How Many. How Much. When

 Sorry dont know anymore only read the blog she has posted on the site. I heard SARC offered her a pizza and some fish and chips not to post it though!

Hi Brian.

Respectfully, i dont think it really matters which company the refund came from. Firstly, it had to be a bank guarantee as the administration has not yet finished, so it is most unlikely that anyone without a bank guarantee would have received any money back. Secondly, If  Maria has managed to get someones money back within two and a half months that would take us back to the end of August during the administration. If she had done that before the administration, i am sure she would have posted long ago.

There is hope for all with bank guarantees after all. I think in that respect the flood gates will open in the not too distant future.

            Bob.

Hi gjgcooper.

I agree entirely with joannie and you need to get yourself a good lawyer. The whole idea of a bank guarantee is to cover you should your property not be built on time or your developer goes to the wall. It is not sj or hdt that give you that guarantee but the bank and their name will be on your bank guarantee. The bank will pay you your money back, NOT the developer.

So cheer up.    Bob.

Hi Bob

Yes your on my wavelength there, but i am given an impression that one of the companies in admin may be trading on, the other one has a question mark.  There would be a good reason for the administration to keep out of decisions about paying back on a company trading on.

The decision to pay out on one of the companies......the one trying to get re-financed.......could be an upsetting decision for the people wanting the positive result of their houses built.

Also Maria did have a case in court before the administration, which she won, but was not able to get the funds back for.....i think because ot the start of the administration? from memory.

So i was wanting the facts put in................sorry im a bit beligerent like that...cant help it...its the way i was brung up...lol

Thanks

Brian

To save any confusion here is exactly what Maria posted  Cheers JA

2 and half months for succesful execution of Bank Guarantee

Who said that Bank Guarantees cannot be executed and if executed, it will entail long and costful processes?

Just for your peace of mins and restore your faith in the judicial spanish system: 

It has taken 2 months and half for one of our clients ( we already have the money in our bank account and are transfering it to him, early next week)  and have costed him nothing as the Judge has imposed the Guarantoor to pay legal fees.

_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

Hi Brian.

No problem, i have never found YOUR comments to me to be disrespectful, just a bit off handed sometimes like mine. None of us are perfect. lol.

I know where you are coming from but the company who may continue trading on, if there is one, probably wont refund deposits because they wont need to if they going to be allowed to continue trading. If one of them is not going to be allowed to trade on, they also wont  refund because they will be out of the game so to speak, with no money.

The one trading on COULD i suppose offer you your house or your money back, which is fine if most people want their house. If of course most people want their money back then there would be a big question mark over whether or not they had enough money to give all those people back. Its back to the re: financing question again.

I dont know if Maria won a case or not and if it was the start of the administration which stopped it. I must admit that would not make any sense as our lawyer said: you have a bank guarantee: Your contract is out of date and has been breached: And even better, Herrado del Tollo are in administration, which is what a bank guarantee is all about.

I just hope this nightmare  ends reasonably happy for all of us and sooner rather than later Brian.           Bob.

Hi all.

My last post obviously crossed with julie anne's. Well done julie and even more so, well done Maria.

I have never lost faith in the bank guarantee, only lawyers who perhaps because of limited experience of them, were not up to speed as i fear our first lawyer was'nt  but we have now found one that seems to completely know the score and hopefully our completion wont be too far away.

      Bob.

Hi Hawkings

 Wondering how much and what info you are getting from you lawyer ,you don't seem to be well informed .Many of us are being informed of fact by our lawyers regularly  and know what the exact situation regard the 2  companies are however we are asked not to make the information public as it directs our legal stategy .Therefore  sometimes the points you raise although we could answer we are unable to .I am surprised at some of the speculations you are posting as we already know the fact of these matters but are unable to confirm to you on a public forum .JA

Hi Julie.

Well Julie to be honest unlike you and as you said, MANY OF US, and your lawyers, i am not playing a cloak and dagger game on this forum. [So called secrets] Must not mention this or answer that.

You say you are receiving facts from your lawyers regularly and know what the exact situation of the 2 companies is. Well in that case you will probably know the final outcome of this mess and would like to tell us all.

As for my part, i am claiming our money back on our bank guarantee and i could not care less of the exact situation of either company, what state they are in or anything else.

Also, i dont speculate on this forum, [i only do that on horse racing] i give my opinions here and at the end of the day some of them will be proved right and i am sure some or many of them will be proved wrong. SO WHAT.

          Bob.

Hi Hawkings

I agree with you ,our best chance is with the BG and for this the state of either company is irrelevant.however this is a public forum anyone can log on here and just incase the BG route does not pan out it is best not to give SJ et al the upper hand they have had from the  start  from SARC and postings on this and other forums .No cloak and dagger ,only a fool would ignore the legal advice they are paying for and there is info that is recieved  from the legals that we have been asked not to post. I wish you all the best in getting a good result .JA

Hi Julie.

Finally, i would like to wish you a good result as well and infact everyone who is owed money.

I know anyone can look at this site including San Jose but i dont think anything we say can give San jose or hdt the upper hand and god knows enough has been said on here by people to get right up there nose's. At the end of the day the administrators will decide what happens to them, who trades and who does not, who gets there money back, and how much. The administrators have far too much on there plate to worry about a forum like this and what is being said.

If at the end of the day sj and or hdt continue trading, dont worry too much about what has been said on this site, they will still want your order, still want you to buy, and definitely will still want the rest of your MONEY.

Good luck though Julie and keep up the good work and give Tonymal a break. [ I bet that fell on stoney ground] Ha. Ha.

                       Bob.

P.S. Another opinion. Dont worry the B.Gs. WILL pan out.
 

Thanks Hawkings there is no stoney ground I wish Tony all the luck in the world , ignorance is bliss . I just worry about all his eggs being in one basket along with his  hopes and dreams and those of his fellow SARC members .

Good luck one and all no matter what you decide to do about this sorry mess .JA

Anyway back to the posting about BG pay out.

It dosnt say its at the administrations we are locked into, or the company we defend ourselves against, does it?

Did i miss something?

Brian

No Briando I don't think so it was not  SJ or HdT it was  in the Murcia courts which seem to be much quicker and giving fairer judgements to purchasers .I don't think the company was in Admin and the case was about the developer not delivering the promised facilities.The good news for those with BGs is perhaps  the fact that the court told the bank to pay out and they did and quickly.JA

Good

Thanx JA

Thank you for that

Does anybody know exactly how the bank guarantee scheme works?

Is it underwritten by insurance, or is it a bank promise, which they then get back from the developer......or is it a safe (ha ha) account deposited with the bank by the developer which is for refunds on broken contracts?

Brian

Brian

There is a good thread on the General Forum entitled "Bank Guarantees Explained' You should be able to pick up some hints on there.

Hi All,

Pleased to say that we have now had our deposit monies returned. We agreed to forego interest and costs.Our Solicitor has been of great assistance and if anybody needs the name and contact details please send a p.m.

David & Christine 

Congratulations both! You must be immensley relieved its all over.  Did you have a BG or not??

Sal