Case is partially similar to ours ( Banks liabilities out of Law 57/68) with the exception on that they had a partial Bank Guarantee.

The case we are conducting for more than 70 people deffends buyers without Bank Guarantee at all. So it will certainly be next step ahead in this battle.

Can´t wait to March when Appeal Court decission for our case will be issued.

Arcos de la Frontera, Cadiz, South of Spain.

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2 Comments

ChrisW said:
Wednesday, October 10, 2012 @ 1:58 PM

This is great news for all!

What is the difference between a full bank guarantee, and a partial one?

Many thanks,
Chris

Keith - FINCA PARCS ACTION GROUP said:
Wednesday, October 10, 2012 @ 4:45 PM

Hi Chris

The buyer paid 2 instalments.

For the first instalment he got a Bank Guarantee.

For the second instalment he did not get a Bank Guarantee.

So not all of his money was covered by a legally required Bank Guarantee.

Both instalments/off-plan deposit payments were made to CAM Bank - the bank who funded the development, accepted all the off-plan deposits and issued bank guarantees to some buyers.

CAM Bank failed to issue Bank Guarantees for all off-plan deposits that they accepted at Las Higuericas Finca Parcs.

Any other questions please let me know.

Kind regards

Keith - FINCA PARCS ACTION GROUP

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Maria
Lawyer. Director of the Costaluz Lawyers team. Useful legal tips for an easy way in Spain. www.costaluzlawyers.es

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